For immediate release: Tuesday 5 January 2016
As the Christmas holidays draw to a close, nearly half (46%) of workers admit they are suffering ‘back to work blues’ and aren’t looking forward to getting back to the daily grind according to new research from workplace pensions provider NOW: Pensions. Of these, 13% confess they are ‘dreading it’.
Of the 2,000 people surveyed, nearly three quarters (72%) took time off over the festive season. On top of the bank holidays, most people took an additional 6 days leave. An unlucky 7% (the equivalent of 2.3m of the UK population) had to work every day over the Christmas period, including bank holidays.
The main cause of back to work blues is early starts cited by nearly half (46%) and lack of free time mentioned by 41%. Nearly a quarter (24%) say they miss their family while 23% admit they find their job boring. One in ten (14%) confess they dislike their boss.
For the one in five (17%) workers who are looking forward to going back to work, 40% say this is because they love their jobs, while nearly a third (31%) say they like the routine of being at work. 6% admit that a love interest in the office was the driving force for them wanting to return to work. This might explain why 3% ‘can’t wait’ to get back to work.
When asked what aspects of their job keeps them happy and prevents them looking for a job elsewhere, location tops the bill for over a third (35%) of those surveyed, convenience was mentioned by 33% and salary is the driving force for 29%. Despite ‘the boss’ coming down the list in seventh place in the UK, this shoots up to third for Londoners, with 33% saying it’s something that keeps them happy in their job.
Aside from salary, the most important benefits for employees are generous holiday entitlement (30%) and a generous pension scheme (26%).
When asked what could improve their jobs, better pay was cited by nearly half of workers (46%), whilst 10% wanted shorter working hours.
Morten Nilsson CEO of workplace pensions provider NOW: Pensions said: “As December turns to January and the tinsel comes off the Christmas tree, it’s natural to feel a bit blue about the prospect of returning to work.
“Apart from a lucky minority, for most people work is a chore rather than a passion but, for a happier workforce, things like generous holidays and good pensions can go a long way and shouldn’t be under-estimated.”
– Ends –
For further information:
Tel: 0203 640 9075
Notes to editors
Research conducted by Opinium online between 15 December 2015 and 17 December 2015 with 2,001 UK respondents of the age of 18 and over.
NOW: Pensions www.nowpensions.com @nowpensions
NOW: Pensions is an independent, multi-employer trust serving thousands of employers and hundreds of thousands of employees from a wide range of sectors.
A subsidiary of one of Europe’s largest pension funds, Danish pension scheme ATP, NOW: Pensions offers a simple and cost effective workplace pension solution direct to employers and via advisers and the payroll sector.
In April 2013, NOW: Pensions became the first master trust to attain the NAPF’s new PQM Ready Standard. The benchmark shows employers that NOW: Pensions is a well governed pension scheme with low charges and good member communications.
In January 2015, NOW: Pensions achieved independent assurance of scheme quality in accordance with the new master trust assurance framework (AAF02/07) introduced by The Pensions Regulator (TPR) in conjunction with the Institute of Chartered Accountants in England and Wales (ICAEW).
The NOW: Pension Trustee Directors, whose role is to safeguard the interests of members, comprises well-known industry figures with different areas of expertise:
- Jocelyn Blackwell, founding partner Dunnett Shaw
- Christopher Daykin, former Government Actuary
- John Monks, member of House of Lords and former General Secretary of ETUC and TUC
- Win Robbins, former Head of European Fixed Income at Barclays Global Investors
- Nigel Waterson, former Shadow Pensions Minister
Employee charges are just £1.50 per month administration charge (reduced administration charge of £0.30 – £1.00 to be applied during auto enrolment phasing for lower earners) plus a 0.3% annual product investment management charge, with no hidden charges.