Over its short life span, cryptocurrency has become a hot-button topic for a wide range of individuals and organizations alike. The notoriously unregulated currency has gone from the preferred payment method for ransomware scammers to an accepted option to pay for movie tickets at AMC in a matter of years. Now, it looks like cryptocurrency is becoming even more established in the mainstream, as employees are hoping their paychecks can come in Dogecoin and Ethereum rather than direct deposit. We can all admit those numbers are pretty surprising, particularly for businesses that have been trying to retain employees during the Great Resignation. While this doesn’t mean you should necessarily start including bitcoin on your job applications, it should encourage business owners to start considering the shifting viewpoints about compensation in 2022.
75% of employees face at least one source of financial stressEmployees spend 9.2 hours per week dealing with personal finances while at work51% of employees are experiencing more financial stress than ever beforeImproving the financial well-being of employees can improve productivity (86%), talent retention (86%), job satisfaction (84%), ability to focus (84%), and mental (84%) and physical (80%) health84% of employees believe an employer should be concerned about their employees’ financial well-beingOnly 55% of employees believe their employers care about their employees’ financial well-being
Suffice it to say, employees are in need of some financial help, and a business that commits to doing so will immediately have a leg up when it comes to attracting the top talent. And as the study shows, financial well-being comes in many forms. Simply put, the Great Resignation is not a failure of employees; it’s a failure to compensate them in a meaningful way. If you want to avoid your own stress over employee retention, you need to alleviate the financial stress that employees are experiencing all over the country.