79% want employer support during cost-of-living crisis

cost-of-livingEight in 10 (79%) of UK employees said their employer has an obligation to support them in managing the cost-of-living crisis, according to research by people analytics business Visier.

The survey of 2,010 full-time staff at UK organisations employing more than 250 people revealed that 71% did not feel their employer has adequately kept up with the cost of inflation, and 94% agreed that household incomes cannot keep up with the growing cost-of-living crisis.

Just under one-fifth (17%) said they planned to hand in their notice at work to take on a role offering a higher salary, and 14% wanted to increase their value with their current employer by showing them they could get a job somewhere else. Almost three in five (58%) expressed that they did not feel guilty about planning to hand in their notice in order to improve their employment package, and when asked why, 63% said that an alternative employer might pay more.

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When asked what percentage salary increase they would expect if handing in their notice in order to negotiate a pay rise, 25% wanted a 9% to 10% salary rise. Meanwhile, 31% would be less likely to leave if their employer offered flexible or hybrid working schemes, with 45% citing a bonus scheme as a reason to stay.

Ian McVey, managing director, Europe Middle East and Africa at Visier, said: “To support employees during these particularly turbulent times, business leaders must find the answer within the people data the business is operating with. For example, keeping abreast of employee sentiment and implementing robust employee experience strategies can create a picture of what it is like to work at a company, and how employees are feeling.

“Empowering line managers and HR teams with these insights can help businesses to not only place more emphasis on improving their retention strategy based on what the data is telling us that employees expect, but in supporting employees with the things they need in order to stay at the business.”