Many businesses planning pay freezes, research shows
New research has revealed that over half of the businesses in the UK are planning to freeze pay this year.
Figures released by the British Chambers of Commerce (BCC) show that of the 400 firms surveyed, 58 per cent are anticipating salary freezes while 12 per cent are cutting pay.
While 22 per cent are expecting working hours to decrease over the next six months, 28 per cent claimed that they would be going up.
David Frost, director general at the BCC, said: "It is the country's private sector that has faced all the pain of this recession. The results of our poll shows just how hard times are, with half of firms considering making redundancies."
In order to survive the economic downturn, Construction Training London believes that training is essential for employees so that they are able to enhance their skills.