How employers are responding to the cost of living crisis: The results of our HR Hub poll in November 2022
Allen Associates, News & Blog
HR professionals and employers from Oxfordshire and beyond were polled during our Zoom HR Hub in November which focussed on the cost of living crisis. Below are the results which paint a real-time, real-life picture.
Our guest speaker was Charles Cotton, Senior Reward Adviser at the CIPD, who explored the issues from an employer and employee perspective, and outlined some of the practical ways to help people reduce their living costs. You can read Charles’ blog here.
How employers are responding to the challenges
How worried are you that increased living costs will negatively impact your own standard of living over the next six months?
- 24% - Very worried
- 37% - Worried
- 37% - Slightly worried
- 2% - Not worried at all
Overall, thinking about your employees’ financial situation over the next six months, how do you expect this to change when compared to now?
- 43% - Worsen significantly
- 49% - Worsen a bit
- 6% - Stay the same
- 2% - Improve a bit
To the best of your knowledge, has there been any change in recent months in how much employee financial wellbeing is being discussed by senior management within your organisation in relation to rising costs?
- 75% - Yes, it is being discussed more
- 0% - Yes, it is being discussed less
- 15% - Not discernible change – discussions have remained about the same
- 10% - Not applicable, employee financial wellbeing has not been discussed at all
In your opinion, how worried is your organisation about the financial wellbeing of its employees?
- 6% - Extremely worried
- 68% - Quite worried
- 20% - Ambivalent
- 6% - Not at all worried
Has your organisation created a new policy to help support the financial wellbeing of its employees?
- 10% - Yes - it has been created and communicated to all staff
- 14% - Yes - it is currently being developed and will be launched shortly
- 12% - No - as we already have a policy in place
- 25% - No - but we are planning to create a policy soon
- 39% - No - and we have no plans for one
Useful links
The following links may be useful to employers looking for more information in relation to rising prices and the cost of living:
- The CIPD’s cost-of-living hub
- Money and Pensions Service
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