Feeling the pinch? Yeah, us too. Everyone’s talking about it – the cost-of-living craziness! It’s not just headlines, it’s real life. We’re breaking down what’s happening and how to keep your wallet happy.
The Office for National Statistics (ONS) reports that cost-of-living pressures in Great Britain persist, with the Consumer Prices Index rising by 3.9% in the 12 months to January 2025.
The most common reasons cited were:
Peaks seen in 2022 have subsided, factors such as global energy prices and supply chain disruptions continue to exert upward pressure on prices. The Bank of England has implemented measures to curb inflation, including increasing interest rates, which can impact borrowing costs for households and businesses.
As a business owner, you may have numerous concerns and questions, but there are steps you can take to help your employees navigate this challenging time.
How can we make sure our employees are supported?
Support and positivity at work keep your employees engaged and prevent them from looking for other jobs, which means your company doesn’t lose out on resources and productivity. Your greatest asset is your people, and there are many things you can do to help them get through these difficult times.
At OneHR, we collaborate with an Employee Assistance Programme (EAP) provider that offers 24/7 medical guidance, access to a GP, mental health support, legal and debt advice, and private access to expert counselling. Additionally, it provides access to retail discounts, which helps your employees manage their household expenses as well as their physical and mental health. Smaller organisations typically would not be able to sign up to this scheme, so we are proud to offer it to our clients as part of their retainer and at a very reasonable cost.
Businesses can also benefit from offering flexitime, reducing travel costs, offering breakfast at work, or temporarily subsidising lunches to help employees manage care commitments and reduce costs, ultimately benefiting both the workforce and the business.
How can businesses help their employees survive food insecurity and fuel poverty?
Let’s face it, the cost-of-living crisis is hitting everyone hard, and your employees are no exception. Food insecurity and fuel poverty aren’t just headlines; they’re real struggles people are facing daily. As employers, we’ve got a responsibility to step up. It’s not just about throwing money at the problem, though fair wage reviews are a must.
Think practical: subsidised food at work; flexible hours to cut commuting costs; and access to a solid EAP that offers real help with financial and mental wellbeing.
Partnering with local food banks and charities shows you’re invested in your community, too. It’s about building a workplace where people feel supported, not just employed. And honestly, a happy, secure team is a productive team. It’s good for your people, and it’s good for your bottom line.
At OneHR, we’re always happy to advise if you would like to know more about Employee Assistance Programmes or implementing a cost-effective cost of living support scheme that will work for you and makes a difference to your workers. Contact us today.
