The Impact of COVID-19 on Worker Confidence
The most recent study shows that confidence in job security declined sharply, but trust in management remains high.
By Larry Basinait
The results of the worker confidence index (WCI) report for the first quarter of 2020 and April are largely consistent with the widely reported economic impact being felt in the U.S. By mid-April, jobless claims exceeded 22 million, the highest since 2009. In the first quarter of 2020 (see Figure 1), the WCI decreased by 1.8 points from the fourth quarter of 2019 to 112.4, marking the second consecutive decline. However, the index remained higher than the first quarter of 2019, as the impact of COVID-19 was only beginning to make its mark during the time the survey was fielded. Preliminary April results show a very different scenario, with the WCI for the month falling to 94.3, by far the lowest since study’s inception.
Post-Pandemic Strategies
New research indicates how companies are planning to adapt their recruitment and return-to-work policies post-COVID-19.
By Larry Basinait
To better understand how companies are managing their workforce in the wake of the worldwide pandemic, HRO Today is conducting a series of pulse surveys. The HRO Today Coronavirus Knowledge Portal addresses how businesses and HR leaders are handling the outbreak. Because the office environment will continue to be severely impacted going forward, this brief report examines how HR will function in the new normal.
A Strong Finish
Despite economic turmoil largely caused by COVID-19, the overall worldwide employment environment in the final quarter of 2019 was stable.
By Larry Basinait
Deploying a global workforce and ensuring access to the best talent is a crucial component of success for all multinational enterprises. Global labor market intelligence is an invaluable tool for these HR departments and can be used to inform critical decisions around the best countries and regions in which to grow.
The Differences Are Clear
New research shows the varying ways salaried and hourly employees are recruited and hired.
By Larry Basinait
Are there differences in which hourly and salaried positions are recruited? According to new research from HRO Today and Cielo, yes—and the differences are actually quite significant.
The Next Stage of RPO Helps You Recruit the Right Talent – Right When You Need It
With the extremely low unemployment rate and a growing skills and talent gap, U.S. companies are struggling more than ever to find, retain, and compete for the right talent to help their business grow and become a competitive player in their industry.
But as the recruiting environment grows more complex and fast-paced, RPOs must go the extra mile to deliver value-added services and speedy solutions. This whitepaper, presented by Pierpoint, delves into how the next stage of RPO – Recruitment Resources Outsourcing (“RRO“) – is beneficial for companies to implement.
Here’s what you’ll learn:
Global Unemployment Report: Q1 2018
Global Unemployment Report
Deploying a global workforce and ensuring access to the best talent is a crucial component of success for many enterprises. Global labor market data is an invaluable tool for multinational HR departments and can be used to inform critical decisions around the best countries and regions in which to grow. PeopleScout, a global provider of RPO, MSP, and total workforce solutions, has partnered with HRO Today Magazine to produce quarterly reports that compile current international labor market data and important trends from the world’s leading economies by country and region.
What else does the report show that impacts HR? Download the full report below to find out.
Worker Confidence Index – First Quarter 2018
The Worker Confidence Index (WCI) for the first quarter of 2018 increased by 2.6 points, and has increased in each of the last three quarters.
Of the four components of the WCI, Likelihood of Promotion rose the most, improving by 9.7 points, while the Likelihood of a Raise also improved by 4.6 points. Job Security and The Trust in Company Leadership indices showed modest declines in the quarter, but were similar to the first quarter of 2017.
Concern about job loss is the most important indicator in estimating worker confidence about their current and near-term financial outlook. Women continue to report the highest level of job security since the inception of the study. The percentage of males who felt that they would lose their job decreased slightly in 1Q 2018.
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