More than one in three employees want more support from their employer to improve their financial wellbeing, research has revealed.
Reward and benefits provider Edenred’s survey of 2,000 UK employees found that 38% would like additional help through work with budgeting and managing bills. Inflation hit 5% in the UK before Christmas while further rises in energy prices are expected.
Meanwhile 64% of those polled by Edenred want further support to achieve a good work-life balance. Almost half said the pandemic had made them realise what they truly want from life.
Although a pay rise was the top factor cited that would keep people in their current roles, chosen by 47%, this was followed by more flexible hours (37%), the ability to work from home (31%), more perks (30%) and greater appreciation from employees (25%).
The research also explored the truth behind the so-called Great Resignation.
Since the beginning of the pandemic, 60% have stayed in their job compared with 27% that have moved to a new role. One in 10 of those polled had resigned in the past six months.
Looking forward into this year, a further 6% plan to leave their job in the next month and 12% plan to do so in the next six months. But almost half (45%) have no plans to leave their job.
According to the survey, 65% of those who remained in one role during the Covid-19 (Coronavirus) pandemic did not want to resign
Alisdair Seenan, HR director at Edenred UK, said that when it comes to people retention, employers have the power to deliver much of what employees want at the moment.
“The fact that the majority of staff felt well supported by their employer through the pandemic, with this having had a positive impact on their decision to stay, shows that the majority of organisations are already getting this right,” he said.
“The employers who continue to listen to employee concerns about the cost-of-living crisis and work-life balance and then do something about it will be the ones who will stand apart from the competition.”