How can employees save cash during the cost of living crisis?

It’s no secret that people are feeling the pinch right now with the cost of living crisis in the UK. It’s tough out there, with prices for the necessities like food and energy on the rise. Everyone’s looking for ways to save some cash and as it turns out, a lot of people are turning to their employers for help.

A recent survey by YouGov found that a whopping 70% of respondents said that saving money was the top priority when it came to benefits offered by their employer. So, if you’re an employer looking for ways to support your team, we’ve got some ideas for you.

There are lots of ways you can help your employees save money through employee benefits such as perks, health benefits and salary sacrifice schemes. When it comes to electric vehicle salary sacrifice schemes, your employees can save upwards of £1,200 a year on a brand-new electric car. With Octopus Electric Vehicles, not only do they make tax savings, they’ll get extras like a free home charger or public charging credit. It’s a win-win situation: your team gets a shiny new EV and you get to reduce your carbon footprint.

Sign up to our newsletters

Receive news and guidance on a range of HR issues direct to your inbox

This field is for validation purposes and should be left unchanged.

Coupling an EV salary sacrifice scheme with a perks program to give employees discounts on a variety of products and services, plus health benefits, like gym memberships or wellness programs is a powerful way to support your team. By offering these types of benefits, you’re not only helping your employees save money, but also improving morale and retention rates.

Of course, there are tons of other employee benefits out there, but the important thing is that you’re showing your team that you care and are willing to help them out during these tough times. Trust us, they’ll appreciate it.