Randstad's U.S. Employee Confidence Index rose to a six-month high in March, increasing 3.1 points from February to 57.1. In addition, workers reported the highest level of job security since May 2008, with 77 percent indicating it is unlikely they will lose their positions.
These upticks reveal that American workers remain confident with the workplace, the strength of the U.S. economy, job availability, their potential to find jobs and the future of their current employers.
The rise in Randstad's employee confidence data aligns with other macro-economic indicators that point to positive trends for the overall economy. The Conference Board Consumer Index climbed to 82.3, up from 78.3 in February -- the first reading above 82 since June 2013 and the highest reading since January 2008. Economists note that rising consumer confidence indicates Americans are more upbeat about the economic conditions, including future job prospects.
"In concert with rising employee confidence, we see the workplace tilting toward a candidates' market," said Michelle Prince, SVP of Talent Management, Randstad North America. "This candidate-centric dynamic is reflected both in our index figures and broader economic indicators, and candidates rightly feel confident that 2014 holds professional promise."
Prince also noted that Randstad's transition index, which tracks workers' likelihood to conduct a job search, decreased from 36 percent in February to 33 percent in March. "Although the month-to-month transition number dropped, employers should pay attention that one-third of the workforce is still likely to look for a new job," she said. Prince emphasized that with the employment pendulum swinging toward job seekers, now is an excellent time for companies to focus on retention efforts to boost employee engagement and help retain their best people.
The Randstad research was conducted online by Harris Poll between March 3-5 on behalf of Randstad and included 1,120 employed U.S. adults ages 18 and older. Randstad, the second largest staffing and HR services firm in the world, has tracked workforce trends and published the U.S. Employee Confidence Index since 2004.
