The majority of employees value a steady income as much as the amount of money they receive.

A survey by Citizens Advice asked 2,067 people what they valued most from their employment:

-Level of pay (93%)

-Reliability of income (92%)

-Opportunities for experience (84%)

-Being passionate about what they do (82%)

-Progression opportunities (74%)

83% said that a steady job with regular pay (as opposed to shift work or zero hour contracts) increases productivity and 86% thought it increased employee loyalty.

Gillian Guy, Chief executive of Citizens Advice, said that income security is the “overlooked piece of the labour market puzzle”:

Having steady, reliable income is fundamental to how secure people feel and is key if the government wants to achieve its ambition of a high wage, low welfare economy. Offering people a secure income is also in the interest of employers, as it boosts morale and productivity.

Employee stress and productivity

Employee financial worries can have substantial effects on productivity. A report into financial wellbeing by Neyber found that:

-70% waste around 20% of their time at work worrying about their finances

-17.5 million hours were lost due to financial stress related absence

-55% agreed that financial pressure affects their ability to do their job

 

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