Study suggests employee reality setting in
Thu, 09 Jul 2009
Employees are becoming increasingly realistic where pay issues and job responsibilities are concerned as the recession ensues, it has been reported.
Research conducted by Glassdoor.com indicates that 50 per cent of employees report they do not expect a pay rise in the next 12 months, up from 40 per cent in the fourth quarter of 2008.
This is despite 32 per cent predicting that their cost of living will increase over the course of the year.
Glassdoor.com's Employment Confidence Survey also indicates that 71 per cent of employees are willing to take on additional responsibility to help their company survive the downturn.
Some 64 per cent of respondents claimed they would be willing to work longer hours, while 42 per cent said they would even accept a reduction in salary.
Younger employees were found to be are most willing to make concessions, in terms of longer hours, reduced pay and giving up holiday time.
Glassdoor.com career and workplace expert Rusty Rueff, said employee sentiment is currently "more conservative and wary" as the reality of the length of the current economic environment sets in.
He added: "We all know industries and businesses are struggling to stay afloat in today's market and employees appear more sensitised to that, levelling expectations for compensation and showing a greater willingness to partner with employers and make concessions to keep their jobs versus being thrust into the open job market."
Last month, Aviva's latest healthcare report found that six in ten workers are feeling more stressed out and under pressure as a result of the economic climate.
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