Most businesses are profitable because of the quality of their staff to implement the corporate objectives. Most employers have key staff without whom they could not operate. Most key staff are also parents, who value their children’s happiness and education above all; the key staff may also be parents-to-be or grandparents. By offering appropriate low-cost support to significantly improve profitability, the employer can improve recruitment, motivation and retention of employees. Surely impossible and too good to be true, or is it?
CSR and employee well-being
- In a free-market business society, we are driven by achieving business objectives, including optimising profitability.
- Over recent decades, we have gained a greater understanding, desire and even formal regulation to undertake business with a wider responsibility to many stakeholders, and not just shareholders alone.
- Corporate social responsibility is now well-known albeit still a developing discussion for many.
- Mental illness and employee well-being are rightly currently highly publicised, and public and private sectors are seeking to find ways to address the challenge.
- Employee benefits are wide and varied, though a caring employer will consider benefits “outside the box”, which fulfil the employee’s and employer’s needs.
- We all know that employees are our most valuable asset and yet they do not “appear” on our accounts, unlike turnover, profit, assets, liabilities etc. Are you shouting, “employees affect every line, and thus appear on every line of our accounts”? Not all employers are as observant and caring as you perhaps?
- We spend enormous time, effort and funds, in recruiting, employing, training…then losing staff, and then repeating the cycle!
- There is no silver bullet but how can we recruit well, motivate, engender loyalty and retain, whilst respecting CSR, and fulfilling employee needs and respecting mental well-being….whilst improving profitability?….
…. Perhaps by joining the dots “outside the box” to find what is most important to our employees?
Break the cycle
- We were all children once.
- Our parents wanted us to be happy, healthy and well-educated, so we could prosper in life.
- Our parents worked for many reasons but amongst the most important were to deliver the above for us. This has not changed.
- Have employers taken adequate heed of these needs and offered adequate help to their employees beyond the obvious and commonplace?
The unfulfilled employee need
- Virtually all employees who will be, or are parents worry about the education of their children, and thus potentially the impact on their whole family.
- They often do not know enough about the options, whether through the private or state sector.
- They readily find guidance for legal, investment, plumbing matters and so on, but not their children’s education.
- They need guidance on education matters that will affect their children and their families, on which they can rely from trusted independent sources.
- They have a need for information so they can make informed choices for those they value the most.
- Should they select state or consider private schooling, and all the dozens of factors to research and consider as appropriate?
The risks of not fulfilling the need
- If parents decide on private education without guidance, they MAY be fine, BUT they may as easily have made the wrong decision. They enter into a long-term financial commitment that may cost them more than their mortgage. They may be under permanent financial pressure.
- All of this generates pressure and impacts on their mental well-being, and negatively affects their home and work lives.
- Such pressures can lead to financial ruin; even divorce; poor work performance possibly even dismissal; sadly some become suicidal.
- Equally and diametrically opposed, parents may have failed to give their children an opportunity that existed, due to lack of information and guidance.
- Employers can resolve the above, cost-effectively.
The benefit and the beneficiaries
- Early advice to make informed decisions is the key.
- For parents, to know that their employer could assist, would be a benefit more valuable than virtually all other benefits.
- Employees would consider this as an attractive benefit when considering employers during the recruitment cycle, and engender loyalty, and motivation once employed.
- Children live with parents for many years before they become financially independent, though during their education-lives many decisions need to be made at very regular intervals…with guidance and advice.
- All employers want a happy, motivated and loyal workforce; we never forget someone who is helping, or has helped, our children.
PESI has the solution
- If you are a senior executive with an understanding and a desire to find a solution for your staff, then look no further. At PESI, we tailor solutions for your staff and you as the employer.
- We deliver independent guidance about the pros of cons of both the private and state education sectors and key facts relevant to the employees’ personal circumstances.
- We offer a turn-key solution to suit your needs, geographically, venue, timings, number of employees etc. We can tailor our solution to within your budget.
- When we say Bespoke we mean Bespoke!
To find our more, please contact us.