Article: 8 ways to support your employees through the cost of living crisis Written by Matthew Jenkin Tuesday 22 March 2022 Share Share to LinkedIn Share to Facebook Share via email With inflation and bills skyrocketing, you might not be in a position to give all your employees a pay rise. So what else can managers do? Inflation in the UK has risen by 5.5% in the 12 months to January 2022 – the highest level since 1992. This has led to a cost of living crisis that is already beginning to bite, with energy bills, petrol, food and clothing seeing particularly steep rises. The war in Ukraine may cause inflation to peak even further. “Many employees will rightly be concerned about their income levels,” says our new CMI economic briefing on the impact of the Russian invasion, “and this could feed into increasing stress at work and home and, at worst, mental health concerns.” Read CMI’s economic briefing on the Ukraine crisis – and steps managers can take Read it now In a crisis, good managers always provide strong support to their team members. But with organisations themselves facing inflationary pressures, it may not be possible to award pay rises across the board. That means managers need to explore other measures to make a difference – these may have the welcome side-effects of improving company culture and making employees feel more valued. Keep reading for eight effective ideas to support your people through the cost of living crisis Login or register below for Free Instant Access Login If you are already registered as a CMI Friend, Subscriber or Member, just login to view this article. Confirm your registration Login below to confirm your details and access this article. Sign in with email Email remember me remember Forget? Please confirm that you want to switch off the "Sign in with email" remember me feature. Yes No Register for Free Access Not yet a Member, Subscriber or Friend? Register as a CMI Friend for free, and get access to this and many other exclusive resources, as well as weekly updates straight to your inbox. You have successfully registered As a CMI Friend, you now have access to whole range of CMI Friendship benefits. Please login to the left to confirm your registration and access the article. Article Our extensive range of articles are designed to keep you in the loop with all the latest management and leadership best practice, research and news. Members See More CMI Members have access to thousands of online learning and CPD resources. Learn more about our membership benefits Join The Community CMI offers a variety of flexible membership solutions, tailored to your needs. Find out more and get involved in the CMI community today.
