Protecting your part-time income from post-pandemic uncertainty
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While the pandemic has been incredibly difficult for everyone in full-time employment, those who pick up part-time work have had potentially even greater cause for worry. So many of the businesses have faced closures, both temporary and permanent, and part-time workers are not always given the same protection as full-time employees in these scenarios.
It has been a long period of stress and anxiety, and even as more and more businesses and venues reopen around the country, there is still a lot of uncertainty. The recent rise in cases and the possibility of new variants to follow the already disruptive Delta strain means that we could be facing further lockdowns and closures to come.
As a part time worker, it does not always feel like there is much that you can do to protect your income. However, there are steps that you can take to make sure that you stay flexible, remain an enticing prospect for employers, and that your income is protected.
Know your rights as a part time employee
As much as we would all like to be working for employers who have our backs, part time workers don’t always have the luxury of picking and choosing who they work for. That has been especially true during the pandemic, when a lot of people have been picking up work wherever they can find it to make sure that they can pay the bills.
However, it is so important to remember that just because you are part time, that does not mean that your employer can treat you however they like. Part time workers have clearly defined rights as laid out by the British government that you can look up yourself. If you feel like you are being treated unfairly and that your income is taking a hit as a result, do not be afraid to threaten legal action.
Consider income protection insurance
We have already talked about how many workers have felt like their job situations have been incredibly unstable during the pandemic. Even if you have an excellent relationship with your employer, there are always going to be forces beyond your control, especially right now. If you think that there is a chance that you might be made redundant, or if you want to make sure you’re covered just in case, then it is definitely worth looking into income protection insurance.
A good policy will cover you if you lose your job due to redundancy as well as injury or illness. You could be looking at getting up to 70% of your gross annual income covered and the first pay-out could reach you in as little as a week. If you want to learn more about income protection insurance and find out what kind of policy you could be looking at, visit Drewberry. Their calculator lets you compare deals from the major insurance providers.
Keep building your relationships
We all know how important good working relationships are when you work part-time. You are often relying on employers knowing that you are a hard worker who can be relied on when it’s crunch time. If you are worried about protecting your income in the months ahead, then don’t be afraid to reach out to people that you have worked with in the past to ask if they have anything going. Even if it isn’t an “I need work now” chat, it’s always a good idea to keep your professional network active in times as uncertain as these. You should also make sure to keep talking to other part-time workers that you know to share tips and advice.
Don’t stop saving
With lockdown restrictions lifting, there are so many more ways that we can spend our money. Of course, we all want to rush out and see our friends and family, we all want to hit the town and we want to indulge ourselves after months spent essentially locked indoors. But it is important to remember that things are going to remain uncertain and unsteady for some time to come yet. As we mentioned, a new variant could send us all back into lockdown, and Brexit is making things even tougher for many businesses than they already are.
With that in mind, it is very important that you keep up your savings plan even as we hope for a brighter summer and beyond. Protecting your income is not just about hustling to work harder, it’s about making sure that you are being responsible with what you earn. Go over your expenses for the last few months and see what can be cut. Are there any subscriptions that you aren’t using anymore, for example? Try to avoid making any big expensive purchases if your work situation is wobbly, put aside whatever you can as an emergency fund and keep on top of your debt repayments.