Less than a fifth in West Midlands feel very secure in jobs
Less than a fifth of workers in the West Midlands feel very secure in their current jobs.
This is from a study by Gretel.
It found that only 16 per cent in the region say they feel fully secure in their current role. Also, 29 per cent of workers in the West Midlands say they feel fairly secure in their job but are worried about the next 12 months.
Under one in 10 – just six per cent – of regional workers have already had to take a pay cut or work reduced hours to ensure they have employment.
A new job is one of the life changes which leaves people susceptible to losing a financial account or asset, such as a bank account, pension or savings account and Gretel’s research shows that, already, 18 per cent of people in the West Midlands have changed jobs four or more times and nine per cent have moved more than eight times.
Gretel estimates that 19.6 million people in the UK have become disconnected from financial services products and are sitting on dormant or unclaimed money, including 10 million bank accounts, 2.5 million life insurance policies and 1.6 million pensions, with a collective value of more than £50 billion.
Duncan Stevens, chief executive of Gretel, said: “For many people in the West Midlands the impact of Covid-19 on their careers and future jobs will be felt for some time to come and looks set to create more life changes as people find themselves changing careers.
“At Gretel, we want to get the £50bn of dormant, lost and unclaimed money back into the hands of the consumer, where it belongs," said the firm.
"Our belief is consumers are entitled to receive all the money due to them and should not have to pay to get their own money back, nor face numerous complex barriers to access it. Being reunited with forgotten money could make all the difference to some people.”
