Around 34% of employees fear being made redundant if their company is not performing well, according to new research from Reward Gateway | Edenred.
According to the research, falling business confidence, rising cost pressures and market volatility are having a direct impact on employees, with 30% saying they feel anxious when their company is struggling and 25% feeling under pressure.
Meanwhile, nearly one in five or 18% also fear they will miss out on a promotion if the business is not doing well, even when they have met the necessary goals.
The research found that these worries are closely linked to productivity, with 81% of employees agreeing that poor wellbeing contributes directly to lower performance at work.
Around 41% of employees said their wellbeing significantly affects their productivity, while 36% said it sometimes does. Only 5% said their wellbeing had no impact, 10% described their wellbeing at work as poor but 72% said it was good and 18% felt neutral.
But some employees appear less affected by company performance with 17% saying they do not let work affect their wellbeing, while 11% said they are not paid enough to worry about business results and another 11% said their seniority means they are less directly impacted.
Reward Gateway | Edenred people experience director Chris Britton says: “While it may seem like business leaders are shouldering most of the problems their organisation faces, our research shows employees are on the same page. With constant news of redundancies due to rising employment costs, it’s no surprise that a significant number of workers fear for their jobs and livelihood. Ultimately, it’s their wellbeing at risk, and this not only impacts their productivity, but can turn into absences due to burn-out, stress and sickness down the line.
“A business is only as good as its workforce, which is why it’s crucial for businesses to ensure their employees are happy, satisfied and thriving to improve wellbeing, productivity and retention rates. The difficult economic climate is even more reason to action this, as supported employees are more likely to work harder, take on more tasks and stay loyal. In the current worklessness crisis, this is more important than ever, and it’s time businesses get on board.”
