Midlands workers prepared to economise
Forty-five per cent of staff working for small businesses have accepted a pay freeze or a change in hours in an effort to help their business combat the recession.
According to business price comparison service Make It Cheaper, nearly half of workers at small companies have worked more hours for less money, agreed to work less hours or accepted a pay freeze.
However, only 21 per cent of bosses put their affability down to fear of losing their job, with 54 per cent instead attributing their workers’ acceptance of changing circumstances to their “dedication to the business”.
Jonathan Elliott, managing director of Make It Cheaper, said: “This research shows that our small businesses, which represent 51 per cent of the UK GDP, can be proud of their staff and safe in the knowledge they will be supportive and inventive when times are tough. Companies are becoming leaner and so will be more profitable as and when things improve.
"Perhaps employees should take this opportunity to map out a future pay rise when milestones are reached”.
The research was conducted with Make It Cheaper’s customer base with 1,000 businesses surveyed.
