Employees are preparing themselves for the reality of an impending recession, on top of inflation that’s driving prices so high that paychecks can feel like they’ve been cut in half. To help, proactive employees are stepping in with inflation bonuses.
These bonuses, intended to offer employees some relief from the rising cost of goods, can vary from temporarily increasing employees’ compensation — Lowe’s recently pledged $55 million in paycheck bonuses to hourly workers — to smaller contributions like issuing gift cards to help workers cover expenses like grocery or gas, prices for which has soared as inflation hovers at 8.2% as of September.
