Team4you support the workforces of many businesses within the manufacturing, production and fast-moving consumer goods sectors at the shopfloor level. This puts us in a good position to understand what concerns UK workers as we go into the new year.
Don’t be tempted to squeeze your workforce in all the wrong places.
In a recent study, over a third of UK workers say the cost of living is compelling them to consider changing sectors to secure higher pay. Staff retention is key to keeping productivity high. More importantly – training and recruitment costs are kept low with fewer new starters. Ensuring your staff feel valued and have support for the basics will reduce the appeal of an uncertain job change.
What do the workers say?
Your workforce will currently have the following outlook for the next 12 months –
They expect their pay to shrink in real terms – with inflation hitting double figures, very few workers believe they will see this increase in their pay over the next year.
They know their costs are going to go up – energy, food, transport, clothing – all going in one direction as every industry faces the same issues with their own costs.
Job security is not locked in – When asked why staff believed they were not being awarded a pay rise, the highest reason given by workers was “My employer couldn’t afford to give me one” at 35%.
Other notable responses –
- 80% of employers are concerned about the rising cost of living, alongside 77% of UK workers who are also actively concerned.
- 30% of workers feel their salary does not cover their basic living costs.
- 47% of UK workers consider themselves to be living ‘payslip to payslip’.
- 90% of UK workers have experienced rising work-related costs in the last year.
How to support your workforce for the months ahead
Staff know profits are being squeezed, and that can lead to inevitable job losses. Making sure your staff are supported in their job roles, as well as outside of the workplace can make the difference between a happy or unsettled environment amongst your staff. Team4You operate a community model – providing a point of access for your workforce to access key benefits and advice.
Get in touch with Team4You today to discover how we can work with you to put in place the right environment for your business and its people. Email info@team4you.today, call 01743 627 237 or complete our contact form here to speak with our team.
