25.01.2021

Job losses and pay cuts the biggest worry for UK workforce in 2021

Research by Ezra, one of the leading global providers of digital coaching, has found that the threat of losing their job continues to be the number one worry for the majority of people in the UK.

Ezra surveyed nearly 18,000 people on their current feelings around work and the ongoing pandemic.

The good news is, that for 77% of those asked, the ongoing threat of Covid-19 is yet to prevent them from progressing in their career.

The latest gov data shows that so far, a huge 9.9m people have been furloughed from their place of work at some point since April of last year. While the scheme has enabled many people to retain their jobs albeit, at a reduced level of income, it has also acted as a barrier for career progression for those unable to work due to the restrictions of being on furlough.

No surprise then, that 46% of those that said Covid has impacted their career progression stated it was due to being furloughed.

A further 19% have seen promotions in the workplace delayed due to Covid, with 18% becoming unemployed and 17% unable to take a new job due to the pandemic.

When it comes to those impacted financially, 49% have had to take a pay cut while 51% have seen a planned payrise delayed or cancelled altogether.

Of course, it could be worse and those to retain their job are luckier than most. However, this doesn’t stop the current landscape causing them to worry about their professional life and it’s easy to see why with an estimated 200,000 already losing their jobs due to Covid.

59% of those in work stated they were worried about losing their job in 2021, while a pay cut was a worry for 24%. Being furloughed also remains a worry for 14% of people, with just 3% worried about a demotion.

Founder of Ezra, Nick Goldberg, commented: ”Medical issues aside, the current pandemic has seen many people suffer from a professional point of view. Although the impact has been felt at varying levels, swathes of the nation have found themselves out of work or on furlough and this is a worry that continues to linger for those lucky enough to remain in their role so far.

While the vaccine will bring a large degree of hope that 2021 may bring some level of normality, it will be some time before we see all areas of the working world return to full health, and some may never bounce back.

The good news is, at least, that for those who remain in work, the opportunity to progress has been largely unhindered for the majority.”

Survey of 17,661 UK people currently in employment carried out by Find Out Now (January 15th 2021)

Has Covid-19 prevented you from progressing in your career?
Answer	Totals
Yes	23%
No	77%

If yes, how has Covid-19 impacted your career progression?
Answer	Totals
I've been furloughed	46%
A promotion has been delayed	19%
I've become unemployed	18%
I've been unable to take a new job	17%

How has Covid-19 impacted your career progression?
Answer	Totals
Pay cut	49%
Pay rise delayed or cancelled	51%

Which of the following are you worried about in the current Covid-19 Pandemic?
Answer	Totals
Losing job	59%
Pay cut	24%
Being furloughed	14%
Demotion	3%