As a community-based organisation, we see the real impacts of today’s increasing living costs. The inability to afford groceries at the checkout, rising rents and unstable housing are part of a vicious cycle that can lead to loss of employment, housing and, ultimately, safety and security.
We, as leaders, can play a role in supporting the community, and it’s something we are very passionate about at VERTO. So today, I wanted to share my thoughts with those leaders thinking about how they can make a difference.
Driving sustainable solutions
The increasing cost of living is a significant stressor for many communities. As leaders, we can't control the economy, but we can drive sustainable solutions that help alleviate some of the pressures our communities face.
Here are some of the broad areas you can think about as a leader:
- Advocating for affordable services. Support services and advocate for policies that alleviate the cost burden on individuals and families.
- Implementing efficient operations. Look internally to streamline operations to avoid passing costs onto consumers.
- Investing in long-term growth. Guide your organisation to make investments that will provide long-term value to the community.
- Involving the community. Understand community needs by getting feedback directly from the people you aim to support.
Leading with compassion in our own businesses
VERTO is built on three main guiding principles: integrity, sustainability and inspiration. Integrity means that we always do what we say we will do, sustainability means we are dedicated to being here for the long haul for those who need us, and inspiration is about being role models in the community.
As a leader, this is something I take very seriously when it comes to our team, too. Many of our employees are based in regional Australia, and they’ve faced a plethora of challenges, from natural disasters and weather events to today’s cost-of-living crisis.
In response, we’ve developed a robust policy of support, ensuring no one in our team is left to weather these storms alone. We offer a tailored program that mixes support services, such as our EAP through flexible work, additional leave and emotional support from the team.
As an organisation dedicated to transforming the communities we serve, we must take the same approach with our team. This has led to significant benefits. Our team is dedicated to our mission, we have low turnover and staff are willing to go the extra mile, because it is a two-way street.
So, I encourage all leaders to consider how they can support their teams as many Australians weather today’s financial stress and uncertainty.
Talking about the services available in your community
Across Australia, there is a great range of services your team and your community can access if they are struggling, and it’s crucial that as many people know about them as possible. As a leader, you can advocate for these services among your team and the communities you serve.
Three core areas that come to mind right now are mental health support, financial counselling and tenancy advice services:
Financial stress is a leading cause of mental health issues, so it’s no surprise that it continues to rise in Australia today. From organisations like Beyond Blue, Lifeline and Headspace to local charities and initiatives, it’s important that we talk about the services out there.
In NSW, financial counselling is available to anyone who needs it – another vital service right now. The service is not means tested, and it’s entirely confidential. It can help with budgeting, debt management and even talking to debt collectors to help negotiate payment plans.
Another vital service in the current climate is Tenants’ Advice and Advocacy. The rental market in many areas right now is dire. A perfect storm of low vacancy and rising rents is leading to increased housing instability. This service is for any private tenant (that is outside the public housing system) who is facing a tenancy challenge with the goal of helping them keep it.
Find the services available in your local community and discuss them with your network. A team member may not tell you if they are facing a personal challenge, but by sharing available support services, you may just be giving them the lifeline they need.
Giving back at a local level
As an organisation and a leader, you are part of a community that supports you by buying your products, using your services or choosing to work for you. If you aren’t already, it’s a great time to think about how you can give back at a local level.
VERTO has a strong giving program to charities large and small. One of the most rewarding things is giving to grassroots organisations in the local community, because you immediately see the impact.
Among our giving programs, VERTO supports a number of local sports teams each year, because sports are often the beating heart of the community. For children and adults alike, playing in a local team is a great way to build friendships and connections. From funding registration and kits for children who wouldn’t otherwise be able to play to purchasing equipment that keeps a team able to train and compete, we see the impact of our giving in real time.
Our team is really proud of this commitment – and it makes them proud to work at VERTO. So giving back to your local community will ultimately give back to your business too.
As leaders, the true measure of our impact is often seen during challenging times. The current economic climate is testing many in our communities and it’s a moment to step up and lead with compassion. By considering your role in sustainable solutions, supporting your team and finding ways to give back at a local level, you and your business can have a significant impact.
