How well do you understand the needs of your lower-wage workforce?
Even full-time workers can struggle to meet their family’s basic needs from week-to-week.
Understanding the needs of your lower-wage workforce is the first step on a journey to retention and engagement. Currently, many workplace policies are designed to support the needs of middle and upper-class employees, so they often overlook the needs of our lower-wage workforce.
Many lower-wage employees live paycheck to paycheck and struggle with the complexity of balancing transportation, child care and multiple part-time jobs. Employers who understand the details of their lower-wage employees lives and implement workplace policies to support them will have a distinct competitive advantage among their peers.
Here are some factors to consider:
Because of these factors, lower-wage workers have different complexities and challenges than their upper-level counterparts. By implementing workplace policies that include supporting the unique needs of lower-wage employees, your organization will not only decrease turnover costs but also create a culture of loyalty for more workers in your company.