How can you help employees squeezed by high gas and food prices?

Comments about “pain at the pump” and “rising food prices” have become part of our daily conversations.  60% of Americans responding to a USA Today/Gallop poll conducted during the first week of May have cut back significantly on household spending due to higher gas prices. The  American Farm Bureau Federation Marketbasket Survey shows the total cost of 16 basic grocery items in the first quarter of 2008  up about 8 percent the fourth quarter of 2007.

While gas and food price increases have the greatest impact on low and middle income wage earners more consumers at higher income levels are searching for savings.  During a spike in fuel prices three years ago only 38% of respondents to the same survey reported that they reduced overall household spending.

The question, “Will employees call in sick when they can’t afford the gas to get to work?” is reinforced by the USA Today/Gallop data.  I responded to that questions with tips and hints on fuel economy and ideas for employer sponsored incentives.  It’s a good time to acknowledge the combined affect of high fuel and food costs by offering some money saving activities and simple incentives.

Employees will save gas and money if the boss pays for lunch to be delivered.  A “Friday Fuel and Food” price holiday would be welcome by many people.  Other incentives and contests that provide grocery or meal prizes are easy and inexpensive to implement and likely to be cheaper than my ideas to respond to gas prices. 

Provide a forum for your employees to spread the word about the lowest prices they find.  Connect single employees or smaller families to share the cost savings offered by warehouse stores.  There’s probably someone at work who can draw the best map of the most efficient route for errands.  Start a recipe contest linked to price points, seasonal produce or supermarket specials.

I could write pages of ideas.  The best source for yours could be one of your employees.  What can you do at your workplace?  The simple fact that you show you care and empathize with employees who are being squeezed by price increases will go a long way.