Are you like many other businesses struggling with how to support your employees with the cost of living crisis? Then please read our top 10 tips on how you can help and support them through this difficult time.
1. Flexible Working.
Ensure employees have the option to work flexibly. This can reduce personal and financial pressure.
2. Consider Employee Benefits & Discount Schemes.
Join an employee benefit scheme where employees can receive discounts on food shopping and other brands along with wellbeing advice.
3. Offer Financial Coaching & Planning.
Financial coaching can help many employees uncover areas for improvement and stop the need for additional funds. Providing advice and guidance around budgeting could be really powerful.
4. Mental Health Toolkit.
Put together a mental health tool kit which includes contact information should your employees need to speak to anyone. You can also visit https://www.mentalhealthatwork.org.uk/toolkit/ which gives lots of advice and tips.
5. Provide Bike Storage & Charging Points For Electric Cars.
There are lots of people trying to cut costs by ditching the cost of fuel. Providing a secure space can enable your employees to make the switch more comfortably.
6. Offer Free Lunch Or Snacks.
Let’s face it, we’re all guilty of getting a cheeky takeaway at lunch time with our colleagues or nipping to the shop for some goodies, then we look at our bank at the end of the month and think… how have I spent £200 on my lunch hours! Providing free lunch such as bread for the toaster, sandwich fillings etc can be a great way to supress costs for your employees.
7. Child Care Benefits.
Many families have both parents working full time, which means unless you have a great support system, you may need to use expensive childcare options. Childcare benefits can include nursery vouchers, flexible schedules or even onsite childcare.
8. Experience Bonus.
Treat your employees to an experience that encourages them to get out of the house at no cost like a Coffee shop voucher, or an entrance to a local visitor attraction.
At times like this it’s especially crucial your team understand what’s on offer from the company and how to access it.
10. Be A Great Manager.
Being a great manager is key to your employees. If they have a safe environment and an ear to listen, that can make all the difference.
The moral of the blog is, there are many ways you can help your employees with the cost of living crisis other than putting staff salaries up. If you would like anymore advice or help with implementing any of the above points, please don’t hesitate to contact us. Realise HR would love to help you create a happy workplace at such a difficult time. If you found this article helpful, check out our other useful articles on our website