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Isio insights: Weathering the storm

In this paper third paper, Isio shine a light on financial stress

Isio’s research reveals eye-opening insight into the UK workforce’s attitudes towards work, finances, moving jobs and employee benefits. It aims to help employers, particularly senior HR leaders, understand how their organisations can maximise value from their benefits packages and even harness the benefit package to address staff turnover challenges.

In this third paper of eight, Isio asks whether employers know what’s keeping employees awake at night? And why should an employer support those facing financial turbulence, and how could employee benefits do more?

Key findings:

  • Personal finances are not going to improve in the short term, with more people resorting to more drastic cutbacks. Any further squeeze is likely to have a more material impact on wellbeing.
  • Employers are uniquely positioned to help. Apart from making a real difference to people’s wellbeing, there is a bottom line benefit to be gained in the form of increased productivity and reduced employee turnover.
  • Introducing flexibility in the benefits package is one effective solution to help ease financial stress.

In conjunction with YouGov, Isio surveyed 7,674 private sector employees in June 2023 on a range of issues surrounding employee benefits and personal finance concerns. Responses for don’t know or prefer not to say answers have been removed, unless explicitly shown.

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