Nearly half (47%) of Brits are worried about losing their job, a study shows.
To decrease the chance of becoming jobless, 31% of employees are continuing to work unpaid overtime.
The research, by employment experts Citation, also found that it is not just workers that are worried about their future.
78% (almost four out of 5) of business owners are worried about what could happen to their business.
It’s understandable given many entrepreneurs have seen a 22% decrease in profits on average since the cost-of-living crisis. One in four (25%) also believe that soon their business will be smaller or struggling to survive.
The biggest challenges that owners face are the rising cost of power and fuel (53%), rising wages (47%), rising costs of services like broadband (34%) and the rising cost
of rent and mortgage (30%).
With the cost of having office spaces, owners are considering ways of decreasing their bills.
In the building, 38% will turn down the heating and 36% would switch off some lights. Others will get staff to work from home (28%) or move to a smaller premise (17%).
Gill McAteer, director of employment law at Citation, said: It’s important to be honest with employees, particularly in difficult times. When trading conditions are difficult, employers will often become so consumed with their own concerns that they forget to speak honestly and directly to their workforce, which leads to speculation, worry and demotivation.
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