Winter is on its way, and the cost of living increases continue to make uncomfortable headlines in the UK. Here we share ways to support your employees in the lead up to Christmas.
In June 2022, the Office of National Statistics published an article on the worries amongst adults concerning the rising cost of living in Great Britain.Amongst those surveyed, 77% of adults admitted to feeling either ‘very’ or ‘somewhat worried’ about the rising costs of living.Furthermore,68% had experienced an increase in their cost of living expenses and had curbed their spending on non-essential items.1
It is also worth noting that many people are still recovering financially from the impact of the COVID-19 pandemic. According to the latest Salary Finance report,over half of UK employees are struggling more with their finances since COVID-19, and 14.5 million are concerned about their financial situation over the next six months.2
It is fair to say that a significant amount of the UK workforce is negatively affected by the cost of living increases, and now is a crucial time for employers to take some positive steps.
There are some employees that may view this action as long overdue.
A recent press release by the Chartered Institute of Personnel and Development (CIPD) revealed ‘one in five people say their employer is not doing enough to support their financial wellbeing.’ The CIPD recommends that ‘employers need to start offering greater financial wellbeing support to their workers’ and ‘to do their bit as a responsible employer in the midst of the cost-of-living crisis’.3
Now Christmas is around the corner; inflation rates are at a 40 year high,4 and with many people’s finances already stretched, it can all prove a little overwhelming.
But what can you do to help your employees as the festive season approaches?
You may be interested to hear that a pay rise or a one-off cost of living payment aren’t the only choices. There are ways you can help your employees reduce their bills, save on everyday items and cut the cost of Christmas.
Vivup, an established health and wellbeing benefits provider, has supported employees in the public and private sector for the past fifteen years. Here at Vivup, we offer a wide range of cost-effective, robust wellbeing initiatives created to make a positive difference in the daily lives of employees. Vivup’s Lifestyle Savings employee benefit offers savings & discounts across hundreds of retailers enabling employees to save on everyday essentials such as the weekly shop, utility bills and car breakdown cover. With Vivup’s Home and Electronics employee benefit, your people can spread the cost through their monthly salary on home and electronic items including furniture, the latest tech and household appliances*.
You can also support your employees’ wellbeing during the difficult winter months.
Vivup offer a Wellbeing and Employee Assistance Programme which includes a 24/7 telephone helpline offering support 365 days a year, face-to-face counselling, and access to self-help workbooks with valuable information to help support employee wellbeing. There’s also ‘Your Care’, a brand-new health management platform focusing on proactive care, enabling employees to take health assessments, set goals and access a variety of resources such as blogs, videos, recipes and much more.
Through Vivup, you can introduce a reward and recognition programme, provide your people with debt management tools and offer your employees a health cash plan which enables them to claim cash back on dentist and optician billsΔ*. Your employees can also save on fuel costs with the Cycle to Work employee benefit. Best of all, your employee benefits can all be accessed on one easy-to-use platform.
If you want an employee benefit platform that can help you build a happier and healthier workforce, reduce absenteeism, improve your employer brand for better recruitment and help to decrease your overall business costs, then Vivup is the answer for you.
Vivup’s implementation process is quick and efficient, offering dedicated account support and providing you with award-winning communications. There are no set up fees and Vivup can tailor a solution to suit you and your business.
Now is the perfect time to implement some meaningful employee benefits just in time for your employees’ Christmas shopping!
So, are you ready to support your people?
To learn more about how Vivup can help ease the cost of living increases, email firstname.lastname@example.org or give our helpful team a call on 01252 784541.
*T&Cs apply. Home & Electronics is provided via a Salary Sacrifice arrangement.
ΔT&Cs apply. Benefits are payable according to the benefit schedule up to the maximum benefit per Insured Person in each Scheme. Exclusions may apply.