RISMEDIA, December 8, 2009—The Spherion Employee Confidence Index increased by 0.7 points to 49.1 in November 2009. The Index, which measures workers’ confidence in their personal employment situation and optimism in the economic environment, reveals that more workers are confident in their personal employment situations. In fact, the number of workers reporting that they are likely to look for a new job in the next year jumped by five percentage points—the biggest hike seen in nearly two years.
“We are encouraged by the growth seen in the temporary help services sector over the last few months,” said Roy Krause, president and CEO of Spherion Corporation. “It is widely known that an increase in this segment is historically a harbinger that broader hiring is on the horizon. In our own business, we are having more conversations with our clients about having the right mix of talent that focuses on core versus non-core business functions. Given the volatile economic environment, companies are no longer viewing contingent workers purely in a seasonal or secondary role. Many organizations are now actively looking to strengthen the variability of their workforce by increasing the number of highly skilled and specialized contingent positions. They also are starting to look into what really motivates and retains different types of workers. According to our newly released Emerging Workforce Study, 86% of workers say work/life balance and fulfillment are top career priorities. On the other hand, only 12% of employers believe these to be crucial to hiring and retention. Companies that are strategically building and cultivating their talent base will be the ones able to sustain long-term growth and profitability.”
Confidence in Macroeconomic Environment
-Twenty-three percent of U.S. workers believe the economy is getting stronger, showing no change from October 2009.
-Sixty-eight percent of workers surveyed believe there are fewer jobs available, decreasing two percentage point from the previous month.
Confidence in Personal Employment Situation
-The number of workers confident in their ability to find a new job increased by one percentage point to 39% in November.
-The percentage of workers reporting confidence in the future of their current employers increased by one percentage point to 65% in November.
-Seventy percent of workers say they are unlikely to lose their jobs in the next year, decreasing by one percentage point from October.
-Thirty-seven percent of workers are likely to look for a new job in the next 12 months, representing an increase of five percentage points from last month’s reading.
Confidence by Gender
-In November, more men than women believe the economy is getting stronger. Specifically, 28% of men and 19% of female workers cited this.
-More females than males are confident in the future of their current employer in November, with 69% of women and 61% of men reporting confidence.
-Fewer women than men are likely to job search in the next 12 months. In November, 41% of men and 33% of women reported the likelihood to look for a new job.
Confidence by Age
-Workers ages 18-34 are the most likely to believe the economy is getting stronger, with 28% of workers in this age group believing so.
-According to the latest results, 62% of workers ages 18-34 are confident in the future of their current employer, the lowest among all age brackets. On the opposite end of the spectrum, 69% of workers ages 35-44 and 55+ reported confidence, this being the highest among all age groups.
-Forty-eight percent of workers between the ages of 18-34 report that they are likely to look for a new job in the next year. This is the highest reading for all age brackets. On the contrary, only 25% of workers 55+ are likely to make a job transition in the next 12 months.
Confidence by Income
-Workers earning $75K or greater are the most likely to believe the economy is getting stronger, with 28% indicating they believe so compared to 17% of those earning less than $35K.
-Workers earning less than $35K are the least confident in their ability to find a new job, with 35% expressing confidence; while workers earning $75K or greater are the most optimistic with 43% reporting confidence.
-Forty-six percent of workers earning less than $35K are likely to look for a new job in the next year. This is the highest reading across all income cohorts for the fourth consecutive month.
For more information, visit www.spherion.com.