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These Employee Benefits Boost Happiness and Retention

These Employee Benefits Boost Happiness and Retention

by | Jul 25, 2017 | Blog

In this week’s Best Money Moves roundup, we take a look at news stories and new research studies that may impact employee benefits and HR issues. We hope you find this news roundup helpful, and we’d love your feedback.

Are the employee benefits you offer helping workers beat the summertime blues?

Benefits that promote a positive work-life balance are proven to boost mood, engagement, productivity and employee retention.

Employees value employers who help them create space in their lives for family, fun and relaxation. Excluding salary, a good work-life balance is the top consideration for millennial job-seekers, according to Deloitte’s 2016 millennial survey.

Not all perks make sense for all workplaces. Listen to your employees and learn which employee benefits would make their lives easier this summer.  While some companies offer summer-specific rewards, others benefit from extra work-from-home flexibility or childcare assistance for stressed parents.

Build your employee benefits package around your employees’ well-being.

Twenty-five percent of millennials would love to quit their jobs. One hiring manager knew the typical office perks weren’t working. Here’s what she did.

More Americans are living paycheck to paycheck than ever before. Luckily, there are strategies companies can use to help relieve employee financial stress.

Identity theft and fraud are becoming more common – and more stressful. Your employees would certainly appreciate your understanding if they’re facing these issues, but they can also use your help. Provide the right resources.

It’s time to listen to your team. Conversations with employees take time, but hiring new people takes even more. Ask these three questions.

Not all press is good press. According to a new CareerBuilder survey, 71 percent of workers would not apply to a business with bad publicity. Boost  your image.

Part-time workers lack employee benefits and it’s making them vulnerable. Providing access to voluntary benefits programs could help relieve financial stress. Learn more.

Are your employees retiring? The U.S. Bureau of Labor Statistics predicts over-65s will be the fastest-growing workplace demographic, and that presents a challenge for businesses. Where this leaves employers.

Job seekers have more options than they used to, which is why attracting quality workers goes beyond offering competitive salaries and standard benefits packages. Recruit top talent.

Give credit where credit is due. Want to keep your employees happy? Don’t take credit for their work.

 

Have something to add? Email info@bestmoneymoves.com.

Introducing New Tech? Don’t Worry About Employee Retention

Introducing New Tech? Don’t Worry About Employee Retention

by | Jul 19, 2017 | Blog

In this week’s Best Money Moves roundup, we take a look at news stories and new research studies that may impact employee benefits and HR issues. We hope you find this news roundup helpful, and we’d love your feedback.

Employee retention is a top priority for almost all employers, and companies know that providing the latest tech is a great way to attract young talent. But unfortunately, introducing new tools the wrong way could put older workers at risk of falling behind.

The key is to keep all of your employees – from millennials to baby boomers – engaged while learning new ways of working. Encouraging collaboration can help ease employees through these transitions while also breaking down generational gaps.

Are your employees tuning you out? Workers report that video calls and visual content are more trustworthy and easier to understand than traditional voice calls and written documents.  Improve internal communication.

One in three Americans haven’t recovered from the Great Recession. One expert blames a job-skills gap. Get your employees up to speed.

Saving money doesn’t come easily for anyone, and making more money doesn’t mean you have more money stashed away. Clearly, the problem isn’t just the amount of take home pay.

Companies often deal with grief as an isolated incident, but it doesn’t end at the two-week (or three-month) mark. Give employees the tools they need to be resilient before they need them.

Americans are stressed out at work, and it’s causing employee burnout. How can you help? Actively listen to your workforce.

Does working from home work? Flexibility improves morale, but it can conflict with the rise of team-based work. Strike a balance.

How trendy is your office? HR departments are changing the way they approach everything from recruiting to employee engagement. Take a look at the future of HR.

Gen X investors are seriously stressed. A new FICO survey found that 41 percent feel they need to save more for the future than they are today. Learn how to help.

Americans can’t seem to retire. Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, according to a new U.S. jobs report. Here’s the problem.

 

Have something to add? Email info@bestmoneymoves.com.

Retirement Literacy Quiz: Are You Really Prepared?

Retirement Literacy Quiz: Are You Really Prepared?

by | Jul 12, 2017 | Blog

In this week’s Best Money Moves roundup, we take a look at news stories and new research studies that may impact employee benefits and HR issues. We hope you find this news roundup helpful, and we’d love your feedback.

Retirement literacy is lower in this country than most people think.

Each day, about 10,000 people hit the magical retirement age of 65. But most people have no idea how much money to set aside for the future.

In a recent retirement literacy survey conducted by the American College of Financial Services, only 5 percent of respondents got a grade higher than a “C.”

A lack of savings is one of the biggest sources of financial stress, and there are few things more stressful than worrying about running out of money too early in your golden years. To know how much money you’ll need for a financially stable retirement, it’s good to understand some basic (and often uncomfortable) facts – like how long you can expect to live.

Think you know how to build a nest egg that will last? Test your retirement literacy with this six-question quiz.

Baby boomers aren’t saving enough for retirement. While they expect to need about $658,000 in their retirement accounts, they’re only averaging $263,000 — less than half of what they’ll need.

Job insecurity makes employees more likely to get sick. A new study from Ball State University found people who reported job insecurity were more susceptible to a number of physical and mental health problems. Help your employees feel more secure during times of workplace transition.

