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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
  • Hi Sophie,
    In our company, we made a higher than usual pay increase at the end of last year in anticipation of it being a difficult year. We've also just made a one-off payment to all staff of the same lump sum across the board.
    Another thing we've done is to do really clear signposting on our internal homepage to all the financial assistance available from the government so people can find out what's relevant to them.
    We've been broadcasting financial wellbeing webinars in our meeting room for people to attend if they'd like to, and intend to carry on doing this.
    Laura
  • in reply to Laura
    Did anybody see this?

    www.thetimes.co.uk/.../call-to-halve-stamp-duty-if-you-fit-heat-pump-xz0qtfk8k

    "Other proposals include a salary sacrifice scheme under which cycle-to-work schemes would also be used to help people buy electric vehicles and heat pumps; carbon labelling on food; and new grants to help people with the high cost of retrofitting homes."

    This is what I had mentioned previously about a salary sacrifice scheme to help people have more energy efficient homes.
  • in reply to Liane

    Hi Liane - I don't think this is a vost-of-living measure. It's a pitch by a "centre-right" think tank re net zero.

  • in reply to Liane

    Here’s a link to the report that this article is based on. The proposals regarding workplace salary sacrifice to help employees buy green tech is on page 63. It’s not clear whether double glazing or insulation would come under these proposals. As Steve says, the focus was originally on encouraging adoption of green technology. However, given the current increase in energy bills, anything that helps reduce consumption will be useful.

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  • in reply to Liane

    Here’s a link to the report that this article is based on. The proposals regarding workplace salary sacrifice to help employees buy green tech is on page 63. It’s not clear whether double glazing or insulation would come under these proposals. As Steve says, the focus was originally on encouraging adoption of green technology. However, given the current increase in energy bills, anything that helps reduce consumption will be useful.

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