How Can Employee Morale Be Improved During Times Of Economic Uncertainty?
How can HR professionals help improve employee morale during these times of economic and financial uncertainty?
How important is employee morale in the workplace? The corporate communications experts at Slack summed it up in a recent article:
After all, it’s the social connection and bonds between colleagues that is foundational to the success of all organisations. People who feel a sense of connection to their work, teammates, partners and organisation don’t just show up for their 9–5. They look forward to the opportunity, are resilient in the face of challenges and exceed goals faster.
I think we would all agree that employee morale is more important than ever. Morale can be the difference between survival and dominance for companies in 2022 and beyond. But what can HR and executive teams do to improve morale?
We’re all essentially in the same boat with high inflation, high fuel costs, and widespread economic uncertainty. We don’t know when things will return to normal, but we can take a few simple steps to improve morale right now. Let's look at three of them.
Offer employees financial and personal counseling.
Last month, we discussed maintaining a mentally healthy workforce in a three-part series on mental health and work-related stress. HR teams must ensure employees know what mental health benefits are available to them. This includes professional counseling.
Financial counseling can also be a huge benefit for employees who might be anxious about economic uncertainty and inflation. Innovative financial advice from a professional can be a huge stress reliever!
Employees will be extremely grateful to know that they potentially have options to consolidate high-interest debt, access retirement funds, increase retirement contributions, and other creative financial options.
Schedule some fun company events for employees.
Company events can be highly effective morale builders. Events like company picnics, happy hours, and social events designed to recognize the unique contributions of your employees will go a long way to building morale.
Team leads and managers also need to be inclusive and in close contact with remote workers who may feel isolated.
Companies want to ensure that all employees have a strong feeling of solidarity right now.
Support healthy employee work-lifestyle environments.
HR, team leads, and executive leadership all need to make sure they are offering flexible work schedules and work options whenever possible. More flexibility is better than less in these trying economic times. Employees are acutely conscious of saving on drive times and fuel costs.
These are tough economic times. But if we stay connected, confident, and informed, we can make it more tolerable together.
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