Four new HR policies you need in 2023

In 2022, businesses faced several significant challenges. A cost-of-living crisis. Rising energy prices. Temperatures soaring to 40 degrees and later plummeting to minus 15…

And on top of that, having operations derailed by ongoing country-wide strike action. What was the lesson for HR? Always expect the unexpected.

And whether it’s a financial issue or extreme weather causing chaos, policies can help minimise disruption to your business. They provide clarity and support to your staff, whilst ensuring you always follow the right steps to stay safe from legal risk.

To policy-proof your business for 2023, make sure you’ve got these essentials…

1. Financial wellbeing

When the UK is struggling amid a cost-of-living crisis, your staff need financial support now more than ever.

Having a financial wellbeing policy can help your staff manage their debt and financial struggles. It should outline any support you have to offer, like bonuses, free lunches, or travel loans.

It should also direct them to useful organisations that can give financial advice. And if you have an employee assistance programme (EAP), include this too. This gives your staff an opportunity to talk through their issues with an expert and learn how to manage their finances better.

Having a financial wellbeing policy can help reduce money-worries and anxiety for your staff and help them feel supported. And staff who feel supported are more likely to stay happy and loyal.

2. Energy saving

As energy prices hit the roof last year, the government set up the Energy Bill Relief scheme. This meant people could pay discounted rates on their gas and electricity bills.

This support scheme is set to end in April, so you’ll need to find other ways to keep the costs down. That’s why it’s a good idea to have an energy saving policy.

In your policy, you might want to include rules on when and how to switch off equipment. You may ask staff to use natural light as much as possible.

Having an energy-saving policy can help you cut your costs, whilst keeping you legally safe by:

• outlining steps and measures to improve your energy efficiency
• ensuring you don’t break HSE rules
• making sure your staff understand their role in helping your business save energy

3. Severe weather disruption

In 2022, the UK experienced a 40-degree heatwave in the summer. This dropped to temperatures as low as -15 degrees in one of the coldest winters the UK has seen in over a decade.

The extreme weather conditions forced businesses to take steps to keep their staff safe.

This meant carrying out risk assessments and providing personal protective equipment (PPE). Many had to consider flexible working and others had to close.

You can prepare for extreme weather by having a severe weather & travel disruption policy. This policy will help you keep your business running, whilst removing uncertainty and time-wasting. It outlines the steps to take when disaster strikes, so you and your staff have a legal roadmap.

And if you have to close, it addresses important questions, like how this will affect pay. This helps you avoid an influx of panicked phone calls on the day.

4. Menopause policy

In a survey by the Women and Equalities Committee, 99% of participants said they had at least one menopause symptom.

81% said they struggled to sleep. 75% said they struggled to concentrate. And only 8% felt that menopause didn’t affect their ability to work.

BUPA also revealed that nearly 900,000 UK staff have left their jobs because of menopause symptoms. That’s why it’s vital to have a menopause policy.

Having a policy helps to:

• Raise awareness
• Break the stigma
• Create open dialogues at work
• Inform staff about support (inside and outside of work)
• Clarify details around flexible working (if applicable)

There’s so much misinformation and stigma around menopause. Having a policy can help make your staff feel seen and create a safe space for having those conversations. This can help prevent staff from suffering in silence. So, you avoid losing valuable workers down the line.

Get unlimited documentation support

Having policies helps you enjoy greater peace of mind and less legal risk. But whilst policies are vital, they’re tricky to set up. That’s why with Peninsula, you can leave it with the HR experts.

Call 0800 029 4384 to speak to an adviser about creating or updating your policies. Or, to learn more about documentation support, click here.