An alarming new report has revealed that as many as 71% of UK marketers fear for their long term job security, citing budget cuts and advancements in AI technology as major concerns.
The uniquely challenging economic conditions caused over half (58%) of marketers to believe this year could be worse for the long-term health of their business than the COVID pandemic, with a third (33%) feeling uncertain about the survival of their business beyond the year.
This long term economic uncertainty has fed growing worries around squeezed budgets and increased workloads – almost half (44%) felt that their department’s team and budget had been cut in the past year, and close to a third (29%) believed that up to 25% of staff had been let go over the same period.
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“Businesses are continuing to have to make difficult decisions in a difficult economy to drive profitability, and marketers are feeling the pressure in the demands of the job,” SurveyMonkey senior director of customer success EMEA, Cormac Kelly, said.
“With many marketers having to work with reduced budgets and teams, it’s important that business leaders ensure that their employees feel valued, appreciated, and heard. Gathering and acting upon feedback from stakeholders, including employees and customers alike, can ensure that marketers feel valued in the workplace and are able to deliver impactful results for customers.”
The rise of AI has meant that over a quarter (29%) of respondents felt that the technology posed a direct threat to their jobs and could result in redundancies, however the remaining 71% did not see it as a threat.
