Money Worries are Affecting Millions
Millions of workers’ mental and physical health are being affected by money worries. This, in turn, is having a bad effect on performance. These are the findings of a report published by the CIPD and Close Brothers Asset Management.
Millions of workers mental and physical health are being affected by money worries. This is then having a negative effect on performance. These are the findings of a report published by the CIPD and Close Brothers Asset Management.
The report focused on a sample of 1,817 working adults. It found that a quarter of those feel they’re greatly affected due to money worries playing on their minds. Therefore affecting their health. Although this is incredibly worrying, it can be difficult for employers to help their staff. Especially with rising inflation halting any potential wage increases.
“It’s been widely reported across the past year that inflation and economic uncertainty has impacted both employees and employers. The economy is holding steady right now. However, these price hikes we’re seeing could have a negative effect over the coming years. Thus, would trickle down to employees. It’s more important now than ever for businesses to be at the top of their game. This is to ensure they can compete. Unfortunately, this news is highlighting just the opposite. With this in mind, it is down to the employers themselves to find alternate ways to ease money worries for employees. This will make sure they’re focussed and performing well, in a financially-sensible way. Sallary sacrifice is one of the best ways to do this.”
Andrew Leech, Managing Director of Fleet Evolution
Salary Sacrifice Car Schemes Ease Money Worries
And for good reason! Fleet Evolution is one of the UK’s leading providers of salary sacrifice schemes to small and medium-sized businesses. We’re underlining the need for companies to do more to help their employees where it matters – in their pockets.
They bring a lot of benefits to those who undertake them. Because of this, employers aren’t losing out in monetary terms. Also, employees are being given a new, eco-friendly, low-cost vehicle – without impacting their income! Furthermore, even after the rules on salary sacrifice changed, car schemes continue to offer great value. They allow some of the greenest cars on the roads to be even cheaper. Surely this can only be seen as good news, especially since petrol prices continue to rise.
“The way these schemes work is incredibly simple,” added Andrew. “For the employee, income is usually not affected – and if it is, it is usually a small amount – because it is taken out of gross salary, not net. Employers also benefit as they are normally low-cost or cost-free for to introduce.”
We take a different approach to salary sacrifice schemes. Through working with small and medium-sized companies. Because of this, our aim is to provide a personal touch. This is to ensure each business picks the right option for them and their staff, both now and in the future.
Tags : Benefits, Company Car, electric cars, Employee Benefits, Fleet Evolution, Salary Sacrifice Car