Dive Brief:
- Led by the belief there is a sizeable increase in the odds of getting a raise in their futures, American workers’ confidence continued its rebound into the second quarter 2016, according to a new survey.
- The national Worker Confidence Index, a survey of U.S. workers from HRO Today Magazine and Yoh, the global talent and outsourcing company, found confidence levels remained relatively stable across three of four categories in the second quarter of 2016. The overall index grew to 99.7 from 96.8 in the first quarter of 2016. The largest gains came from workers’ "perceived likelihood of a raise," growing by an unprecedented 12.2 points during the quarter.
- Despite the net growth in the overall index, it still lags 2015 levels, indicating some level of residual employment uncertainty and potential apprehension ahead of the upcoming presidential election, according to the survey.
Dive Insight:
The spike in workers’ "perceived likelihood of a raise" follows what Yoh experts typically see coming out of the first quarter, as many Americans begin to expect raises as fiscal years come to a close. The smaller changes in expected promotion, job loss and trust in company leadership hint that while employers may be doing well financially in mid-2016, employees are still apprehensive about a full recovery, especially with the contentious 2016 presidential election looming.
The election aside, it's not time for employers to stand still. If not adding to the workforce, the pre-election period may be the perfect time to launch a talent analysis to determine current workforce status, develop future needs and goals, and discover where gaps lie and how to best fill them. Then, once the election is over, employers can act on those strategic steps.