Job loss fear

Fear of job losses is on the increase amongst UK workers, according to the latest edition of the Global Career Confidence Index published by Right Management Consultants.

Fear of job losses is on the increase amongst UK workers, according to the latest edition of the Global Career Confidence Index published by Right Management Consultants, represented in the UK by RightCoutts.

The survey, a benchmark of job security, has found that almost one quarter (23 per cent) of UK employees believe that there is a chance they will be made redundant in the coming year, up four per cent from 19 per cent in November 2004.

However, despite a lack of confidence when it comes to keeping their jobs, the UK workforce is increasingly positive about finding employment following redundancy. Sixty nine per cent of employees currently believe that it would be difficult to find alternative work of a similar grade, down from 73 per cent in November 2004.

Jo Bond, managing director, RightCoutts, comments, “Often, events in the media prompt employees to reassess their own job security and their potential to bounce back from redundancy.

UK employers must take this opportunity to retain their top workers, allaying their concerns by communicating with them openly and honestly about how their jobs align with ongoing business strategy.”

Global career confidence has increased once again, up 1.5 points from 51.2 in November 2004 to 52.7 this May. The UK mirrors this average, with a score of 52.7, contrasting with Norway, which tops the table with 63.2 points, and Germany, with the lowest score of 43.1. Although career confidence has increased in the US, Americans still fall behind the global average, with a score of 49.7.

Across Europe, Norwegians were most confident that they would stay in their jobs, with only four per cent expressing redundancy concerns. They were also amongst the most secure when it came to looking for alternative employment, with only 65 per cent worried about their ability to bounce back following redundancy.

In contrast, 27 per cent of Belgian workers believe that they risk redundancy over the following year, and a staggering 97 per cent of Germans are concerned about finding employment if they were to be laid-off.

Confidence amongst US workers is on the up, with only 19 per cent of workers believing that they might be laid-off, down four per cent from 23 per cent in November 2004. However, workers in the US are slightly more concerned about their ability to find alternative employment, with 80 per cent voicing concerns, in comparison with 79 per cent in November.

Jo Bond adds, “Globally, career confidence has been rising steadily over the past 18 months, and we’re seeing the results of this in the UK, where employee confidence has increased for the 5th consecutive survey.

“While high profile redundancies might cause a few wobbles amongst UK employees, the overall figures show that the British economy is in good shape and, more importantly, that employers and employees alike are aware of redundancy as an issue, and are really thinking about managing their career. ”

The Global Career Confidence Index questions employees from eighteen countries, bi-annually, about their confidence that they will keep their current job for the next twelve months, and their ability to find similar employment if they were made redundant.

The Career Confidence Index is conducted by Right Management Consultants twice a year to measure career confidence among fulltime workers around the globe. The Index is based on telephone interviews with a random sample of 300 – 1,000 fulltime workers. These results are based on interviews conducted in March and April and have an average error margin of +/- 4.31 points.

The fieldwork was coordinated by ICR-International Communications Research of Media, Pa.