Cost-of-living | Supporting your employees through tough economic changes

It’s been a tumultuous period in British politics. Liz Truss’ short stint as Prime Minister and the now infamous mini budget saw money markets panic, and economic policy shift at rapid speed.

These events occurred during an already bleak economic outlook with high inflation and soaring energy bills making the cost-of-living more expensive for everyone.

Events like these affect all of us, and business leaders and HR departments will have no doubt noticed that rising uncertainty is starting to take its toll on its employees.

Why? Because periods of economic uncertainty give rise to stress and anxiety. Employees in sectors who are likely to be more affected by a recession will be worried for their future job prospects. That’s despite unemployment being at record lows and the narrative in certain jobs markets being about businesses crying out for more staff in the last year.