How to offer end-of-year support and recognition during a difficult economic climate

According to the latest Opinions And Lifestyle Survey by the Office for National Statistics (ONS), sixteen million people have cut back on food and essentials during the cost-of-living crisis. With the Bank of England recently predicting that the country is heading into a recession and with energy prices set to increase by a forecasted 70% from October as we head into the colder months, employees are facing a difficult Christmas and end-of-year - especially lower-income families and vulnerable groups.

Coupled with that, many companies are not in a position to offer a pay rise, or even the typical annual bonus this year, leaving their hands tied on ways to make a meaningful difference in their people’s day-to-day lives, especially with Christmas and end-of-year costs starting to bubble up. 

But given the challenging circumstances your employees are facing, it’s more important than ever to take this time to make sure your people are feeling supported and valued.

According to a recent Reward Gateway study, 73% of employees would use any financial rewards received from their workplace for essentials, rather than luxuries.  

During our upcoming webinar on 1st September, I’ll be joined by our Director of Client Culture and Engagement Alex Powell to share with you ways to reduce the costs of Christmas and support your employees whilst keeping costs down for your company. 

If you’re looking for new ways to make an immediate positive impact for your people and start building a culture of appreciation through tangible and meaningful rewards and support, you don’t want to miss out on this session. We’ll also walk through what some of our clients have done to launch festive campaigns and initiatives to launch employee benefits with a WOW.