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A Third of UK workforce currently fear redundancy

A Third of UK workforce currently fear redundancy

31% of the UK workforce are worried about being made redundant from their job yet almost a third of UK CEOs (29%) say they have no work concerns at all according to findings from The Protection Gap survey conducted online and commissioned by Abbey Legal Protection (ALP), a leading provider of legal expenses insurance products and services, part of the Abbey Protection Group Ltd.

When asked which workplace issues were of current worry to them, over a third (36%) of senior managers and almost half (42%) of executives without management responsibility identified redundancy as an existing concern, revealing that uncertainty and job insecurity is still rife despite talk of an improvement in the economy.

Redundancy doesnt appear as an item of concern on the agendas of CEOs with a mere 5% of them labeling it as a worry. This compares to almost one in ten of them (9%) being more bothered about harmless sexual innuendo being taken the wrong way. Of greatest concern to CEOs was a potential tax investigation by HMRC (12%) and employee stress and impact on health (11%).

An astonishing 29% of CEOs claimed to have no workplace worries.

Commenting on the findings, Richard Candy, Underwriting Director Abbey Legal Protection said:

Although the wider economic environment appears to be more positive than it was this time last year, the issue of redundancy is clearly still at the forefront of employee minds, and one that concerns them on a regular basis. CEOs themselves may not be worried about their own management positions but they should be aware of the wider sentiment amongst their workforce.

It would be misleading for managers to give their employees a false sense of security by pretending that the market is back to normal and redundancy is not a workplace possibility. At the same time, however, it should not be an ongoing concern that affects employee performance. Redundancy is still a real threat in the current economic climate and if businesses are forced to cut costs through a reduction in head-count, then it is critical that they meet their obligations as employers and follow the right procedures in order to avoid potentially huge legal claims.


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