Future of Work

Despite continuing job market uncertainty, this quarter sees a clear improvement in net employment intentions…

While there is still uncertainty in the jobs market, the figures this quarter show signs that the rate of decline is levelling off. There has been a clear improvement in net employment intentions, which have risen seven percentage points since summer this year.

Nonetheless, intentions to make redundancies remain elevated – with 30% of employers planning to make redundancies in the three months to December 2020. However, it is encouraging to note that employers are using a wide range of tactics to stave off redundancies where possible. These include temporary lay-offs or furloughing staff (41%), redeployment (37%), recruitment freezes (32%), freezing or delaying wage increases (29%), cutting bonuses (29%) and terminating temporary worker or agency worker contracts (27%).

With the furlough scheme now being extended from November, employers will have further Government support to help save jobs and potentially protect employees from redundancy

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