With pressure mounting on household budgets and wages failing to keep pace with the soaring cost of living, the latest survey by the UK’s leading independent website, CV- Library, reveals that the majority of UK professionals (89%) either remain in the dark over their pay, or they’ve already been told that there will be no pay increase at all in 2022.
The study, which surveyed more than 4,000 workers, revealed that only 11% of workers have been informed that they will be getting a pay rise this year, with 81% reporting that the topic is being ignored and 8% knowing for sure that they will not be getting a pay increase.
In light of this, an overwhelming 73.5% feel unsupported and that their employer is being unsympathetic to the mounting pressure and impact of rising costs upon staff.
This news comes as the latest monthly job market data is revealed. Impacted by Easter and school holidays, both job postings and applications were down on the previous month. With a drop of -13.4% and -12.8% respectively, applications to jobs remined more stable.
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.”
Biggins continues: "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.”
