No Vacation or Bonus? Workers Say OK. What do you say?

From the Wall Street Journal

Workers will go to great lengths to hold onto their jobs, according to a new survey.

Worried about their professional future in the current economic climate, two-thirds of workers surveyed by staffing company Randstad US said they would make sacrifices such as working longer hours or losing vacation time to hold onto their current jobs.

Nearly one-quarter of those surveyed said they would give up the shot at an annual bonus to keep their job; another 24% would work longer hours without a pay increase, and 23% would accept a reduction in benefits.

"Employees have become very realistic about the job market," says Joanie Ruge, senior vice president and chief employment analyst at Randstad. Workers would rather cut some perks than be out of a job altogether, she says. The survey looked at 3,022 workers, currently in full-time jobs.

Still, most workers do draw the line at taking a paycut or relocating for the job—just 16% said they'd be willing to do that—while just 11% said they would accept a demotion. One-third of those surveyed said they wouldn't be willing to make any sacrifices at all.

Ms. Ruge says employees shouldn't outright volunteer to take a pay cut or lower bonus, but instead should show enthusiasm about their existing position and take on extra assignments. By proving their value to the company, she says, employees may find they're actually able to keep the benefits that, at least privately, they would have been willing to give up.

Working Conditions

Actions employees would consider to keep their jobs:

Lose annual bonus opportunity: 24%

Work longer hours without an increase in pay: 24%

Benefits reduction: 23%

Reduction in vacation time: 22%

Take a pay cut: 16%

Relocate: 16%

Pay out of pocket for additional training to acquire new skills: 15%

Take a lesser job or demotion: 11%

None of these: 35%