Working Lives Report 2023

The pandemic fundamentally changed how businesses across the nation operate, and now, options for flexible working and regular or occasional working from home are commonplace. This appears to be an evolving landscape for many employers as they continue to adjust working patterns to meet the needs of the business and motivate their people.

The end of lockdown restrictions was a welcome relief for many businesses desperate to return to normality. However, it was not long before the UK experienced record levels of inflation. Employers and employees today are clearly focused on the issue with many people more anxious about their finances. Financial education is key to supporting employees at this uncertain time. Employers have an important role to play in creating a culture which encourages their people to talk about their money worries and supports their general wellbeing. Offering financial seminars, giving access to Employee Assistance Programmes (EAPs), and providing crucial support for retirement planning are all important.

The world of work has made great strides in breaking down barriers and supporting a diverse and inclusive workforce. Over the last year, there has been a renewed focus on the importance of retaining valuable and experienced over 50s workers. Aviva has long supported an inclusive workforce and now the government has announced its intention to help those aged 50 and over re-join the jobs market, with official statistics suggesting the pandemic contributed to a reduction of older workers in employment.

Employers report being marginally less positive than this time last year, yet there is still an overwhelming sense of optimism. It is important that employers harness that positivity and use it to support their employees with financial education and wellbeing policies which recognise individual needs at this economically challenging point in time.