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Pandemic impacts employees’ property and finance priorities – Close Brothers

  • 09/06/2021
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Pandemic impacts employees’ property and finance priorities – Close Brothers
A fifth of UK employees have considered moving home as a result of the pandemic, new research on post-pandemic financial trends commissioned by Close Brothers found.


The survey of 2,000 employees working for companies with at least 200 people on staff, conducted by Opinium from 22 to 28 January, discovered that 21 per cent of employees “had been spurred to move house to secure a better quality of life for themselves and their family”.

Meanwhile, 13 per cent wanted to move closer to parents so that they could help to provide support.

The survey also suggested big upheavals in working practices will continue, with 40 per cent of employees “likely to move to be working remotely full-time,” and 30 per cent doing so part-time.

The pandemic impacted employees’ personal finances in other ways too.

Levels of financial confidence have increased for 32 per cent since before the pandemic, and decreased for 14 per cent.

“It is not unreasonable to think employees have taken on board lessons of the past 12 months and are putting them into action,” the report said.

Meanwhile, the crisis promoted nine per cent of employees to take early retirement, and 13 per cent to delay it.

In terms of financial planning, 41 per cent of those surveyed said their expectation of needing an emergency pot has increased since the pandemic.

Further,  37 per cent had a life insurance policy, 20 per cent owned health insurance, 16 per cent critical illness cover, and six per cent income protection.

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