Today’s employees are more likely to fall into financial difficulty than they were 30 years ago, according to a new report from Cass Business School, part of City University London. The UK workforce has changed dramatically, becoming older, more feminised and including more disabled workers. But, employee benefits – designed to provide financial protection – have failed to adapt, leaving workers financially exposed.
In 1979, we elected our first female Prime Minister, but by 2012 women represented more than half the UK workforce. According to Keeping Pace? Financial Insecurity in the Modern Workforce, commissioned by Income Protection provider Unum, there are 46% more older workers and 11% more workers who are ill or disabled, when compared to Thatcher’s Britain.
The same period saw the introduction of the first mobile phone – practically a stone age device compared with today’s smartphones – and both the birth and death of t
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