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How employee benefits can help cost of living crisis concerns
According to the ONS Opinions and Lifestyle survey1 conducted in March 2022, 87% of adults report that their cost of living has increased, compared to 61% in November 2021. Plus, grim figures also show a quarter of Britons are struggling with bills2. Unsurprisingly, during the pandemic, there was an increased focus on mental health worries amongst the workforce, but as household costs continue to rise, financial wellbeing is rapidly taking centre stage.
With the Bank of England expecting the inflation rate to increase to 9% in spring 2022, it’s understandable that the spiralling cost of living is causing significant stress for many employees and employers who are trying to retain staff and control internal wage inflation.
At Zest we believe that the right employee benefits solution will help to support employees through this time. Giving them a much better understanding of their benefits package and the overall value of their employment. Thus, increasing retention, attracting talent and supporting employee’s well-being.
We’re keeping up to date with the current climate and producing numerous articles and e-books to advise and guide you through these turbulent times. See below our newest releases to stay in the know. You can also sign-up to our newsletter for upcoming guides and resources.
Our current top 5 resources:
- Tips on how employers support their staff with employee benefits
- How can you help ease financial pressures on employees?
- Rewards are changing. How can employee benefits platform can help?
- How to recognise success in a changing world
- Winning the war for talent: How the right benefit programme can help build the best team
If you’d like to chat with us regarding an employee benefits platform, then please get in touch today!
1 The ONS’s Opinions and Lifestyle Survey found that around nine in 10 adults (87%) reported an increase in the cost of living during March.
2 The ONS also reported that overall, 23% of adults found it very difficult or difficult to pay their usual household bills in the last month (*March) compared with a year ago.
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