Employee confidence is up slightly, according to a new report by workforce solutions company SFN Group.
SFN’s Employee Confidence Index, which measures workers’ confidence in their own employment situation and their optimism about the economy increased to 53.9 in May, up 0.5 points from April, and up more than two points from March’s index of 51.4.
The ratings could mean that workers are gaining confidence in the strength of the economy and in their ability to find a new job. Moreover, 30 percent of workers said that they are likely to make a job transition in the next 12 months.
“Looking back over the past several months, our employee confidence index has tracked improvements alongside growing employer confidence in the health of the U.S. economy,” says Roy Krause, president and CEO of SFN Group, Inc.
Despite the improvements, Krause maintains that the data suggests some “inconsistency.” Regarding the rising number of workers who plan to change jobs, Krause advises that employers “ramp up retention efforts to ensure their best talent doesn’t opt to seek other opportunities.”
Some findings from the report:
Confidence in macroeconomic environment:
- Twenty-eight percent of employees surveyed expressed confidence in May as compared to only a quarter in April.
- The same percentage of employees from last month, 51 percent, believe there are fewer jobs available.
Confidence in personal employment situation:
- Sixty-three percent of workers say they are confident in their future with their current employer, decreasing two percentage points from the previous month.
- Forty-six percent of workers are confident in their ability to find a new job, up three percentage points from April.
- Seventy-two percent of workers believe that it is unlikely they will lose their jobs in the next 12 months, an increase of four percentage points from the previous month.
- Thirty-nine percent of workers indicated they might consider switching jobs, versus 32 percent in April.
The survey was conducted among 1,268 employees by Harris Interactive on behalf of the SFN Group. The full report can be found here.