We need to start with some real talk… The cost-of-living crisis will impact business. Inflation isn’t just hitting people on the street. We must be cognoscente of the fact as inflations increases people will spend less, and as result brands may suffer in the short-term.
And whilst we all can wax lyrical about the dangers of cutting marketing investment, we all know it will happen. This will mean businesses will be under more pressure, it’ll harder to get new starters signed off and, in some instances, businesses may be forced into making bloody horrible decisions. Therefore, we must be realistic.
But we are also very lucky in our industry. As you progress you earn a decent salary and we get some pretty nice extras. My boyfriend works in the NHS and it blows his mind that we not only get lunch out, but that we don’t have to contribute a tenner a month to the teabag fund. But the gap between the most junior and senior workforce is staggering. The cost-of-living challenges are going to impact younger, and more junior staff more, especially junior staff who don’t have the luxury of financial support from their parents. Those from working class backgrounds will be hit hardest. Research shows that those from working-class households are currently seeing inflation at 10.9% v 10% average, those from the most well-off households are facing 7%.
So what can we do.
It needs to be said, that these solutions are not cost of living solutions. They’re not just the right thing to do but things that remove the economic barriers of those from working-class backgrounds. When we have class diversity it’s proven we create better work, and therefore generate more income. Something even more important now. Not doing these things now will impact our work for years to come.
But what else can we do, the below ideas have been directly sourced from the Common People Brain hive. Feel free to rip off.
And if you are extra lucky and aren’t feeling the pinch, consider donating to funds that help working-class talent in the creative industries. I hear there’s a great one called Common People. They have merch, so as well as feeling generous you get to look like a cool commoner too. And if you are from a working-class background and need support, the Common People squad are always here.Find out more about Common People
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