JOB LOSS FEARS AS RECESSION LOOMS
Almost one in three employees fear losing their job as economic news worsens and recession looms across Britain. Over a third of staff in British organisations are seriously considering moving within or beyond the UK to find work as a result. These are the key findings from a new YouGov survey of close to 1,500 employees across the country.
Workers across all geographical areas and business sectors are voicing major concerns as an increasing number of companies publically reveal the impact of the economic down turn:
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Almost one in two employees (48%) fear that they will not receive a pay rise
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Close to four in ten (37%) staff believe there will be a lack of job opportunities as the economic screw turns
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A third of those surveyed (33%) fear a reduction in their earnings
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Just under a third of British workers (30%) personally fear losing their job.
As the economic horizon darkens, significant numbers of workers are seriously considering taking drastic action as a result. The YouGov survey found that:
- Over one in three employees would consider either moving to work abroad (24%) or elsewhere in the UK (11%)
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Over three in ten workers (31%) are now considering taking a second job
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One in five of those in the workforce (21%) are considering changing career
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Just under one in five (18%) are now considering doing flexible or part-time work.
Dr. Andy Brown, managing director of Organisational Consulting at YouGov, said: “These results show how quickly employees are responding to the nose-diving British economy.
“Fears around job losses, stagnating wages and poor job opportunities have risen very sharply in the past few months. But in a positive response, many British workers seem prepared to get on their bike to find work or to flex their working patterns to supplement their pay. The challenge now is for British companies to find the best ways to leverage this new flexibility”.
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