3 easy, cost-effective ways to help employees feel safe and financially secure this holiday season

For hourly workers, the holiday season will present financial and often physical challenges amid the health crisis.

(Photo: Shutterstock)

A new Harris Poll survey confirmed what we already knew — that the majority (70%) of hourly working Americans are having trouble making ends meet. Massive unemployment, related to the global pandemic, has wreaked havoc on so many families’ finances. In many cases, at least one member of the household, who was once counted on to help bills, can no longer contribute because they have either lost their job or have had their hours cut.

According to the Poll, 47% of those surveyed will take extra steps this year, compared to last, to make ends meet, including working extra hours (22%) or seasonal jobs (18%).

And guess what, one-third of these employees are looking to you, the employer to help them make ends meet and give them advice about how to become more financially secure.

However, there is some encouraging news. 54% said they are hopeful the economy will improve by the end of the year. How can we step up and lead, even with a tight budget. These three suggestions will have your employees and customers singing your praises this holiday.

1. Offer on-demand pay

On-demand pay (ODP) enables your employees to track and access their pay as they earn it. It’s free for your company to implement and doesn’t require additional resources. ODP provides benefits to both you, the employer and employees.

As the holidays approach, hourly workers once again turn to their employer for help with this very impactful benefit that gives employees the power of flexibility and control over their finances. The Harris Poll research shows that many Americans (45%) say that having access to on-demand pay, instead of waiting for a company-scheduled payday, would have an impact on their spending this holiday season:

The global health crisis severely strained the bonds between employer and employee. The recent research, though, indicates some good news — employees want and need our help. By giving them some peace of mind from a financial and health standpoint, we can rebuild that trust and work together to make this holiday season one we can all celebrate.

2. Bring back former employees

According to a new holiday hiring survey from Ultimate Kronos Group, 51% of retailers said they are looking to rehire former seasonal employees based on existing familiarity with the job. The appeal of inviting back former workers is strong – there is no recruitment cost and they need less training as they are already familiar with the operation.

Also of note, there is already a trust level that has been established between employee and employer. This is a new perspective that is gaining quite a bit of traction during this unprecedented year.

3. Over-communicate safety protocols

For hourly workers, the holiday time will present even more challenges amid the health crisis. Following a down year, there will be tremendous pressure to perform at a high level to meet revenue goals, all while dealing with strict new health precautions.

And many consumers have noted they are ready to shop in-person again. The survey revealed that 41% said they will spend the same amount as they did last year in-store, with 11% planning to spend even more.

But as in-store crowds grow — so will employee anxiety. It is imperative to make employees feel safe by frequently communicating all the steps and protocols in place to keep them and customers safe and healthy.

Jeanniey Walden is an award-winning, entrepreneurial Chief Marketing Officer who uses innovation to transform the way companies work to accelerate growth and brand impact. Currently, she is the CMO of DailyPay, helping to transform the way employees get paid.  For more insights and information watch this replay of DailyPay’s recent webinar with the Ultimate Kronos Group What’s Next? Navigating the New Retail Landscape link. 

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