Nearly half of UK workers did not receive any workplace support to manage the impact of the cost of living in 2023, up 12 per cent from the year before, according to research by Unum UK.
The research conducted by independent consultancy, Censuswide, also revealed that compared to 61 per cent last year, 69 per cent of workers now list the overall expense of living as their top daily worry.
Pay increases continued to be the most popular kind of help provided by employers to those who did receive it; nevertheless, this year’s figures only somewhat reduced from 32 per cent in 2022 to 25 per cent this year.
Additionally, according to the report, 24 per cent of workers are looking for a second job, and 18 per cent are considering positions with better benefits or greater salary.
The tendency is especially noticeable among those between the ages of 16 and 34, where 27 per cent intend to change employment in order to get paid more and 28 per cent are thinking about taking on a second job in order to make ends meet.
Notably, 20 per cent say that they sought mental health treatment because they were worried about how much living would cost.
Unum UK HR director Jane Hulme says: “These results reveal a growing gap in employer support leading staff to stretch themselves in a bid to make ends meet. Offering a strong employee benefits package that supports employees physically, emotionally, and financially is key to enable a happy, healthy and productive workforce.
“Given the figures for those aged 16-34 above, it’s no surprise that 34 per cent of employees in this age group already report that they feel burnt out in 2023. Now is the time for employers to start considering the best and most effective benefits they can put in place. With employees reporting such a significant impact on their mental health, investing in resources in this area would be a beneficial place to start.”
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