Four ways to support employee financial wellbeing during the coronavirus outbreak18.03.20
Chief Innovation Officer
As well as their physical wellbeing, employees are having to more seriously consider their financial wellbeing during this time of unprecedented uncertainty amidst the Covid-19 outbreak.
In a recent article for HR Zone, I offered some pointers for employers to consider when looking at supporting their employees’ finances. There are so many things to worry about right now, that it’s difficult to identify and assist with every financial circumstance, but in order for performance levels to be maintained, and for employee mental and physical wellbeing not to dip, our people need our support with their money, more than ever.
Firstly, we need to explain to them what benefits will help them the most right now, and what’s covered in the current situation, such as SSP and travel insurance.
Asking lenders for help
If employees rent, have a mortgage, or are particularly vulnerable, there are infrastructures in place to help. They just need to be brave enough to have the conversation, and employers can be responsible for letting them know this.
There is a lot of fear out there because the stock market has taken a hit. But it’s not the first time and it won’t be the last – one thing is for certain; panicking helps nothing!
Unfortunately, with difficult times come even more difficult people, and there are a lot of scammers out there taking advantage of people’s fear. Signposting people towards verified, useful education, and flagging the scammers will help mitigate this.
Ultimately, employers are in a real position of trust when it comes to their employees’ financial wellbeing. We can point them in the right direction, put their concerns at ease, and support them through this uncertainty to make sure our people are engaged, happy, and above all – healthy.
You can read the full article for HR Zone here.
Gethin is an award-winning psychologist who has been helping some of the world’s largest organisations to improve their employee experience and wellbeing for two decades. The last 10 years have been spent working as part of the senior leadership team here at Benefex where Gethin leads our thought leadership in the market.
As a frequent writer and speaker on employee experience and employee wellbeing, Gethin has been featured in Forbes, The Guardian, The Huffington Post and The Financial Times as well as all major HR, Reward and Pensions publications. Gethin has been listed as one of the world’s top 101 Global Employee Experience Influencers for the last two years running, is listed on the Employee Engagement Powerlist, is one of LinkedIn’s top global contributors and an Inspiring Leader 2021. Gethin is also a regular keynote speaker, Chair of the UK Government-backed Engage for Success Wellbeing Thought Action Group, a Key Stakeholder in UK Government Transport Employee Wellbeing KPI’s and a Fellow at the RSA.
In 2018, Gethin published his first book - the HR bestseller ‘A World of Good: Lessons From Around the World in Improving the Employee Experience’, which has gone on to inspire HR and Reward teams at some of the world’s best known brands. In 2022, Gethin co-authored his second book ‘Das Menschliche Büro - The Human(e) Office’ a collaboration between leading academics and workplace professionals from across Europe.