How to give your people a 10% pay rise without the money

Stressed employees are not productive employees. Responsible, forward thinking organisations want their people to not only be in control of their life and work, but also their finances.

Think about it, it makes sense, the less stressed and more in control of their life employees are, the better they will perform at work. Companies that have people with low financial anxiety benefit from greater performance and morale. But unfortunately most employees spend as much as 25 hours a month worrying about their financial situation. For a company of 100 employees, that can mean close to 30,000 unproductive working hours or 750 lost working weeks per year.

Almost 97% of employees say they experience financial stress, yet only around 3% take responsibility (self-leadership) to create something as simple as a cashflow for their own life. So "How do you give your employees a 10% pay rise without giving them anymore money"? Answer: Help them take more control of their cashflow with tools and training. Research shows that more awareness of your cashflow can increase your financial situation by around 10% per year.

So there can be huge benefits in providing your people with tools and resources to be able to take better control of their financial situation. Recently one of our clients paid all their people an extra one hour to allow them to go and do their personal cashflow program on employee engagement system meCentral.com

The philosophy for helping employees take more control of their cashflow and other financial issues is exactly the same approach when applied to other key areas such as career development, work life balance and life goals.