How to support your employees during financial hardship

Amy Schultz
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Money and your culture

Money is usually an uncomfortable topic to talk about in general, let alone at work. But it doesn’t have to be. Employers are in a position to build a culture of acceptance around money.

The pandemic has left many employees financially distressed, so now is the time to bring financial education into your workplace.

Here are few ways to support your people’s financial health:

  • Explain your benefits package in detail. A lot of employees don’t know their benefits options and/or don't take advantage of them. 
  • Have employees take a financial health quiz to gauge how everyone is doing and tweak your plan according to what your people need.  
  • Offer financial counseling or resources. Life happens. Maybe it’s medical bills or debt that’s stacked too high. Regardless, if employees know they can explain their situation, ask for support and patience, and possibly even cash, it’ll make a world of difference.
  • Personalize the financial resources you give your people. Women, LGBTQ+, racial and ethnic minorities, and employees at certain income levels will all have different needs. 
  • Bring in a financial expert once a month to talk about topics like investing, student loan repayment options, and mortgages.
  • Consider incorporating a money coaching program into your workplace to help employees manage both their finances and their feelings around money. 

Supporting your employees financially requires a plan. But prioritizing the financial health of your people won’t just make them happier and healthier, it will kickstart the productivity and growth of your company too.

Give your team a culture of care.

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