New research suggests that employers are increasingly offering support for their staff to pay household bills amid the ongoing cost of living crisis. The number of businesses giving increased financial support has risen sharply in the past year, according to a study by jobs site Totaljobs.
An analysis of job adverts also found an increase in those offering a four-day working week and a home working allowance. Most employers are still offering staff hybrid working opportunities in an effort to keep building costs down while supporting people worried about commuting costs.
This month also sees the removal of the £400 Energy Bills Support Scheme which had been providing a £66/£67 monthly discount to some 29 million households across Great Britain. The UK Government’s £2,500 Energy Price Guarantee scheme, which caps the daily standard charges on gas and electricity, has been extended until the start of July.
Commenting on the research findings, Julius Probst, European labour market Economist at Totaljobs, said: “Recruitment has held strong despite rising economic challenges and although salaries are rising, we’re seeing massive shifts in the benefits employers are offering to attract and retain talent.
“In this market, it’s become apparent more than ever that employers must ensure they are offering salary and benefits packages which truly work for all employees.”
He added: “Pay, benefits, the employee experience - all of these factors are vital in attracting and retaining talent.
“Salary benchmarking, benefit reviews and transparent communication are key as the rising cost of living puts an even greater spotlight on pay than ever before.”
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