Almost a third of UK workers have suffered from pay cuts

Around one in three British workers have been affected by pay cuts of up to 4% over the last five years, according to research. The study by Printerland revealed that the average employee hasn’t had a pay rise in two years, with many suffering losses of around £1080 in their annual salary.

The report raises concerns of job security, with many admitting they haven’t been presented the opportunity for career growth in four years, and one in ten being made redundant since 2012.  Pensions, bonuses, overtime and holiday days have been reduced for many across the country as nearly one in five have expressed concerns of not feeling safe in their current employment.

50% of UK employees admitted they regularly do things outside of work, from selling things online to odd jobs and even betting or gambling in attempts to make ends meet. Despite research showing that most Brits have had the same job for around six years, 7% have taken up a second job as a safety net and to aid with everyday expenses. Printerland is concerned that not enough is being done to help people feel safe.

“Businesses and governments alike should do everything they can to ensure their staff feel valued by openly communicating with them, things such as the financial position of the company,” said HR manager of Printerland, Catherine Bannan. “In addition, if staff feel motivated in their roles, this is proven to increase productivity, which can only be good for UK companies.”

13% have had to cut back on necessities such as food in order to make it through the month, and 22% have borrowed money from friends and family to pay their bills. The largest region to take a pay cut in recent years is Northern Ireland, with 41% losing income, although it is also home to the fewest redundancies, at 5%. While urging employers to act, Bannan reminded bosses that action “doesn’t have to mean paying out endless cash bonuses.

“Employees could be offered perks like days off, flexitime, free coffee or shopping discounts, all of which would make for a happier workforce.”