Employees are seeing the handwriting on the wall: They’re not expecting year-end bonuses this year or big raises for 2010. Yes, many will be grateful just to keep their jobs; they may even accept do-or-die wage cuts (something once unheard of) without too much fuss.
Still, don’t expect them to be happy about it. Morale and productivity are likely to take a tumble. If this happens, no one wins, and those extreme steps you may be forced to keep your company afloat could come back to bite you in the butt.
That’s why a growing number of employers are helping their employees get through these challenging times. They’re turning to less expensive benefits and morale boosters, everything from half-day Fridays (alternating between with pay and without, so everybody shares the pain) to reducing the workweek to four days while keeping hours the same. Example: Employees can work four ten-hour days instead of five eight-hour days. This also can reduce some of your overhead costs such as utilities.
They are also helping them manage their money better.
One of the things I do at my mini-workshops is explain to attendees how easy it is to “leak” money from their financial buckets, and how they can fix the problem … immediately and painlessly. (For example, if a husband and wife can find a way to reduce their expenses by just $2 each every day, they will have plugged a $1,460 leak each year in their financial bucket!)
These are just some ways employers can help their employees better manage their money and, as a result, better cope with the financial pressures we are all enduring these days.
Need help helping your employees? Let me know. We can customize workshops for your company and create a win-win environment at your business. Contact me at firstname.lastname@example.org. There is no cost or obligation.
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