Employees more confident than ever in global job market
In fact, confidence in the broader business environment rose three percent in Q4. As workers feel more empowered to seek out new opportunities, employers must focus on strategies to keep their top employees committed and engaged.
Despite the recent political and economic uncertainty in the U.K. and U.S., Europe and North America had the most notable increases in employee perceptions of job opportunities – hitting a six-year and two-year high respectively.
Job seeking also increased significantly in several geographies. The U.S. and Germany experienced a jump of more than seven percent in job-searching behavior, while India, Canada, the U.K. and Japan all experienced an increase of more than five percent.
Along with rising confidence in external opportunities, data from CEB's Global Talent Monitor suggests that employees are less satisfied with their current jobs.
In fact, employees going above and beyond continues to decline – a trend since mid-2013 – and fewer intend to stay in their current roles over the next 12 months.
Though global confidence in the labor market is improving, it is not distributed evenly, as noted by the disparity in the perceptions of men and women in the U.S.
While 29 percent of men believe that President Trump's policies will improve compensation, benefits, and career opportunities, only 19 percent of women agree.
Confidence is not evenly distributed among industries either. Employees in the oil & gas, mining and manufacturing industries expect the biggest positive impact, while employees in media, education and non-profits expect a negative impact.
Despite concern that uncertainty around Brexit would cause a nationwide hiring freeze, the perception among U.K. employees that the local economy is improving has boosted job-seeking activity.
Employee perceptions of job opportunities in the U.K. rose by four percent in Q4, and one-in-five workers are more positive about their career prospects.
At the same time, levels of intent to stay have dropped to 24 percent, the lowest point since 2014, suggesting that workers are actively looking for jobs in other organizations. ■