How the cost-of-living crisis is evolving for HR

uploaded on 26 April 2023

Although inflation has started to fall, the Bank of England predicts businesses and employers will continue to feel the pinch well into 2024. Supporting employees will continue to be a top business priority with one in six employers saying the cost-of-living crisis poses the biggest threat to performance in 2023.

We’ve identified five key areas from the research and provided recommendations on how you can use the insight to shape your own strategy.

69% of HR leaders are planning to review pay and rewards.

Download the report to learn the key actions that HR teams can implement straight away to support employees in the year ahead.

Key recommendations include:

  • Ensure pay and support is fair and transparent
  • Evolve support from emergency response to sustainable interventions
  • Rethink support through an employee experience lens
  • Develop a plan to report on the impact of the cost-of-living crisis