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Ant Donaldson: How can employers encourage staff to save money?

Employee Benefits

But if the cost-of-living crisis has brought any benefits, one of the main ones must be employers’ greater focus on employees’ financial wellbeing. Office for National Statistics’ figures show that real average UK earnings fell between 2019 and 2023 and survey after survey has shown the impact of financial pressures.

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8 Employee Incentives That Work: Best Practices from US MNCs

Empuls

While both companies offer competitive compensation, Google emphasizes creating an open and less politically driven culture, complemented by substantial perks like free food, snacks, and amenities such as pinball machines and bowling alleys. How do tech giants like Google and Microsoft use employee incentives? 

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How HR Can Help Employees Facing Financial Hardship?

Hppy

Such assistance might include food vouchers, transportation allowances, or help with housing costs. Encouraging employees to save and invest wisely can be part of a broader financial wellness program. Emergency Assistance Programs Incorporate emergency assistance programs into your HR strategy.

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Employee Benefit: A Strategic Investment for Attracting and Retaining Top Talent

Empuls

Here are some examples:  Wellness programs: Programs promoting physical and mental health can include gym memberships, healthy food options, on-site fitness classes, and mental health resources.  This allows them to focus on their work without worrying about childcare arrangements. 

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57 Stellar Ways to Reward Employees for Good Performance & Acknowledging Employee Dedication

Empuls

These cards can be for popular local restaurants, national chain eateries, or food delivery services like ubereats or doordash. Gourmet food and beverage gift cards Gift cards for gourmet food and beverage experiences can include vouchers for specialty coffee shops, high-end tea stores, artisanal bakeries, or gourmet food markets.

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Prioritize Financial Well-being in the Workplace

Empuls

Financial perks While they vary across employers ranging from a privilege to a monetary reward, financial incentives drive motivation, engagement, and good performance, improving productivity and morale across the organization. Q: How can employers evaluate the financial wellbeing of their staff?

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9 unusual incentives that will lift employee morale

Insperity

Maybe they’d prefer discounts on identity theft protection, onsite food trucks on Fridays, or a couple of small, phone-booth style rooms to make personal calls. If your business is a financial firm, you could offer one hour of complimentary financial counseling each year to every employee. The answers may surprise you.