Search Results for: cost of living

Cost of living pressures hurting productivity and wellbeing

Cost of living pressures hurting productivity and wellbeing

by • News, Workplace

three quarters (74 percent) of HR leaders fear the cost of living crisis is affecting employee performanceNew research investigating how cost of living pressures are impacting the workforce has found that three quarters (74 percent) of HR leaders fear the cost of living crisis is affecting employee performance. In the survey of 500 UK HR Directors, carried out by Nous.co, a third (34 percent) of HR leaders said they’d noticed a drop in productivity due to employees having other things on their minds. Three quarters (74 percent) said financial pressures were directly affecting employee performance. More →

Cost of living crisis and other employee concerns are top risk concerns of businesses

Cost of living crisis and other employee concerns are top risk concerns of businesses

by • News, Wellbeing, Workplace

The managers and owners of firms across the UK now believe that the cost of living crisis is the top risk to their business, closely followed by a range of employee related issuesThe managers and owners of firms across the UK now believe that the cost of living crisis is the top risk to their business, closely followed by a range of employee related issues, according to a new poll. Employee related risks in the top five include lack of skilled talent, employee retention and cost of salaries. Despite the cost of materials continuing to rise over the last 12 months, this risk has dropped back from first place in 2022. Risks relating to debts, late payments and fraud all make an appearance in the top ten for the first time. More →

Cost of living crisis incentivises people to work from home

Cost of living crisis incentivises people to work from home

by • Flexible working, News

A new report claims that rising numbers of the people in the UK are choosing to shop and work from home to make every penny countA new report claims that rising numbers of the people in the UK are choosing to shop and work from home to make every penny count as the cost-of-living crisis continues. These insights mark the launch of the second Virgin Media O2 Business Movers Index – a quarterly barometer that combines anonymised and aggregated UK movement data from O2 Motion, with national polling findings to reveal key trends relating to the behaviour of 2,000 British businesses and 1,000 UK consumers. Together, the data paints a picture of movement patterns and the trends behind them. The second quarter of this year reveals a more cash-conscious image of Britain as more of the UK public change their behaviours to cope with a tough economic backdrop. More →

Cost of living driving employees to seek new jobs or more help from employers

Cost of living driving employees to seek new jobs or more help from employers

by • News, Wellbeing, Workplace

A large majority (84 percent) of employees are experiencing stress and anxiety due to the cost-of-living crisis, yet two-thirds of employers aren’t offering any financial or emotional supportA large majority (84 percent) of employees are experiencing stress and anxiety due to the cost-of-living crisis, yet two-thirds of employers aren’t offering any financial or emotional support. This is the key claim in a new report from Workhuman which suggests that employees across the UK are struggling with the ongoing cost-of-living crisis, with 62.5 percent considering leaving their current job if their employer doesn’t recognise their financial struggles or does nothing to support them. The survey of 1,000 full-time employees across the UK also claims that 77 percent of employees said their employer could be doing more to support them financially and emotionally through the current crisis. More →

Cost of living will become biggest challenge for HR over the next year

Cost of living will become biggest challenge for HR over the next year

by • News, Workplace

A new poll from employment law and HR consultancy firm, WorkNest, claims that 70 percent of HR professionals believe that the cost of living will be their most significant challenge for 2023. This was closely followed by retention (69 percent) and recruitment (55 percent). A third of those questioned also see skills shortages (34 percent) as a significant HR challenge next year, and employee engagement (24 percent).   More →

Cost of living forcing people to seek out sources of extra income

Cost of living forcing people to seek out sources of extra income

by • News

A selection of British cash to illustrate cost of living crisisWorkers are looking for new jobs, asking for extra shifts, or taking on side hustles to make ends meet as everyday expenses eat up a bigger chunk of their pay cheques. A new Qualtrics study claims that 77 percent of workers say it’s harder to pay for their living expenses than it was a year ago. In the UK, inflation recently rose above 10 percent for the second time this year amid soaring food prices. Compounding the impact of the cost of living, many of the work-related expenses that were relieved by remote work, such as commute costs and full-time childcare, are returning as an increasing number of people head back to the office. More →

Working habits are changing in response to cost of living increases

Working habits are changing in response to cost of living increases

by • Flexible working, News, Workplace

commuters in London to illustrate changing working habitsThe so-called cost of living crisis is having a fundamental impact on people’s working habits, according to Beamery’s latest Talent Index – Sixth Edition. Almost a third (29 percent) of workers polled for the report are now avoiding the office because of the increasing cost of travel whilst another third cited (31 percent) they were considering leaving their jobs completely due to lack of salary increases. More →

Brexit uncertainty leads to drop in cost of living rankings for UK cities

Brexit uncertainty leads to drop in cost of living rankings for UK cities 0

by • Cities, Facilities management, News, Property

Moving to BirminghamUK cities have dropped down the ranking in Mercer’s annual Cost of Living Survey this year as Brexit fears weaken the value of the Pound, whilst the Euro stays strong against the Dollar. Although the UK’s capital remains in the top 20 costliest cities worldwide, London (17) has dropped five places, whereas Aberdeen (85) and Birmingham (96) have fallen seven and 16 places respectively. Further down the list, (119) has dropped 10 places and Belfast (134) three. The survey finds that factors including currency fluctuations, cost inflation for goods and services, and instability of accommodation prices, have all contributed to the cost of expatriate packages for employees on international assignments. Mercer’s survey covers 209 cities across five continents with Hong Kong ranking highest, pushing Luanda to second place. Ranking 3rd, Zurich is the most expensive European city, followed by Singapore (4) and Tokyo (5).

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Two in five people are working extra hours as cost-of-living crisis bites

Two in five people are working extra hours as cost-of-living crisis bites

by • News, Wellbeing, Workplace

A new poll suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employeesA new poll suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employees, with more people working extra hours, more struggling to buy food or pay their bills, and fewer being able to afford to take sick days, compared to mid-2022. HR software provider Ciphr surveyed 1,000 employees across the UK about their experiences of rising living costs in 2023, and any actions they’ve taken, or have considered taking, because of financial pressures. More →

Public concerned about risk of unemployment, day to day living costs, and economic growth

Public concerned about risk of unemployment, day to day living costs, and economic growth

by • News, Working lives

publicA large majority of the public are concerned about rising unemployment (82 percent), day to day living costs (80 percent), and low economic growth (77 percent), according to a PwC survey of 2,000 people across the UK. Pandemics and other health crises (84 percent), cyber crime (82 percent), and climate change (81 percent) were other key concerns according to the research, which looks at the UK public’s attitude to risk.
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Half of self-employed fear they cannot cover basic living costs

Half of self-employed fear they cannot cover basic living costs

by • News

self-employedNew research by IPSE (the Association of Independent Professionals and the Self-Employed) claims that almost half (45 percent) of the self-employed fear they will not have enough money to cover basic costs like rent and bills during the Coronavirus crisis, despite the government support on offer. Overall, two thirds (66 percent) also say they are worried they will burn through all their savings in the next three months. More →

Commuting costs continue to put strain on office worker finances

Commuting costs continue to put strain on office worker finances

by • Flexible working, News, Wellbeing

UK employees are suffering higher cost-of-living expenses, especially due to transportation costs and tensions may rise as many companies enforce return-to-office policies. That is according to the latest study conducted by Capterra on 248 U.K. employees, the majority (69 percent) say their work-related costs have increased over the past 12 months, especially the price of groceries (95 percent), utilities (85 percent), eating out (78 percent), and petrol (63 percent). More →

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