Leadership & Management

Balancing Employee Wellbeing with Cost of Living Crisis

Eliza Turner · 31 Jul 2026

Plenty of my colleagues are struggling to make ends meet with the current cost of living crisis in the UK, and we have had to implement some cost saving measures in our company to stay afloat. We do not want to compromise on employee wellbeing, but we are finding it tough to keep up with the rising costs of providing benefits and support. Many of our staff are having to take on second jobs just to get by, which is affecting their productivity and morale. How can we as employers support our staff through this difficult time without breaking the bank?

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4 replies

Amber Hughes · 31 Jul 2026

Given the current economic situation, I think we're overlooking the potential long-term effects on staff turnover and recruitment costs if we don't find a way to support our employees through this crisis. We cannot afford to lose our top performers to companies that are willing to offer more comprehensive support, and I've seen it happen already with a few of our team members who've left for better paid roles at companies like Google or Microsoft. If we do not find a solution, we risk losing the talent and expertise we've spent years developing, which would be a significant blow to our business.

Stella Ford · 31 Jul 2026

I've seen a few companies try to offset the cost of living crisis by offering extra perks like free meals or on-site gyms, but honestly, that didn't work for us when we tried it last year. We spent a small fortune on a fancy new canteen, but it was barely used and ended up being a waste of resources. What we're considering now is working with a company like Wagestream to offer our staff access to their earned wages ahead of payday, which might help them avoid taking on second jobs.

Hazel Lamb · 31 Jul 2026

Honestly we've found that a simple flexible working policy can help staff balance second jobs without killing productivity.

Denise Fox · 31 Jul 2026

Honestly I think we're kidding ourselves if we think we can fully mitigate the cost of living crisis for our staff. We've started looking at flexible working hours to help people manage their second jobs or family commitments, and it's been a challenge to make it work but so far so good.