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Follow on Google News | New Research Shows Higher Income Workers Less Confident in Job SecurityNew Research Shows Higher Income Workers Less Confident in Job Security, Younger Workers More Trusting of Company Leadership
By: HRO Today Magazine Using the four components established by Yoh and HRO Today that make up employee well being – involuntary job loss possibility, likelihood of promotion, anticipation of a raise, and trust in company leadership – the survey overall showed well-being among all groups was steady, decreasing from 100.8 in the 4th quarter 2014 to 100.5 in the 1st quarter 2015. However, despite this apparent stability, a number of findings prove the increasing need for transparency between company leadership and human resources and their employees. “While the findings of the most recent Employee Well Being Study show relative steadiness in overall well being, Yoh believes the increased likelihood of job loss and lower trust in company leadership among a range of income brackets and age groups proves the importance of engagement with employees all levels of an enterprise,” Key findings of the Employee Well Being Study include: ·Older workers are half as trusting in company leadership when compared to younger workers. Despite the younger generations’ ·Minorities are among the most confident in receiving a job promotion in the next 12 months. While 13.5% of white respondents surveyed in the 1st quarter were optimistic about a job promotion in the next 12 months, black and Hispanic respondents each more than doubled that figure, showing results of 27.7% and 30.3%, respectively. Of those surveyed overall, 18.7% felt they would be receiving a promotion in the next year, down from 19.6% in the 4th quarter. ·Men are much more confident in a 3% raise during their next review than women. During each of the past three fiscal quarters, men have been at least 7 percentage points higher in their perception of an upcoming raise than women, including the 1st quarter of 2015, which saw 31.6% of men anticipating a raise in the near future and only 23.1% of women. In addition, 1st quarter results showed younger workers and those in higher income brackets were also confident in an upcoming raise, which is consistent with previous quarter results. ·Both higher income and lower income workers see increased likelihood of job loss. Survey findings showed that those employees making $35,000 per year or less and those making between $75,000-$100,000 feel they are at a higher risk for involuntary job loss than any other salary bracket. Of lower income workers, 12.3% said in the 1st quarter it was likely they would lose their job in the next 12 months, however, that figure is down from the 17.8% measured in the 4th quarter. Of higher income workers, 12.2% felt there was a likelihood of job loss in the next year, slightly up from the 11.3% figure measured in the 4th quarter. “From contingent workers to full-time employees, it is critical that employment practices and management are transparent at all ends of the spectrum,” said Roane. “Whether the topic is compensation, explicit job responsibilities or mutual expectations on intangibles such as, security, sense of achievement, respect, trust and loyalty, employers must provide clarity to their employees or risk losing them to better opportunities earlier than anticipated.” Survey Methodology This report presents the findings of an online survey conducted by CARAVAN®. Approximately 333 interviews were conducted online on a monthly basis among those aged 18+ working full-time in the U.S. The report is based on 1,000 responses quarterly. Respondents were asked a series of questions. The questions asked were: Involuntary Job Loss Possibility, Likelihood of Promotion, Anticipation of a Raise of at least 3%, and Trust in Company Leadership. To view the entire study, please visit, www.HROToday.com. About HRO Today Magazine HRO Today 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 140,000 senior- level HR decision makers with rich, objective game-changing content. Our strength is our reach and the HRO Today Baker’s Dozen Customer Satisfaction Surveys/Rankings. ABOUT YOH For over 70 years, Yoh has provided the talent needed for the jobs and projects critical to our 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. Yoh is a part of Yoh Services LLC, a Day & Zimmermann Company. Press Contact: Joe McIntyre (215) 564-3200 x112 jmcintyre@gobraithwaite.com End
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