A recently published extensive workplace survey* gives a true overview of working life in the UK and how the jobs market is being impacted by economic factors including the cost of living.

The report has highlighted that as employees across the UK are being hugely impacted by the cost-of-living crisis and high interest rates, 9 out of 10 under 35s (91%) would rather their employer use the budget for a Christmas party on staff bonuses instead. This festive period is going to be particularly tough for millions of people in the UK and many employees are unimpressed that firms are still choosing to spend money on lavish Christmas parties.

The extensive survey also showed that for many even in ‘normal’ economic climates the Christmas party is still perceived negatively with 1 in 10 (10%) employees admitting it was one of the things they disliked most about their job with many not wanting to be forced to socialise with superiors and work colleagues. This is not surprising considering the survey also highlighted nearly 1 in 4 (23%) of employees admitted that their colleagues were high on the list of things they loathe most about work.

Craig Bines, CEO of The CareerWallet Group, commented, “Our new workplace survey highlights how many employees are struggling financially at the moment as rising bills and inflation start to bite. For many businesses ‘rewarding’ staff with a Christmas party this year may not be as well received as expected with many focussed on increasing their salaries as much as possible to cover costs.

Many candidates will be looking to move roles, especially in the new year and in this buoyant job market, plenty of roles are available. At CareerWallet we have millions of vacancies available across the UK so it is an ideal time to register and find your next position.”