Companies and industries around the world are seeing more employees resigning from their jobs. This is an ongoing trend known in some circles as the “Great Resignation,” and it has put countless companies in jeopardy.

Unfortunately, it’s not difficult to see why employees are leaving their posts in droves. According to recent labor market data, employees today feel underpaid, are demotivated, and want better compensation packages. Unsurprisingly, the impact of the COVID-19 pandemic has also only served to exacerbate these issues –– not only because it worsened conditions and in many cases led to pay cuts, but also because it allowed employees to judge the responses their employers came up with in difficult times.

Simply put, failure to address your staff’s needs and acknowledge their contributions can push employees to seek greener pastures. For this reason, it’s important to be proactive in showing your employees that you care about them and have their best interests at heart. Here, we’ll discuss specifically how you can take better care of your staff.

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Set health and wellness programs in motion

Setting up a variety of health programs beyond the bare minimum is a surefire way to show employees you care. And what’s great about wellness programs in particular is that they are typically easy (and affordable) to integrate into existing company culture and policy. At the most basic level, a wellness policy can be as simple as prohibiting all work emails on weekends or after hours (which helps to create a healthier work-life balance). Another wellness program that you can easily implement is a weekly “field trip” where you and your staff can bond together and get some fresh air outside the office. Initiatives like these accomplish a primary goal of showing employees you care. But they will also boost staff health, satisfaction, and productivity over time.

Offer assistance with financial wellness

Financial stress impacts employees’ mental health severely, and by extension can negatively affect their productivity. For this simple reason, you should strive to assist them with financial wellness in whatever ways you can aside from simply offering more pay (which should also be on the table if and when it’s possible!).

Your financial wellness program should be designed to help employees achieve financial independence and stability. To set up such a program, you should first employ the services of a financial advisor who can assist employees directly and with specific issues. A financial advisor can also help employees to set up the types of future planning and investing mechanisms that will help them to feel more stable (and better taken care of) for the long term. For Canadians, this typically means planning for family education, establishing investment portfolios, and setting up retirement. On the education front, opening an RESP account gives employees access to a tax-advantage plan through which they can save for their children’s education (with supplemental matching from the government). Where personal financial planning is concerned, employees can be offered assistance, employees can be helped with setting up investment portfolios that will make them money over time. And retirement planning can work in a few different ways according to company policies –– but here too financial advisors can be of assistance helping employees to make sense of options and start saving.

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Allow for flexible working hours

As we briefly alluded to before with regard to after-hours emails, it’s important to recognize employees’ need to maintain their lives outside of work. By extension, it is also vital to understand that employees may have times at which it’s difficult to stick to set work schedules. This may be due to private life schedules, mental or physical health difficulties, family obligations, etc. –– but it’s not your job as an employer to litigate the reason. Rather, it’s your job to accommodate employees with flexible conditions, within reason. This is not only the right thing to do, but also the best way to maintain productivity and retain employees. Studies have repeatedly indicated that flexibility and work-life balance play key roles in driving employee satisfaction.

Of course, there’s no one-size-fits-all way to implement flexibility in all organizations. Rather, flexible work arrangements take a number of different forms — from compressed work weeks where employees have four 10-hour days, to flexplace arrangements allowing employees to work out of office. Figuring out what kind of flexible work program best suits your business can lead to healthier work-life balance, and ultimately boost employee happiness (and retention).

As a business leader, you should understand that your work is not limited to creating innovative ideas, managing the organization, and maintaining the bottom line. If you truly want your organization to thrive, taking care of the people who make up that organization should be a top priority as well.

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Suneha Dutta

Suneha is digital marketing expert, helping innovative companies learn more about Fundsquire's seamless, timely, and innovative funding solutions. She brings diverse experience in creating compelling narratives and content across industries and markets.