Randstad: Worker Confidence Dips As Economic Uncertainty Continues

Survey indicates employees remain confident in current job security and future of employers

Dec 07, 2012, 10:30 ET from Randstad

NEW YORK, Dec. 7, 2012 /PRNewswire/ -- The Randstad Employee Confidence Index decreased last month to 51.7, breaking a previous two-month climb in confidence. In the November Index, employees showed increased uncertainty around the availability of new jobs and in the strength of the economy. Despite the decrease in optimism, the majority of U.S. workers (59 percent) maintain strong levels of confidence in their employers' future. Additionally, slightly more workers expressed an increased sense of job security.

"November was a month of ups and downs for the U.S. labor market, but for the most part, our Index has remained fairly high given the mixed economic headlines," said Jim Link, managing director of human resources for Randstad US. "With the presidential election behind us, economic anxiety still exists around the so-called fiscal cliff, potential sharp tax increases, and the economic outlook overseas. Yet, there are some very positive signs as we move into the last month of the year. The retail holiday season started off strong with more sales activity in stores and online when compared to 2011. Consumers are also more confident than we've seen since early 2008, the housing market is showing signs of recovery, and third quarter GDP growth was revised upward to 2.7 percent. Despite this welcoming news, the economy still remains fragile and the unemployment rate will likely show little movement as we close out 2012."

Look Inside the Report:

Employee Confidence Decreases in November

  • The Employee Confidence Index decreased 2.6 points to 51.7 in November after increasing in both September (0.8 points) and October (1.9 points)

U.S. Workers Remain Uncertain Around the Economy and Jobs

  • November saw a seven percentage point increase in employees indicating they believe the economy is getter weaker (41 percent versus 34 percent last month)
  • Fifty-two percent of workers  believe fewer jobs are available, an increase of six percentage points over last month
  • Only 20 percent believe more jobs are available  

Confidence Holds Strong for Employers' Future and Personal Job Security

  • Most employees, 59 percent, continue to feel confident in the future of their current employers and companies
  • Almost three-quarters of employees also feel secure in their jobs, with 72 percent indicating it is unlikely they will lose their job in the next 12 months. This number has held strong throughout 2012

Employees Remain Optimistic Around Future Job Prospects

  • Forty-three percent of employees in November indicated they are confident in their personal ability to find a new job, however, a quarter of employees (25 percent) reported they were not confident in their ability to find a new job
  • More than a third of employees, 36 percent, are ready to move on to their next job, indicating it is likely they will transition to a new job in the next year

The Randstad U.S. Employee Confidence Index measures workforce trends across the country since 2004.

About Harris Interactive

This November 2012 Randstad Employment Tracker was conducted online within the United States by Harris Interactive on behalf of Randstad between November 12-14, 2012 among a U.S. sample of 1,421 employed adults, aged 18 years and older. Results were weighted as needed for age, sex, race/ethnicity, income, education, and region. Propensity score weighting was also used to adjust for respondents' propensity to be online.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words "margin of error" as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the U.S. adult population. Because the sample is based on those who agreed to be invited to participate in the Harris Interactive online research panel, no estimates of theoretical sampling error can be calculated.

About Randstad
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.     

SOURCE Randstad