Majority of finance professionals are worried about losing their job
According to an exclusive new study from the UK’s leading independent job board, CV-Library, the majority (56.5%) of finance professionals are worried about losing their job during the coronavirus pandemic.
The study surveyed 1,408 professionals and found that 4.7% of finance professionals were on furlough, 53.5% were still working and 41.9% were unemployed. It reveals that a staggering 90% of finance professionals who are on furlough have expressed concerns that there may not be a job available for them once the scheme is over.
Lee Biggins, founder and CEO of CV-Library, comments: “We’re living in very strange times and this is impacting people at all levels. The government is doing its best to get the economy moving again, but this is going to take time and a lot of professionals are struggling with the uncertainty. Indeed, our data shows that the majority of people who are still working or on furlough are worried about job security.”
The study went on to ask respondents whether they believe the company they work for will suffer due to Covid-19, with 52% of finance professionals believing that it will. This was lower than the national average, where a smaller 54.5% of Brits felt this way.
Biggins continues: “A high volume of professionals in the finance industry don’t know whether their employer is even going to weather the storm and some organisations are going to suffer more than others. As a result, we’re expecting to see a real shift over the next 12 months in terms of what people want and need from their job; especially in the absence of pay rises and promotions. Following such an uncertain period, more professionals will want to work for employers that can offer some sense of job security, especially as the pandemic will have a long-lasting impact on the economy.”