CCR2 Future Trends
Waying up the financial and health costs
Job losses and pay cuts the biggest worry for UK workforce in 2021
Nick Goldberg Founder, Ezra
Our research has found that the threat of losing their job continues to be the number one worry for the majority of people in the UK. We surveyed nearly 18,000 people on
their current feelings around work and the ongoing pandemic.
Good news The good news is, that for 77% of those asked, the ongoing threat of Covid-19 is yet to prevent them from progressing in their career. The latest government data shows that
so far, a huge 9.9m people have been furloughed from their place of work at some point since April of last year. While the scheme has enabled many
people to retain their jobs albeit, at a reduced level of income, it has also acted as a barrier for career progression for those unable to work due to the restrictions of being on furlough.
No surprise then, that 46% of those
that said Covid has impacted their career progression stated it was due to being furloughed. A further 19% have seen promotions
in the workplace delayed due to Covid, with 18% becoming unemployed and 17% unable to take a new job due to the pandemic. When it comes to those impacted
financially, 49% have had to take a pay cut while 51% have seen a planned payrise delayed or cancelled altogether. Of course, it could be worse and those
to retain their job are luckier than most. However, this does not stop the current landscape causing them to worry about their professional life and it is easy to see why with an estimated 200,000 already losing their jobs due to Covid. In total. 59% of those in work stated they
were worried about losing their job in 2021, while a pay cut was a worry for 24%.
Being furloughed also remains a worry
for 14% of people, with just 3% worried about a demotion. Medical issues aside, the current
pandemic has seen many people suffer from a professional point of view. Although the impact has been felt at varying levels, swathes of the nation have found themselves out of work or on furlough and this is a worry that continues to linger for those lucky enough to remain in their role so far.
Normality While the vaccine will bring a large degree of hope that 2021 may bring some level of normality, it will be some time before we see all areas of the working world return to full health, and some may never bounce back. The good news is, at least, that for those
who remain in work, the opportunity to progress has been largely unhindered for the majority. CCR2
February 2021
www.CCRMagazine.com
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