With the U.S. unemployment rate at the lowest it has been in more than three and a half years, employees’ confidence in the U.S. economy—and their ability to find and keep a new job, should they leave their current employer—appears to be stabilizing, according to the Glassdoor Fourth Quarter 2012 Employment Confidence Survey.
The latest quarterly survey was conducted among 2,249 U.S. adults from Nov. 27-29, 2012, on behalf of Glassdoor, a job search and employer information website.
At year-end 2012, 41 percent of employees believed it was likely they would be able to find a job matched to their experience and compensation levels in six months if they lost their job, up from 37 percent at the end of the first quarter 2012.
The quarterly survey has begun asking employees about their job search intentions, finding at year-end 2012 that half (51 percent) of employees will consider looking for a new job if the state of the economy stays the same or improves:
• 33 percent will consider looking for a new job in less than a year.
• Nearly one in five (18 percent) planned to look for a new job in the first quarter of 2013.
More employees are beginning “to evaluate if now is the time to see if the grass may be greener with another employer,” said Rusty Rueff, Glassdoor career and workplace expert, in a media release. “It is now more important than ever for companies to engage with employees to find out what will keep them satisfied and strategize new ways to attract and retain their workforce, or face an impending growth in their turnover rate,” he added.
Pay Is Top Issue in Weighing Offers
Employees and unemployed job seekers reported that salary and compensation were the most important factors that would influence their decision to accept a job offer. Location and career growth opportunities also topped the list, along with anticipated work load and company reputation.
Perks Viewed Positively
Among employees who said their company had made positive changes in the past six months:
- 65 percent reported that new perks were awarded (including the option to work remotely, casual dress and flexible work hours).
- 22 percent reported new stock or other compensation had been awarded.
- Another 22 percent reported their company restored health and dental benefits, pay and perks that had been cut previously.
Among employees who said their company had made negative changes in the past six months:
- 47 percent reported changes or a reduction in net compensation.
- 25 percent reported reduced individual pay or bonus amounts.
- 24 percent reported the company reduced health or dental benefits.
- 11 percent reported the company took away perks, such as commuter subsidies.