PHILADELPHIA, PA--(Marketwired - Jun 22, 2016) - After falling for two consecutive quarters to its lowest level in two years, American workers' confidence rebounded in the first quarter 2016, 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 four key drivers of worker confidence: likelihood of job loss, likelihood of a promotion, likelihood of a raise, and trust in company leadership.
Confidence levels rose across all four categories in the first quarter of 2016 to 96.8 from 94.2 in the fourth quarter of 2015. The Index showed the largest gains in job security, promotion potential and trust in leadership, while raise potential saw the smallest uptick of just 0.4 points.
"Interestingly, the three largest gains in the Worker Confidence Index were seen in the three non-financial categories of job security, promotion and trust in leadership," said Andy Roane, Vice President of Recruitment Process Outsourcing (RPO) for Yoh. "The lag in expected raise potential likely means employees, though confident about job outlook overall, are playing a wait-and-see approach before expecting any increase in wages following a challenging fourth quarter of 2015."
Since the study began, the WCI has aligned with the Consumer Confidence Index, showing identical rises and falls in worker confidence ahead of similar rises and falls in consumer confidence.
- Worker confidence still significantly lower than at the same time in 2015, but rises after holiday-time fall
Potentially fueled by holiday-season hiring anxieties, the WCI fell to its lowest level ever in the fourth quarter of 2015 to 94.2. Likelihood of job loss was particularly strong among those 18-24 (15.4 percent), those most likely to have holiday-season jobs.
While the WCI rebounded in the first quarter of 2016 to 96.8, it is still 3.4 points lower than during the first quarter of 2015.
- Men more optimistic than women about receiving promotions and raises, not job security
While women continue to report higher levels of confidence in their job security than their counterparts, men are more optimistic about receiving promotions and raises. Minorities tend to anticipate job loss more than whites. Concern about job stability was particularly high among blacks in the first quarter. The youngest, poorest, and most educated reported the highest concern about job security. High earners are most likely to anticipate a raise and a promotion.
View the entire study at www.HROToday.com.
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, Federal Services, 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.