As we are all aware, there is an ongoing cost of living crisis which will inevitably have an impact on your employees' finances and wellbeing in 2022 and beyond.
Because of this, it’s likely that HR teams will be facing a lot of questions over the coming months and you may be in search of some answers. How will employers and employees react to the news? Will pay rises be able to match inflation? What will it mean for industries already grappling with strategies to attract and retain key talent? And what support is available for struggling employees?
The cost of living crisis will make life difficult for a lot of people but it’s also an opportunity to build loyalty by showing employees you’re there for them. There are creative ways businesses can help employees offset rising living costs and make every pound count.
I’ve recently written an article that may be of interest to some employers within this community. It explains the benefits of salary sacrifice and how it can provide at least one option to help with the cost of living now, for your employees.
Asking employees to give up part of their pay every month may sound counter-intuitive but it can make a lot of financial sense.