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UK ‘living crisis’ hits workplaces: Professionals ready to march amid growing personal pressures

EMPLOYERS warn that a third of professionals are ready to walk amid growing pressures caused by the cost of living crisis.

Employers urged to do more pre-emptively before staff reach ‘crisis point’

  • Only 1 in 4 white-collar workers earn enough to justify savings as the cost of living rises
  • 8% of professionals use a “side hustle” to manage the cost of living
  • 30% believe that working from home has had a negative impact on their mental health
  • More than half of professionals say a company’s values ​​need to align with their own in a post-covid world
  • 62% of professionals would turn down a job offer from a company with weak ED&I credentials

A third of white-collar professionals said they are “very likely” to leave their jobs in the coming months unless more understanding and assistance is directed towards personal issues that impact their work.

According to research conducted by global recruiter Robert Walters, there are three major “life crises” that will further drive the big shakeup and that companies need to tune in to in order to attract and retain talent:

  • Rising cost of living
  • The ‘ticking time bomb’ of post-pandemic mental health
  • Goal before Profession

Toby Fowlston, CEO of Robert Walters, said: “Just because hybrid and remote working has become more prevalent doesn’t mean the role of the workplace isn’t equally necessary.

“In our lifetime, we would have spent a third of our time at work – and so employers really have a role to play in ensuring the well-being of their staff.

“Companies need to be more attuned to the issues that affect their employees if they want to avoid the ‘big shakeup.’

“The crucial act here is for employers to listen and take an active role in mitigating some of the personal issues in employees’ lives before they reach that irreversible ‘crisis’ point.”

Cost of life

According to a survey of 6,000 professionals by Robert Walters, 48% feel their pay doesn’t accurately reflect the work they do, and a further 45% say they feel underpaid.

Asked about salary in relation to the cost of living, only 5% said they have a generous disposable income – the vast majority (41%) saying they live reasonably to cover their cost of living – and slightly more a quarter earn enough to justify savings. Worryingly, nearly one-fifth (14%) of white-collar workers live “paycheck to paycheque”.

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