Four-fifths think employers should help with rising living costs

Four in five (80%) employees said their employer should help with rising living costs, according to research by insurance and financial services firm Canada Life.

The survey was conducted by Opinium among 2,000 UK adults. It revealed that, in the face of the cost-of-living crisis, salary increases (54%), help with bills (23%) and travel allowances (23%) were some of the top support measures wanted by employees.

One in three (27%) said their employer had promised to help with increasing living costs but failed to deliver, and 48% admitted that the cost-of-living crisis has impacted their mental health. Almost half (47%) said their employer did not realise the impact of rising living costs.

The findings highlighted that staff also wanted help through a reduction in mandatory office days (18%) and one-off support payments (14%).

Dan Crook, protection sales director at Canada Life, said: “It’s clear the cost-of-living crisis is taking its toll on the UK workforce and employees are turning towards their employers for support and guidance. As such, employers will benefit from being flexible and listening to the needs of their staff when thinking about the role they can provide in the context of the workplace.

“Through uncertain times the benefits of workplace protection cannot be underestimated, and we urge employers to highlight the additional benefits and demonstrate the value it has for their employees. We know that financial distress and mental health are intrinsically linked. Through workplace support services employees can access expert guidance on financial issues, including reducing outgoings, budgeting advice, as well as debt management support.”