Many employees are having a hard time catching up with
utility bills and other expenses. Others even lost their jobs due to business
closures. If you didn’t retrench most of your employees, you’re doing the right
thing. However, they still have to deal with financial issues, and you can lend
You can setup a loan program that allows your
employees to borrow
money from the company. If you set aside enough funds for the rainy days,
you can use some of them for these loans. Lower the interest rates and make it
easier for them to repay. They’re the reason why the company continues to
operate. Giving them loans is the least you can do. Besides, they will pay the
amount in due time.
Pay internet bills
If your employees are currently
working from home, you can help by paying their internet bills. They’re
using the internet to work anyway. Besides, the company is saving money since
they work from home. Your company has significantly reduced the electric and
internet bills. Use that amount to help struggling employees.
Give a hazard pay
Some jobs offer a hazard pay. It’s an amount given to
employees who have to travel to distant locations or have to place themselves
in danger to do the job. Working in an office during this pandemic can also be
considered a hazard. If you require some employees to go to the office, it’s a
risk. You have to pay their due. They placed themselves on the line to keep the
business running. You owe it to them to at least get paid for their work. It
doesn’t have to be a huge amount, but it can be fair enough.
Give extra tasks
If you have other projects and some of your employees
are capable of doing them, allow them to take the job. They can earn a bit more
in doing so. You’re also going to save money. Instead of outsourcing the
service, you can let current employees do the tasks. They will appreciate
your effort to help.
Pay wages on time or earlier
Some companies have delayed release of wages due to
unforeseen factors. It’s even worse these days due to the decrease in income.
You can help by paying the salary on time. Your employees need that amount and
most of them live from paycheck to paycheck. They will appreciate the effort to
distribute the amount without delays. If you can release it a few days earlier,
it’s even better. It might require your payroll department to work harder, but
it’s justifiable. It’s even easier if you have a small business with only a few
employees. There’s no reason for the delay.
Hopefully, you can understand their situation better,
and try to help whenever possible. Your employees are working hard and they
deserve to be treated well.
1st and featured image from https://www.brinknews.com/wp-content/uploads/2020/10/shutterstock_776498920.jpg
2nd image from https://www.femalenetwork.com/work-money/types-of-loans-employees-a1609-20171015