Despite increasing confidence in their employers' future, a high number of employees are still concerned a pink slip could be in their future, a new study finds.
While close to half of employees believe their company's business outlook will improve in the next six months, nearly 20 percent are still worried they could be laid off in the coming weeks and months, research from career community Glassdoor revealed.
Should they lose their jobs, employees are extremely concerned about their ability to land a new position. The study found that 25 percent of employees, including those who are self-employed, think it is unlikely they would be able to find a job in the next six months that matches their experience and current compensation.
Employers are also trimming back benefits for workers. The research discovered that nearly one in three employees reported cutbacks at their organization in the last six months, including changes to compensation, reductions in pay and the elimination of commuter subsidies.
Just 10 percent of those surveyed, down from 19 percent last quarter, said there was positive news from their company in the past six months, such as the option to work remotely, wear casual clothes or have flexible work hours. Among those who reported positive actions, 37 percent said their companies restored health and dental benefits or pay and perks that had been cut.
"While employees are hopeful for the future of their company’s business outlook, they remain cautious as to how that optimism will impact their financial stability," said Rusty Rueff, Glassdoor career and workplace expert. "In addition, that sense of stability is often influenced by powerful external factors — like economic news and layoff rumors — and as a result, today's work force is feeling increasing productivity pressure."
The study found that national and regional economic news, new government legislation and indecision among lawmakers in Washington are among top external factors influencing confidence in employees' personal employment situation.
The research was based on surveys of more than 2,000 U.S. adults over age 18.