Employees do no believe they are paid fairly

With households feeling the squeeze from soaring energy bills and rapidly increasing interest rates, almost half of UK workers feel they’re not being paid fairly for the hours they work, research has revealed.

 

According to a recent survey, 69% of workers have not seen their pay increase in line with inflation – leading to a similar proportion also reporting concerns around the cost of living.

 

The research, which was based on a survey of 5,000+ UK office workers, highlights a disconnect between workers and employers when it comes to sharing financial success, with over half of respondents saying their company has performed strongly financially and should be sharing more of the revenue with employees.

 

The data also uncovered geographical differences in office workers’ satisfaction with their salary. The region which reported the highest levels of dissatisfaction was the North West of England, with only 36% saying that they felt their pay was fair, compared to 63% of workers in London.

 

Half of workers revealed that they knew the average salary benchmark for their role (in the same industry) was higher than they are paid. The results show that younger workers between the ages of 18-24 were most clued up on what they should be earning, with 61% claiming they knew the average industry salary for their role compared to only 29% of workers aged 55 and above.

 

With an expected recession looming, these findings paint a bleak picture regarding employee satisfaction. If you would like to discuss other ways to motivate and retain key staff, talk to us on 0800 9995 121.

 

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