Log in
Book a Demo

5 Surprising Symptoms of Financial Stress (And 5 Helpful Solutions) Read it here.

Book a Demo
5 Ways to Help Employees Reacclimate to the Office

5 Ways to Help Employees Reacclimate to the Office

by | Aug 3, 2021 | Blog

5 ways to help employees reacclimate to the office. The COVID-19 pandemic saw millions begin working remotely and many employees are stressed about returning to the office. What can employers do to help?

After months of fine tuning their return-to-work strategies, many organizations are finally making the move back to in-person offices. However, not all employees are happy about it. A May 2021 survey of 1,000 adults found that 39% would consider quitting their jobs if employers weren’t flexible about remote options.

Teams might benefit from working in-person, but that doesn’t mean that letting go of remote work is easy for employees. Many members of your team are likely to dread being back at the office, or struggle to adapt to another new normal. So, how can teams and managers help employees reacclimate to the office? 

These five strategies could be the way to go. 

1. Be transparent about your motives for in-person work.

Any time your organization undertakes a big shift in strategy, it’s vital that your team stays informed about the change. Uncertainty can be breeding ground for anxiety and confusion. Even if the reasons for returning to the office seem obvious to you, be sure to explain your rationale. Highlight the benefits of in-person work and be sure to emphasize any individual benefits to the employees. You’ll likely ease some people’s anxiety, and establish a better connection when everyone is on the same page.

2. Don’t ignore how employees are feeling about the shift.

While explaining yourself as a leader is valuable, listening to the people who follow you is even more important. If everyone on your team is ecstatic about seeing each other again, then you know you’re in for a smooth transition. But, if not, your anxious employees will feel so much more supported if they’re given the opportunity to voice their concerns. Allow room for feedback and reactions to this big decision. You might even consider an anonymous survey to encourage honesty from anyone who is less likely to speak up publicly.

3. Foster transparency in your organization in order to make the work your employees do feel meaningful.

Research from the Harvard Business Review discovered that employees tend to trust our top public health experts when it comes to reentry timelines. It also showed that fewer than one in 10 employees would feel safe returning to the office on the word of their employer alone. Make sure every decision you make is in accordance with health guidelines from the CDC and state health departments.

4. Continue to prioritize employee mental health.

According to a CDC study from August 2020, 40% of US adults reported struggling with mental health or substance abuse in late June of last year. Although we’ve come a long way with vaccinations, the pandemic is not over. The value of mental health support has always been high, and a period of transition only amplifies the need for strong resources. If you plan to return to the office, keep mental health top of mind. 

5. Be empathetic to the concerns of your team.

Ultimately, a lot of comfort is inspired by not only what you say, but how you say it. It’s been a difficult period for almost everyone in the country. People react to things differently, but we’ve all experienced a collective trauma with this pandemic. The best thing you can do is be kind and patient. The best way to achieve personal growth for your employees with company goals, is to work together.

If you want to learn more about how Best Money Moves can bring financial wellness to your company, download our whitepapers.

4 Ways to Support Employee Mental Health Post-COVID

4 Ways to Support Employee Mental Health Post-COVID

by | Jul 27, 2021 | Blog

4 ways to support employee mental health post-COVID. Mental health issues are on the rise in the wake of the COVID-19 pandemic. What can employers do to support struggling employees?

A major issue emerging from the COVID pandemic is the long-term effect on mental health. 

Despite a return to normalcy (endangered now by the new Delta variant), more and more employees are reporting mental health challenges as a result of the pandemic. One in four U.S. adults report symptoms of anxiety or depressive disorders, according to data from the Kaiser Family Foundation. And additional data from KFF has linked pandemic-related stress to problems sleeping and eating as well as increased alcohol and substance use. 

Employees need robust mental health support in a post-COVID workplace. Luckily: Employers are listening. A solid 41% of companies surveyed plan to expand mental health support in 2021,  according to Care.com’s The Future of Benefits report. Here are 4 strategies for supporting employee mental health through the end of the pandemic and into a post-COVID world.

1. Give mental health support the significance it deserves.

In order for mental health to reach the same significance in the workplace as physical health, it needs to be incorporated into the policies and training. In a post-COVID world, just as managers will be equipped to handle social distancing or mask guidelines, they ought to also be educated on how to best support mental health. This might include knowing how to spot signs of increasing mental illness, or simply knowing what resources to offer to struggling employees.

2. Recognize mental health days as sick days and don’t penalize employees for taking them.

One of the best ways to support mental health is to break the stigma surrounding it. If an employee needs a sick day because of the flu or injury, a team will do their best to accommodate. However the same can’t always be said for time off related to mental health.  Create a culture of trust by not only allowing mental health sick days but encouraging employees to take them when they are necessary. Often, a day or two at home goes a long way in helping struggling employees feel rested and focused. Plus, these policies let employees know they won’t be penalized for struggling.

