Glassdoor, a site where people can get an inside look at jobs and companies, including salary details, company reviews, and interview questions, has published their quarterly Employment Confidence Survey.
In the first quarter of 2011, 40% of employees reported their company made changes to the number of staff, organizational structure, compensation and benefits, or other perks in the past six months, which is flat from Q4 2010, down slightly from Q3 2010 (45%) and down 13 points from the year-ago quarter (53%).
More employees reported hiring freezes (34%), job restructurings (17%), bonus reductions/eliminations (17%) and cuts in perks and subsidies (16%) than in recent quarters. While slightly fewer employees reported cuts in health and dental benefits in the first quarter than in the fourth, the rate remains much higher than what was reported in Q1 2010 (17%) and Q109 (15%).
With regards to job security, concerns about layoffs remained flat from the fourth quarter. Employees concerned that they could be laid off in the next six months remained at 17%, unchanged from Q4 and down just one point from the year-ago quarter (18%).
Employee optimism for their company’s outlook retreated two points in the first quarter with 40% of those employed full time, part time and/or self-employed reporting they expect their company’s outlook in the next six months to improve, which is relatively flat from the year-ago quarter (41%) but significantly better than Q109 (35%).
However, more than one in 10 (12%) expect their company’s outlook to get worse in the next six months, which is higher than the fourth quarter (9%) and the year-ago quarter (10%). Nearly half (48%) expect their company’s outlook to stay about the same.
Salary expectations are also bleak. Employee confidence in pay raises in the next 12 months is down slightly (35%) from the fourth quarter of 2010 (36%) and the year-ago quarter. Nearly half (45%) of employees report they do not expect a pay raise in the next 12 months, which is unchanged from the fourth quarter and up slightly from Q110 (42%), while one in five (20%) are unsure.
The Glassdoor.com quarterly Employment Confidence Survey, conducted online on behalf by Harris Interactive, monitors four key indicators of employee confidence in the areas of job security, salary expectations, re-hire probability and company outlook.