HR teams have spent the better part of this year trying to navigate how to make the workplace the best experience possible for employees.
Now, HR professionals are identifying what benefits can make a meaningful impact on workers.
While companies have had to shift priorities, so have employees. According to new research from John Hancock Retirement, employee financial stress has doubled since the beginning of the pandemic and is having a poor impact on how well they perform their jobs.
Additionally, BrightPlan conducted a survey of 350 HR leaders and employees and found that the perception of finances among knowledge workers has worsened, with 48% stating they are stressed about their personal finances.
It is clear that finances are a top priority among employees at the moment. That is why HR teams need to make a more of an effort to nurture the needs of workers, particularly those who may be financially struggling.
Companies have also realized the importance of supporting employees’ wellbeing. According to the Bank of America’s 2020 Workplace Benefits Report, 62% of employers “feel extreme responsibility for their employees’ financial wellness.”
HR teams are now looking for new ways to repurpose their budgets in order to better invest into wellness programs.
Simply checking in with employees and ensuring that they stay engaged will be crucial to a healthy workforce moving forward. This can be done by using engagement surveys in order to see how workers are doing, and understand what type of support they need from their employer.