New findings from the Glassdoor UK Employment Confidence Survey1 reveal that under a third of female employees2 (29 percent), receive any form of bonus as opposed to 44 percent of men. Furthermore, a greater number of women (37 percent) are reliant on company performance to earn a bonus compared to men (27 percent). In addition, the vast majority of men who normally receive a bonus (75 percent) still expect to get one this year, however only 61 percent of women feel the same way. The figures show that most bonuses are typically awarded in either December or April.3
The Glassdoor UK Employment Confidence Survey tracks four core indicators of employment confidence including: salary expectations, job market optimism, business outlook and job security. As a supplement to the core report, Glassdoor looked to understand how bonuses were being awarded as well as gauge expectations around future bonuses.
“The Glassdoor survey findings offer a powerful reminder of the importance of pay transparency vs just salary transparency and that a compensation package can be more than just an annual salary or hourly pay rate. It’s unfortunate to find yet again another case of disparity between men and women in the workplace,” comments John Ingham, Glassdoor career and workplace expert, “The survey also offers some curious alarm bells as employees start to worry more about job redundancy despite growing confidence in business outlook. There is a disconnect because employees think the outlook for their business is positive, yet they and their colleagues could lose their jobs. This could be reflective of micro situations within an organization, whereby the performance and outlook for different teams, departments and locations does not reflect that of the business as a whole.”
Additional highlights from the Glassdoor Survey include:
- Business outlook: Nearly two in five (39 percent) employees believe that business outlook will improve over the next six months – a high since the UK study began in Q1 2014. Of that, 44 percent of men have a positive outlook, compared to just 33 percent of women. Approximately one in ten (12 percent) employees believe things will get worse at their company
- Salary expectations: At the highest point since Q2 2014, 37 percent of employees believe that they will receive a pay increase within the next 12 months, which is also a 3 percent increase on previous quarter. The most pessimistic region for a pay increase is across the North West (32 percent), with employees based in the East of England most optimistic (46 percent).
- Job Security: Nearly a third of employees (32 percent) are concerned that they will be made redundant over the next six months, however this is up from 21 percent in Q114 when the UK survey started. When asked if they were concerned about co-workers being made redundant, 44 percent agreed – a high since Q114. In the last six months, nearly half of all businesses in the UK that had made negative changes in the workplace (49%) have made employees redundant/and or communicated plans to implement further redundancies.
- Job market optimism/Re-hire probability: Approximately one in three (32 percent) employees believe that if they were made redundant they would be able to find a new job that matches their skills and experience within the next six months, down two percent on previous quarter. Of those currently unemployed, only 30 percent believe they will find a job over the next six months - down 10 percentage points on the previous quarter. However this is an improvement since Q1 2014, with a figure of just 25 percent. Slightly more men (33 percent) than women (29 percent) feel confident that they will find a new job. Nearly half (49 percent) of 16-24 year olds feel confident of finding a new job matching their experience in the next six months compared to just 20 percent of those in the 55+ range.
www.glassdoor.co.uk
1 The Q3 2015 survey of 2,027 people, among whom 980 are employed full-time/part-time, was conducted online within Great Britain by Harris Interactive on behalf of Glassdoor from 21/09/15 to 25/09/15. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact pr@glassdoor.com.
2 For the purposes of this study “employees” were defined as GB adults 16+ employed full time and/or part time unless otherwise indicated.
3 Q3 2015 survey states that 20 percent of employees receive bonuses in December and 16 percent in April.