The recent increase in Australia’s Wage Price Index provides some relief for employees, but many still feel the financial strain due to high inflation and interest rates.
The Australian Bureau of Statistics (ABS) announced an increase in the Wage Price Index (WPI), and it is impacting businesses in unexpected ways.
In response to these challenges, employers are exploring alternative ways to support their staff beyond salary adjustments.
One notable trend is the significant shift towards integrating non-monetary benefits into remuneration packages.
For instance, an increasing number of companies are providing grocery vouchers as a part of their employee benefits.
This development comes at a critical time, as many Australians grapple with the ongoing cost of living crisis heightened by high inflation and rising interest rates.
Kylie Green, Managing Director – APAC of Reward Gateway, joins to share her full insights on this development. #featured
