The holiday season can be a stressful time, particularly when there just never seems to be enough money in employees’ bank accounts. But human resources can demonstrate effective employee management as workers have holiday season stress on their minds.
Pay will be on employees’ minds for the next month, especially if your company is going through a wage freeze or had to shrink or even eliminate holiday bonuses.
“If employees feel resentment toward your company’s pay practices as they shop for gifts, it can hurt your company through reduced morale and output,” says HRmorning.com.
Fortunately, there are ways to help combat the holiday paycheck blues. One possible solution is to educate employees about how to stretch their budgets. Encourage employees to honestly evaluate their current financial situation and figure out how much money they can spend and how much they can put on credit cards before going into too much debt.
Shopping early is another suggestion for employees, because it allows more time to find bargains and spreads buying out over a longer time period.
If your company offers an Employee Assistance Program, encourage employees to utilize that benefit. Many offer resources to help them learn how to manage their budget as well as their stress.
Remember, when money is tight, the holidays can be stressful, and few people plan far enough ahead for the holiday bills to not take a toll on their budget and their mood. So offering different ways to help your employees plan ahead will go a long way in helping alleviate some of their holiday stress.
Does your company offer an Employee Assistance Program? If so, leave a comment and tell us about it!