 Designing the future...
As we all know, financial worries create unwanted stress and at work this can translate into a distraction from usual performance.
The Money and Pensions Service found that -
- One in four workers have lost sleep over money worries;
- 59% of employees say that current financial worries prevent them from performing at their best;
- poor financial wellbeing can cost employers the equivalent of up to 17% of salary costs;
- 46% of employees say that financial pressure affects their relationship with their manager.
What can you do to help?
Make it easy for your staff to talk to you - even where there have been no changes to their wages, other changes in their household income and expenditure may be creating money worries.
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Explore options for supporting employees to smooth financial shocks, including those associated with COVID-19. This could help to avoid defaults and long-term effects on people’s credit ratings. Although this looks different in different organisations, it might include, for example, employers offering short-term loans or savings schemes that complement a range of government provisions to freeze debt repayments.
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Sign-post employees to appropriate advice and support, such as that offered by The Money Advice Service which has written a series of guides to help people navigate their finances during the pandemic. They have a helpful free Budget Planner
- Download sources of expert help from the Money Worries link from this Support Your staff page
Designing the future you want
If you plan you might get what you want. If you don't, you might have to like what you get... Unknown
After this time of lockdown now is a great time to reflect on how it has changed you / the market and decide what future YOU want to create for yourself / your team / your service.
It might only be tweaks away from how things have been or it might be a giant leap, either way you'll only get there by taking small consistent actions in the right direction.
The 3 stage Walt Disney Strategy can help you work out and design the future you really want. It's a process that stops our inner critic saying 'You. Can't. Do.That.'
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Dream - 'If I had a magic wand, what would I/we wish for ourselves?' - no censoring, nothing is off-limits...
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Make a plan - 'How could I/we make this dream become reality?' - take the dream seriously and make a plan (no space here for 'buts' and 'that can't happen because...')
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Critique the plan - stress-test it, make it robust, think of all the negatives, and a way to get around them. If some of it really isn't workable, go back to the Realist in (2) and ask for some new planning. The only rule is that you can't talk to the Dreamer in (1) - If the Dreamer needs to be asked to dream a bit more, the Realist does the asking.
Then start turning the plan into small actions.
Sometimes good things fall apart so better things can come together - Marilyn Monroe
You don't need to see the whole staircase, just take the first step - Martin Luther King
Taking the opportunity to review equalities
Not only is it the right thing to do, it make sound business sense - the most effective organisations are the most inclusive and diverse, so building back better means checking that you really aren’t missing out on the best talent, innovation and decisions by using out-dated (and illegal) assumptions about people's abilities based on (amongst other things) their race, gender, ethnicity, disability. Guidance and model policy from ACAS.
There are many good practice guidance and charters
Race at Work Charter to take practical steps to ensure your workplace is tackling barriers that ethnic minority people face in recruitment and progression
Disability confident
Flex in Flux webinar from Working Families
Carers in the workplace and local information and support from Carers in Southampton.
Swap 4 wheels for 2 wheels or 2 feet and feel the benefits in your body, mind and purse - My Journey offers encouragement and information on walking and cycling for individuals and organisations
Cycle September – log your rides to win prizes in this fun September challenge
If you’ve not ridden a bike for a while – Ride Healthy has tips on riding and maintenance
Workplace Travel Grants You can apply for up to £5,000 towards sustainable travel projects, such as installation of cycle parking, new shower facilities, or electric vehicle charging points. Find out more here.
Business recovery
Informative newsletter and free resources to help you rebuild your business. Covers people, finances, suppliers, technology, business model and leadership
An evidence based approach to recovery through wellbeing
HR advice for small businesses
New research on what really works, for example improving health & wellbeing.
Supporting your staff
Work-related stress, worker wellbeing and mental health - Guidance and support from the Health & Safety Executive
Supporting SMEs and CICs to recover – local Southampton business support funding information and links
All things jobs and career - careers guidance, apprenticeships, training, employment support and jobs bulletin - information and links from Access Southampton
Looking for work? jobhelp is a good place to start
Keeping any unused Apprenticeship Levy Funds local - Transfer to Transform encourages large employers to pledge their unspent levy funds to cover the costs of apprenticeship training for smaller businesses.
Calendar of national health & wellbeing days and weeks.
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