Day-to-day expenses
Easing some of the financial burden being felt by many is one way to help and employers have found some innovative ways to provide this support.
One simple and fast way Alight clients are providing financial help is through the Employee Care Card. The card allows organizations to provide tax-free qualified disaster relief (QDR) payments to employees and provide targeted support to address employees’ most basic needs.
Loan-alternative are another option some organizations have added to help people avoid other, more costly loans. Some employers are making services available to give workers access to low-interest loans in time of need, which can help workers avoid taking high-cost pay-day loans, or 401(k) loans or withdrawals that have costly taxes and penalties.
Some companies have formal employee assistance funds that provide grants to workers in need. For example, Alight employees have access to the Alight People Matter Fund, a non-profit program born out of our colleagues’ desire to help colleagues impacted by Hurricanes Harvey, Irma and Maria in 2017. Colleagues can request quick grants or apply for larger grants.
Organizations can provide a wide range of tools and resources to support workers and their families during this global pandemic. From on-point communication, to mental health workshops, to financial support, the opportunities for organizations can range from simple and easy to quickly implement, to complex and impactful. Click here for additional ideas on ways to organizations can support workers.