The Cost of Living: How affected are employees

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With living costs continuing to surge, employees are increasingly worried, and unsure where to turn. With the reasons ranging from fear of discrimination, and feelings of shame, to a lack of trust. At the same time, businesses everywhere are under pressure to adjust their compensation and benefits for employees, to retain their best talent, and stay competitive in the market.
The questions that are front of mind for most businesses right now are, what is the best way to look after our people, and keep them safe and secure, while also staying competitive in the jobs market? Should salaries be increased to respond to the needs and demands of employees? Is it a case of introducing more effective, and more valuable, benefits to attract and retain the best talent? Or is it simply a case of maintaining our existing policies?
The truth is, the world of work has experienced a huge shift in recent years, with more power now lying in the hands of employees. Those searching for a new role or exploring their options in 2022 expect the best support, not just the best salary.
This means, ensuring that overall compensation is as attractive as possible, is one of the biggest levers that businesses have in the jobs market. The good news is that financial wellbeing support, and effective mental health support strategies, can help employees make the most out of their salary, and feel more settled and secure.
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