How to support your workers manage pressures related to rising living costs

Aug 16, 2022

How to support your workers manage pressures related to rising living costs

The cost of energy, fuel, groceries and other everyday essentials have soared along with interest rates.
Not only are Australian workers feeling more financial pressure than ever before, it is also causing emotional stress.
As employers, there are some ways to lessen the impact of the rising cost of living for your workers.
Below are our tips on how you can do so.

Offer benefits to help workers save

To help workers save more of their disposable income, an increasing number of workplaces are introducing benefits, such as:
- Discounted Gift Cards on fuel and groceries - Savings on dining, travel and entertainment - Exclusive discounts and offers with local businesses and partner brands
Small but frequent savings over time will add up quickly, which your workers will appreciate.

Provide resources to manage stress

It’s important for workplaces to help their workers manage stress levels so that they can remain productive and engaged at work.
Now more than ever before, workplaces often provide a wide range of health and wellbeing resources, including:
- Articles on health and wellbeing - Health and fitness videos - Nutritious recipes
Moreover, providing workers with the right resources to manage their stress levels can help reduce staff absenteeism.

Reward workers for going above-and-beyond

Staff shortages have been a common challenge for many workplaces throughout the pandemic.
As a result, many workers have gone above-and-beyond just to keep businesses operating.
Rewarding workers with special perks and privileges who go above-and-beyond is a good way to acknowledge their efforts while helping them battle the rise in the cost of living. Perks and privileges may include:
- Gift Cards with leading retailers to help workers save even further - Cinema vouchers - Additional time off work (when appropriate)

Help your workers get to the other side

Workplaces that support their workers are more likely to reap the rewards with higher productivity and engagement and lower turnover.
If your workplace needs help with implementing any of these ideas, then EonX can help. Contact us to chat with an expert.

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