Workers fear job losses, but still pull sickies
One-in-five workers in the UK fear they could lose their job, research from the Chartered Institute of Personnel and Development (CIPD) shows. 20% of all employees believe it is 'likely' they could be made redundant soon while in the public sector a whopping 31% are fearful of getting the chop.
Watch video: How to negotiate redundancy.
The survey showed the standard of living for most workers has also fallen with almost a third of the 2,000 workers surveyed claiming their standard of living had got worse over the last six months. Only 10% claimed it had improved.
The CIPD also found that more than half of employees report their organisation has either frozen pay (46%) or cut pay (7%), while the situation was even worse in the public sector, with 63% seeing a freeze and 6% a cut.
And it seems the stress of potential job losses and pay freezes are not the only things lowering staff morale.
The long wait for a summer holiday, the fact the cold dull weather does not seem to be abating and the credit card bill hangover from the festivities all mean Monday 7 February is the day most workers are likely to call in sick. The worst flu outbreak in years is also an issue.
Experts at business advisers ELAS claim as many as 35,000 workers will pull a sickie today, at a cost of more than £32 million to the economy.
Ben Willmott, CIPD senior public policy adviser, CIPD, said: "With employees feeling the pinch financially, concerned over their job security and with fewer opportunities to move up or move on, employers need to deliver consistently high quality leadership and management on the front line. How managers communicate, consult and coach and develop staff is critical."
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.