It seems that the news coverage about the recession has died down recently what with Swine Flu and now the MP’s expenses, but it is still out there and affecting lots of people on a daily basis. I was just in the local toy shop at the weekend with the kids and overheard a lady say that she’d just been made redundant. Lots of doom and gloom.
As an employer I think it is important to remain positive to keep the staff morale high. As an employer we are in a privileged position of knowing how well or how badly the company is doing while the staff are often left in the dark. We have always tried to be open with our staff as to how Bronco is doing, and if they wanted to see the detailed accounts we wouldn’t be at all afraid of letting them see the breakdown of the balance sheet. I suppose maybe if we were struggling I may take a different view?
But if staff are worrying about job security then it doesn’t do their output any good and the quality of work will suffer. Even in a small company worries can spread quite quickly as there are always whispers going around – hopefully at Bronco its more whispers about what’s going to be the gambling stake we’ll give them for the night at the Races in a few weeks rather than fears of job security.
One benefit that we have for staff that I think is well worth it, and we’ve only had to use it once so far (touch wood!) is BUPA health cover. We have a company scheme and if any staff have a medical problem they can get refered to a private specialist which means faster treatment in a private hospital. It is proven that good health care can reduce sickness in a company and means a speedier recovery from illness.
BUPA is one way to help your workforce in a recession, even though it will end up costing you, it will help in the long run and I believe that you should invest in your staff. Along with the private health cover you also get access to a 24 hour confidential telephone support line where any issues can be discussed with qualified nurses and also online they have a resource called Bupa Positive Health where you can take various assessments to check your well being and gives advice on keeping fit and healthy. They really have thought of everything.