Nearly half (48 per cent) of UK employees want a monthly cost of living pay boost from their employer, a recent survey has revealed.

The global study by Randstad, which polled 2002 UK employees, found that over half (53 per cent) want their employer to increase their salaries outside of the regular schedule of pay reviews.

More than a quarter (28 per cent) said they want subsidies for daily expenses like the cost of energy or travel, while a further 28 per cent want a one-off cost of living payment.

The survey also found that businesses are beginning to help workers cope with the present economic climate, as just under a quarter (23 per cent) said their employers have offered them financial support in the form of a wage raise outside of an annual pay review.

Jonathan Boys, senior labour market economist at the CIPD, said the CIPD’s latest labour market outlook report corroborated the findings, as it found over a third of employers (36 per cent) planned to raise wages to alleviate the cost of living crisis.

“Even as inflation goes down, prices will still be going up, and people’s real spending power will decline,” said Boys, adding that things are likely to get worse as we are “essentially only at the foothills of the cost of living crisis”.

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However, Randstad data found that just under two-fifths (37 per cent) of UK employees...

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