Engineering Worker Confidence Index Declines for Second Consecutive Quarter
ATLANTA, Nov. 27, 2012 /PRNewswire/ -- The Randstad Engineering Employee Confidence Index, a measure of overall confidence among U.S. engineers, was 54.4 in the third quarter of 2012—a decrease of 4.6 points from last quarter and the second consecutive decline this year. The quarterly report, conducted by Harris Interactive on behalf of Randstad Engineering, surveyed 146 workers employed in the engineering industry. This quarter's findings reflect further skepticism among engineering workers about the overall economy and in the availability of jobs. At the same time, feelings towards their own job security remained strong.
"Despite the relative positive outlook for the engineering field, it appears professionals in this industry may have been impacted by negative news surrounding the employment situation and economic conditions abroad, especially in Europe," said Richard Zambacca, president of Randstad Engineering. "This diminished optimism is reflected in this quarter's findings, specifically the fact that half of the engineers' surveyed feel there are fewer jobs available and indicate they are not likely to look for a new job in the next 12 months. However, it is important to note that more workers feel secure in their positions than in the second quarter. Despite this drop in confidence, the sector is poised for growth and projected to hire at rates faster than many other industries. Contributing to the high demand for these skills is a lack of experienced, licensed engineers in the market. In fact, the National Society of Professional Engineers states that only about 20 percent of those who graduate with a B.S. in engineering in the U.S. go on to become licensed professional engineers. As more funding becomes available, and construction budgets open up, the job market for highly-skilled engineers will become even more competitive."
Q3, 2012 Survey Highlights:
Engineering Workers Growing More Concerned About the Strength of Economy
- Only 29 percent of engineering professionals believe the economy is getting stronger, a decline from 38 percent in Q2 2012. At the same time, 48 percent believe the economy is getting weaker (versus 38 percent in the second quarter).
Engineers Believe Less Jobs Available
- Although more than one-quarter (27 percent) of engineering workers believe that more jobs are available, the number of workers who believe fewer jobs are available continues to increase. Half of engineering workers believe fewer jobs are available this quarter, compared to 44 percent in the second quarter.
Majority of Engineers Remain Confident in Ability to Find a New Job
- Fifty-three percent of engineers feel confident in their ability to find a new job—a small decline from 58 percent in the second quarter of 2012.
Worker Sentiment about Job Security Remains Strong
- Seventy-four percent of engineers report that they are not likely to lose their jobs over the next 12 months. This is an increase from the 68 percent indicating so in the second quarter.
Significantly Fewer Engineers Likely to Search for New Employment
- Less than one-third (32 percent) of engineers say they are likely to look for a new job within the next 12 months, a decline of 13 percentage points from second quarter 2012.
To view the latest quarterly trends report, click here.
This survey was conducted online within the United States by Harris Interactive on behalf of Randstad Engineering from July 10-12, August 14-16 and September 11-13, 2012, among 3,960 adults ages 18 and older of which 146 are employed in engineering. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Lesly.firstname.lastname@example.org.
About Randstad Engineering
Randstad Engineering has been matching clients with the expert engineering and technical staff needed to help their companies succeed since 1988. With degreed engineers and expert technical recruiters on staff who understand the unique challenges of your industry, Randstad Engineering partners with companies on their specific business goals by quickly connecting them with the expert professionals to help achieve them. With an extensive network of three million engineers and other technical experts—Randstad Engineering has the right talent to get the job done.
Randstad is a $22.5 billion global provider of HR services and the second largest staffing organization in the world. From temporary staffing to permanent placement to inhouse, professionals, search & selection, and HR Solutions, Randstad holds top positions around the world and has approximately 28,700 corporate employees working from its nearly 4,700 branches and inhouse locations in 40 countries. Founded in 1960 and headquartered in Diemen, the Netherlands, Randstad Holding nv is listed on the NYSE Euronext Amsterdam. Learn more at http://www.randstad.com.