Employee confidence in employers hits 10-year low

Employee confidence in their own employers has dropped to its lowest point in a decade, according to the Glassdoor Employee Confidence Index for September. Only 42.9% of surveyed employees expressed a positive six-month outlook for their company's business, down from 44.5% in the previous month.

The report indicates that employee anxiety is mounting due to concerns over job security, economic uncertainty, and inflation. Mentions of "recession" in Glassdoor reviews increased by 6% year-over-year, while "layoffs" rose by 13% and "inflation" by 22%. Notably, "uncertainty" saw an 84% increase and "AI" a significant 164% rise, signaling growing unease among workers.

The sharpest declines in confidence over the past year were observed in the telecommunications sector, where employee confidence dropped by 14.3 percentage points. Other sectors experiencing significant drops include arts, entertainment, and recreation, as well as restaurants and food service. Factors contributing to the low confidence in telecommunications include recurring layoffs, restructuring, pressure to adopt AI, and unachievable expectations.

In contrast, only three industries showed an increase in employee confidence compared to the previous year: pharmaceuticals and biotechnology, transportation and logistics, and energy, mining, and utilities. While overall employee confidence has decreased, senior employees reported an increase in confidence, whereas entry-level employees continue to face a challenging job market with limited opportunities.