Who’s going to pay for the energy price hike?

Who’s going to pay for the energy price hike?

Bosses at a string of smaller businesses are pre-empting the impact of the new energy price cap and the doubling of household energy bills.

That Recruitment Company in Birmingham, for example, have been given a permanent 5% pay increase so that the team don’t feel the pain of energy costs. RSL Renewables in South Shields have followed suit. Staff at Firefish Software in Glasgow have been given a £600 pay rise, while London PR firm Comms Co has given everyone a £700 pay rise.

Posting they care

The action by employers has been a great way to signal to staff — as well as the wider world — that they’re thinking about their people and the hard realities of the 2020s. News of the pay increases has been buzzing with shares and likes on social media.

Chris Stringer, Chief Executive at That Recruitment Company, said: “The energy increase is concerning. Everybody is struggling now. I don’t think you should work just to pay the bills. Life is hard. Anyway, it’s only 14 staff not like 250,000.”

Wider wellbeing

“Quick pay rises to cover the huge increases in energy bills will really be a weight off the minds of staff,” says EAPA UK chair Eugene Farrell. “But that’s obviously only going to be for the very few. Big employers — who will have their own bigger energy costs to pay as a business — just can’t do it.

“We all know that bills will be doubling or maybe even more, but it will take some time for the real impact on budgets and lifestyles and relationships are known. HR need to make sure that their people are actively thinking about what it means for them. Anticipating problems and planning for ways to cope. EAPs are here and easily accessible to make sure those conversations can happen early.”

Who’s going to pay for the energy price hike? EAPA UK