It’s Easy to Help Your Employees with Retirement Planning

It’s Easy to Help Your Employees with Retirement Planning

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 you ready to take an active role in your employees’ retirement planning?

Workers face a lot of challenges when it comes to saving for the future. When folks are living paycheck-to-paycheck and aren’t sure if they can make ends meet, contributing to a 401(k) plan they don’t completely understand just isn’t a priority. Employers see the financial stress their people are facing and want to do something about it, to protect their teams, increase productivity and improve retention rates.

Lots of business owners and HR departments are already doing more to improve the financial well-being of their employees by offering benefits like on-site childcare, flexible work hours and the ability to work remotely, but there’s more that can be done when it comes to retirement support.

From automatic enrollment to greater access to defined contribution plans, here are some things you can do to help your employees retire well.

Best Money Moves is a semifinalist for the title of “Next Great HR Technology Company!” We’re really thrilled to be in the running, and we need your help to make it all the way to the finals in Las Vegas next month. Vote for BMM here and spread the word!

More Americans are feeling confident about their financial situations. Unfortunately, many of them are underestimating their costs of living in retirement. Here’s what your workers need to know.

“Brownout” is affecting your employees. It might not be as serious as burnout, but disengaged workers can be problematic for your office. Learn how to turn morale around.

Are you responsible for your employees’ financial know-how? Legally no, but financial wellness programs are integral to employee happiness and retention. Read this, and then get started.

Mental health programs help employees. Since 20 percent of millennial workers (and 16 percent of baby boomers and Gen Xers) report being depressed, it’s your responsibility to help destigmatize mental illness in your workplace. Acknowledge what your people are going through.

Serious illnesses such as cancer are difficult to manage, especially in the workplace. Each case is unique, but there are some tried-and-true methods for helping your employees through health challenges. Learn how to have a compassionate conversation.

Opioid addiction is officially a national emergency. It’s one of the major reasons men ages 25 to 54 have dropped out of the workforce, and companies in certain parts of the country are feeling the effect. Here’s what this could mean for you.

Americans have a problem with financial literacy. Questions related to long-term financial planning (like preparing for healthcare in retirement, claiming Social Security and buying life insurance) appear to be the biggest hurdle, according to a new survey. It’s clear financial wellness is more important than ever.

Focusing on holistic wellness programs works. Covering physical, mental and financial health, these programs boost employee engagement and loyalty, says the latest Business of Healthy Employees survey. See how your company could benefit.

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

The Next Great HR Technology Company: Vote Best Money Moves!

The Next Great HR Technology Company: Vote Best Money Moves!

We’re thrilled to announce that Best Money Moves has been chosen as a semi-finalist for the HR Technology Conference’s “Next Great HR Technology Company” award!

For the last 25 years, Best Money Moves founder, Ilyce Glink, has been tackling tough money questions for millions of Americans through her best-selling books, newspaper columns, popular radio shows and blogs.

She has seen first-hand the financial problems  Americans face everyday.

When companies started approaching Ilyce and asking her to help design financial wellness programs for their customers and employees, she saw a big problem: Many of these programs were only thinly-veiled sales pitches for products and services most people didn’t need and couldn’t afford.

Seeing the need, Ilyce took a different approach. She set out to build Best Money Moves, a mobile-first platform focused on giving people the resources, tools and support they need to get control of their finances and dial down financial stress. Confidential, customizable, easy to use and sales pitch-free, Best Money Moves is unlike any other financial wellness program.

Our team is proud to work with Ilyce to help employees reduce financial stress and sleep better at night. We’re honored to be included as a semi-finalist for the “Next Great HR Technology Company” award, and we’re ready to take the competition all the way to Las Vegas next month. Your vote will help make that happen! Click the link below and make your voice heard.

Thanks to all of you for your continued support!

Vote for Best Money Moves

Hurricane Harvey Reminds Us Why Disaster Preparedness is Important

Hurricane Harvey Reminds Us Why Disaster Preparedness is Important

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.

In the wake of Hurricane Harvey, it’s time to examine your company’s disaster preparedness plan.

Those affected by Hurricane Harvey – and those anticipating the effects of Hurricane Irma – continue to be in our thoughts and prayers. If you’re in a position to help, we hope you’ll consider donating to the American Red Cross or another organization providing assistance to those beginning to recover.

It’s critical for businesses to have a plan for responding to natural disasters. From figuring out how to handle power outages and transportation challenges to purchasing the right insurance coverage, getting a head start before a storm could mean the difference between successful crisis management and shutting your doors. Employees need to know they can trust their employers to protect their health, safety and jobs should the worst occur.  

