Coronavirus-19 forced us to time travel to a workforce that may have developed gradually over the next few decades but became the new norm almost overnight. We watched a rapid shift to virtual work and education as well. The recovery isn’t over, but businesses must continue to adapt to the changing workforce trends.
Addressing Evolving Recovery Concerns
The workforce reacted and responded to the pandemic with unprecedented levels of flexibility, new partnerships and adaptability in just weeks. Businesses experienced rapidly evolving organizational priorities.
Given the severity, intensity and impact on both employees and business, the recovery for workforce strategies moving forward requires actions based upon informed and continuous reflection.
According to the U.S. Chamber of Commerce, the Small Business Index shows 65% of business owners were optimistic that the worst of the pandemic passed by mid-year 2021. But, employers’ are now reflecting on the ongoing impact of the pandemic.
The contagious virus is not necessarily the top concern for organizations looking forward. After almost a year and a half of quickly shifting and adapting to the situation, other issues like sustainability, navigating a hybrid work environment, and competing for talent are taking precedence.
Employers are more vigilant than ever in reflecting on what has worked during the pandemic and which opportunities were missed. In reflecting upon the changing workforce, employers are bringing in the employees’ perspectives and concerns.
Prioritize Human Resources
Looking forward, businesses are choosing different operational models and alternate resources to use dependent on the employer/employee situation. Businesses and employees are able to focus on addressing
- Individuals or families contracting the Delta virus
- Compliance with ever-changing laws and regulations
- Job protection/reduced layoffs
These pressing business and workforce priorities pivot around human resource departments to address concerns regarding compliance for the safety and protection of their employees to increase productivity, so businesses can financially benefit.
One of the major contributing factors to these concerns is financial stress and limited resources which affects employee productivity. A never-ending cycle of reflection on alternative options and prioritization is required to keep businesses moving in the right direction. It’s all cyclical. Cornerstone Insurance is here to help provide you with solutions and clear direction to create an exceptional HR team.
Improving Employee Well-Being
Focusing on the physical, psychological, and financial concerns of your employees through employee well-being and benefits has a positive and significant impact on COVID-19 recovery.
Employers need to recognize the diversity of workers’ individual expectations and support them in the transition to recovery, which includes being flexible. Workers may return to onsite work, but others may continue to work remotely. Some will adopt a hybrid approach.
Organizations need to help prepare employees with the skills and capabilities required for such a wide range of workforce approaches and practices to address a worker’s mental and emotional health.
The evolving recovery will require a shift in focus to new priorities, new work routines and schedules. How organizations prepare and support their workforces will be a key driver to workforce performance and retaining talent.
The Growing Importance of Benefits
Employers are challenged to attract and retain the workforce they need. Employee benefits can play a pivotal role because they provide protection and support when employees need it most.
As we approach a new benefits enrollment period, now is the perfect time to reflect on what your employees utilize or require to address their concerns that could be impacting their productivity during this COVID-19 recovery period.
Custom Benefits Packages
Employers know a benefits package that is customized to employees’ personal and household needs are:
- 18% more likely to be productive
- 36% more likely to feel engaged
- 37% more likely to feel resilient
- 45% more likely to feel motivated
- 54% more likely to feel valued/appreciated
Cornerstone values the importance of employee education of your benefits program. The value of traditional benefits like health insurance and retirement savings are well-known, but employees may need additional insights to help them recognize how other options can provide just as much support and enhance their financial security.
Cornerstone Insurance can help you determine the best way to adopt an employee-centric approach to benefits as well as a clear communication strategy to help your employees reap the most from what you can and do offer.
With a commitment to your team and your business, we can help you navigate the evolving recovery and to adapt to the continuous changes in workforce trends to emerge stronger than ever.
Are you ready for your business to thrive on the “new normal?” Contact Cornerstone Insurance today with any questions or inquiries. We’re here to help.
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