How businesses can support their employees during the cost-of-living crisis
For employers, the cost-of-living crisis can feel largely beyond our control. With utility bills rising for the majority of households and the cost of essentials taking up more of our monthly budgets, businesses may not know where to begin when it comes to how exactly they can support employees. Below, our partners tell us about the support initiatives they’ve set up to put the financial and mental wellbeing of their people first. Feel free to take note and get inspiration!
Most workplaces will be aware of how rising costs are impacting employee’s mental health. Worrying about money can cause stress and anxiety, which are likely to manifest at work. Taking action and supporting employees during the cost-of-living crisis, like our partners are, will ultimately support good mental health and will likely protect productivity.
- Our valued partner giffgaff are investing time into training their workplace on the link between mental health and money, and introducing employees to our Mental Health & Money Advice service, which contains information on how to look after your mental health during the cost-of-living crisis, as well as practical tips on how to manage your finances.
- Skipton Building Society, one of our partners in the finance sector, is supporting all non-senior leadership staff by giving them a one off payment to aid with the rising monthly costs and money management.
- Dune London have recognised the impact of increasing utility costs for homeworkers, who will be spending more on heating bills whilst working from home. They are supporting their homeworkers and flexible workers to work in the office throughout the winter months so that they can save on these costs.
- SGN, our partner who distributes gas to over 5 million homes across the nation, want to take action to support people on low incomes, people who are unable to afford utility bills and people facing mental health problems. They will be making referrals for those in debt and living with a mental health condition to our Mental Health & Money Advice service, which is here to offer practical support and guidance.
- Our close partner, Aldi, understand how long-term amends and action will be able to assist employees long term. They have undertaken an early interim pay review to ensure employees across the nation can receive a pay rise to support them during the crisis.
- Poundland are planning on executing an internal communications plan that will engage employees with Mental Health UK services and resources that can support them during this time, including Mental Health & Money Advice and our webinars, which feature current topics such as looking after your mental health during the cost-of-living crisis.
