SOURCE: Yoh

Yoh

June 08, 2017 08:10 ET

Worker Confidence Index™ Increases for Fifth Consecutive Quarter During Q1 2017, Sets New High Mark

PHILADELPHIA, PA--(Marketwired - Jun 8, 2017) - Led by significant increases in perceived likelihood of a promotion and perceived likelihood of a raise, American workers' confidence increased for the fifth consecutive quarter in Q1 2017, according to the national Worker Confidence Index™ (WCI), a survey of U.S. workers from HRO Today Magazine and Yoh, the leading international talent and outsourcing company owned by Day & Zimmermann. The index gauges workers' perceptions of the four key drivers of worker confidence: perceived likelihood of job loss, perceived likelihood of a promotion, perceived likelihood of a raise, and perceived overall trust in company leadership.

Overall, the index grew from 104.5 in Q4 2016 to 107.6 in Q1 2017. Despite "perceived job security" and "trust in company leadership" dipping slightly between the end of 2016 and beginning of 2017, "perceived likelihood of a promotion" and "perceived likelihood of a raise" grew dramatically, increasing by an average of 10.2 points. The Q1 2017 index marks the fifth consecutive quarter the WCI has increased.

"It should be comforting for business leaders to see that their employees are feeling confident in the workplace," said Andy Roane, Yoh Vice President of Recruitment Process Outsourcing. 

"However, this sets up additional challenges for companies looking for talent during a time of relatively low unemployment. In order to retain and recruit the best employees in today's competitive talent dynamic, businesses must take a proactive approach to crafting a work experience, start to finish, that's tailored to the demands of today's workers."

Other takeaways:

  • Workers' perceived job security fell from 104.9 in Q4 2016 to 99.2 in Q1 2017, its lowest level since Q4 2014. Of individuals aged 25-34, 21.6% felt likely to lose their job in the next year, the most of any group.

  • Employees felt more confident than ever in their likelihood to receive a raise, going from 103.8 in Q4 2016 to a record 112.7 in Q1 2017. However, 36.7% of men, compared to only 25.3% of women, expect a raise in the next year.

  • Workers' perceived likelihood of a promotion grew from 103.8 in Q4 2016 to 115.1 in Q1 2017. Men (27.6%) are more confident than women in their chances of receiving a promotion (17.4%). College grads (30.9%) are more confident than those without a degree (17.5%).

To view the entire study, please visit, http://www.yoh.com/hro-today-employee-well-being-study.

ABOUT YOH
For over 70 years, Yoh has provided the talent needed for the jobs and projects critical to our clients' success by providing comprehensive workforce solutions that focus on Aerospace and Defense, Engineering, Health Care, Life Sciences, Information Technology and Telecommunications. Yoh fulfills immediate resource needs and delivers enterprise workforce solutions, including Managed Services, Recruitment Process Outsourcing, Vendor Management Systems, Independent Contractor Compliance, and Payroll Services. For more information, visit Yoh.com.

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