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Supporting employees during the cost of living crisis

What can you do to help your employees during the cost of living crisis? Luiza Jordan from HSF health plan share seven tips for employers.


When the cost of living rises above what we’re earning, we can start to experience financial difficulties. There’s no simple quick-fix for improving the financial situation for our employees – and it’s not always as simple as raising salaries if budgets do not allow. 

Here’s seven top tips for employers looking to support their teams: 

1. Look at your wellbeing strategy. 

Look at the benefits you offer employees – how many of them focus on health and wellbeing? Even if new benefits you add help in smaller ways, a little can go a long way. For example, you might look to cover certain everyday reoccurring expenses. 

2. Add impactful health benefits

Healthcare expenses can add up, so giving employees the ability to reimburse some of their costs, such as optical, dental, physiotherapy, specialist consultation, treatments, and more can be powerful. CFG members can learn more about covering health benefits here. 

3. Introduce digital wellness services 

When lots of us are experiencing financial stress, it can be easy to forget to take care of ourselves without getting overwhelmed with wait times, taking time off to travel, and more. 24-hour, digital health benefits like counselling services, GP advice lines, virtual doctors, private prescription services, and even legal advice ensure your employees can take care of their wellbeing.  

Whenever they need support – it's there. Learn more here. 

4. Create a culture that supports mental health 

There’s a link between financial worries and mental health. The more stressed you feel about money, the more it can impact your mental health. The worse your mental health gets, the harder it is to manage your expenses.  

The most helpful way to create a positive culture is ensuring work is not a stressful place to be. For example, that means setting healthy boundaries – like ensuring employees are not online past their working hours sending emails. 

5. Time to talk 

Create an open and supportive workplace where managers and employees can discuss any issues associated with financial wellbeing is crucial, as well as making available resources accessible to help.  

6. Help employees to save 

Have you and your team recently returned to the office? Consider introducing more flexible working styles, like increased remote work. This could allow employees to make huge savings on weekly travel expenses; like fuel or train tickets.  

7. Added discount perks  

Our advice is to look out for benefits that include added extras to save money. Redeemable discounts on food shopping, lifestyle and leisure expenses are always helpful, especially when employees are focused on saving (especially with Christmas coming up). Small savings will go a long way.  

Interested in covering your teams’ health costs, offering discounts, and adding 24-hour help lines to your wellbeing strategy? CFG members can learn more and sign up here. 



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