When employees lose their perks due to cost-cutting measures by their employers, there are several actions they can consider to get them rolled back or replaced with rewarding yet less expensive rewards.
If you are an employee and have recently lost your perks, read on to learn how to control the outcome with productive steps.
What happens next is up to you, but to get the desired outcome, you must have a plan of action.
Additionally, it’s also vital that you’re aware of any emotional reaction you have to lose your perks before you go in to fight for what is rightfully yours.
Keep Your Emotions In Check
How do you deal with your emotional reaction to losing your perks? Losing your bonuses may set off the same response pattern as any other personal loss.
Being consciously aware that you may go through the stages of grief will help you keep your emotions in check and understand when the timing is right to start communicating with your employer.
Stages of grief
What are the stages of grief?
Denial, anger, and bargaining
Initially, there may be shock and disbelief when you find out you’ve lost your perks. Denial acts as a defense mechanism to protect individuals from overwhelming emotions.
As the reality of the loss sets in, check your emotions. Are you experiencing anger and frustration? Be aware that you may direct your anger toward yourself, others, or the situation. This stage can be characterized by resentment, injustice, and a desire to blame someone or something for the loss.
Exercise is an excellent way to clear out any bad feelings you’re harboring, and it will give you a clear head and motivation to create your action plan.
With your plan, you can step into the next phase of grief, which is called – bargaining. In this stage, you can meet with management and negotiate or make deals to reverse or postpone the loss of your perks.
Depression and acceptance
The other two stages of grief do not need to be relevant, as you can control your next move. You do not need to feel depressed or accept the status quo, as you can change your job and employer.
With your emotions in check, now is the time to productively seek the best outcome for you.
Productive Steps To Rolling Back Employment Perks
It’s time to consider how you can take action to get your employment perks reinstated or alternatives provided.
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 express your concerns. Ask for clarification and inquire about any alternative solutions that could help mitigate the impact on employees. This meeting is about understanding why the perks have been removed and if there will be alternatives.
2. Negotiate alternatives
Explore the possibility of negotiating alternative benefits or perks that may be less costly for the company but still provide some value to the employees. For example, instead of entirely eliminating a perk like gym memberships, you could suggest a discounted corporate rate or explore other wellness initiatives within the office, like a break-out room for yoga and meditation.
If one of your perks is remote working? Many companies have replaced the full-time remote working setup for employees with a hybrid working model.
Suggest hybrid working as a compromise and greater use of collaboration tools that improve productivity in a hybrid work setup. If IT security is a worry for your employer, here is an article on ensuring you’ve got the right IT infrastructure for a hybrid workplace.
Be sure to be well prepared and knowledgeable on what perks can be rolled back and which ones can be let go and replaced with alternatives.
Look for external resources or perks 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 perks, consider discussing the situation with your colleagues and potentially forming a collective voice.
If you can avoid it, don’t go it alone. As Aristotle said: “The whole is more than the sum of its parts.” As a group, approach management or HR to present a united front and propose alternative solutions or compromises.
4. Focus on compensation
While losing perks can be disappointing, it might be an opportunity to negotiate for a salary increase or additional compensation to offset the loss. You may choose to do this on your own instead of 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 enhance 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 needed.
6. Consider alternative employment options
If the loss of perks significantly impacts your job satisfaction or overall compensation, you might explore alternative employment options. Update your resume, network, and seek opportunities that align with your career goals and offer the desired perks or benefits.
Losing your perks can be an emotional experience. It’s crucial to understand the stages of grief you may experience. Give yourself and your colleagues time to process the event.
Remember, each situation is unique, and the best course of action to either roll back the loss of perks or get alternative solutions depends on various factors, including your relationship with your employer, company policies, and the overall economic conditions.
If your actions don’t work out, explore personal finance strategies to help manage the impact of losing the perks, such as budgeting or reducing expenses in other areas.