Many people across the United States, as well as in the majority of other countries, are struggling to adapt to the rising cost of living prices and are having to make cutbacks in all areas of their lives.
As a responsible employer, there are many small changes you can make within your company to try and help your staff adjust to this more expensive daily life, and here are some of the most prevalent and useful.
Be More Flexible with Working Hours
One of the major and most effective and, indeed, much-appreciated ways of ensuring that your employees are not struggling to the point of letting it affect their mental health and well-being is to introduce more flexible work hours, where appropriate.
For example, perhaps on one day of the week, if an individual’s children finish school an hour before they finish work and they have to pay for childcare, why not see if they want to start work two hours earlier and leave two hours earlier.
This could be a simple change that will make little to no difference to yourself or your company but could mean the world of difference to your employees.
Implement Remote Working Options
Following on from the notion of being overtly more flexible regarding the hours worked each day is the option of implementing hybrid or remote working opportunities for those employees whose job roles they suit.
The major benefits for your employees, should you offer them hybrid working opportunities, include:
- A much-improved work-to-life balance
- Reduced costs in commuting expenses and car fuel
- Less pressure to continuously update their working wardrobe
- A feeling of trust from their employer
Additionally, there are numerous benefits to be had by the company itself if hybrid workers become a thing of the norm, including:
- An impressive reduction in core operational and running costs of the business
- A higher level of motivation and productivity from your employees
- Increased employee productivity when working from home
- Gives you access to a far larger pool of talent
Allow Unused Holiday Days to be Swapped for Payment
Although a relatively new and unusual service that employers are beginning to provide for their valued team members, if you are serious about wanting to assist and show your support to your staff, there is another option.
Some companies have started offering to ‘buy back’ any allocated holiday days that staff members do not use within the financial year and provide a pay-as-you-earn payment in the following month’s salary.
Improve Your Healthcare Solutions
Another exceedingly helpful change to how you provide for and offer support to your employees is to switch healthcare providers for a more comprehensive plan.
Medicare funds for groceries, toiletries, and other essentials are an excellent option and will not only ensure that should an individual employee fall ill, they will be financially supported but will also take the worry and stress out of the situation and support their mental health too.