3. Foster transparency in your organization in order to make the work your employees do feel meaningful.

It can be draining for an employee when they don’t see the purpose behind their work. As company leadership, it’s critical to communicate your vision and goals to the whole team. When an employee can understand why their work matters, it gives them so much more motivation to get out of bed every morning. In fact, some researchers claim that meaningfulness is the most important factor of work for employees, even more than pay or mobility. As such, being a transparent employer can go a long way to improving the mental health of your employees.

4. Be flexible and patient with your team as it continues to grow.

The pandemic affected many of our lives logistically. People moved. Companies moved. Now, as employees return to the office, it might not be so simple to get things back the way they were. The thought of in-person work might be overwhelming for some and exciting for others. Employers must recognize that many people experienced the pandemic differently. Their mental and physical needs will be different. As we settle back in, allowing time and space for the folks who are slower to adjust is critical. Mental health support is not one-size fits all and an individual approach can go a long way.

If you want to learn more about how Best Money Moves can bring financial wellness to your company, download our whitepapers.

4 Ways Financial Wellness Can Boost Employee Retention

4 Ways Financial Wellness Can Boost Employee Retention

by | Jul 14, 2021 | Blog

4 ways financial wellness can boost employee retention. Retention is an increasing problem in the post-COVID workforce. Financial wellness benefits could be the solution employers need. 

In the post-COVID world, retention is an increasingly complex problem that organizations are struggling to solve. 

In fact, 64% of American workers are seeking or considering new employment according to a November 2020 study by HR software firm Ceridian. That number jumps to 75% for workers under 30. For organizations to have any hope of combatting this wave of turnover, they need to first get real about the pain points driving employees to leave. That’s where financial wellness comes in. 

Consider these four ways that financial wellness benefits can help boost employee retention.

1. Financial stress is a bigger problem than most employers realize.

Vaccinations have significantly improved the state of the pandemic, but experts estimate that it could take years for Americans to recover financially. Now, most Americans rank their finances as the single biggest source of stress in their life. Finances can be a taboo topic at work, but chances are you have multiple team members that are struggling. Offering financial wellness benefits can provide valuable help to employees of all ages, incomes and backgrounds. 

2. Financial wellness provides tangible benefits to stressed employees — and their workforces.

Financial stress can lead to a loss of productivity, increased absenteeism and widespread mental health challenges among employees. So, learning how to manage your money doesn’t just reduce stress in an abstract sense. When employees are less stressed about money, they’re more focused at the office and spend less time on non-work related issues. This, in turn, can reduce absenteeism and improve overall retention rates.

3. Financial wellness programs can help employees feel seen by their employers.

When you offer financial wellness programs to your employees, you signal to them that you care and have a realistic view of their work/life balance. Staying connected with the struggles of your employees helps create a more intimate work culture, which in turn creates a more positive overall experience at the office and makes it that much harder to leave.

4. Money impacts every aspect of your employees life. Financial wellness can too.

At its core, retention is about ensuring employee satisfaction and successful retention strategy finds a way to help employees feel fulfilled in all areas of their lives. Money touches nearly every aspect of a person’s life, from daily spending, to housing, to family planning, or saving for a future retirement. So financial wellness can bring wide-reaching, impactful help to employees at any stage or circumstance.

Best Money Moves is a human-centered and individualized approach to financial wellbeing. The comprehensive and user-friendly platform provides a plethora of financial resources and educational tools. The library of resources contains over 700 articles, videos, and calculators. Each Best Money Moves user has their personal feed tailored to the several distinct factors that monitor their personal stress. This means your employee can use Best Money Moves to educate themselves on anything from investing in the stock market to co-signing loans to buying their first home. 

Employee information is always private but employers do have access to key analytics that show overall employee financial stress and stress levels over time. The Employer Dashboard also features information on program usage, debt and savings levels and more so employers can see just how valuable Best Money Moves is to their employees.

If you want to learn more about how Best Money Moves can bring financial wellness to your company, download our whitepapers.

4 Ways to Support Female Team Members After COVID

4 Ways to Support Female Team Members After COVID

by | Jul 7, 2021 | Blog

4 Ways to Support Female Team Members After COVID. Research increasingly finds that women have been disproportionately affected by the pandemic. What can employers do to support female team members? 

Women, especially women of color, have been disproportionately impacted by the COVID-19 pandemic. According to a 2020 study conducted by McKinsey & Company, women comprise roughly 39 percent of global employment, but have accounted for 54 percent of all pandemic-related job losses. 

Even as the pandemic wanes, many women continue to face long-term hurdles to their career development due to inaccessible childcare options or gaps in their work history from forced time off. What can employers do to provide better support to these female team members? 

Consider these 4 benefits that can help provide much needed support to women in your post-pandemic workforce. 

1. Facilitate flexibility for all employees.

It comes as no surprise that many women with families are still the primary caregivers in their homes. In fact, according to research from the Society of Human Resource Management, as many as one in five people know a woman who left the workforce during the pandemic in order to handle child care that became suddenly inaccessible after daycares and schools closed.

