Cost-of-living crisis: How to help your employees

• Review your reward strategy – if you can afford to offer a cost-of-living bonus, make sure it doesn’t inadvertently do more harm than good for those who claim Universal Credit or Tax Credits.
• Review your financial wellbeing policy – do your people know what help is on offer and how to get it? 
• Review your benefits package – is it working hard enough for those most in need? Again, does everyone know what’s on offer and how to access it?
• Consider the legal implications – if your employees want to undertake second jobs and cover rising living costs. Find out more about what the implications are for a zero-hours worker wanting to take a second job (see ‘Recent UK law changes on zero-hours contracts’ section).
• Train your managers – using our line manager development exercises to ensure your managers provide the right support to staff through the cost-of-living crisis.
• Empower your employees to be heard – to create an inclusive environment that makes employees feel understood and recognised.
• Build your communication strategy – to establish trust in challenging times and create dialogue between managers and employees. 
• Examine the CIPD Reward management survey – which looks at the various ways employers are helping with financial wellbeing and tackling in-work poverty.

Employee financial wellbeing

Guidance for HR practitioners and employers to support their employees’ financial wellbeing.

Tackling in-work poverty: guidance for employers

This in-work poverty guide explains what it is, who it affects, how it affects us and how employers can help people out of it.

Stress in the workplace

Learn how to identify the signs of stress, address stress at work, and distinguish between stress and pressure.

Supporting mental health at work: guide for people managers

Information, advice and templates to improve support for those experiencing stress and mental ill health.

Life on low pay as inflation begins to ease

An October 2023 report from the Living Wage Foundation on the impacts of low pay amid the cost-of-living crisis.

Urgent need for employers to break down money taboos

A July 2023 report on financial wellbeing from the National Forum for Health and Wellbeing at Work and Alliance Manchester Business School. Featuring strategies to support employees during the cost-of-living crisis.

CIPD research shows year-to-year fall in keeping up with bills and other commitments

In this blog post, we explore how the cost-of-living crisis has impacted on our ability to keep up with our financial committments.

How private sector employers have been helping workers cope with the cost-of-living crisis

In his CIPD Voice article, Charles Cotton analyses the CIPD's Autumn Labour Market Outlook and its findings on the cost-of-living crisis.

Employers and the cost of living: Taking action to support your employees

Access The Joseph Rowntree Foundation's cost-of-living tracker for essential insight and recommendations.

Wage rises and other cost-of-living support provided by employers

Find out what employers have been doing to help their employees and the support they have planned.

Why employer cost-of-living help can fail universal credit claimants

Hear what a tax expert has to say about the risks of cost-of-living support for employees on universal credit.

How HR professionals can help staff cope with the cost-of-living crisis

Practical cost-of-living support that HR professionals can provide to help employees through the cost-of-living crisis.

Why paying the Living Wage isn’t enough to boost employee financial wellbeing in a cost-of-living crisis 

Key insights on what the Living Wage is and why it doesn't go far enough in supporting employees in a cost-of-living crisis.

One+All: Protecting workers from financial struggle

Explore an example of how one small-sized employer is helping its employees cope with the cost-of-living crisis.