Two-fifths (41%) of UK employees want more financial support for energy bills from their employer to manage rising costs due to the Iran war, according to research by employee benefits technology provider Zest.
Its survey of 2,000 UK employees also found that despite being one of the most in-demand workplace benefits, only a quarter (27%) of respondents currently receive financial support for energy bills.
Almost half (49%) admitted they are concerned about the rising cost of energy bills, which is putting additional pressure on household finances.
Two-fifths (44%) also said they want additional financial support from their employer due to rising mortgage, rental and childcare costs also putting pressure on household budgets, especially with wage growth at a low level.
More than half (58%) thought their benefits package was inadequate last year and just under three-quarters (70%) would leave their job if another organisation offered them better benefits.
Matt Russell, chief executive officer of Zest and Epassi UK, said: “As energy prices soar, many households are approaching a financial breaking point. Energy consultancy Cornwall Insight estimates that average annual household energy bills could go up by £332 in July as a result of global disruption caused in the war in the Middle East.
“Employers can ease some of the pressure by offering greater financial support to their employees to manage rising costs of energy bills or consumer goods. They should be looking for alternative solutions to maintain morale and support the financial wellbeing of employees. Employers that are unable to do this risk losing talent, which impacts their competitive edge and, ultimately, commercial performance. Leveraging benefits technology platforms allows employers to offer personalised packages and communicate clearly what’s on offer to drive engagement with benefits and value for money.”
