The cost of living crisis in the UK is spiralling and the hardest hit are the poorest in society. As inflation increases faster than the minimum wage, there are many people choosing between whether to ‘eat or heat’.
The temptation of short-term loans and other desperate efforts to avoid poverty often leads to further debt. Award-winning psychologist and bestselling HR author Gethin Nadin, who is chief innovation officer at Zellis, and Jamie Broadley, group head of health & wellbeing at Serco, tell us why employers have a moral obligation to identify employees who may be living on the breadline and find ways to help them recover.
Other discussion points in the podcast include:
- What can businesses do to ease employee stress during the current cost of living crisis?
- How can an Employee Assistance Programme (EAP) benefit your staff and improve retention, new recruitment and prevent absence from work?
- How can you identify an employee who is struggling financially and how can putting a financial health policy in place help?
- What are the key benefits that can help people who are struggling to make ends meet?
- How can targeted L&D programmes, offering better flexible working arrangements and paying the Living Wage help employees living in poverty?