Consider pivoting your team to a results-focused rather than time-focused schedule. This can not only support productivity, but also keep workers less stressed and more focused as they know they have support for their duties both at work and at home. 

2. Provide paid parental leave for new parents, regardless of gender.

Similarly, if your workers are welcoming a new family member as part of the anticipated post-COVID baby boom, aim to provide mothers and fathers alike with paid parental leave. According to a report from the U.S. Bureau of Labor Statistics, only 21% of US workers have access to paid family leave through their employers. This puts the U.S. well behind any other wealthy country, where paid parental leave is not only available, but often nationally mandated.

Paid parental leave has been shown to help combat income inequality and improve job continuity, especially for lower-income families. Plus, providing leave to men in addition to women normalizes the practice and combats the “motherhood” bias. This is a prejudice that women may face in competitive fields should they choose to take time off work to be with their new children.

3. When hiring new team members, be realistic about the gaps in work history related to the pandemic.

For those women forced out of the workforce by the pandemic, returning to the office may not be as simple as picking up their careers where they left off. Even as they return to work, many women fear long-term damage to their career trajectory and salaries, which have been thrown off track by the unexpected absence. When approaching the hiring process after COVID, try not to penalize applicants who may have been forced to take time off work due to the pandemic. 

4. Institute (and stick to) pay equity measures among team members.

Finally, and perhaps most importantly, be sure that you compensate your female workers with the same criteria you use to compensate male employees. On average, white women still earn only 79 cents to every dollar that their male coworkers earn for the same positions. Women of color are often even more significantly impacted, earning anywhere from 54 to 62 cents on the dollar compared to white men.

One idea some companies are using to successfully address this issue is to conduct transparent salary audits. This holds the company accountable and signals to potential employees that there is an active effort to achieve equity. Another successful strategy is banning inquiries about past salaries. This effort stops employers from importing unequal salaries from past companies.

Gender equality benefits all employees in your organization. Be sure to review and update your strategy for gender parity often to make sure you’re supporting the team members who may need it most.

If you want to learn more about how Best Money Moves can bring financial wellness to your company, download our whitepapers.

3 Things to Plan For When Returning to Work After COVID-19

3 Things to Plan For When Returning to Work After COVID-19

by | Jun 23, 2021 | Blog

3 things to plan for when returning to work after COVID-19. Workforces nationwide are gearing up to return to physical office spaces. Consider these 3 strategies to help your team with the transition.

At the height of the pandemic, it was hard to imagine crowded restaurants or sidewalks, let alone bustling offices. But now the vaccine rollout has resulted in a return to “normalcy.” While working from home may continue to be an option for some people, a slow and steady return to the office will be the right move for many companies. But how should you take those first cautious steps back into the workplace? 

Let’s break down the three must-haves for your return-to-work strategy.

1. Consider a phased approach.

The key here is not to overwhelm. Inviting all employees back to the office at once is almost sure to create anxiety among employees. Consider scheduling only some of your employees to return and then slowly increasing in-person commitments as needed and as is comfortable for the people in the office. This not only helps maintain social distancing protocols for the early days back, but also gives people extra time to reacclimate to the office.

You might also consider implementing a staggered approach and require certain cohorts of employees to come on different days or weeks. This approach has a few benefits. First, you can maintain physical distance in the office. Second, working in smaller teams can often lead to more intimate bonds. Facilitating social bonds is particularly important after so much time away from one another. The last benefit is that if a situation arises where you need to track a contagious outbreak, you’re limiting exposure and creating a window between groups to further disinfect the office. 

2. Get creative with your office layout.

Once you’re ready to start welcoming your team back (whether all at once or staggered over time), lend a discerning eye to your physical office space. In many cases, especially if your organization is large or open-concept, the office layout that worked for your pre-pandemic workforce might not be useful for your current employees. 

Make sure work spaces are spacious and physical barriers cut clear lines of where employees can/should sit, work, eat or socialize. This not only helps reduce risk and make contact tracing easier, but it makes people feel safe. It’s vitally important to have an office layout that inspires comfort and safety. Ease of mind is top of mind after such an anxiety-inducing time apart.

3. Establish clearly defined health and safety protocol.

The emphasis here is on “clearly defined.” Not only should you create robust guidelines for social distancing and mask expectation, but you should relay them very explicitly to anyone involved in the return to the office. 

Workers have varying opinions about COVID-19 and they may feel comfortable with different levels of risk. Creating straightforward and clearcut rules will improve workflow by avoiding arguments on this front. This applies not only to COVID-19 prevention tactics in the office, but also what workers are expected to do if they think they may be falling ill. Be sure to consider firm rules for handling sick days as as returning to work after an illness. 

Armed with these three pillars of a return-to-work plan, getting back to the office is entirely doable. One final piece of advice, however, is to be flexible. Our times are constantly changing and staying attuned to the best practices requires patience and malleability.

If you want to learn more about how Best Money Moves can bring financial wellness to your company, download our whitepapers.