US worker confidence edges upward despite decline in trust in company leadership: Yoh

August 15, 2022

Yoh’s US Worker Confidence Index edged upward in the second quarter compared to the first quarter as workers felt more secure in their jobs; however, their trust in company leadership fell.

The index is a survey of US workers by Yoh and HRO Today magazine. It gauges full-time workers’ perceptions of four aspects of worker confidence: perceived likelihood of job loss, perceived likelihood of a promotion, perceived likelihood of a raise and overall trust in company leadership.

Its reading for the second quarter was 103.4, up from the first quarter’s reading of 101.9.

Still, the index is down year over year from its reading of 111.7 in the second quarter of 2021.

“As we have seen over the past two-plus years, Americans continue to remain wary about their employment and job prospects coming out of the pandemic,” Yoh President Emmett McGrath said.

The “perceived job security” portion of the index rose to a reading of 96.4 in the second quarter from 85.3 in the first quarter. On the other hand, “trust in leadership” fell to a reading of 98.5 in the second quarter from 105.5 in the first. Trust in company leadership had not fallen below 100 points since the third quarter of 2017.

“Perceived likelihood of a promotion” and “perceived likelihood of a raise” saw modest increases and decreases, respectively. Perceived likelihood of a promotion jumped 2.0 points to 115.5 in the second quarter from 113.5 in the first. Perceived likelihood of a raise fell 1.0 point to 103.2 in the second quarter from 104.2 in the first.

The Great Resignation has not come from workers simply finding better jobs or leaving for higher wages, McGrath said. And a significant part of the heavy turnover is from workers who are dissatisfied with company leadership.

“As we move forward, it’s imperative that leaders take a more active role in monitoring their workforce’s expectations, identify issues and make necessary changes to assure workers that leadership is looking out for their best interests,” McGrath said.


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