Effective Strategies To Treat Your Employees Fairly
Employers have a responsibility towards their workforce, and it’s through this and more that both parties can have a harmonious working environment. Unfortunately, it is not always a picture-perfect situation in every workplace, as research reveals that many workplaces experience unfair treatment and practices. According to data, two-thirds of UK workers often leave their current employers because of unfair treatment, specifically concerning pay gaps and diversity issues. As an employer, you may suffer reputational damage if your employees jump ship. Therefore, consider these tips to treat your staff fairly.
Be proactive on fair compensation
One of the most important aspects of treating your employees fairly is compensating them. Apart from their base salary, this includes benefits like paid time off and health insurance. It is advisable to conduct regular salary reviews and benchmark against industry standards to ensure that your employees are being paid fairly. Additionally, make a conscious effort to be transparent in your company’s compensation structure. It will be in your interest for employees to clearly understand how their compensation is determined. You may also want to consider factors such as pay equity to avoid discrimination based on gender or ethnicity. In the UK, the gender pay gap currently stands at 14.6%, meaning that women earn 85.4 pence for every pound men take home. That has raised debates in different sectors and is a sensitive subject. Fortunately, you can address this issue by taking steps to address any disparities that exist.
Settlement agreements
Another major subject that cannot be overlooked, especially where your employees are concerned, is settlement agreements. It is a topic that has come under intense scrutiny in discussions around the fair treatment of employees. Also known as compromise agreements, they are legal contracts used to resolve disputes or disagreements between you and employees. Settlement agreements are voluntary and typically involve offering your employee money in exchange for an agreement not to pursue any legal action against the business. This tool can be useful for employers who want to resolve issues with workers without going through a formal disciplinary process. While it may seem like a smooth, uncomplicated process, it is crucial to ensure that settlement agreements are used appropriately. It should never be a tool to coerce or pressure your employees into signing them. The right thing to do is for the worker in question to have the opportunity to seek legal advice before signing any settlement agreement. Moreover, the terms of the agreement should be fair and reasonable.
Promote a healthy work-life balance
Another important aspect of treating your employees fairly is to promote a healthy work-life balance. That means offering flexible work arrangements, such as telecommuting or flexible scheduling, to accommodate your employees’ personal and family needs. As an employer, it is vital to encourage your workers to take time off to avoid overworking. It’s understandable why you need them to work. However, keeping your sights on burnout and the risk of decreased productivity is equally important.
Meanwhile, research has shown that companies prioritising work-life balance have happier and more engaged employees. That ultimately benefits your business. Away from that, it would help to also provide resources like employee assistance programmes and varied wellness initiatives. These are meant to support the mental and physical well-being of your workforce.
