Employers should help ease the rising cost of living

Recent research from Ello Group has revealed over half (51%) of employees believe their employer should offset some of the rising cost of living.

The data, which was uncovered as part of a 1,000 employee survey, revealed many would relish the opportunity to make savings on their frequent hot drink purchases during their commutes, with almost two-fifths (39%) agreeing they would save a substantial amount of money if their employer offered an employee benefits package that provided discounts at coffee shops – a striking statistic as the cost of living crisis continues across the UK.

Recent Ello Group data also revealed commuters are spending an average of around £700 a year on hot drinks, which is expected to rise given market data has confirmed the average price of hot coffee has risen 3.5% in recent months[i]; while almost half (46%) are visiting coffee shops two to four times every week. More than a third (36%) of employees spend money on coffee during their working day with over two-fifths (43%) admitting coffee improves their productivity.

More than half (52%) of employees would also feel more valued by their employer if they offered generous employee benefits packages, with 47% agreeing that the rising cost of living has resulted in employee benefits packages being more important to them.

The research also signalled employee perks that help offset some of the rising cost of living could be the key to attracting and retaining talent amidst the ‘great resignation,’ uncovering:

  • Almost two in five (39%) agree employee perks would be an important factor when deciding on a new job or to switch companies
  • Over half (54%) confirm employee benefits packages that include discounts on items they frequently purchase are appealing when deciding to take a new job
  • Almost half (48%) think it’s important for employers to offer substantial employee benefits packages to stand out from the crowd in the current competitive market for talent
  • Almost one in five (18%) say employee perks are currently more important to them than salary
  • Over a quarter (28%) say employee perks are more important to them than other deciding factors such as company culture
  • Almost a third (31%) would consider leaving their current job if a new employer could offer them discounts on items such as free or discounted food/drink
  • More than half (51%) believe companies that offer perks care more about their employees than those who don’t
  • 50% wish the company they work for offered a generous employee benefits package such as discounts on items they regularly buy; while 39% admit their current employer doesn’t offer discounts on items they regularly purchase
  • Half (50%) would be happier to work in the office/their place of work if their employer offered them perks such as discounted or free food and drink

The research coincides with the launch of Ello Group’s brand-new Coffee Club, designed to reward coffee and hot drink lovers across the nation with discounts at some of the UK’s most popular coffee shops.

Coffee Club has already had the backing of a number of high-street favourites, including Caffè Nero and chains such as Black Sheep Coffee, Kaspa’s Desserts and FCB Coffee. There are also 1,600 independents involved, making it the largest coffee club in the UK, which organisations are now able to include in their benefits packages to make commuting that little bit easier on their employees.

Michael Kalli, managing director of Ello, commented: “It is hard to deny we are a nation of hot drink lovers – myself included! Combining this with the difficult few months we have all faced with the rising cost of living, we are excited to be working with organisations to give something back to their employees by alleviating some of their commuter costs.

“In addition to the cost of living crisis currently sweeping the nation, organisations are struggling to attract and retain talent with many turning to perks that stand out from the crowd and ultimately appeal to prospective new employees.”

In recent months, the UK has reported record high job vacancies. In the three months to April 2022, almost 1.3 million job vacancies were available across the UK, which was around 630,000 higher in comparison to the same period of 2021.[ii]

“We have already worked with some of the top employers across the UK to create bespoke employee benefits packages, so we know what it takes to provide a best-in-class reward programme that ultimately appeals to talent. We can’t wait to continue growing Coffee Club and help employers offer something a little bit different within their perks packages,” concluded Michael. To find out more about coffee club visit: https://www.ellogroup.co.uk/coffee-club-press

[i] https://www.mca-insight.com/analysis-and-insight/average-price-of-hot-coffee-increases-by-35/669007.article

[ii] https://www.statista.com/statistics/283771/monthly-job-vacancies-in-the-united-kingdom-uk/

Author: Editorial Team

Share This Post On