Building Business Resilience and Employee Support in the Care Home Sector Through the Cost-of-living Crisis

UK economy is facing STAGFLATION. UK productivity is stagnating, and we are set to witness the highest level of inflation rates for the past 40 years. The concern it will take the economy a long time to recover, businesses need to act now to build business resilience and put employees at the heart of all their decisions if they are going to successfully ride the storm.

The care sector is still struggling to recover from the pandemic, with many facing staff shortages, high turnover rates and employee burnout - how should the care sector prepare for the challenges ahead?

Overview: Economy / Wages in Care Sector / NHS Payrise 2022 currently ongoing likely to conclude in June – estimated 3% / Scotland is offering 5%, could result in further employee turnover and pressure on recruitment and retention.

How to prepare for the cost-of-living crisis in the care sector
- Technology can play a big role in helping employees gain back some personal control
- Banking apps, energy smart meters, instant messaging if reaching set limits
- Example initiatives being rolled out by Mountbatten Hospice
- Tech solutions – pay in advance, expenses paid at time of expense not at pay run
- Financial wellbeing ideas to educate employees

Working smarter - improve HR administration
- Cloud based solutions – employee self service
- Example Mountbatten Hospice implementing self-service and holiday booking
- Use of work-flows
- Integrated HR & Payroll
- Make HR and Payroll admin more efficient and simpler – give back time to HR so they can do more value-add HR activities
- How to improve recruitment – processes attract more candidates

Upskilling the HR & Payroll teams and employees in digital solutions
- Cloud / Self service
- Build confidence in use of tech for personal and business use

Actively listening to your employees and taking meaningful actions
- Employee listening tools / surveys

Working smarter with technology and upskilling your employees is deemed to be one of the crucial ways to navigate through the storm.