Almost forty per cent of people polled this week have considered changing jobs to counter rising inflation and costs of living.
Pressures are showing on people’s wages and mental health, with leading employment board Totaljobs urging employers to support their workers through difficult financial times.
In a survey published this week, 37 per cent of workers have considered switching to a new job in search of more money, while essential workers, such as doctors, are twice as likely to have quit and moved to a new sector, to get a bigger pay packet.
The findings also predict a possible exodus of up to 700,000 workers from the social care sector, which has suffered with staff shortages due to Brexit and pressures during the pandemic.
Nichola Janet-Smith, 46, an NHS worker from Birmingham said: “I’ve worked in the NHS for six years and just left my role as a Community Midwife Support worker because the rising cost of living made it financially untenable.
“After spending £700 on rent and £200 on travel, I was lucky if I was left with £200 to spare.”
The figures also show that more than 35 per cent of employers are concerned about the quality of life for employees, and nearly 85 per cent are already doing something to support workers.
The rise in inflation, due to a mixture of Brexit, the pandemic and war in Ukraine, has also led to a squeeze on people’s salaries, with almost half saying they haven’t had a pay rise this year.
Of those who did get more money, more than two fifths only had a 5 per cent rise, which is less than the rate of inflation.
The survey was conducted among more than 5,000 people by Censuswide, with 80 per cent of those polled in full or part time work, and the remaining 1,000 respondents, consisting of top decision makers in UK companies.
“Those we stood outside and clapped for every Thursday continue to be among the worst paid in our society. This research illustrates that everyone is feeling the pinch of the rising cost of living – yet it is disproportionately felt by our key workers – to the extent that some are looking to move jobs for one that provides them with more financial security”, Jon Wilson, CEO of Totaljobs said.
He also encouraged “employers to acknowledge the situation we’re in and have open conversations with their staff about financial wellbeing and renumeration.”