Employee confidence in the long-term economic prospects for the UK has declined for a third quarter in a row, according to findings from resea
Employee confidence in the long-term economic prospects for the UK has declined for a third quarter in a row, according to findings from research and advisory firm Gartner.
The findings, released this week, reveal employee confidence in near-term business conditions and long-term economic prospects in the UK plunged seven percentage points below the international index average at 44.6% and 51.6% respectively, while UK business confidence has fallen 15.5 percentage points.
Jobseeking activity among employees decreased by nearly 8%, while professed intent to stay with their current organisations increased 11.4%.
While intent to stay has increased and active jobseeking has decreased, passive job-seeking activity has seen a significant and sustained rise since the Q3 2018. As of Q2 2019, 59.3% of the UK workforce report passively looking for other employment – nearly 10% above the global average of 50.9%.
“With all of the economic uncertainty surrounding Brexit, a previously vibrant UK labour market now seems to be running out of gas,” said Brian Kropp, chief of research for the Gartner HR practice. “Opportunities, rewards and bright business prospects are perceived to be waning. Historically, these sorts of shifts precede a recession, and coupled with the headwinds of a US-China trade war, a global decline may be in the future.”