Remaining Resilient
Worker confidence is boosted by increased job security in the current tight labor market.
By Larry Basinait
The Worker Confidence Index (WCI) for the second quarter of 2018 declined by 2.8 points, reversing a prior trend of consecutive quarterly increases. The WCI now stands at 104.3 (see Figure 1). Of the four components of the WCI, only job security increased, up by four points to 104.0. Likelihood of promotion decreased the most, down by 9.9 points. Likelihood of a raise and trust in company leadership indices also declined for the quarter. However, all four indices remain higher than they were one year ago.
Feeling Insecure?
Although worker confidence remains high, today’s workforce is concerned about one thing: job security.
By Larry Basinait
The Worker Confidence Index (WCI), which measures employee attitudes about their perceived job security, increased by 0.7 points since the third quarter of 2017 and decreased by 1.3 points since the fourth quarter of 2016. It now stands at 103.2 after increasing for the past two consecutive quarters. Of the four components of the WCI, trust in company leadership rose by 3.2 points in the last quarter while confidence related to job security declined by 2.5 points. The decline in the WCI in the last year reflects employee concerns about the state of today’s workplace; in particular, trust in company leadership experienced a significant drop of 3.6 points since the fourth quarter of 2016. Recent volatility in the stock market may contribute to lower worker confidence in 2018, but for now, confidence remains high overall.
The Worker Confidence Study – Annual Report 2017
The Worker Confidence Index (WCI) decreased by 0.7 points since last quarter and 1.3 points since last year. It now stands at 103.2 after increasing for the past two consecutive quarters.
Of the four components of the WCI, trust in company leadership rose by 3.2 points, while there was a 2.5 percent decline in confidence related to job security.
The decline in the WCI since last year suggests some concerns in worker confidence, specifically related to trust in company leadership – which experienced a significant drop of 3.6 points since the fourth quarter of 2016. Recent volatility in the stock market may contribute to lower worker confidence in 2018, but for now, confidence remains high overall.
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