80 per cent of professionals say that persistent inflation has a major impact on their career decisions. These career decisions include finding a new job with a higher salary or negotiating with their employer for a higher salary.
While a third of the 4,000 respondents said inflation was a huge factor in their career decisions, 46 per cent said it was either a factor or a small factor, and 1.7 per cent said inflation did not affect their career decisions.
Only 10 per cent of respondents said they were extremely confident they could negotiate salaries and benefits, despite the desire to negotiate a pay rise. Most of the respondents are however only somewhat confident as regards negotiating pay rise.
When asked how confident they were about finding a new job, only 12 per cent said they were very confident, while 45 per cent said they were only somewhat confident.
Persistent inflation has forced many companies to restructure their budgets for the year. Several companies have already restructured their ad spending. Others have also decided to slow hiring for the year until the dust settles. However, some companies have begun laying off employees in order to cut costs and cope with the economic downturn.
The sources for this piece include an article in ZDNet.