As we finally start seeing real light at the end of the Covid-19 tunnel with the country opening up into summer, show hosts Dan Mikulskis and Mary Spencer sit down to LCP's Heidi Allan who has done a huge amount of research to understand the impact of Covid-19 on people's finances and overall wellbeing with some surprising conclusions.
We discuss
- Regional differences: one in three Londoners have seen a drop in income exacerbated by the high cost of living;
- 6 million accidental savers are now better off (but where are they going to put the money?);
- Overall reporting stress levels are not actually higher than a year ago, but there is a complete change in what’s driving it. Commuting and work/life-balance is out, family wellbeing and health is in;
- Work satisfaction: a surprisingly high proportion of employees are reporting high dissatisfaction with their employer. Could this trigger a big job turnover once things settle down?; and
- There is thinking to be done by employers on what they offer employees and how they communicate. Things like flexible working have never been more important.
Recommendations
- LCP Employee wellbeing and financial health report (2021)
- City AM: one in three Londoners suffers income fall
- The BBC: accidental savers
- Highlights from our Financial Wellbeing 2021 survey
