EMPLOYERS are warning that a third of professionals are set to walk amid mounting pressures caused by the Cost of Living Crisis. 

Employers are being urged to do more as a preventative method before staff hit ‘crisis point’

  • Only 1 in 4 white-collar workers make enough to warrant savings as the cost of living rises
  • 8% of professionals resorting to a ‘side hustle’ to manage living costs
  • 30% feel working from home has had a negative impact on their mental health
  • Over half of professionals state that a company’s values must align with their own in a post-covid world
  • 62% of professionals would decline a job offer from a company with poor ED&I credentials

A third of white-collar professionals have stated that they are ‘very likely’ to leave their job in the coming months, unless more understanding and assistance is directed toward personal matters which impact their work.

According to research carried out by global recruiter Robert Walters, there are three major ‘living crisis’ that will further drive The Great Reshuffle which companies need to be tuned into in order to attract & retain talent:

  • Rising Cost of Living
  • Post-pandemic Mental Health ‘timebomb’
  • Purpose before Profession  

Toby Fowlston, CEO of Robert Walters, said: “Just because hybrid and remote working has become more prevalent it doesn’t mean that the role of the workplace isn’t needed just as much.

"Over the course of our lifetime, we would have spent a third of our time at work – and so employers really do have a role to play in ensuring the wellbeing of their staff.

“Companies need to be more in tune with the issues impacting their employees if they want to avoid ‘The Great Reshuffle.’

“The crucial act here is for employers to listen and play an active role in alleviating some of the personal issues in employees lives before they reach that irreversible ‘crisis’ point.”

Cost of Living

According to a survey of 6,000 professionals by Robert Walters, 48% feel that their pay is not an accurate reflection of the work that they do – with a further 45% stating they feel underpaid.

When asked around pay in relation to cost of living, just 5% stated that they had a generous disposable income – with the vast majority (41%) stating that they live sensibly to cover their cost of living – and just over a quarter make enough to warrant savings. Worryingly almost a fifth (14%) of white-collar workers live ‘pay cheque to pay cheque’.