74% feel unsupported as wages aren’t keeping up with increasing cost of living
In CV- Library’s survey of over 4,000 workers by website, it was revealed that 89% of employees either don’t know whether they will receive a pay increase or have already been told that they won’t receive one.
With increasing pressure on budgets and wages not matching the increasing cost of living, the study found that only 11% of employees know that they will get a pay rise. Eighty-one percent believe that the topic is being ignored, and 8% already know that they will not receive a pay increase.
As a result, almost 74% feel unsupported and believe that their employers are unsympathetic regarding the rising pressure on household budgets.
Lee Biggins, CEO and founder of CV-Library comments: “There is no doubt that rising costs and global uncertainty are beginning to impact the job market. Whilst businesses need to balance their own increased costs with the salary needs and expectations of their staff, it’s vital that they take action and at least open lines of communication with their employees.”
“With unfilled vacancies still high it will be tempting for professionals to look elsewhere if they don’t have any clarity and continue to feel unsupported. We’re beginning to see evidence of this with number of new CV’s registered on CV- Library last month up 13.4% year on year.”