How much should 20-somethings be saving for retirement? It can be hard to focus on a retirement that’s decades away. Here’s what millennial employees want to know about retirement planning.

How can you build a better employee training program? Focus on the areas where your employees struggle most. Learn how to identify where your team could improve.

Which benefits bring in top talent? A top-notch benefits package can help a company attract and retain workers. Check out 11 benefits for which employees will leave.

Retirement plans are leaking money, jeopardizing your employees’ retirement security. The culprit? Loans and early withdrawals. Help your employees save more.

Uber’s workplace struggles offer a great example of what not to do. How can you build a culture of diversity and inclusivity in your workplace? Take a hard look at your office culture.

Employees don’t quit out of the blue. There are usually signals visible long before they put in their two weeks’ notice. Seven signs your employees are leaving.

Building a new well-being program for your employees? Make sure you’re getting the most impact from your investment. Three traits of successful well-being programs.

 

Have something to add? Email info@bestmoneymoves.com.

Your Employees Understand Financial Stress. Do You?

Your Employees Understand Financial Stress. Do You?

by | Jul 5, 2017 | Blog

In this week’s Best Money Moves roundup, we take a look at news stories and new research studies that may impact employee benefits and HR issues. We hope you find this news roundup helpful, and we’d love your feedback.

A lack of savings is one of Americans’ top sources of financial stress. And it’s easy to see why: Forty-eight percent of people say their monthly expenses are greater than or equal to than their income, according to a report from the Center for Financial Services Innovation (CFSI).

This means there’s a good chance many of your employees aren’t saving much (if any) money for emergencies or retirement and they may be digging themselves into debt – another top cause of financial stress.

How can your employees better manage their money?

Are your employees missing out on free money for retirement? A new study found one in five employees don’t contribute enough to their retirement accounts to get the full employer match. Don’t let your workers pass up this money. 

Six out of 10 millennials say they’re looking for new employment opportunities. How can you retain your young employees? By building a high-trust culture.

Members of our armed services are especially susceptible to financial stress. Long deployments and frequent moves make it difficult for them to manage their finances efficiently. Here’s what’s being done to help.

Have you checked in on your remote workers lately? Employees who telecommute report feeling more resentment toward their employers and say they’re facing higher rates of burnout. What’s the fix?

Is sitting the new smoking? Spending 40 hours a week sitting at a desk could lead to a number of health problems, from back pain to colon cancer. Encourage your employees to take a break.

Be honest: How much work do you get done on Friday afternoon? More companies, noting a lack of productivity on sunny Friday afternoons, are embracing “summer Fridays” and giving their employees the afternoon (or entire day!) off.

No one really wants to sit in an office all summer. In addition to considering a summer Friday policy, try these eight strategies for keeping employees happy during the summer months.

Your employees want help with financial wellness. More than half of employees in a recent study said they’d like their employers to offer more financial wellness resources.

Is there a secret to employee retention? Motivated, engaged workers are more likely to stick with their current employers. How to inspire your team.

Have something to add? Email info@bestmoneymoves.com.

Struggling With Employee Retention? Offer Better Incentives

Struggling With Employee Retention? Offer Better Incentives

by | Jun 27, 2017 | Blog

In this week’s Best Money Moves roundup, we take a look at news stories and new research studies that may impact employee benefits and HR issues. We hope you find this news roundup helpful, and we’d love your feedback.

If your company is struggling with employee retention, the solution may be much simpler than you think.

It starts with verbally recognizing your employees when they do a good job. Then, it doesn’t hurt to offer incentives that encourage them to continue performing at their best.

An effective incentives program rewards employees who are engaged, thriving and doing great work. People appreciate when employers value their contributions, and incentives (such as gift cards or travel) could help reinforce the sentiment. Employees who feel like they are contributing to a company’s larger goals and culture are much more likely to stick around.  

Ready to boost your employee retention rates with an incentives program? Here are four tips to get you started.

Can you stop your employees from quitting? It’s not always possible, but you can make an effort if you know an employee is searching for other opportunities. Here are 25 signs your employees are about to leave.

Millennials really want more financial education. The vast majority of them (about 81 percent) are saving for retirement, but many say they need more help getting their financial lives in order. That’s where employee financial wellness programs come in.

Is financial stress putting a damper on your summer fun? It doesn’t have to. Try these three simple budget saves.

Nearly one-third of companies have increased their benefits offerings in the last year, according to a recent SHRM survey. The top reason for the boost is to stay competitive and recruit new talent.

Do your employees’ eyes glaze over in benefits meetings? It’s time to break away from the PowerPoint presentations and try a new medium. Upgrade your benefits presentation.

Employees who take vacations are more productive, according to a new study. The study found that low-performing employees take an average of five fewer vacation days than their high-performing colleagues. So go ahead, take a break.

Wellness programs catch on when company higher-ups lead by example. Visible signs of support from executives – such as participating in the company’s wellness or exercise classes – make employees more likely to participate.

Ping pong tables are fun, but you need more than that for a great company culture. Here’s how one company established a workplace ecosystem that made absenteeism and turnover almost non-existent.

Financial wellness programs are hugely popular right now. Could you improve what your company offers? Check out these 10 tips.

Have something to add? Email info@bestmoneymoves.com.