2 in 3 would take a pay cut to save their company

Press Release : April 14, 2010
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New nationwide research conducted by the UKs only recruitment agency review site has revealed that nearly 3 in 4 workers would have taken pay cuts or worked less hours during the recession in a bid to save their company.

http://www.HireScores.com polled 1,298 people to see how far people would have gone during the recession in order to keep hold of their jobs and save their company. Of those who would make a compromise, 63% said that they would have been willing to take a pay cut in order to save their company if the recession had affected the business financially.

Of those who said they would take a cut, 1 in 5, 21% said that they would have taken a cut of up to 5% if it meant they could stay in their current employment. Half said that they would be willing to take a 2% decrease in their wages, with only 1 in 10 people claiming they would allow a 10% decrease. Of the people that said they would take a pay cut, half said they would only do so if their boss were to take one too.

61% of those polled said that they would be willing to do more hours for no extra money in an attempt help out their employer. 4 in 5 who believed that this would help their company said that they thought it would eliminate the need for the employer to hire temps or extra staff to cover the workload.

The top things employees would have done to save their jobs and company during the recession are:

1. Take a pay cut 63%
2. Work over time for no extra money 61%
3. Work less hours 52%
4. Go without annual bonus 46%
5. Print less 39%
6. Unpaid leave 37%
7. Give up their company car 35%
8. Give up their work phone 33%

Of the 26% workers who said that they wouldnt make an allowance in order to help their employer out, 1 in 3, 34%, said that they didnt care about the job that they had. Half, 49% said that they were unable to make any changes to their working hours or pay due to their living commitments, whilst 17% said that they didnt like their boss enough.

Lisette Howlett, Managing Director of HireScores.com said;

I think it is great that so many of those in employment are willing to make compromises in order to save their company, such as taking pay cuts, cutting down on hours and by taking unpaid holiday. This level of support should give many companies the confidence and ability to work their way through the recession.

She continued;

It is interesting to note how much more willing people became if their boss did something first, which says quite a bit about the importance of strong, authentic leadership during challenging times. Also interesting is the number of people who were not willing to make a change who stated that this was because they did not like their boss enough.

***ENDS***

Link: http://www.HireScores.com

Gabrielle Lofthouse, 10 Yetis PR
Tel: 01452 348 211
E: gabrielle@10yetis.co.uk
T: @Gabriella_PRowl

Note to Editors

About HireScores.com:

HireScores.com website is totally independent and not linked to a job board or recruiter which makes it ideally placed to provide such information
HireScores.com is committed to fair feedback with checks and balances in place to support this
Free to use for all with a strong and growing knowledge centre, Blog and Forum
Lisette has over 20 years industry experience with such firms as ICI,
Zeneca/AstraZeneca and Syngenta as well as local government and the public sector.

Notes to editors

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