According to new data from Culture Amp, 60% or workers think their employers should help them with the cost of living crisis. What are your options for offering assistance?
If you want to help your staff with the cost of living crisis, your options include:
- making a one-off cost of living payment/bonus – this can be a set amount or a percentage of each employee’s salary
- offering inflation-busting pay increases – there’s nothing to stop you offering a second pay increase this year outside the terms of your usual annual salary review exercise, but do make clear that it’s a discretionary, one-off increase to help with the cost of living and it doesn’t set a precedent for future years
- enabling more home working to save on commuting costs
- expanding and promoting your benefits package, such as by offering enhanced pay during family-related leave, payment for professional subscriptions, and staff discount schemes