Greater than half of UK staff laid off this yr are exploring options to full time work, in keeping with a brand new survey of 500 UK workplace/white collar staff who’ve been laid off since December 2022.
Nearly half (47%) of respondents stated they not belief full time employment, with 35% of these laid off planning to maintain a facet hustle working even once they ultimately return into full time work.
With a rise in job cuts within the UK, notably among the many tech sector, the brand new analysis from Fiverr explores why staff imagine they had been laid off, the implications of this, and what their future profession plans entail.
Laid off UK workers speculate their corporations over-hired
When requested why they thought that they had been made redundant, round one third of respondents (30%) stated they believed their firm had over-hired. This will increase to 39% at corporations with 10-49 workers, and 36% for corporations with greater than 500 workers.
Unsurprisingly, 41% stated their firm was struggling financially, however 30% stated they believed it was associated to non-public efficiency – with this determine rising to 41% for these in graduate and entry degree roles.
Many pressured to maneuver again in with mum and pop
To fight the financial challenges related to being made redundant, over 1 in 4 (28%) laid off staff say they’ve/will transfer again in with their household to extend money move, a determine which was notably excessive among the many 35-44 age group (30%). An additional 36% acknowledged that they must transfer to a cheaper space.
In trying to the longer term, 70% of UK staff stated they’re prioritising stability of their job.
Subsequent steps: majority shun full-time work
Regardless of the apparent difficulties and hardship brought on by being laid off, for a lot of it was deemed a blessing in disguise, with 72% of laid off UK staff reporting that they had been ‘relieved’ to now have the chance to search for a brand new function and 66%3 stating that they had been unfulfilled of their roles.
Evidently the overwhelming majority (71%) of respondents will search for a contemporary begin by altering business solely, together with 67% of those that are within the expertise business, an business which has been closely impacted by redundancies.
Bukki Adedapo, UK Nation Supervisor at Fiverr, stated, “Being made redundant is rarely a pleasant feeling, and is additional compounded by the truth that, globally, we’re at present in a really difficult financial local weather.
“Nonetheless, what is obvious from the findings of this survey is that laid off staff are searching for out new alternatives to search out careers the place they’ll discover extra that means of their work and, by means of freelancing and self employment, have the flexibleness to make their roles work higher round their very own schedules and passions.”