Child care. Elder care. Paying the bills. Health problems. Depression. Substance abuse. Family issues. Divorce. These are just the tip of the iceberg when it comes to cataloging the myriad of issues that today’s workers face—issues that may occur outside the workplace but, inevitably, affect on-the-job performance, productivity and tenure.
Frontline and low-wage employees are most at risk and most vulnerable. So, of course, are these employees’ employers.
Employers are at risk of workplace impacts ranging from absenteeism and reduced productivity, to turnover and other forms of workplace disruption. Employers also play a potentially powerful role in identifying and addressing the issues that challenge their workers—and their workers’ ability to function effectively on the job. It’s not a “nice to do” role; it’s a “need to do” role, one that has a direct impact on the bottom line.
Consider, for instance, the average cost of replacing an hourly, unsalaried employee: 16 percent of their salary, according to a study by the Center for America Progress. Those costs obviously increase along with the complexity of the job and the availability of skilled workers.
Consider, also, the cost of low productivity: Gallup has estimated that “actively disengaged employees” impact productivity in the United States by as much as $450-550 billion each year.
Both turnover and productivity are directly impacted by that wide range of personal impacts addressed earlier. Employees worried about paying the bills, caring for an ill family member or holding their marriage together—and without knowledge of, or access to, resources to assist them—will not be able to perform effectively on the job.
WorkLab Innovations uses a Sustainable Workforce Model to bring together key stakeholders in effective workforce management: community partners, community resources, employer members—and employees themselves. Trained resource navigators help to bring these players together, offering confidential, one-on-one assistance to employees and making referrals, as appropriate, to mental and behavioral health, legal, EAP, financial and other community resources.
It’s the kind of community collaboration that can make a difference. It’s the right thing to do: for employees, employers, the community and the economy.
Interested in exploring opportunities for becoming a WorkLab Innovations trade partner? Get in touch.