Fear of redundancy forcing building services professionals to take salary cuts

There were 475 respondents of whom 420 were employees and the rest employers. The results suggest some are prepared to accept lower pay to save their and their colleagues’ jobs and ensure the short-term future of their companies.

Almost 70% of respondents said they would consider accepting a lower salary in order to avoid redundancy, while 64% said they would consider working reduced hours.

Nearly half (46%) said they would contemplate a pay cut to save their colleagues from redundancy, and 57% said they were not looking for a more secure role at a different organisation that paid less.

Mike McNally, director at Hays, said recruitment had slowed sharply over the past year with a rise in the number of jobseekers per vacancy. Those in work were cautious about moving, he said.

“Our survey reveals that employees are now prepared to consider a salary cut, and the most important reasons cited are to avoid redundancy and to contribute to the financial wellbeing of their companies and colleagues,” McNally said.

“The recession is forcing companies to make some difficult decisions, and workers are largely understanding of this.”