In order to understand the nation’s views on the minimum wage and the General Election, CV-Library, a leading UK job board, have conducted an independent survey across a cross-section of over 2,000 of its job-hunters, the results of which have been released this week.
The survey revealed that 29 percent of job-hunters feel that, in spite of the election campaigning dominating the news at present, not one of the political parties will improve the UK’s job-market . 84 percent of respondents believe the minimum wage needs to be increased, but over half (52 percent) would set a fair minimum wage at £7.50-£8.00 per hour, at a similar level to the living wage, despite being given the option to set the minimum wage of anything up to £10 per hour.
CV-Library claim that the results of the survey demonstrate that UK job-seekers aren’t greedy. With an average living wage coming in at £7.85, a request for a minimum wage of £7.50-£8.00 is proof that those looking for new employment just want a fair and liveable wage.
Even in the midst of the rising costs of living, Britain’s professionals are not solely money-orientated. Almost half (49 percent) of job-hunters value happiness over wealth and would consider taking a minimum wage job if it meant it would provide increased job satisfaction. Friendly working environments, flexible working hours, and extra perks such as pension plan or private healthcare were all viewed as a reasonable alternative to money.
Despite this, almost a quarter of respondents could not be persuaded to consider a minimum wage job. Soaring housing prices and increasing costs of rent mean that many simply cannot afford to take a cut in pay.
With political parties making their final push to win extra votes, the survey is further indication that there is still no clear favourite for the election on May 7. Aside from the 29 percent of job-hunters that believe none of the political parties will improve the UK job market, the votes between Conservatives and Labour remain neck-and-neck. Despite Labour accounting for 28 percent of votes, 20 percent of job-seekers put their faith into Conservatives to benefit the UK job scene; leaving only a slim 8 percent difference between the two leading parties.
Lee Biggins, Managing Director at CV-Library offered his views surrounding the minimum wage:
“I believe there needs to a guideline to prevent the exploitation of young and foreign workers. The job market is becoming more competitive for businesses, with fewer candidates looking for work and an increasing number of positions that need filling. It’s essential to retain staff by keeping them motivated and loyal; and that includes ensuring you pay employees their fair value, instead of relying on minimum wage guidelines. This is an approach that I have always implemented in my own business and one that continues to develop loyal and happy staff.”