Q4 Employee Confidence Index Starts High
In its October Employee Confidence Index, Randstad reports that the confidence level of employees has increased by 1.9 points over September to 54.3 percent. The Index has risen for two consecutive months indicating more positive feelings toward the state of the economy, job market, and future employ-ability.
“We’re seeing a positive increase in employee attitudes about the economy and their upcoming prospects for new jobs,” said Jim Link, managing director of human resources for Randstad US. “Our October report clearly shows workers believe more jobs are available, but more importantly, over forty percent are optimistic in their personal ability to secure them. Interestingly enough, this sentiment continues to improve even with negative news coverage on economic conditions abroad, especially in Europe. However, September’s improvement in the nation’s unemployment rate, declining below 8 percent to 7.8 percent for the first time since 2009, is largely attributed to more previously unemployed people taking on part-time employment. This indicates to us companies may still be taking a wait-and-see approach to hiring, but they appear to be loosening their reigns a bit to keep up with demand and productivity. One thing is certain — everyone will be eyeing the final monthly jobs report this Friday leading up to the election.”
Other key findings from the report include:
• The Employee Confidence Index has increased 8.7 points since October 2011.
• Two-thirds (66 percent) of employees feel the economy is either improving or not getting worse compared to 59 percent in September.
• Employees who perceive the availability of fewer jobs fell 7 points in October to 46 percent.
• Remaining stagnant throughout the year, 43 percent of workers feel confident that they can find a new job.
• Employees planning to change jobs in October rose 5 points to 37 percent over the month.
• 70 percent of employees indicated to feeling a strong sense of security in their jobs and do not fear being laid off; a 4 point drop from September.