Large employers respond to the cost of living crisis - PwC survey

25-Aug-2022

- 83% of reward specialists at large companies are taking action or considering ways to help employees..
- Half are implementing or considering additional pay increases
40% are providing one off bonuses
- 15% are making non-financial interventions, such as help with travel, home insulation and shopping.

More than eight in ten employers from large UK businesses┬╣ are taking action to help staff in the face of the cost of living crisis, according to a new PwC survey┬▓. Financial support through focussed pay increases for essential workers (53%), additional pay reviews (51%) and one off bonuses (40%) are the top ways large businesses are intervening to help with rising inflation. This comes as the latest analysis from the ONS shows real regular pay has dropped by 3%┬│ and inflation as measured by the Consumer Price Index has moved into double digits4, with further increases expected.

To read the original article CLICK HERE.