Fear of redundancy continues despite low unemployment

September 2003
Management Services;Sep2003, Vol. 47 Issue 9, p7
Academic Journal
Leading career consultants Penna Sanders & Sidney published the first Penna Fear of Redundancy Index also known as the Penna Index. Since 1999, over 2000 people per month were interviewed by MORI about how fearful they are about being made redundant. The Penna Index in Great Britain shows that fear of redundancy increased from 80 in August 2002 to 93 in February 2003 when concern about the impact of the Gulf war was high. The figures fell for March and April 2003 with the Penna Index at 87, mirroring the decrease in the proportion of those claiming to be unemployed and possibly reflecting relief that the war had lesser impact than anticipated. The highest level of anxiety was recorded in February 2000 when the Penna Index hit 105. Bill McCarthy, managing director for Career Consulting at Penna Sanders & Sidney said that employers have to recognize that if their people are anxious about redundancy this will affect productivity and focus at a\work. Young adults under the age of 25 are consistently the most concerned. A research project conducted by Penna Sanders & Sidney in 2001 showed that only 56% of people under 30 knew someone who was made redundant. Older workers are less concerned about redundancy.


Related Articles

  • Can't stay, won't stay.  // Works Management;Jul2003, Vol. 56 Issue 7, p8 

    Focuses on the findings of a new report entitled "Itchy Feet" from human resource consultancy Penna Sanders & Sidney related to employment in businesses. Search of employees for alternative employment from the first day in a new job; Percentage of employees dissatisfied with current employer;...

  • REDUNDANCY: THE TIME OF YOUR LIFE? PATEL, BIJAL // Accountancy;Aug2009, Vol. 144 Issue 1392, p42 

    The article presents an overview of the emotions, including fear and anxiety, that employees who have been terminated as a result of a global recession, encounter after being terminated. A discussion of methods that terminated employees can use to keep a positive attitude and stay focused on...

  • Untitled. Williams, Nadia // Personnel Today;6/16/2009, p15 

    The article reports that according to a survey by "Personnel Today's" sister publication "IRS Employment Review," many employers in the current economic climate are affected by "Survivor syndrome." This syndrome describes the physical and psychological impact of redundancies on the remaining...

  • A STUDY ON THE PSYCHOLOGICAL IMPACT OF REDUNDANCY ON SURVIVORS. SOWJANYA, S. // International Journal of Research in Commerce, IT & Management;Sep2013, Vol. 3 Issue 9, p100 

    The challenging economic times facing many countries over the last few years has resulted in many changes as like making redundancies. Whilst this clearly has major impact on those being made redundant, there also impacts for those left behind. The impact on those remaining can also be traumatic...

  • KEEPERS OF THE FLAME. Fisher, Leo D'Angelo // BRW;4/9/2009, Vol. 31 Issue 14, p48 

    The article focuses on the importance of inspiring and motivating remaining staff in the survival of an organisation. Quentin Jones said that leaders must focus on culture and prioritise ways to inspire and motivate remaining staff to ensure their productivity. Majority of the 1700 organisations...

  • Fitch sheds jobs as it restructures. Konopelski, Anna // Design Week;6/10/2004, Vol. 19 Issue 24, p3 

    Reports that consultancy firm Fitch London reduced its workfoce in London, England. Restructuring of core business which attempts to return Fitch, both in Great Britain and overseas, to its heritage; Focus on retailing, product design, brand communications, live events and hospitality; Total...

  • Atisreal Spain to slash staff numbers.  // EuroProperty;1/21/2008, p1 

    The article reports on the Atisreal's plan of dismissing up to 100 employees out of its 350 staff in its 11 offices in Spain. The property consultancy firm is said to lay off up redundant positions. Most of the jobs affected are in the residential part of the business. Meanwhile, the company is...

  • THE RIGHT STUFF. Bell, Jon // Oregon Business Magazine;Dec2009, Vol. 32 Issue 12, p10 

    The article profiles the consulting services firm EthicsPoint Inc. located in Lake Oswego, Oregon. It notes that the company offers web-based reporting systems, email communications and case management services. According to EthicsPoint chief executive officer (CEO) David Childers, the firm aims...

  • Cómo formar talento. ALDAY, ANA PAULA HERNÁNDEZ // Entrepreneur Mexico;mar2010, Vol. 18 Issue 3, p78 

    No abstract available.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics