A recent report by CareerWallet has highlighted that as employees across the UK are being impacted by the cost-of-living crisis more than one in 10 (14%) have had to find a second job.
The primary reason for this is to supplement their incomes and cover the huge increase in costs on bills, food, petrol and many other essential outgoings.
The extensive survey also showed that over a third (34%) of all employees are currently looking to move jobs which amounts to over 10 million employees in the UK.
This huge shift is being driven predominantly by individuals looking for higher salaries as 37 percent admit they want to leave because they feel they are not paid enough.
The results of the survey should be concerning for employers across the UK as it highlights nearly a third of the workforce is unhappy or underpaid in their current role and for many businesses losing key employees can have huge impacts, especially with vast skill shortages across many industry sectors.
Craig Bines, CEO of The CareerWallet Group, commented:
“Our new workplace survey highlights how many employees are struggling financially at the moment as rising bills and inflation start to bite. It is hugely concerning to see that 14 percent of the nation’s workforce is having to find a second income just to cover living costs and this will certainly have an impact on recruitment this year.
“Recruiting is tough at the moment and the results of our survey suggest it is only going to get harder. Finding the right employees can be hard, so businesses need to look after their staff now more than ever.
As we can see many candidates will be looking to move jobs, especially as it is the start of a new year and in this buoyant job market, plenty of roles are available. At CareerWallet we have millions of vacancies available across the UK, so it is an ideal time to register and find your next position.”
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
