Job satisfaction continues on upward trend

SUNNYVALE, USA: Job satisfaction among U.S. workers was solid in 2009, but pessimism and desperation plague many job seekers who remain grim about prospects for the job market in 2010, according to Yahoo! HotJobs’ survey.

The Yahoo! HotJobs Job Satisfaction and Employer Outlook survey polled 2100 workers, job seekers, hiring managers and recruiters.

Some general findings of the Yahoo! HotJobs surveys include:

* Competition for jobs is getting intense: nearly 40 percent of workers feel it will take more than six months to land a job, and hiring managers report seeing more overqualified candidates applying for jobs. However, the survey revealed some good news, as one in three employers expect hiring activities to increase in 2010.

* Job seekers are willing to do what they have to do to make ends meet, such as take a job beneath their qualifications, take a job that pays less, or take multiple jobs. Employers may witness an exodus of new hires who used these tactics.

"While overall job satisfaction continued on a high note during this year of recession, we're seeing pessimism that suggests workers are learning to just be happy they have a job," says Tom Musbach, managing editor for Yahoo! HotJobs.

"Job seekers and hiring pros don't have high hopes for a job market rebound in 2010, but our survey also shows many companies intend to hire more than they did last year. It's incumbent on job seekers to remain resourceful, persistent, and positive to succeed in getting a job today."

Satisfied for now, pessimistic about what's to come

Satisfaction levels for 2009 have not changed much from 2008. Currently, 38.3 percent are "very satisfied" with their jobs and are not looking to change jobs. In 2008, 38.5 percent felt the same.

This year, 44.6 percent of respondents said they are satisfied with their current job, but would consider a new job if the right opportunity came along, versus 38.2 percent of respondents in 2008.

The remaining group, those unsatisfied and actively looking for new jobs (17 percent versus 23 percent last year) is mostly made up of recent hires. Among recent hires, 34 percent state that they’ve applied for jobs below their qualification level, and 30 percent have accepted a lower salary or fewer benefits.

“For employers, the statistic about unsatisfied recent hires is a warning sign,” says Musbach. “This is the same group that potentially took on the job while sacrificing salary or growth, and these are the people who could leave once the economy turns.”

The survey revealed that 40 percent of job seekers feel the job situation will get worse in 2010, and 35 percent of employers feel the same way. Almost 40% of respondents feel that it will take them more than six months to find a new job.

About 42 percent of hiring managers say they anticipate hiring activity for full-time, permanent employees to stay the same. However, 32 percent expect to see an increase in hiring activity in 2010.