Ryan FowlerRecent findings by Health Shield Friendly Society have brought to light the concerns of UK workers feeling unsupported by their employers during the cost of living crisis.
Although 91% of employees are more inclined to stay with companies that provide health and wellbeing benefits, a stark 50% perceive their employer as indifferent to the impact of living costs on their lives.
The research, which included both full and part-time workers across the UK, showed that 70% deem the health and wellbeing support from potential employers as important. Nonetheless, notable disparities exist among different income brackets and between genders. Employees earning below £25,000 annually and female workers reported feeling least supported, with only 77% of the lower-income group and 82% of female workers feeling their health and wellbeing are prioritised by their employers.
The ongoing cost of living crisis has undoubtedly left its mark on UK workers, with 84% asserting that employers should offer some form of support to combat these challenges. However, only half of the surveyed employees feel their concerns are recognised by their employers. This sense of neglect is more pronounced among female workers, with merely 45% believing their employer cares about the cost of living crisis’s impact, in contrast to 55% of male workers.
The financial strain is considerable, with workers stating they would need an extra £274 a month to meaningfully alleviate the stress from escalating costs. Nationally, this would require employers to spend over £104 bn, underscoring the significant financial burden on the workforce.
Additionally, the report highlights a surge in employee wellbeing concerns, with a marked increase in reports of exhaustion at work and instances of working while unwell. These factors have contributed to the highest number of people leaving the workforce due to long-term sickness since the 1990s.
Paul Shires, commercial director at Health Shield Friendly Society, underscored the importance of employers addressing these issues, noting, “Too many employees feel their employer does not care or understand what they are going through… Employers should be helping their workforce be as mentally and physically healthy as possible.” He advocates for the integration of healthcare benefits, such as health cash plans, into workplace support systems to aid employees during these challenging times, highlighting the critical role of health and wellbeing benefits in maintaining employee retention and satisfaction.
