Benefits October 3, 2002

Gallup-UBS Employee Confidence Index Up in September

October 3, 2002 (PLANSPONSOR.com) - Despite the lingering weak job market and wild gyrations still rocking Wall Street, employees' confidence level in the present and future conditions of their companies actually went up in September, according to a regular poll.

Reported by

Fred Schneyer

The Gallup/UBS Employee Outlook Index ended the month at 66, up eight points from August – the first hike since June. The index uses a benchmark of 72 at its April 2002 launch.

According to the Index, 72% of those surveyed rated their boss as either “Excellent,” or “Good to Work For.” Additionally, 74% of those surveyed said that their boss is doing an “Excellent,” or “Good Job,” for their company.

When asked about job stress and its root causes, 54% of respondents report that “Demands of the Job Itself,” is the largest contributor to work-related stress. The “People you Work With” ranked second among stress factors at 20%, compared with 10% who cite “Their Boss” as the leading cause of stress.

Notably, employees express greater confidence in their company’s short-term future with 42% saying that they are “Extremely Confident” that they will continue to have their job for the next 12 months and an additional 35% reporting that they are “Very Confident” in keeping their jobs over the coming year.

However, more than half of those surveyed, 56%, describe the current job market as “Only Fair” or “Poor.”

At the same time, a majority of employees, 53%, expressed optimism about the potential for a pay raise over the next 12 months, with 26% reporting they are “Extremely Confident,” and 27% saying they are “Very Confident.”

The Gallup/UBS Employee Outlook Index was conducted through telephone interviews September 5 – 8, 2002 and September 23 – 26, 2002 with 576 adults who are employed with non-governmental for-profit companies having five or more employees and are 18 years and older.