The COVID-19 crisis has altered business trajectories across the globe, with 13% of employers agreeing that is was challenging to keep up with their ongoing duties. The main issues of concern for every business leader have been maintaining performance efficiencies and minimising the impact that the circumstances have on employees. So, what measures can you put in place to keep your business running smoothly this year?

 

Business processes 

Payroll services are traditionally complex with time-consuming tasks for companies to tackle. However, COVID-19–related disruptions have impacted all business processes, with more attention to detail required (and time invested) for issues such as the furlough process and the managing employer-related risks associated with changing legislation.

MIT offers business process solutions, payroll services, and legal experts to reduce administrative burdens, maintain information confidentiality, and improve organisational effectiveness. When these key factors are in order, industry leaders can contain costs and leverage technology to streamline internal practices and policies, freeing up more time to focus on their corporate vision and strategy.

Existing clients already benefiting from MIT’S business solutions and employee engagement strategies have taken advantage of our expertise and specialist payroll support to help them handle the furlough process’s administration. Additionally, business protection services through MIT’s dedicated legal team, who are on hand for immediate advice and representation for any employment-related legal situations that may arise, has helped to ease employers’ minds about the future.

 

  • 67% of UK employers found managing employees’ fear and anxiety their biggest challenge during the pandemic. (People Management UK, Aug.2020)

 

  • 7 in 10 UK employers highlighted the challenge of ensuring staff were staying well both physically and mentally while working remotely during the pandemic. (People Management UK, Aug.2020)

 

 

Wellbeing 

Employers were already prioritising mental health and emotional wellbeing before the pandemic hit. Now, work-life balance and a holistic approach to workplace wellness are top of the agenda. Wellbeing is a key investment for a business. As well as helping to reduce stress among employees, wellness benefits can encourage staff to adopt behaviours that improve their health, resulting in a positive impact on morale and productivity longterm.

As workers’ emotional challenges continue to deepen due to the pandemic, both employers and employees are looking for ways to support their emotional and physical wellbeing. After the unique challenges of 2020, business owners and senior management understand the crucial link between overall wellbeing and increased performance, which ultimately impacts profitability.

Protecting employees’ wellbeing during one of the most stressful times of their careers has remained a priority for MIT. Our range of wellbeing resources includes online health assessments and nutritional advice, as well as mental health offerings such as an essential confidential counselling helpline. Employees and employers also benefit from our virtual healthcare services, allowing them to communicate with a registered GP online, at any time.

The pandemic has reinforced for many businesses just how much they rely upon employees for commitment to their organisations, and, ultimately, workplace productivity. Whether employees are immersed in digitally working from home or adapted office-based working conditions, the right compensation and benefits offerings can be transformative, creating a happier, healthier workforce.