The Cost of Living: Impact on employee wellbeing this winter

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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 look after their people.
The questions that are front of mind for most businesses right now are, how can we support their financial wellbeing and look after their mental health at the same time? Should salaries be increased to respond to the needs and demands of employees? Is it a case of introducing more effective, and more personalised support? 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 compensation is not just a number, but rather a culture of care. 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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