PHILADELPHIA, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Following a small decrease during the first three months of the year, COVID-19 precipitated in Q2 2020 the biggest quarter-over-quarter decline in the six-year history of the national Worker Confidence Index™ (WCI), a survey of U.S. workers from HRO Today Magazine and Yoh, the leading international talent and outsourcing company owned by Day & Zimmermann. The Index gauges full-time workers’ perceptions of the four key aspects of worker confidence: the perceived likelihood of job loss, the perceived likelihood of a promotion, the perceived likelihood of a raise, and the perceived overall trust in company leadership.
In the second quarter of 2020, the WCI fell by a record 18.8 points to 93.6. This marked the third consecutive quarter of decline and the lowest point the Index has reached in four years. Since the beginning of 2020, the WCI has dropped by a combined total of 23.1 points amid the COVID-19 pandemic. For the quarter, all four of the indices that comprise the WCI declined, with the likelihood of a promotion decreasing the most, down 21.3 points to 93.5, the lowest on record. Perceived job security fell nearly as much, dipping to 80.6 in Q2 2020 from 98.3 in Q1 2020. On a monthly basis, all four indices bottomed out in the month of May, with all but the trust in company leadership Index dropping under the baseline of 100 points.
“As the U.S. moves forward in the COVID-19 world, companies will likely have more challenges knowing when to hire workers back, engaging them during these slow and uncertain times, and keeping key positions filled as talent in critical areas is still stretched thin,” said Kathleen King, Senior Vice President, Enterprise Solutions, Yoh.
“And while many businesses are finding that remote work can be done without much reduction in worker productivity, it will be incumbent on leaders to monitor worker satisfaction and confidence more than ever as the lack of face-to-face connection will no doubt continue for some time.”
Other takeaways:
To view the entire study, please visit http://www.yoh.com/hro-today-employee-well-being-study.
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