Two-thirds of London’s businesses offering extra support to staff during cost-of-living crisis

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New survey shows how London’s businesses support staff during cost-of-living crisis
credit Unsplash

Two-thirds of London’s businesses are offering extra support to staff, outside of pay, to help them through the cost-of-living crisis.

That’s according to a new survey from business campaign group, BusinessLDN.

The survey of more than 1,000 London employees reveals that 65 percent of firms are supporting staff with benefits that include flexible working and vouchers during the cost-of-living crisis.

The most common benefit London’s businesses are offering is flexible working, available to 34 percent of workers surveyed, followed by mental health support (18 percent), supermarket vouchers (17 percent), free or subsidised food (15 percent) and travel vouchers (14 percent).

In terms of what staff value the most, supermarket vouchers (50 percent), utilities vouchers (37 percent), travel vouchers (36 percent) and flexible working (34 percent) came top of their wish list.

Almost a third of London’s employees would value private healthcare and one in five employees would value mental health support during the cost-of-living crisis.

Of those surveyed that have the choice about where they can work, two-thirds (66 percent) said they are more likely to work from home to save money, compared with just over a quarter (28 percent) who are no more likely to work from home (6 percent were unsure).

A total of 73 percent of 18-24-year-olds would choose to work from home, compared to 40 percent of those 55 and over.

John Dickie, Chief Executive at BusinessLDN, said: “Helping staff through the cost-of-living crisis is weighing on the minds of London’s business leaders.

“Firms are sourcing creative ways to support their staff beyond pay, such as providing vouchers to help with rocketing utility, travel and supermarket bills.

“It is not surprising that two-thirds of Londoners, who have the choice, intend to work from home more to save money.

“While potentially good for individuals’ budgets, fewer people travelling into the city will hit hard-pressed hospitality and retail sectors and some businesses will be concerned about a potential fall in productivity.

“The Government needs to ease these pressures by reforming transport fares, tackling childcare costs and maintaining energy support.”

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