The rising cost of living has been a recurring theme making headlines around the world. The annual inflation rate in the United States topped 7.1 percent for the 12 months ending November 2022 and reached 10.7 percent in the United Kingdom during the same time period. Although the most optimistic analysts suggest that inflation will subside in 2023, companies have had to pivot from handling one crisis (Covid-19) to another in an incredibly short amount of time.
What are the implications of the rising cost of living on employers' reward and benefits programs, and what practical measures can be taken to address this trend?
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