Building employee trust amidst the recession

The recent pandemic has had a devastating impact globally, bringing the economy to a halt and significantly affecting businesses and employees. This economic downturn has taken a toll on the well-being of Filipinos. According to a report by The Philippine Business Coalition for Women Empowerment and Investing in Women, over half (55%) of workers reported experiencing a decline in mental well-being, while 50% noted a deterioration in physical well-being. Additionally, insurance company AXA highlighted that 87% of professionals in the Philippines have reported work-related mental health issues, a figure that significantly exceeds the global average of 76%.

In these challenging times, building employee trust is crucial for maintaining morale and productivity. Here are some strategies to increase employee trust and boost worker satisfaction:

1. Active Communication and Listening

Transparent and frequent communication is vital, especially during uncertain times. Ensure that employees are informed about company updates, changes, and future plans. Encourage an open-door policy where employees feel comfortable sharing their concerns and suggestions. Listening actively and responding thoughtfully to their input can foster a sense of inclusion and trust.

2. Provide Comprehensive Health Benefits

Offering comprehensive health benefits, including health insurance and HMO plans and mental health support, is essential. Employees need assurance that their health and well-being are a priority. They encourage preventive care, reducing the need for costly treatments and absenteeism. Additionally, providing health benefits are one of the keys to attracting and retaining top talent, as they demonstrate a company’s commitment to employee health. Customizable plans cater to diverse needs, further enhancing employee satisfaction and loyalty.

3. Prioritize Well-being to Empower Employees

Empowering employees goes beyond just providing benefits; it involves creating a supportive work environment. Promote work-life balance by encouraging reasonable working hours and offering flexible work arrangements. Recognize and reward hard work and achievements, and provide opportunities for professional development. By prioritizing employee well-being, companies can help employees feel valued and supported, leading to increased satisfaction and loyalty.