Call to book: 01983 861133

UK employers' struggle over the cost of living crisis set to continue

Our May 17th Cost of Living Crisis summit sees a range of experts take the debate to a new level and look at more innovative ways to support beleaguered HR professionals who are firefighting on several fronts right now. An expert analysis of exactly how long, how bad and how manageable the crisis is, should provide a sensible planning framework for starters.

Our first cost-of-living crisis conference last November saw around 150 large UK employers gather to examine the problems and possible solutions thrown up by the current crisis. It’s a perfect storm like no other; a huge hike in cost of living concurrent with one of the worst recruitment crises on record.

Financial obligations and the recruitment crisis go hand in hand

As well as providing valuable financial guidance and education to struggling employees, employers also need to be mindful that the need to meet financial obligations means, many employees may quit their jobs for a higher-paid post, thus exacerbating an already difficult recruitment problem.

Our November conference featured a range of experts who provided some practical solutions to some of these challenges. We examined financial and non-financial benefits and looked at tax and pension implications for employees. Mental health experts illustrated the effect of severe financial stress and gave employers some of the key warning signs to look out for. Difficult conversations are tough but vital for employers to ensure they keep their finger on the emotional and financial pulses of their organisations.

Panel discussion: Designing and Implementing a Pay Review; fair pay and living wage 

70% of HR professionals identifying the financial crisis as this year’s biggest challenge

But the journey is far from over. With over 70% of HR professionals identifying the financial crisis as this year’s biggest challenge, we are producing a follow up summit to support organisations with updates on the latest creative solutions.

Communication, as the pandemic crisis proved, is always key. We’ll be examining optimum ways to address this tricky subject in a sensitive and practical fashion, as well as learning about some of the latest innovative thinking to share with struggling employees.

Nobody wants a recruitment headache on top of everything else, so we will also arm employers with some expert advice on the best recruitment and retention strategies; D&I policies will be under close scrutiny at this time as potential candidates do their homework, so smart employers will be ensuring their organisation practices and communicates a truly inclusive culture.

Expanding our brainstorming sessions and sharing best practice 

Finally, on the feedback of our last audience, we’ve developed a series of themed brainstorming sessions to share best practice – delegates will be swapping and peer-reviewing solutions to public sector and charity issues, support for financial and mental wellbeing, what considerations need to be made for vulnerable ethnic and minority employees, collating and interpreting data and some innovative financial solutions.

Delegate feedback from our first event

“Very good debate about what can be done moving forward, looking forward to implementing some of what was discussed."

"I enjoyed the discussion about alternative incentives, as our organisation had not considered these."

"Highlighted some very key issues and viable practical solutions."

"Great insights into the impacts of financial stress on mental health, the importance of confident managers to have conversations and signpost for help."

FREE WEBINAR: 2nd Supporting Employees through the Cost of Living Crisis 

If you are interested in sponsoring this event please contact