Ways You Can Support the Cost-of-Living Crisis for Employees

Ways You Can Support the Cost-of-Living Crisis for Employees | Future Force Personnel

Thanks to the pandemic and now record inflation, supply chain issues, and other economic challenges, people across the country are taking a hit. Right here in Florida, the cost of living continues to rise for everyday items, like groceries, utilities, home prices, and more.

If you’re an employer, there are some ways you can help your people navigate their way through these difficult times. Here are some tips for improving their well-being.

How Can You Support the Cost-of-Living Crisis for Employees?

Offer a wage increase.

Even if it’s small, every little bit counts. So if you’re in a position to increase wages, whether across the board or for those who have met milestones, then now’s the time. This will help to relieve some of the pressure your employees are facing so they can manage their everyday needs. This will also help to stabilize their at-home situation, so they can come to work, focus, and get the job done.

Provide financial education.

Besides increasing wages, there are other ways to offer support. For instance, provide free financial counseling to your employees to educate them on how to budget and manage their money. This will help them to create a plan so they know where their income is going, can cut out areas that aren’t necessary right now, and create more wiggle room – and room to breathe – from one month to the next. When your employees are financially literate and educated about money matters, it will help them save more and live with less stress.

Enhance your benefits options.

Another way to help your employees to manage through the cost-of-living crisis is to boost your benefits package. Offering additional perks, like flexible spending accounts, can help your people pay for child care, elder care, or other additional areas that your health insurance might not cover, like dental care. It’s just another way you can support your people during a difficult time.

Promote wellness.

Mental health and well-being has become top-of-mind during the pandemic. Now, as people try to return to normal living, you might have staff members struggling with issues, such as depression, panic attacks, and anxiety. Make sure they can access the resources they need to manage without their income taking a big hit. You can even offer related perks, like weekly yoga sessions, a discount for gym memberships, or other health and wellness-related benefits.

Need more manpower to get the work done?

If you’re dealing with a different crisis – due to a lack of hands-on deck – turn to Future Force, one of the top temp agencies in Orlando, FL. We’re here for you with the people you need, whether for one week, one month or on a full-time basis. Contact us today to learn more.

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