Ways to Help Employees During a Recession
How to Give Staff Members Low Cost Assistance in a Tough Economy
Christmas bonuses. For many small business owners, a little extra in the paycheck each year is a way to tell employees that they are appreciated and help staff members on a tight budget ease their financial strain a bit. No one wants to cut back on perks like this, but, in a recession, cutting every extra expense is the only way many small companies can survive. However, while it makes sense to cut things that are actually eating away at the meager profits of a business, employees are struggling, too. The solution is to find ways to give employees a helping hand without spending money that the company can't afford to lose.
Consider Allowing Salaried Staff Members to Telecommute
If the office can survive for a day without a reliable, hard working staff member, ask that person if he or she would like to try working from home for one day a week on a trial basis. This perk is especially valuable for an employee with a long commute and an aging vehicle. Stress that tasks must be completed, just as if the staff member was in the office and that he or she must be available during work hours in case questions arise. Make sure the employee knows that using the day to goof off will result in a loss of telecommuting privileges.
If the staff member is a receptionist or other front line office staffer, don't automatically write this perk off as impossible. If the rest of the staff is willing to pitch in for an hour or two during the day, telecommuting is still doable and he or she will most likely be able to get so many of the extra little projects that pile up completed without the constant interruption of phone calls, that the extra work for the rest of the staff once a week will be worth it.
Offer Money Incentives for Carpoolers
For a company that pays mileage, money incentives equal to the amount of the savings realized by carpooling employees may be a good idea. If two employees live near each other and have been driving in separately, talk to the company lawyer and accountant about the feasibility of offering both employees a small gift card or bonus check each month if they will carpool.
Companies that do not offer mileage can still offer incentives to employees who carpool by encouraging them to sign up for a carpooling program like NuRide, which is a free reward service for carpoolers. Currently, NuRide is accepting carpoolers in the Connecticut, Hampton Roads, VA, Houston, TX, St. Paul, MN, New York metro, San Antonio, TX and Washington metro areas.
Talk to Insurance Representatives
Big businesses routinely talk to insurance companies, car rental companies and even local gyms about providing discounts for employees. There is no reason that a small business can't do the same. Ask the rep the business uses for its insurance needs about discounted life insurance, house insurance, or other policies the business doesn't give employees. The insurance company may be able to provide at least a small discount on employee policies.
Of course, not all of these ideas will work for every business. However, there is one thing that every small business owner can do to help employees during a bad economy and that is to do his or her best to provide them with a steady job and reliable employment. If they have to choose between a paycheck and a perk, almost all employees will take the check.
In A Recession, Employers Need to Watch Every Cent
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