Figures released by accounting and finance recruitment practice, Aequalis Consulting have shown that recession fears are forcing employees to stay in jobs they dislike, work longer hours and take steps to prepare for redundancy.
The survey of over 315 workers, suggests that 72.8 percent of respondents will stay in their current job due to the uncertainty in the economy, even if they are unhappy. A further 86.4 percent would be prepared to work harder without financial reward and many are preparing for possible redundancies.
In order to prepare for a possible redundancy, employees are increasing their savings, contacting recruiters, updating their resume, networking and scouring the job market for possible opportunities.
Despite this, 59.4 percent believe it is unlikely they will be made redundant or laid off.
According to Aequalis Consulting senior consultant, Kim Smith, the results show that employees are remaining optimistic about the future, but are taking precautions just in case.
“These surprising results suggest that Australians are remaining positive, despite what economists are predicting about the looming recession.
“However, Australian employees are cleverly taking steps to prepare for the worst – just in case.”