Financial wellbeing | 6 creative & high-impact ways to support employees financially during cost of living increases

As many households shoulder the burden of reduced income and companies cancel or postpone their annual remuneration review or bonus schemes, it’s no wonder that financial security tops the list of issues employees are concerned about.

A recently released survey from Reward Gateway revealed that 57% of UK employees (and 61% globally) felt that stress from the cost of living increases is negatively affecting their work, and nearly half of employees are demanding more resources to improve their financial, mental and physical wellbeing from their employers.

"While the cost of living increases rage on as inflation hits a 30, even 40-year high, there are still ways of providing employees practical, financial support — and hope — in a challenging time."

Unsure of where to start or whether your efforts will make an impact? Ask your employees what they need and you may be surprised at what they’ll tell you and what problems you’ll be able to solve with even a limited budget. Below are some creative ways companies have responded to employee feedback and are making working through the cost of living increases a little easier on employees — and their back pockets.