Press Release April 2010: Small Businesses Have The Most Loyal Staff As 82% Would Take A Pay Cut...

Small Businesses Have The Most Loyal Staff As 82% Would Take A Pay Cut To Save Their Company

The UK's only recruitment agency review site has today revealed that three quarters of British workers would have considered taking a pay cut or cutting down on their hours if their company was in financial difficulty during the recession.

New nationwide research conducted by the UK's only recruitment agency review site has revealed that nearly three quarters of workers would have taken pay cuts or worked less hours during the recession in a bid to save their company. polled 1,298 people to see how far people would have gone during the recession in order to keep hold of their jobs and save their company. Three quarters of those who would make a compromise, worked at a small business, compared to the 24% who worked in a larger company.

63% of those who would make a compromise said that they would be willing to take a pay cut, with 82% of SME staff saying that they would do so to save the company they work for. 44% of those who worked at a larger company said that they would take a pay cut, but only if their boss were to take one too.

61% of those polled said that they would be willing to do more hours for no extra money in an attempt to help out their employer. 4 in 5 who believed that this would help their company said that they thought it would eliminate the need for the employer to hire temps or extra staff to cover the workload.

The top things employees would have done to save their jobs and company during the recession are:

1.    Take a pay cut - 63%
2.    Work over time for no extra money - 61%
3.    Work less hours - 52%
4.    Go without annual bonus- 46%
5.    Print less - 39%
6.    Unpaid leave - 37%
7.    Give up their company car - 35%
8.    Give up their work phone- 33%

Two thirds of those that wouldn't make a sacrifice for their company worked at a larger organisation, whilst only 34% of those who worked at an SME said they wouldn't. Of those who worked in for a small company, and wouldn't make the sacrifice, said the reason was that they had too many commitments outside of work. Over half that worked for a bigger company said that they didn't like their job, whilst 1 in 5 said that they disliked their boss too much.

Lisette Howlett, Managing Director of said;

"I think it is great that so many of those in employment are willing to make compromises in order to save their company, such as taking pay cuts, cutting down on hours and by taking unpaid holiday. This level of support should give many companies the confidence and ability to work their way through the recession."

She continued;

"It is interesting to note how much more willing people were to make changes when they worked in a smaller company, as opposed to a bigger one. Considering one of the main reasons for people in a bigger company to not make a sacrifice is that they don't like their boss suggests that those is smaller companies have a stronger relationship with their company and manager and that they believe their efforts are more likely to have an impact on the business.  There is some important learning here for both small and large companies; the more engaged your people feel, the more likely they are to do everything they can to help the company succeed."



Gabrielle Lofthouse, 10 Yetis PR
Tel: 01452 348 211
T: @Gabriella_PRowl

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Lisette has over 20 years industry experience with such firms as ICI, Zeneca/AstraZeneca and Syngenta as well as local government and the public sector.