Social Research ¦ Market Research ¦ Behavioural Insight ¦ Evaluation ¦ SROI
Social Research ¦ Market Research ¦ Behavioural Insight ¦ Evaluation ¦ SROI
M·E·L Research has used its latest “Research with a purpose” omnibus study to explore how the current cost of living crisis is impacting upon workplace wellbeing and employee loyalty.
Most notably, two in five (41%) of those employed either full or part time indicate that the cost of living crisis has resulted in reduced morale and motivation where they work. Furthermore, a third (34%) suggest that the cost of living crisis has made it harder for them to concentrate/focus at work. These findings have clear implications for both mental wellbeing and individual productivity.
Alongside this, two in five (43%) employees state that the cost of living crisis has made them less willing or able to take part in work social events. Among those who indicate that they are definitely worried about the cost of living crisis, this proportion rises to 57%.
In terms of how employees are seeking to mitigate the financial pressures being experienced, a third (35%) say that the cost of living crisis has made them start searching for a similar job, and 39% state it has made them think about a change of career with better pay. While this means a majority of employees are not taking such actions, these findings do suggest more challenges for employers in terms of employee retention, are likely to emerge.
Commenting on these results Steve Handley, Quantitative Research Director at M·E·L Research said:
“Our team developed these questions in order to start to unpick how cost of living pressures might be influencing employee experiences and to what extent they are reshaping the relationship between employees and employers. Reduced morale and motivation, a reduced ability to focus, less work socialising and a willingness to leave their current employment appears to be a fairly toxic mix, potentially creating a myriad of challenges for employers. While pay and personal finances are rarely topics that are discussed openly in the workplace, these findings do suggest that there is an imperative for line managers to get some handle on what the cost of living crisis means for those they manage.”
If you are interested in finding out more abour our Employee Experience work, please contact Steve Handley.
A sample of 1,536 UK residents were surveyed online between 26th October to the 31st October 2022.
Weights have been applied by UK nation, age and gender to ensure that the data is representative
