Figures from a Data and Marketing Association (DMA) survey of its members finds that over half of respondents are resorting to the government’s job retention scheme in the hope that roles can be protected for a re-opening of the economy.
This is according to responses from around 70 members of the association, which in aggregate paint a picture of UK business in a deeply uncertain time, with nearly three-quarters (74%) looking to the government for support.
Most common is the government’s Coronavirus Job Retention Scheme, colloquially known as furloughing, in which 80% of an employee's salary up to £2,500 a month will be covered by the government if the employee would otherwise have to be laid off.
While 56% report that their organisations are operating business as usual, more than a third (36%) believe they won’t last longer than six months in the current conditions – with a further 20% not sure how long they might last.
Slightly more positive, however, is the proportion of businesses that feel they have the tools and ability to shift to home working. Most (92%) say they have the tech to work from home effectively and (89%) productively.
It’s clear that many businesses have welcomed the government support in an attempt to retain their staff through furlough,” says Chris Combemale, CEO of the DMA.
“We are continuing to lobby government on a range key areas that our industry needs to both survive and then thrive post-outbreak. For example, we are calling for an extension of the job retention scheme. Even once restrictions are lifted it could take months for revenues to return to normal and it is essential businesses can plan for a phased return to work, to avoid inevitable redundancies.”
Additionally, the DMA has launched the DM Trust Home Learning Fund to aid furloughed professionals in data and marketing to access training and professional qualifications.
Sourced from the DMA