HRO Today Releases Worker Confidence Index Study for Fourth Quarter 2016
Employee Worker Confidence Index is Strongest in Study’s History
Philadelphia, PA – March 21, 2017 – HRO Today announced that it has released its Worker Confidence Index Study for the Fourth Quarter of 2016.
The Worker Confidence Index – one of the key measurements covered in this study – increased to its highest level since the study’s inception, up 4.6 points to 104.5 in the fourth quarter. Additional index components were also up, with job confidence, likelihood of a raise, and trust in leadership all up more than 10 points.
The increase in the index throughout the entire year of 2016 suggests optimism about employees’ faith in their employment situation, and job-loss confidence also corresponds with the U.S. unemployment rate drop to 4.7 percent.
“In many ways, 2016 was tumultuous,” said Larry Basinait, vice president of market research, SharedXpertise. “The Dow closed out its best year since 2013, up 13.4 percent. But, the result of the presidential election was both surprising and polarizing, and traditionally the market doesn’t like surprises. How the election results impact 2017 remains uncertain.”
“Over the course of the past two years, we’ve seen that worker confidence correlates quite closely with the health of the financial markets and, increasingly, with the health of the employment market,” said Andy Roane, vice president of recruitment process outsourcing, Yoh. “With the most significant increase in ‘perceived likelihood of promotion’ coming from those under age 35, it should be comforting to HR to see employees are feeling confident in their work environments early in their careers. However, it’s critical that companies dedicate the same time and resources to long-term workers as they do to new and prospective employees.”
Study Background
In the Third Quarter of 2014, HRO Today magazine and Yoh Recruitment Process Outsourcing joined together and launched an index to measure employment security. There was a need for a new index, as existing indices examined attitudes about the economy – such as the Consumer Confidence Index, Gallup’s Economic Confidence Index, the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) or United States Consumer Sentiment – but these measures focused more on macro metrics. They had much less emphasis on attitudinal measures of those employed.
The focus of the Worker Confidence Index Study is measuring perceived employment security. According to the U.S Bureau of Economic Analysis, more than 70% of what the U.S. produces is for personal consumption. Since the perception of job security greatly impacts purchasing behavior, there is a need to focus on how individuals perceive their job outlook.
The exclusive report is available for download by clicking here. For more information about SharedXpertise, visit www.hrotoday.com, or contact publisher Bill MacRae, at bill.macrae@sharedxpertise.com.
About SharedXpertise
SharedXpertise is the leader in providing media, events and associations that develop professional practices in the areas of corporate responsibility, human resources and financial management. Its media offerings include print and online publications, it provides leading conferences named the HRO Today Forums, and it offers association membership programs. SharedXpertise serves strategy-level corporate executives in the North America, EMEA and APAC regions.
About HRO Today and HRO Today Global
HRO Today and HRO Today Global offers the broadest and deepest reach available anywhere into the human resources industry. Our magazines, web portals, research, e-newsletters, events, and social networks reach over 180,000 senior-level HR decision-makers with rich and objective game-changing content. Our number-one strength is our reach. HR leaders rely heavily on the HRO Today’s Baker’s Dozen Rankings across six different categories when selecting an HR service provider.
About Yoh
For over 70 years, Yoh has provided the talent needed for the jobs and projects critical to their clients’ success by providing comprehensive workforce solutions that focus on aerospace and defense, engineering, federal services, health care, life sciences, information technology, and telecommunications. Yoh fulfills immediate resource needs and delivers enterprise workforce solutions, including managed services, recruitment process outsourcing, vendor management systems, independent contractor compliance, and payroll services. For more information, visit Yoh.com.
Media Contact:
Bill MacRae
bill.macrae@sharedxpertise.com
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