In order to help their staff cope with the cost of living crisis, NHS trusts are providing hardship grants, low-cost meals, travel subsidies, and money for school uniforms, amongst other ways to offer aid as they view the financial support as a moral responsibility during these tough times.
This does not constitute advice and advice should be sought in all instances before acting on it.
The reality is that everything that’s happened within the last few years has led to economic hardship for many NHS staff members. Their real-term earnings have declined, not just due to sub-inflation salary raises, but years of pay freezes as well. As winter approaches, many people expect their troubles to worsen as households will need to pay more for gas and electricity.
The initiative is based on the belief that anyone can run into hard times and that you shouldn’t be afraid to ask for help when you need it. The fact that the NHS is facing the worst workforce crisis in history (according to a report by the Commons health and social care committee) also be a contributing factor.
After reports of doctors and nurses forgoing holiday leave to work extra shifts, trusts are doing their best to support staff amidst soaring inflation and economic pressure.
While some hospitals are focusing on hardship grants and food banks, others are offering salary advances to be used for fuel, food, or whatever they need it for. Free car parking is also available as well as increased mileage allowances for staff working out in the community. In a bid to help staff with young family members to take care of, other hospitals are reducing the cost of food in their canteens and making food available to staff’s children for a reduced price or providing funds for uniforms and equipment for the upcoming school year — anything to help lessen the burden on the NHS workforce.
Despite the importance of their profession and the work they do to help every day, NHS staff members including nurses, paramedics, and healthcare assistants haven’t been able to escape the financial struggles so many face.
If you’re concerned about your finances or simply want to ensure your plans won’t be disrupted by the current state of the economy, get in touch with your trusted financial advisor.