Almost one in two UK employees did not receive any support from their employers to help manage the cost-of-living crisis this year, up 12% from 2022, according to Unum UK.
The research, conducted by independent consultancy Censuswide, also revealed that compared to 61% last year, 69% of workers now list the overall expense of living as their top daily worry.
Pay increases continued to be the most popular kind of help provided by employers to those who did receive it; nevertheless, this year’s figures only somewhat reduced from 32% in 2022 to 25% this year.
Additionally, according to the report, 24% of workers are looking for a second job, and 18% are considering positions with better benefits or greater salary.
The tendency is especially noticeable among those between the ages of 16 and 34, where 27% intend to change employment in order to get paid more and 28% are thinking about taking on a second job in order to make ends meet.
Notably, 20% say that they sought mental health treatment because they were worried about how much living would cost.
Unum UK HR director Jane Hulme said: “These results reveal a growing gap in employer support leading staff to stretch themselves in a bid to make ends meet. Offering a strong employee benefits package that supports employees physically, emotionally, and financially is key to enable a happy, healthy and productive workforce.
“Given the figures for those aged 16-34 above, it’s no surprise that 34% of employees in this age group already report that they feel burnt out in 2023. Now is the time for employers to start considering the best and most effective benefits they can put in place. With employees reporting such a significant impact on their mental health, investing in resources in this area would be a beneficial place to start.”
