Study: Stress Up, Raises Down, Summer Plans on Hold
Two out of three employees says recession-related work stress has affected their family life. Half don’t expect raises in the next year. While 74% said they travelled for summer vacation last year, only 60% will this year. This, according to the second quarter Glassdoor.com Employment Confidence Survey of 1,278 employees. Other findings:
• More employees willing to make concessions, such as more hours, pay cuts and unpaid leave, to keep jobs
• 41% concerned company will lay off others in next 6 months; about 1 in 4 think “they” could be laid off
• About 1 in 3 employees expect a pay or a cost of living increase in next 12 months; 50% do not
• 39% expect their company outlook to be better in 6 months
• About 1 in 3 think it’s “unlikely” they could find a job within 6 months if they lost their own.
The survey indicates “employment confidence, like consumer confidence, may lag behind company and market events,” says Glassdoor career and workplace expert Rusty Rueff. “We’re seeing employee sentiment that is more conservative and wary as the reality of the length of the current economic environment is setting in.”