The company said rising prices and the tightening of credit can take their toll on employees as they struggle to meet mortgage costs and pay energy bills.
Dampened enthusiasm among staff at work can lead to lower production levels, which will have a negative impact on the company’s bottom line, it suggested.
"It is vital that you put steps in place to keep your team motivated if your business is to survive during this period of instability," said Pareto Law’s joint managing director Jonathan Fitchew.
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He advised employers to offer social activities for staff to boost their spirits and help them relax.
Examples of this might include a ten minute Tai Chi session each day to help relieve stress or weekly competitions offering small rewards for the best performing workers.
According to Bupa, giving employees time off to volunteer at local charities can help to motivate staff and build team spirit.
