Employee Layoff Fears Drop to Lowest Level in Nearly Five Years; Confidence in Job Market & Business Outlook Stabilizes

Reports of Large-Scale Hiring Are Down, While More Employee Perks Added at Work in the Past Six Months

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Employee Layoff Fears Drop to Lowest Level in Nearly Five Years; Confidence in Job Market & Business Outlook Stabilizes
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Employees concerned about layoffs (15%) have reached a new low for the first time in nearly five years. …

SAUSALITO, CA--(Marketwired - Oct 4, 2013) - The Glassdoor Q3 2013 Employment Confidence Survey1 may be showing signs that employees2 feel like they won't be forced to head to the unemployment line any time soon. The findings reveal that employees (15 percent) feel less concerned about being laid off in the next six months, a low since Q4 2008 and down seven percentage points since last quarter. The survey, conducted online by Harris Interactive, evaluates four key indicators of employee confidence: job security, business outlook, job market optimism/re-hire probability and salary expectations.

As layoff concerns retreat, so does the number of employees reporting their employer initiated large-scale hiring (18 percent), a 15-percentage point drop since last quarter and a low since Q2 2011. (Reports of hiring based on employees who saw positive changes in their company in the past six months.) This differs from last year when large-scale hiring increased eight percentage points from 25 percent in Q2 2012 to 33 percent in Q3 2012.

The decline in large-scale hiring and expected layoffs may reinforce why employees' optimism in their company's business outlook in the next six months remains relatively unchanged. Half (51 percent) believe their company's business outlook will stay the same in the next six months, 40 percent believe it will get better and nine percent believe it will get worse. When separating opinions by gender, more male (45 percent) than female (35 percent) employees believe their company's business outlook will improve, while male employees (18 percent) also report more concern over being laid off in the next six months than female employees (11 percent).

Job market optimism remains unchanged when compared to last quarter, as 43 percent of employees believe that if they lost their current job they could find a job matched to their current compensation and experience levels in the next six months. Unemployed job seekers also show little wavering in their confidence levels, as 38 percent believe they could find a job in the next six months.

"This is the first quarter since the Great Recession where we are finally seeing signs of stabilization within the job market, and as a result, employees are feeling more secure in their current jobs than they have in several years," said Rusty Rueff, Glassdoor career and workplace expert, who ran global HR departments at Electronic Arts and PepsiCo before co-authoring Talent Force: A New Manifesto for the Human Side of Business. "The signal is clear for both companies and employees that we must remain calm, carry on, and stay focused on doing our best to help move the economy forward."

As for salary expectations, fewer employees (37 percent) reported they expect a pay raise or cost-of-living increase in the next 12 months, down three percentage points since last quarter. Employees with a total household income of $75,000 or more per year are more optimistic (44 percent) about receiving a pay raise or cost-of-living increase in the next 12 months, when compared to those who earn a total household income of less than $35,000 per year (28 percent). However, when it comes to additions employers made during the past six months, more employees (76 percent) reported new perks, such as the option to work remotely, dress casually, work flexible hours, and/or receive new stock, a high since Q2 2011 and up 29 percentage points since last quarter.

SURVEY SUPPLEMENT & IMAGES AVAILABLE: For more details, including graphics highlighting quarter-by-quarter survey results, please see the full Q3 2013 Glassdoor Employment Confidence Survey Supplement: http://www.glassdoor.com/press/surveys. To request the survey supplement, images and/or complete survey methodology, please contact pr [at] Glassdoor [dot] com.

Methodology
1This survey was conducted online within the United States by Harris Interactive on behalf of Glassdoor from September 13-17, 2013 among 2,044 adults ages 18 and older (of whom 891 are employed full time and/or part time). This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact pr@glassdoor.com.

2 For the purposes of this study "employees" were defined as U.S. adults 18+ employed full time and/or part time unless otherwise indicated.

About Glassdoor
Glassdoor is the world's most transparent career community that is changing the way people find jobs and companies recruit top talent. Founded in 2007, Glassdoor offers members the latest job listings, as well as access to proprietary user-generated content including company-specific salary reports, ratings and reviews, CEO approval ratings, interview questions and reviews, office photos and more. Members also have the ability to see Inside Connections™ at particular companies via their Facebook network. In addition, thousands of employers are using Glassdoor's Talent Solutions to support their employment branding and recruiting efforts. Glassdoor is backed by Benchmark Capital, Sutter Hill Ventures, Battery Ventures and DAG Ventures. More information about Glassdoor can be found on its blog, and by following the company on Facebook, Twitter and LinkedIn.

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