In October 2022, the CPI annual rate of inflation rose to 11.1%, the highest annual CPI inflation rate in the National Statistic series, which began in January 1997, resulting in severe on-going financial strain on many families. Recognising the impact the cost-of-living crisis is having on their staff, Vista’s executive board responded by gifting a one-off payment in order to support them through this ongoing crisis.
All staff members who qualified for the bonus were paid in the lead-up to Christmas and as a result 99% of Vista’s colleagues received the payment. The cost of living payment has been gifted alongside Vista’s highest ever base salary inflationary increase, which was awarded in September 2022.
A member of the finance team at Vista said, “I am very grateful to receive a cost-of-living payment from Vista and thought the timing was perfect as it came during the run-up to Christmas which definitely helped ease the burden of all the rising costs. In my family we used this payment to help us top up our oil tank which is used to heat our house. Like all energy prices, oil has substantially risen in price so the cost-of-living payment helped reduce the impact of those price increases and will help us heat our home over the winter months, which is something my family are very appreciative of as it took a lot of the stress out of planning for Christmas!”
Another Vista employee commented, “I am extremely grateful for the cost-of-living payment that was kindly gifted by Vista. I’m sure everybody who received it will agree that it was a huge help especially just before Christmas. Being a single parent in the current cost of living crisis is challenging but this additional payment helped pay household bills so that I could purchase extra Christmas gifts for my son – thank you Vista”.
Emily Rickus, Vista’s Finance Director, commented:
“Vista appreciates the current challenging high inflationary environment and the impact this has on our employees. During the budgetary process for this financial year, and despite the business being impacted by rising costs ourselves, we were very keen to ensure that we provided as much support as possible to our employees. This came by way of a cost-of-living bonus, payable to most of our workforce in November 2022, pre-Christmas. It is hoped that the cost-of-living bonus, alongside the highest ever base salary inflationary increase awarded in September 2022, will help our employees financially during this difficult time, as well as demonstrating our commitment to our people, and to show them how much their hard work is appreciated.