Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsEconomics, government & businessLabour marketPay & benefitsPay structures

Pay squeeze hits UK jobseekers as economic uncertainty tightens purse strings

by Gareth Vorster 21 Feb 2008
by Gareth Vorster 21 Feb 2008

As the credit crunch continues to tighten its grip, nearly half of UK workers switching jobs or returning to the jobs market after redundancy are being forced to accept lower pay as they enter new positions.

A global survey of 17,222 people including 1,557 UK respondents, conducted by HR consultancy Right Management, found that at the start of 2007, seven in 10 UK respondents going through redundancy, landed a job with equal or higher pay to their previous position. However, in December last year, this figure dropped to 56%, with more than four in 10 respondents accepting a job on lower pay.

The average applicant required five interviews to secure a new job in December against an average of 3.68 interviews throughout 2007. Globally, employees attended an average of 4.78 interviews before finding a new position in 2007.

Despite this negative outlook, more employers are planning to take on staff (13%) than reduce headcount (6%), with eight in 10 businesses expecting to make no changes to staffing levels.

Tony Martin, general manager at Right Management, said: “A slowing job market is always worrying news for employees, and as the UK enters a period of economic uncertainty we can expect more redundancies in the coming year.

“Despite this predicted downturn, we expect the long-term outlook to be more positive for employees, with the skills shortage encouraging employers to retain their top talent,” Martin said.




Avatar
Gareth Vorster

previous post
Compulsory work scheme to force ‘benefit junkies’ back into the workplace
next post
Jobs boom at Asda as supermarket announces further expansion plans

You may also like

Hiring boom set to slow as employers come...

15 Aug 2022

Are you a ‘quiet quitter’?

12 Aug 2022

July saw highest number of job adverts for...

12 Aug 2022

Transport sector recruitment ‘should be overhauled to improve...

12 Aug 2022

Liz Truss comments on Civil Service dismissed as...

12 Aug 2022

Hot summers, hot desks – employment law advice...

12 Aug 2022

Sharp rise in firms offering enhanced parental leave...

11 Aug 2022

Working in a heatwave: what should employers consider?

11 Aug 2022

Zero-hours contract benefits ‘can outweigh negatives for workers’

11 Aug 2022

Nearly 14,000 whistleblowing reports of furlough fraud received...

11 Aug 2022
  • 6 reasons why work-based learning is better than traditional training PROMOTED | A recent Fortune/Deloitte survey found that 71% of CEOs are anticipating that this year’s biggest business disrupter...Read more
  • Strengthening Scotland’s public services through virtual recruiting PROMOTED | This website is Scotland's go-to place for job seekers looking to apply for roles in public services...Read more
  • What’s next for L&D? Enter Alchemist… PROMOTED | It’s time to turn off the tedious and get ready for interactive and immersive learning experiences...Read more
  • Simple mistakes are blighting the onboarding experience PROMOTED | The onboarding of new hires is a company’s best chance...Read more
  • Preventing Burnout: How can HR help key workers get the right help? PROMOTED | Workplace wellbeing may seem a distant memory...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+