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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

  • 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
    Hi Rachel,
    we have provided access to a financial wellbeing package for all staff to receive financial advice/assistance without any costs to themselves. The Board of Trustees have also agreed that everyone will receive a one-off 2.5% bonus in their November salary, in time for Christmas. A lot of thought went into this, with questions such as: should everyone receive the same percentage, should it be a flat-rate (e.g. £300 for everyone), should it be tapered with staff at different levels receiving different amounts. We opted for 2.5% of annual salary for everyone - worth mentioning that as a fairly small charity we also have a 2.5% salary increase in April. We can't cover all the consequences of the ongoing financial worries; but we can show we care.
    Gerry
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  • in reply to Rachel
    Hi Rachel,
    we have provided access to a financial wellbeing package for all staff to receive financial advice/assistance without any costs to themselves. The Board of Trustees have also agreed that everyone will receive a one-off 2.5% bonus in their November salary, in time for Christmas. A lot of thought went into this, with questions such as: should everyone receive the same percentage, should it be a flat-rate (e.g. £300 for everyone), should it be tapered with staff at different levels receiving different amounts. We opted for 2.5% of annual salary for everyone - worth mentioning that as a fairly small charity we also have a 2.5% salary increase in April. We can't cover all the consequences of the ongoing financial worries; but we can show we care.
    Gerry
Children