In the face of ongoing financial pressures, UK employees are increasingly seeking assistance from their employers to manage daily expenses.
- A significant 54% rise in employer-provided supermarket voucher use was recorded between June 2023 and June 2024.
- Employees are heavily relying on vouchers to alleviate the high costs of groceries amid the enduring cost-of-living crisis.
- Supermarket redemption data reflects substantial increases: 69% for Asda, 45% for Tesco, and 33% for Morrisons.
- Despite reduced inflation headlines, essential goods prices remain steep, demanding ongoing employer intervention.
In an era where financial pressures persist, UK employees have turned more towards their employers for support in managing daily costs. A recent analysis has revealed a substantial 54% increase in the use of employer-provided supermarket vouchers by employees between June 2023 and June 2024.
This trend is a direct response to the continuous cost-of-living crisis, which has seen staff look for ways to make their grocery shopping more affordable. The data, drawn from over 80,000 UK users of the Perkbox platform, highlights a notable reliance on these vouchers as employees navigate rising expenses.
Comparative data from three of the UK’s major supermarkets indicates a significant increase in voucher usage: Asda witnessed a 69% increase in redemptions, Tesco noted a 45% rise, and Morrisons saw a 33% upturn. These percentages point to the growing financial stress faced by employees as they seek employer assistance.
While the UK’s headline inflation rate has seen a decline, the Office for National Statistics reports that food prices have surged by 25% over the past two years, starkly contrasting the 9% rise over the previous decade. This price escalation underscores the need for employers to provide continuous support to help workers endure the financial strain.
Doug Butler, CEO of the Perkbox Vivup Group, remarked on the situation: “Despite fewer recent headlines, the continuing high cost-of-living continues to be a challenge for employees. Our data is a reminder that offering support through additional rewards and benefits to workers should remain a priority for employers.”
As daily costs remain high, employer support is crucial in easing financial pressures on UK workers.
