According to an exclusive new study from the UK’s leading independent job board, CV-Library, the majority (53.2%) of Brits are worried about losing their job during the coronavirus pandemic. What’s more, three-quarters (77.2%) of workers on furlough have expressed concerns that there may not be a job available for them once the scheme is over.
The study surveyed 1,408 UK professionals and found that those aged 45-54 (60.6%) and 25-34 year olds (53.8%) are the most concerned about job security, while 18-24 year olds (50%) and under 18s (33.3%) are the least. Alongside this, those living in the West Midlands (68.3%) are also the most worried, followed by workers in London (66.3%) and the South East (63.8%).
The industries where professionals appear most nervous include sales (75%), administration (74.2%), leisure/tourism (71.4%), automotive (69.2%) and IT (64.7%). On the other end of the spectrum, the industries with the highest percentage of workers stating that they AREN’T worried about losing their job include retail (64.7%), the public sector (52.4%) and medical (45.5%).
The study went on to ask respondents whether they believe the company they work for will suffer due to COVID-19, with 54.5% of workers believing that it will. This figure was highest amongst workers in automotive (81%), hospitality (75%), marketing (71.4%) IT (70.8%), construction (66.2%), leisure/tourism (63.2%) and recruitment (62.5%).
Lee Biggins, founder and CEO of CV-Library, comments: “We’re living in very strange times and this is impacting people at all levels. The government is doing its best to get the economy moving again, but this is going to take time and a lot of professionals are struggling with the uncertainty. Indeed, our data shows that the majority of people who are still working or on furlough are worried about job security and whether their employer is even going to weather the storm.”
Amongst workers who have been placed on furlough, many are concerned that there may not be a job available to them once the government scheme ends. The findings suggest that:
- Women are more worried than men about not having a job once furlough is over (81% of women vs 73.8%) of men
- Those aged 25-34 years old are most worried (88.1%), vs 68.2% of 18-24 year olds and 33.3% of under 18s
- Hospitality (90%), design (88.9%), engineering (85.7%), retail (85.7%) and manufacturing (71.4%) professionals are most concerned
Biggins continues: “We know that some industries are going to suffer more than others and we’re expecting to see a real shift over the next 12 months in terms of what people want and need from their job; especially in the absence of pay rises and promotions. Following such an uncertain period, more professionals will want to work for employers that can offer some sense of job security, especially as the pandemic will have a long-lasting impact on the UK economy.”