ECONOMY

Darker picture at workplace

Conditions in the workplace are deteriorating by the day, as hirings stagnate, one in four companies intend to reduce staff and raises become hard to come by, a survey by the ALBA Graduate Business School showed yesterday. The survey’s report also suggested that about one in every two enterprises, or half, will give raises ranging from 3 to 6 percent, while one in every eight will give no raises at all. Just 5.7 percent of companies plan to give raises in excess of 6 percent. One in three responded that they have felt a major or dramatic impact from the economic crisis, while the main aspects affected are bonuses and the training they offer. However, despite the generally negative climate, the majority of enterprises (67.7 percent) stated that they are optimistic about their own future and approximately 37.6 percent said that the crisis will only have a minimal impact on them. The sectors in which companies are most likely to hire staff are sales, customer service, information technology, marketing, accounting and economics.