Read CBI’s annual barometer of business mood across several topics, including jobs, pay, competitiveness and employment relations
The 2020 Employment Trends Survey (ETS) lands at a unique time in history: a global pandemic has hit the world and impacted how we work, live and interact with others. It’s a one-in-a-hundred-year event that has impacted the labour market with a severity never seen before. But businesses have stepped up by taking all the steps they could to protect as many jobs as possible. The survey shows that half of respondents took steps to protect jobs and reduce redundancies. Within this group, nearly half of firms (46%) have reduced working hours while 43% have reduced bonuses. Meanwhile, a quarter (26%) have reduced overtime and pay premiums. Looking ahead, the same proportion of firms are planning to take steps to protect jobs in the future (50%). Within this group, 37% are considering reducing working hours while 34% are considering reducing bonuses.
However, in light of economic conditions businesses’ hiring expectations for the next 12
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