July 8, 2014
With the cost of insurance increasing and the number of natural disasters on the rise, team members are often just one step away from financial disaster. Not everyone would be able to bounce back financially from a serious accident or illness, and a natural disaster could deplete someone’s entire life savings. Team members who understand the value of contributing to a relief fund (that is partially matched by their organization) are more likely to seek out employment at organizations who offer them, than to stay at ones who do not.
There is much discussion these days about workplace loyalty, both on the part of team members and organizations. Part of what makes a good team member loyal to the organization they work for is a sense that they matter, even when the organization team members thousands of people. Team member incentives are one way to attract and keep high-quality team members, but they do not always have to revolve around bonus pay or more time off.
Providing team members with a safety net to fall back on in the case of an emergency is an excellent advantage for new workers. Additionally, the more a team member contributes, the more invested in the program, and the company, he or she will be. Explaining this program up front can go a long way towards creating a robust relief fund.
Good team members want to work for good organizations, and good organizations take care of their team members. This means treating them like individuals, not just numbers on a payroll. Team members notice and appreciate efforts by the organization to recognize them as individuals rather than cogs in a greater machine. A relief fund is one way for a organization to make team members feel valued, and to appeal workers who want to work for that type of organization.