Increased Trust in Company Leadership Not Enough to Buoy Overall Worker Confidence
All but one of the indices that comprise the WCI decreased in Q1. The Likelihood of Promotion Index experienced the greatest quarter-over-quarter fall, dropping a substantial 11.6 points from 125.1 to 113.5. In addition, the Job Security Index dropped 4 points from 88.4 to 84.5, and the Likelihood of a Raise Index dropped 10.7 points from 114.9 to 104.2. The only growth measured came from the Trust in Company Leadership Index, which experienced an improvement of 5.4 points from 100.1 to 105.5, allowing it to remain above the 100-point mark as it has since the start of the COVID-19 pandemic.
“Although positively trending metrics, such as the U.S. unemployment rate, appear to signal an economy rebounding from pandemic-induced instability, this quarter’s disappointing WCI results demonstrate just how precarious this healing process can – and will – be,” said Emmett McGrath, President, Yoh. “Skyrocketing levels of inflation and ongoing volatility in the stock market are clearly weighing heavily on the minds of employees. Now more than ever, employers across economic sectors must find ways to meaningfully support current employees and successfully attract new prospects, especially as the effects of the ‘Great Resignation’ linger.”
To view the entire study, please visit, https://www.yoh.com/hro-today-employee-well-being-study.