Skip to main content

Optimistic outlook for the British workplace

Paystream News

Michelle Derungs

Thursday 12th Jun, 2014

According to YouGov and the Centre of Economics and Business Research, confidence in the British workplace has increased noticeably over the past 12 months.

YouGov's Consumer Confidence Index has now reach its highest figure since 2007, leaving it just 1.7 points below its pre-financial crisis peak. Over the course of one year the index has increased by +12.7 points, having increased by +0.9 in the last month alone.

Furthermore, the survey indicated that promotions, bonuses and recruitment have all increased over the past 12 month period. In May 2014 a reported 45% of people have indicated that they have received a pay rise or bonus over the past 12 months.

Alongside this, there has been a 5% increase in the number of individuals attaining new employment over the past 12 month period.

The boost in economic confidence has also seen a substantial decrease in the number of workers being made redundant. This has dropped 5% between May 2013's figure of 28% to just 23% for May 2014.

This optimistic outlook for the British economy has left employees and contractors with a positive outlook for future prospects. The expansion of British workforces has left UK employers struggling to fill permanent positions, potentially opening up the need for interim contractor workers, which would put umbrella and limited contractors in the ideal position to fill these skills gaps.

Back to the Top