Why the latest energy bill hikes are an HR issue

It’s been a tough few years for household finances, and things just got even tighter.

The new Ofgem energy price cap kicks in today, meaning the average UK household will be £149 worse off each year.

These increases eat into disposable income and directly impact your employees.

Our Nous research shows that three quarters of HR leaders say cost of living pressures have impacted workplace performance.

So, what can you do to help?

Recognise how these changes affect your team

Employees are feeling the pinch—and it’s not just energy bills. The cost of food and fuel have hit pockets, and painfully high interest rates  mean a huge number of UK households are forking out thousands of pounds more for their mortgage. 

To understand how this hits your people, just ask them. 

Run a pulse survey on cost-of-living concerns and tailor your support based on their responses. Acknowledging the issue and offering practical solutions shows you care.

Be flexible with pay

A competitive salary is important, but flexibility can go a long way. 

Pay models that allow access to earned income before payday provide financial breathing room. And expanding performance-based pay opportunities can help, as long as base pay is solid. No one should be relying on bonuses just to make ends meet.

‍Solve the problem at its source

Look beyond quick fixes. Tools like Nous can save employees hundreds (in some cases, thousands) by helping them lower household bills. 

Childcare support, subsidised travel, or season ticket loans can also ease financial stress where it matters most.

Make time for financial wellbeing during work hours

Don’t just offer financial wellbeing tools—make sure your team has time to use them. 

At Nous, we’ve found that simply offering a benefit isn’t enough. You need to ensure that employees have the time and space to actually engage and fully understand it. We set up dedicated sessions, blocking out time in employees’ calendars, making it easy for them to get onboarded – and the difference is chalk and cheese. We see a much higher adoption rate and more satisfied employees. 

Helping employees save money and reduce financial stress is more important than ever. 

The right steps now can not only help lift the pressure, they can boost morale, engagement, and productivity.