Consumers surprisingly optimistic about job security

04.06.09
By Nicholas Storie

Although many consumers are frazzled about debt management in an attempt to maintain a clean credit history, a new poll suggests that many are worrying less about job security.

The Q1 Glassdoor.com Employee Confidence Survey polled over 1,500 adults in the workplace to gather opinions on job security, salary expectations, re-hire likelihood and company outlook.

Given the ongoing flood of gloom-and-doom news reports, this employee confidence poll shows some bright spots in the American workforce outlook.

According to the survey results, 74 percent of employees are not concerned about losing their own job over the next six months, but 44 percent do say they worry about the job security of co-workers.

As might be expected, employees of companies that have already experienced layoffs have taken a bit more of a pessimistic view.

Nearly 46 percent of individuals at those firms expressed concern for their own job in the short-term while 84 percent of that group is also worried about co-workers.

Responses from consumers seem to indicate that they are willing to give up some benefits in order to keep their job - a sign that perhaps there is still some job loss fear among the general population.

"Like consumer confidence, employee confidence tends to lag behind the economy and we expect to see more employees willing to make concessions if concerns grow and work confidence lowers in the quarters ahead," said Glassdoor.com career expert Rusty Rueff.

Glassdoor.com says that over the last three months an increasing number of employees are tolerating salary cuts, unpaid leave and lost vacation in exchange for retaining their job.

Survey results showed 41 percent of respondents were willing to have their pay cut. Those with college degrees and salaries over $75,000 were more willing to forego pay, but keep their jobs.

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Employees worrying more about co-workers' jobs than their own