Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Benefits February 27, 2001
Workers Secure, But Leery
February 27, 2001 (PLANSPONSOR.com) - While most
(73%) of American workers feel secure in their current jobs,
and more than half (56%) feel very secure, a like number
(58%) are taking precautions - just in case.
Reported by Nevin E. Adams
In fact, a third (34%) believe layoffs at their firm would affect them, either directly (20%) or through reduced pay (14%) according to the February 2001 Xylo Report: Job Security Within the U.S. Workforce.
Gender Bender
Women were slightly more inclined to feel very secure than men, 58% to 54%. Nearly half (42%) of men over age 55 feel insecure, compared with just 19% of the women in that age bracket.
Overall, nearly a third (31%) of those over age 55 feel insecure, compared with just 19% of those under age 34.
Of those making preparations for the possibility:
- 26% are saving more money
- 15% are trying to improve their job prospects, either by additional schooling/training, updating their resume, interviewing or checking out the want ads
- 8% are cutting back on their expenses, or increasing income through a second job.