Workers are feeling good these days about their prospects for hitting the boss up for a raise.
This growing confidence on the part of most employees, buoyed by the recovery and sharpened by the ongoing corporate competition for talent, was quantified in a recent survey by HRO Magazine and talent-outsourcing firm Yoh.
The survey, packaged as the "Worker Confidence Index," is done quarterly and is based upon input from 1,000 working adults who are interviewed each month about their level of confidence in the economy and their situations.
Recommended For You
The surveyors inquire about confidence in four categories: perceived likelihood of a raise, perceived likelihood of a promotion, perceived likelihood of job loss, and trust in company leadership. Overall, the survey found that the confidence index had moved up since the first quarter survey, from 96.8 to 99.7.
The increase was driven by the uptick in confidence of getting a raise, which, the surveyors say, increased by "an unprecedented 12.2 points during the quarter." They add: "The likelihood of raise hit its highest point in the second quarter 2016 since the launch of the study — at 28 percent."
In the other three areas, the dials didn't move as strongly, and "trust in company leadership" actually dropped slightly. Over the past four survey periods, about 8 percent of those interviewed felt losing their jobs was likely. The survey also found that women felt more secure in their jobs than did men, and that non-whites tend to worry about losing their jobs than do whites.
"The spike in workers' 'perceived likelihood of a raise' follows what we typically see coming out of the first quarter as many Americans begin to expect raises as fiscal years come to a close," says Andy Roane, vice president of recruitment process outsourcing for Yoh. "The smaller changes in expected promotion, job loss and trust in company leadership hint that while companies may be doing well financially in mid-2016, employees are still apprehensive about a full recovery, especially with the historic 2016 presidential election looming."
Over the past year, likelihood of job loss has consistently stayed between 8.4 percent and 8.6 percent. Women continue to report higher levels of confidence in their job security than men (6.8 percent for women and 10.5 percent for men). Minorities tend to anticipate job loss more than whites (12.2 percent for blacks and 14.2 percent for Hispanics versus 5.9 percent for whites).
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.