More than one in 10 (14%) HR decision maker respondents predict that their organisation will have to reduce employees’ salaries if Article 50 is triggered to begin Brexit proceedings, according to research by Jobsite.
Its survey of 1,000 UK employees and 500 HR decision makers also found that 20% of employee respondents expect their salary to decrease should Brexit go ahead.
The research also found:
- 87% of employee respondents based in the North East predict a salary increase despite the European Union (EU) referendum result in June.
- 21% of employee respondents from the West Midlands believe their salary will decrease if the UK leaves the EU.
- 17% of employee respondents aged between 23 and 34 believe their salary will fall as a result of Brexit.
- 8% of employee respondents who work in the IT and manufacturing sector expect their salary to fall should Brexit go ahead.
- 19% of employee respondents based in the east of England think that their workplace benefits could get worse if Brexit goes ahead.
- 75% of employee respondents think benefits, including pension schemes, annual holiday and flexible working arrangements, will stay the same or improve next year.
Nick Gold (pictured), chief executive officer at Jobsite, said: “Four months have passed since the UK’s decision to leave the EU, so we are now getting a clearer understanding on people’s opinions of the future. Of course, the result of the High Court appeal could change people’s attitudes. Our data suggests that both employers and employees felt optimistic despite Brexit; many predicted that the referendum result will not stifle salary increases nor improvement in work benefits.”