The current cost of living crisis and the impact it is possibly having on you and your staff cannot be ignored. The squeeze on the costs and standards of living is being felt by all and, for some, difficult choices are being made about food and heating, and reliance on food banks is increasing.
The impact can also stretch more widely than an individual’s financial health. Overall wellbeing is impacted when choices have to be made about the activities people engage in to help them relax and unwind such as gym membership, trips to the cinema and meals out.
The overall wellbeing of your staff is important, not only because you care but because it will impact on their ability to deliver their role successfully.
This comes at the same time as school budgets being squeezed and our ability to increase pay or offer additional benefits is limited.
We may also see the impact of this through staff attending work when they aren’t well enough to do so as they cannot afford unpaid days. Or more staff taking on a second job.
So, what can you do? Talking about someone’s personal financial circumstances is often seen as a taboo subject, not one we would ask someone about and not always easy for an individual to raise with their employer. As a leader, offering space for someone to talk confidentially is a good place to start. We are not expected to be financial experts or to be able to solve problems, but we can be the person to signpost someone to the right support and resources.
There are a wide range of resources available and here are just a few for you to consider;
Did you know we have partnered with Wesleyan Financial Services? Wesleyan can run financial wellbeing surgeries on your school site covering a number of financial topics: Wesleyan Financial Services.
If you have a school Employee Assistance Programme (EAP), they will likely include support to an employee on finances and debt. You may have signed up to a specific EAP service or have access to one through your absence insurance. Here you can find details of EAP providers: HR wellbeing - Employee Assistance Programme. HFL Education are procuring a new EAP offer for schools for the Spring term. Promoting any service you have through staff meetings, noticeboards and email is important to make sure everyone is aware of what they can access. This gives everyone access to the information discreetly and sensitively, without them having to ask for help.
Other avenues of support that could be highlighted to staff;
Hertfordshire County Council: Help to manage the cost of living
National Debtline: Debt advice
StepChange Debt Charity: Free expert debt advice
MoneyHelper: Free and impartial help with money, backed by the government
Money Saving Expert: Energy help, credit cards, flight delays, shopping and more
Work with your staff to see if they have ideas for reducing costs, could you have a car share scheme to save on transport costs? Could you buy into an employee reward scheme where employees get discounts or cashback, for example Hertfordshire Grid for Learning: Staff benefits: Herts Rewards
Showing that you are aware and acknowledging the position many find themselves in is a very positive step. Making sure staff know about support available allows them to engage with it at an earlier stage and make decisions for themselves.
Louise Brace
