When predicting benefits trends for 2019, it seems like technological solutions will be a major player in the new year. HR managers will be utilizing deep data insights into how employees use their existing benefits to create the most robust benefits package in order to attract and retain talent.
Financial wellness programs, such as those that promote savings and teach household budgeting skills through online or group instruction, are proliferating as employers invest in efforts to help workers manage their finances. However, only 30 percent of employers measure the effectiveness of these offerings, according to a 2018 study of 657 employers conducted by Bank…
The best way to help employees feel less stressed is to help them feel more financially confident. But recently, financial flexibility has taken the place of true wellness.
Did you know that it’s easier to keep employees longer when they feel like they’re getting help navigating their finances. It’s true. When your team has access to financial tools, retention rates go up. But if employers fail to act, they’re more likely to look for a new job. Increased Turnover Costs Turnover costs cost…
When employees aren’t ready for retirement, it can affect your business. Employees who aren’t ready for retirement have increased healthcare costs and salaries. It’s time to take a better look at your retirement plan if you want to help employees prepare for the future. Other Debts Come First Employees struggle to save for a variety…
Recent labor report shows that unemployment rates are at the lowest they’ve been in almost fifty years. This makes keeping talent even harder. Economists believe we are at full employment. The national average unemployment rate is 3.6%. But because the job market is tight, employers need to get creative with how they find and keep good…