• Replies 85 replies
  • Subscribers 42 subscribers
  • Views 64754 views
  • Users 0 members are here
Options
Related

Mid-year 'cost of living' payment

Sophie

Hi everyone, 

I was wondering what others thoughts were on paying a one off payment mid-year to help with the rise in the cost of living.

Also if and what other companies were doing to help with the rise of cost of living.

Thanks

Parents

  • There are a number of large employers offering employees a one off amount to support with the cost of living crisis.  I was wondering what smaller employers or charities were thinking about this, and whether they had any plans to offer such a payment or what other support was being put in place.

  • in reply to Rachel

    The CIPD’s Summer 2022 Labour Market Outlook found a difference by employer size and sector in terms of cost-of-living payments.

    Overall, in response to the jump in the cost-of-living, 15% of employer have awarded, or plan to award, a cash lump sum (such as a bonus, stipend, allowance, etc) to some or all their workers to help offset price rises. This is in addition to any salary increases given or planned this year.

    By sector, 18% of companies in the private sector have done this or are planning to do this compared with 8% of employers in the public sector and 11% of charities in the voluntary sector.

    Large employers (17%) are more likely to have done this (or have plans to do this) then small- and medium-sized employers (13%). Similarly, large firms (21%) in the private sector are more likely to do this than small- and medium-sized businesses (14%).

    For more information overall, see this CIPD blog

Reply
  • in reply to Rachel

    The CIPD’s Summer 2022 Labour Market Outlook found a difference by employer size and sector in terms of cost-of-living payments.

    Overall, in response to the jump in the cost-of-living, 15% of employer have awarded, or plan to award, a cash lump sum (such as a bonus, stipend, allowance, etc) to some or all their workers to help offset price rises. This is in addition to any salary increases given or planned this year.

    By sector, 18% of companies in the private sector have done this or are planning to do this compared with 8% of employers in the public sector and 11% of charities in the voluntary sector.

    Large employers (17%) are more likely to have done this (or have plans to do this) then small- and medium-sized employers (13%). Similarly, large firms (21%) in the private sector are more likely to do this than small- and medium-sized businesses (14%).

    For more information overall, see this CIPD blog

Children
No Data