Job security outlook better than last recession

46% of people are currently afraid about their job security, up from 38% in 2019 but well below the 58% level in 2009.
Job security outlook better than last recession
46% of people are currently afraid about their job security, up from 38% in 2019 but well below the 58% level in 2009.
46% of people are currently afraid about their job security, up from 38% in 2019 but well below the 58% level in 2009.

46% of people are currently afraid about their job security, up from 38% in 2019 but well below the 58% level in 2009.

More than four out of ten people have fears about job security, a figure which has risen over the last year, but the outlook is better than at the beginning of the last recession.

According to a survey by FRS Recruitment, 46% of people are currently afraid about their job security, up from 38% in 2019 but well below the 58% level in 2009.

The FRS Recruitment Employment Insights Survey also revealed that almost two out of every three people believe they would gain new employment within three months, if they lost their job – a level similar to the numbers in 2009.

Back then 62% believed they could secure a new job within a three month period.

By 2011 that figure had dropped to 41%, while in 2020 the survey showed that 66% of people believe it will take them three months or less.

Speaking about the results Colin Donnery, General Manager of FRS Recruitment said it was clear the economic uncertainty caused by Covid-19 is having an impact, with the level of concern for job security having risen over the past year.

"However there is also some comfort to be taken that the Irish people are significantly more optimistic about their jobs being maintained than they were ahead of the last recession in 2009," he said.

The survey found that four in five employees would like the option of working from home when the restrictions are eased, with 17% saying they would prefer to work from home all the time.

For those who do work remotely, the reduction in the time spent commuting to work is the most popular factor. This is followed by cost savings associated with travelling (59%) and more time spent with their family (50%).

Despite fears about job security, more than one in ever two people expect a pay rise over the course of the next 12 months, although the level of optimism has dropped since 2019 when 68% of respondents believed they were due a raise.

Conversely, three out of four people would consider a reduction in their working week if their job was at risk, while more than one in two would consider a wage cut.

"It would seem that even with the current difficult conditions, there is still a bright outlook for employees," Mr Donnery said.

"Most workers believe they will get a wage increase over the course of the coming year, while almost two out of every three people believe they would find new employment within three months if they were unfortunate enough to lose their jobs."

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