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The study , which surveyed more than 4,000 workers , revealed that only 11 per cent of workers have been informed that they will be getting a pay rise this year , with 81 per cent reporting that the topic is being ignored and eight per cent knowing for sure that they will not be getting a pay increase .
In light of this , an overwhelming 73.5 per cent feel unsupported and that their employer is being unsympathetic to the mounting pressure and impact of rising costs upon staff .
This news comes as the latest monthly job market data is revealed . Impacted by Easter and school holidays , both job postings and applications were down from the previous month . With a drop of -13.4 per cent and -12.8 per cent respectively , applications to jobs remained more stable .
Lee Biggins , CEO and Founder of CV- Library , said , “ There is no doubt that rising costs and global uncertainty are beginning to impact the job market . Whilst businesses need to balance their own increased costs with the salary needs and expectations of
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their staff , it ’ s vital that they take action and at least open lines of communication with their employees .”
Lee added , " With unfilled vacancies still high it will be tempting for professionals to look elsewhere if they don ’ t have any clarity and continue to feel unsupported . We ’ re beginning to see evidence of this with the number of new CVs registered on CV- Library up 13.4 per cent year on year .”
Dan Barfoot is Operations Director for local recruitment consultancy CMD Recruitment which has offices in Bath , Calne , Devizes and Melksham . We asked for his opinion on the current picture . He said , “ Just last week it was quoted in the headlines that there are more open vacancies than unemployed people . This clearly demonstrates the present market and outlines how there isn ’ t an abundance of candidates sat waiting for a new position .
“ With only one in 10 UK professionals having confirmed a pay rise in 2022 , I would suggest companies engage with their staff , speak to them , and head off any worries
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or financial concerns they may have . An employer that shows they care has a higher chance of retaining staff in the long run - even if they cannot offer any further financial increase , they may be able to support from an employee point of view .
“ Another element I feel is very relevant to the current situation is the employees who have taken to remote working and are now considering how they are going to combat the cost of working from home . Perhaps this is an area employers could contribute to ?
“ Alternatively , due to the cost of living and energy rises , you might see some employees wanting to return to the office as it may be more financially cost-effective for them . This will in return affect the employer as with more people on their premises , it could result in higher energy bills for them . It ' s about weighing up the balance and what works for both parties but most importantly , keeping the lines of communication open .
“ How companies react to the cost of living and energy bill increases won ’ t necessarily have an immediate impact but what it will do
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is begin a trend amongst employees . Once the situation settles and returns to normal , employees will have had time to evaluate how they were treated and will no longer be afraid of the uncertainty of searching for a new career as the market is more stable . It ’ s at this time that employees will potentially look for a change . If this trend of thought has echoed across the business , a company could see much more than one or two employees heading for the door . It ’ s upon exit interview that this trend will become apparent and normally have arisen from situations like how employees were treated during covid and all the current inflation rate and energy price increases .”
For more info : www . cv-library . co . uk www . cmdrecruitment . com
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