“Our data points to an economy that has made substantial strides in recovering from the pandemic, but is now facing strong headwinds,” say Daniel Zhao, lead economist and senior manager on Glassdoor’s Economic Research team, and Lauren Thomas, economist and data scientist at Glassdoor. “Industries like tech that exploded during the pandemic are now facing a hangover as employees report waning confidence in their employers’ business outlook.”
Employee confidence varies across seniority levels at American employers. While 68.4% of directors and executives report a positive business outlook for their employees, just 50.4% of mid-senior level employees and 52.1% for entry level employees do the same.
“Notably, employee confidence has diminished much more for mid-senior level employees, falling 6.2 percentage points year-over-year as of July 2023, than for either directors and executives or entry level employees which both have seen little change over the last year (-0.1 percentage points),” say Zhao and Thomas.
Remote employees’ connection with their organization’s mission and purpose has hit a new low in the second quarter of 2023, according to a previous report. Overall, only 28% of employees strongly agree that their company’s mission or purpose is making their job feel important.
Confidence difference by sector
