How Businesses Can Help Employees Feel More Secure During The Cost Of Living Crisis
Many employees feel more than a little insecure in light of the cost of living crisis.
In fact, we all are. So, how can businesses help employees feel more secure during this hard time?
Employee benefits and perks do a lot to help make employees feel more valued and appreciated and are now an important deciding factor for people when choosing a role. As a result, many companies put significant amounts of effort into creating partnerships, offering benefits and corporate memberships to various perks programs.
A recent survey found that 49% of employees are likely to seek new opportunities in a year because of confusion or dissatisfaction about benefit schemes.
When done right, and communicated effectively, a quality benefits program can have a huge impact as shown by the same piece of research, which found that 78% of employees would stay with a company because they like the benefits, and 51% said benefits play a significant role in talent retention.
It is advisable to target a benefits package to help ease the cost of living fear for staff by:
- providing help with childcare costs, ensuring that the parents in a company have a load off their minds with affordable childcare
- securing promotional deals and offers for essential items
- helping with travel costs
- providing free lunches
These are just some ideas of how to tailor a benefits package to help with the cost of living.
In addition to offering benefits that staff really want, are employers doing enough to promote the benefits they already spend time, money, and resources on? A 2022 study by The Hartford found that 70% of employers believe they don’t – and their employees underutilize the services, benefits, and programs they make available.
Here is where The Bot Platform is beneficial. By using bots and digital assistants, it is possible to build a Perks Portal that is easy to use, and integrated with the channels that the staff already use. Also, it is available 24/7 and ensures the benefits offered are actually used and appreciated.
