January 27, 2023
LaThe financial realities hourly workers face every day can significantly impact how employees perform in the workplace. Employers who recognize this and invest in financial wellness programs for their hourly workers reap the rewards with improved productivity, retention rates and morale. It's a win-win: employees are happier at work while businesses can count on strong teams of dedicated professionals who know they're supported every step of the way.
Hourly workers provide valuable contributions to businesses and communities, yet many are unable to make ends meet. They frequently lack the benefit of paid sick leave, which can lead them into difficult financial situations if medical or childcare expenses arise. Employers can implement measures that will benefit not only their staff, but themselves as well.
How employers can help
Employers can make a lasting impact on their employees and business success by setting higher minimum wages, offering healthcare and retirement plans, providing flexible work schedules for better time management, as well as using tools like Clair that give employees access to wage advances. By addressing these concerns in an effective way, employers create a healthy workplace with more engaged and productive employees, while also helping workers build financial stability.
The impacts of unpredictable scheduling
Unpredictable scheduling is another issue that impacts hourly workers by making it hard for them to plan ahead or take on other job responsibilities. This can have devastating impacts on their income security and overall quality of life. Employers should therefore look at giving employees more control over scheduling - like the ability to request changes, adequate notice periods when those changes occur, plus offering flexible work arrangements such as part-time shifts or job sharing opportunities. This way, they can find balance between work and family commitments without compromising financial stability.
For the hourly workers that help to power a business’ day-to-day operations, financial stability is key. That's why modernizing existing policies like paid time off and healthcare options can be so important. Investing in employees' well-being by bridging their economic gap helps create an atmosphere of security—and it pays dividends for companies too. Learn how Clair can bridge the financial gap for your team with financial wellbeing today.