'Action is critical' | Almost two-thirds of staff set to quit due to cost of living

The UK is currently experiencing its biggest cost-of-living crunch in decades as UK inflation soars, but a mere 5% of employees believe their employer is doing enough to support them through the crisis. Couple this with the struggle to retain staff due to the Great Resignation and the pressure on employers to keep talent is high.

This is a wake up call to employers who need to do more. Over 85% of employees believe that employers who support them during the cost-of-living crisis would make them more loyal to the business they work for. Conversely, employers who fail to address this issue are likely to lose their talent - almost two thirds (63%) would leave their current job in order to find an opportunity that provides better financial support during the current cost-of-living crisis.

So as employees call for help, employer intervention is now critical, according yo Blackhawk Network, which conducted the research in conjunction with Sapio, to support the launch of its new Blackhawk Network Extras Benefits Platform.

Workplace benefits are hot property at a time of crisis

85% of employers agree that they have a duty to support their employees as the cost-of-living rises. While raising wages might seem a simple fix, businesses are also impacted by rising costs and inflation making pay increases unviable. But that doesn’t mean there’s nothing they can do to help. 83% of employees agree that workplace benefits play an important role in helping to balance finances as the cost-of-living continues to rise; and 95% of employers agree.