Cost of Living Crisis – Employment Issues Arising?
What employment law issues should be on an employer's radar with the looming cost of living crisis?
With the cost of living crisis looming and impacting employees there are a number of different employment law issues that employers should be focusing on.
Communication and engagement and make sure staff are treated with dignity and respect, and do not feel embarrassed asking for help. As an employer it is important to be open and use staff networks and keep an inclusive environment, but keep problems confidential as employees run the risk of mental health issues. Creating wellbeing support will encourage staff and peer to peer communication.
Recruitment and retention will inevitably become more difficult to recruit and retain staff in competitive market or where pay is constrained.
Salary and package benefits should be circulated to all employees at this time and make everyone aware and know what is available to them. Consideration should be given to:
- Pension contributions
- Salary sacrifice schemes e.g. cycle to work, healthcare, childcare
- Vulnerable employees
- Pay rises or one-off payments or potential pay rise, however pay rises may not be the answer in the current climate, as high rates of inflation hit lowest-paid workers hardest.
- Consider risk of discrimination issues when looking at aspects of pay and benefits
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