When employees lose their benefits due to their employers’ cost-cutting measures, there are several actions they can consider to reduce them or replace them with rewarding but less expensive rewards.
If you’re an employee and recently lost your benefits, read on to learn how to control the outcome with productive steps.
What happens next is up to you, but to get the desired result, you need to have a plan of action.
In addition, it is also vital that you are aware of any emotional reactions you have to losing your advantages before fighting for what is rightfully yours.
Keep your emotions in check
How do you deal with your emotional reaction to losing your perks? Losing your bonds can trigger the same response pattern as any other personal loss.
Being aware that you can go through the stages of grief It will help you control your emotions and understand when the time is right to start communicating with your employer.
stages of mourning
What are the stages of grief?
Denial, Anger, and Bargaining
Initially, there may be shock and disbelief when you discover that you have lost your advantages. Denial acts as a defense mechanism to protect people from overwhelming emotions.
As the reality of the loss sets in, control your emotions. Are you experiencing anger and frustration? Keep in mind that you can direct your anger at yourself, at others, or at the situation. This stage can be characterized by resentment, injustice, and the desire to blame someone or something for the loss.
Exercise is a great way to get rid of bad feelings you’re harboring and will give you a clear head and the motivation to create your action plan.
With your plan, you can move on to the next phase of grieving, which is called negotiation. At this stage, you can meet with management and negotiate or make deals to reverse or postpone the loss of your benefits.
Depression and acceptance.
The other two stages of the duel need not be relevant, as you can control your next move. You don’t need to feel depressed or accept the status quo as you can change jobs and employers.
With your emotions in check, now is the time to productively pursue the best outcome for you.
Productive steps to roll back employment benefits
It’s time to consider how you can take steps to restore your employment benefits or provide alternatives.
1. Communicate with management
Start by having a conversation with your supervisor, manager, or human resources department to understand the reasons behind the decision. It may or may not be the right time to voice your concerns. Ask for clarification and ask about any workarounds that might help mitigate the impact on employees. This meeting is about understanding why benefits have been removed and whether there will be alternatives.
2. Negotiate alternatives
Explore the possibility of negotiating benefits or alternative benefits that may be less costly to the company but still provide something of value to employees. For example, instead of completely eliminating a perk like a gym membership, you could suggest a discounted corporate rate or explore other in-office wellness initiatives like a yoga and meditation break room.
If one of your advantages is working remotely? Many companies have replaced the full-time remote work setup for employees with a hybrid work model.
Suggest hybrid work as a compromise and increased use of productivity-enhancing collaboration tools in a hybrid work setting. If IT security is a concern for your employer, here’s an article on how to make sure you have the right IT infrastructure for a hybrid workplace.
Make sure you are well prepared and know which benefits can be reversed and which can be left behind and replaced with alternatives.
Look for outside resources or benefits that may still be available to you. For example, industry discounts or professional associations that offer benefits to their members.
3. Seek collective action
If multiple employees are affected by the removal of benefits, consider discussing the situation with your colleagues and potentially forming a collective voice.
If you can avoid it, don’t do it alone. As Aristotle said: “The whole is more than the sum of its parts.” As a group, approach management or HR. H H. to present a united front and propose alternative solutions or compromises.
4. Focus on compensation
While losing benefits can be disappointing, it could be an opportunity to negotiate a salary increase or additional compensation to make up for the loss. You may choose to do this on your own rather than collectively as a team.
Emphasize your contributions, skills, and the value you bring to the company, and explore the possibility of a salary adjustment during performance reviews or salary negotiation discussions.
5. Improve skills and marketability
Take advantage of the situation to improve your skills and marketability. Invest in professional development, attend relevant workshops or courses, or pursue certifications that make you more valuable in the job market. By doing so, you can position yourself for better opportunities if necessary.
6. Consider alternative employment options
If the loss of benefits significantly affects your job satisfaction or overall compensation, you may want to explore alternative employment options. Update your resume, network, and look for opportunities that align with your career goals and offer your desired perks or benefits.
Losing your benefits can be an emotional experience. It is crucial to understand the stages of grief that you may experience. Give yourself and your colleagues time to process the event.
Remember, every situation is unique, and the best course of action to reverse loss of benefits or obtain alternative solutions depends on several factors, including your relationship with your employer, company policies, and general economic conditions.
If your actions don’t work, explore personal finance strategies to help manage the impact of losing benefits, such as budgeting or cutting spending in other areas.