Helping your employees during uncertain times 

We are living through uncertain times and as inflation continues to rise, people are starting to think differently about where they are spending their money. Ready for some startling statistics? 

  • 86% of adults say they are concerned about day-to-day living costs. 
  • 46% of people have stopped or reduced the amount they eat out. 
  • 33% of people think businesses are responsible for tackling these issues.

(PwC, 2022) 

This means a third of your employees believe you have a duty to help them during this economic downturn. On the other hand, 83% of employees rank wellbeing as just as important as salary.  

So, what does this mean for businesses like yours? 

In this blog, we’ll shine a light on how you can help your employees during trying times and how you can help them make their wages go further. 

Put employee mental health first 

As we spiral deeper into the economic downturn, the worry of increased bills and unexpected costs can have a disastrous impact on the mental health of your employees. 

This means it’s imperative you have a plan in place to deal with any issues that may arise. It’s also worth knowing how to spot signs of depression and anxiety, whilst offering services such as counselling and therapy. This can be a real bonus for your team and shows that you’re an employer who cares about their employees. 

Another way you can boost employee wellbeing is encouraging them to speak about how they feel with one another. 

We get it. Sometimes it’s easier not to talk about how we feel with one another but creating a workplace built on the understanding that you can actively talk about your feelings isn’t a sign of weakness.  

It’s a part of taking charge of their wellbeing and doing what they can do to stay healthy.  

Top tip: – Introduce a weekly coffee rota in your workplace which places employees in pairs and gives them an opportunity to get to know one another and talk about how they are feeling. 

Flexible working is here to stay 

If you haven’t introduced flexible working into your workplace or have backtracked since the pandemic, maybe it’s time you had a rethink?  

When your business embraces flexible working, you can improve career progression options and help reduce travel costs by allowing your team to work from home. At Tercus HR, we’re advocates for promoting flexible working which is why we’ve introduced a Nomad Policy. Our Nomad Policy is the next step up from flexible working and aims to give your people greater control of what they do, what they can achieve, and where they are able to do it. 

It’s been shown that being able to work from anywhere gives your employees: 

  • more flexibility 
  • more productivity 
  • more contentment 

Employees have shown they are capable to perform in various environments, not just at the office. 

Learn more about our Nomad Policy here

Employee benefits and discounts scheme  

One of the best ways you can help your employees is through a rigorous benefits programme. Giving employees access to range of desirable benefits can help them make BIG financial savings. A benefits package can include perks such as: 

  • Dental cover  
  • Occupational sick pay 
  • Free flu vaccinations 
  • In-house training programmes  
  • Gym discounts 
  • Loaded gift cards for retailers 

Our top tip: – Open the floor to conversation with your employees and ask them what they think could truly benefit them. 

More than just a wage… 

Helping your employees should always go beyond just providing them with a wage. By creating an environment that puts mental health first, encourages flexible working, and has a rigorous employee benefits programme in place, you are creating a more desirable place to work. 

At Tercus HR, we take the pain of scrolling the internet for the latest employee benefits and have created a guide that we can help readily implement in your workplace. If you’re ready to boost your employee benefits programme, call us at 0330 555 1139 or get in touch with us here