As many households shoulder the burden of reduced income and companies cancel or postpone their annual remuneration review or bonus schemes, it’s no wonder that financial security tops the list of issues employees are concerned about.
Recently, the Office of National Statistics reported nearly 1 in 4 adults have said the coronavirus was affecting their household finances, with the top concerns labelled as reduced income, using savings to cover living costs and struggling to pay bills.
The World Economic Forum has gone so far as labelling the rising anxiety over its economic consequences a “second pandemic.”
While employers have no way of predicting when business will return to normal, there are still ways of providing employees practical, financial support — and hope — in a challenging time.
Unsure of where to start or whether your efforts will make an impact? Click here to read more.