A recent study conducted by Qualtrics reveals a look into employees’ minds amidst rising inflation. The study found a large percentage of Americans to be concerned by their financial standing, considering it to be poor. To combat this, employees seek cheaper living environments, a second job or side hustle, and in many cases, an entirely new job offering higher pay. In addition, working from home has created ample opportunity for employees to take on extra work, whether extra hours from their primary 9-5 or something on the side. But, with more than half of working Americans considering holding multiple jobs, what does this mean for employers?
It’s no secret that employee turnover is a huge cost for companies. We have already seen employees quitting their jobs in incomparable waves. Businesses must evaluate where their employees are hurting and try to adapt. Companies can choose to remain passive, keeping an eye on those who may join the “great resignation” and trying to reevaluate work distribution. Or a business can be proactive and offer their employees low-cost benefits. Lowering one of the monthly expenses eating up their paychecks will give employees more disposable income for their essentials, such as eggs and milk. With money being a top cause of stress for many Americans, offering lower-cost alternatives to healthcare and additional benefits will boost morale and productivity and create a sense of camaraderie among the business and its employees. The best part is the companies themselves don’t even have to lift a finger. With one of our HealthEE by HBG custom benefits stores, employers leave the administrative hassle to us and get to be the trusted messenger bringing the good news to their employees.
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