One third of cash-strapped workers seeking a second job
GettaSub report calls on HR directors and business leaders to offer more support for hard-pressed workers as polling reveals one third of employees are seeking a second job to make ends meet
Millions of workers are considering taking a second job due to a lack of cash, according a new report from GettaSub, the employee benefits platform. The findings are contained in a new in-depth report published today entitled, In work but cash poor which quizzed 2,000 fulltime UK workers about their financial concerns – with 32 per cent saying they were looking for an extra job.
The poll found that in the last month alone, over one third (34 per cent) of workers admitted to having suffered sleepless nights due to financial worries. Whilst just over one in ten (13 per cent) also said they were planning to skip work to avoid travel costs. Additionally, 48 per cent of workers believe the botched Brexit situation will make their financial situation worse. When asked about how much the workers had overspent during the Christmas break, 29 per cent of respondents said they overspent by between £51-200 and 22 per cent by 201-£400.
Additionally, one in ten (13 per cent) said they overspent by between £401 - £1,000. Only one third confirmed that had not overspent during the festive period. The month of January topped the list as the gloomiest month, with over half (55%) of workers saying it was the month they were the worst off. The research also found that many people were increasingly turning to credit cards in order to stay afloat. Nearly two in 10 people (19%) said they had to borrow money from friends and family to make ends meet.
GettaSub chief Ann Marie Bell said, “It’s truly shocking that so many fulltime workers are finding themselves squeezed by the cost of living and personal financial pressures. Employers have a duty of care to ensure staff are given the necessary support with these issues and it’s vital that all employees feel that can speak openly about these problems and seek help without fear of prejudice.”
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