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One in two workers is an unsung hero of recession

The poll commissioned by R3 shows that during 2009 a third of employees have worked overtime or longer hours without extra pay and one in ten have deliberately not asked for a pay rise in view of the recession. Other support includes one in ten who took unpaid leave and similar numbers who accepted a pay freeze and did not receive a bonus they had expected.

Half of people who work in the UK have taken at least one of these actions. Insolvency Practitioners think this support can play a key role in helping a company prevent insolvency. Nearly half (42 per cent) of R3 members believe these activities can be the 'magic bullet' to help save a failing business and 91 per cent think they can be helpful as part of a package of measures.

Andy Wood, regional chairman of R3 for Yorkshire and partner of The P&A Partnership, says: "These people are the unsung heroes of the recession.

"Their personal sacrifices can help businesses survive the recession and, in some cases we've seen, they've made the difference between survival and collapse.

"A few people in a company taking pay freezes in the short term can prevent insolvency and job losses in the long term.

"With record numbers of insolvencies and rising unemployment, these people make a significant contribution to their companies, their colleagues and the economy as a whole."

According to press reports, the following companies all asked staff to make personal sacrifices to secure the company's long term future.

In August, Honda's Swindon factory announced it was closing down for a four-month break. Staff were asked to take a cash payout to leave and those who remained were paid in full for two months and at 60 per cent for the next two months. British Airways pilots accepted 2.6 per cent pay cuts. In return, they received shares in the company in three years' time worth £13m. Also at BA, 7,000 staff agreed to take part in cost-saving measures, including 800 who said they will work unpaid for up to a month. Most opted for unpaid leave.

At BT staff were given an upfront sum of 25 per cent of their annual salary in return for taking the entire year off. Staff were also given the option of a one-off payment of £1,000 for going part-time. KPMG asked its staff to move to a four-day week or take sabbaticals on 30% per cent pay, to stave off a redundancy programme across the firm.

According to the CBI, nearly two-thirds of employers are operating some form of recruitment freeze and 45% have introduced more flexible working.