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May 19, 2020

Majority of finance professionals are worried about losing their job

By Joe Pickard

The majority (56.5%) of UK finance professionals are worried about losing their job during the Covid-19 pandemic, according to a new study by UK job board CV-Library.

According to the study which surveyed 1,408 professionals, 4.7% of finance professionals were on furlough. Of this number, 90% expressed concerns that there may not be a job available for them once the scheme is over.

Additionally, over half (52%) of respondents said they believe that the company they work for will suffer due to Covid-19.

CV-Library founder and CEO Lee Biggins said: “We’re living in very strange times and this is impacting people at all levels. The government is doing its best to get the economy moving again, but this is going to take time and a lot of professionals are struggling with the uncertainty. Indeed, our data shows that the majority of people who are still working or on furlough are worried about job security.”

“A high volume of professionals in the finance industry don’t know whether their employer is even going to weather the storm and some organisations are going to suffer more than others. As a result, we’re expecting to see a real shift over the next 12 months in terms of what people want and need from their job; especially in the absence of pay rises and promotions. Following such an uncertain period, more professionals will want to work for employers that can offer some sense of job security, especially as the pandemic will have a long-lasting impact on the economy.” 

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