If you’re thinking about moving onto new career opportunities, it is likely you are feeling more positive about finding a new job now than you were a year ago. In fact, our latest research reveals that more than one in three UK employees (36 percent) now feel confident that they would be able to find a new job within six months. This figure has increased by six percentage points in the last year, taking employee confidence to an annual high.
This confidence is highest amongst 25-34 year olds (46 percent) but falls to less than a quarter of the over 55’s (24 percent). Consumers that are unemployed are also feeling more positive about the prospect of finding work in the next six months (36 percent), a sentiment which has grown by two percentage points in the last quarter.
These are the findings of the Glassdoor UK Employment Confidence Survey (Q1 2015). This survey tracks employee sentiment every quarter and monitors four key indicators of employee confidence: salary expectations, job market optimism/re-hire probability, job security and business outlook optimism. It is conducted online by Harris Interactive, on behalf of Glassdoor among more than 2,000 people within Great Britain.
This increase in job seeker confidence is supported by improved job security in the workplace. Overall, the number of employees fearful of redundancy in the next six months has fallen by eight percentage points from 35 percent in Q4 2014 to 27 percent in the last quarter. Concern for co-workers job security is slightly higher (37 percent) but this figure has also fallen significantly in the last quarter by six percentage points.
Pay rise expectations
Employee expectations of a pay rise in the next six months have remained fairly stable at around 35 percent for the past year. However, when it comes to inflated confidence, it seems men (40 percent) are far more optimistic than women (30 percent) about receiving a pay boost. In the last quarter, those aged 16-24 – were the most confident about receiving a pay rise (50 percent) compared to just 30 percent of employees aged 45-54. In the last three months, this is pretty consistent across all age groups at either 35 or 36%.
Company benefits are on the rise
For employees whose company had made negative changes in the workplace over the past quarter, 30 percent said that their employer had reduced pay or bonuses, down from 36 percent in Q4. Just 12 percent of those surveyed claim their organisation had communicated a pay freeze in the last six months, a figure which has fallen steadily over the past year from 19 percent. Interestingly, for employees whose company had made positive changes in the workplace over the past quarter, 45 percent said that employers had awarded new company benefits, such as remote or flexible working.
Positive business outlook
Overall, more than one in three (36 percent) employees feel their organisation’s outlook will be better in the next six months or stay the same (55 percent). Employees aged 16-24 are the most optimistic, as two-thirds (65 percent) believe that their company’s business outlook will improve in the next six months. This compares to just 25 percent of employees aged 45-54, making this the most pessimistic age group.
Check out more from our Q1 2015 Glassdoor UK Employment Confidence Survey, including our survey supplement, which provides a detailed breakdown of results.
Glassdoor publishes the UK Employment Confidence Survey each quarter, helping job seekers, employees and employers monitor and track employee confidence in the UK and how it relates to business, jobs, companies, careers, hiring and more.