Employees across industries are facing unprecedented financial hardship, and many employers are wondering what they can do to help. Levi Strauss & Co.’s Red Tab Foundation has created The Employee Hardship Fund Playbook to help companies build an infrastructure to support their employees — not only through a global crisis like the Covid-19 pandemic, but also through the personal crises that employees face even in relatively normal times. This article highlights the four key principles to keep in mind when starting any employee relief initiative.
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The types of hardships affecting employees in the Covid-19 crisis happen at a smaller scale all the time. The Federal Reserve has reported that 40 percent of American families do not have sufficient savings to deal with a $400 emergency expense — and that was before the historic wave of unemployment and economic fallout related to the pandemic.
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