Four ways to support employee financial wellbeing during the coronavirus outbreak18.03.20
Director of Employee Wellbeing
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 a psychology graduate who has been helping some of the world’s largest organisations to improve their employee experience and wellbeing for almost two decades. The last 9 years have been spent working as part of the senior leadership team here at Benefex. As a frequent writer and keynote speaker on employee experience and employee wellbeing, Gethin has been featured in The Guardian, The Huffington Post and The Financial Times as well as major HR, Reward and Pensions publications. Gethin is also a founding member of the Engage for Success Wellbeing Thought Action Group, is listed on the Employee Engagement Powerlist and is one of the world’s Top 1010 Employee Engagement Influencers.
In 2018, Gethin published his first book – the award winning 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.