Think you have all your bases covered? Take a look at this disaster preparedness checklist.

One of the biggest sources of financial stress is healthcare. Open enrollment season is right around the corner, and it’s time to start thinking about how you can guide your employees through the process. Expect these three issues to come up.

Employee burnout can be disastrous. In fact, 20 to 50 percent of employee turnover is due to burnout, according to a 2017 Workplace Trends study. Protect your team.

What keeps good employees from jumping ship? “Job satisfaction” and “company environment” are two of the core factors that motivate workers to stick with your organization. Here are some tips for keeping folks engaged.

Is your company a “millennial magnet?” Those cliché millennial perks – like office kegs and ping pong tables – can be fun, but they aren’t always the most appealing to young workers. Choose benefits that really matter.

Casinos could help your company win big. While gambling at work isn’t the answer, casinos are known for maximizing customer satisfaction, and your company could boost employee satisfaction with some of the same principles. Learn how.

How well do you know your employees? Getting to know your employees on a personal level can improve morale and directly benefit your business. Recognize the “human” in human resources.

Employer wellness programs are popular, and it’s no surprise. Healthy, happy employees are typically more productive than unhealthy employees. What do your employees want?

What could your company learn from Airbnb? Airbnb’s focus on creating a strong employee experience ranked them sixth on the Employee Experience Index. Learn these three principles.

Millennials are now the largest generation of workers in the U.S. Not only are nine out of 10 saving for retirement, they’re seeking out employers who offer benefits that align with their values. Here’s what millennials think about retirement, work and money.

 

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

Cut the Guesswork Out of the Employee Benefits Game

Cut the Guesswork Out of the Employee Benefits Game

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.

Open enrollment is just around the corner and, according to The Guardian Workplace Benefits Study, 25 percent of employees believe choosing their benefits is a “guessing game.”

Most employees learn the bulk of the information about their benefits package at new hire orientation, and then rarely hear about it after that. Your employees can’t take advantage of benefits they don’t fully understand. Luckily, 51 percent of employees want more relevant advice about their benefits options, especially during the enrollment process. It’s easier to help that you might think.

8 ways to make employee benefits easier to understand

Make Labor Day meaningful for your employees. One of the top reasons employees leave their jobs is because they don’t feel their work is appreciated. Want to celebrate your team? Put yourself in their shoes.

“Engagement” is more than a buzzword. Investing in your employees encourages them to stay invested in you. Ten reasons engagement matters.

Is your 401(k) plan too complicated? Simplifying your retirement plan will make it more attractive to employees, and there’s behavioral research to back it up.

Your employees’ financial problems are your problems. According to a new CareerBuilder survey, 78 percent of workers are living paycheck-to-paycheck, and it’s affecting their quality of work.

What’s your company’s disaster preparedness plan? According to the U.S. Department of Homeland Security, 61 percent of small businesses have no disaster plan. Here’s why that needs to change.

Organizations with more female leaders perform better. They’re also more profitable and can signal a more inclusive culture that helps attract and retain talent. Support the women in your company.

Voluntary benefits are gaining momentum. An expanding range of voluntary benefits gives employers more flexibility and employees more options. Here are the trends heading into 2018.

Are your employees saving for retirement healthcare costs? When people estimate how much they need to save for retirement, they often forget to take healthcare expenses into account. Learn how you can help.

It’s time to think holistically about your benefits package. Employees are looking for employers that offer a “total rewards” package that supports the lifestyle they want to have today and in the future. Wondering where to start? Ask yourself these four questions.

 

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

Which Benefits Do Millennials Want? Health Insurance, For One

Which Benefits Do Millennials Want? Health Insurance, For One

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.

Forget ping pong tables and nap pods. Millennial workers want health insurance.

Millennial turnover is a challenge for many businesses. They’re the generation most likely to change jobs, Gallup found, with a whopping 60 percent of millennial workers open to new job opportunities. But luckily, your company doesn’t need to invest in an on-site kombucha bar to attract young talent.

As it turns out, the number one benefit millennials want is health insurance. Data shows that half of millennials have been hit with unexpected medical bills. This relatively traditional offering could be what sets your company apart.

Already offer health insurance? Here are four other employee benefits millennials want.

Credit cards have changed the way we pay for everything, but 50 percent of Americans can’t understand their credit card agreements and many of them are drowning in debt. Here’s how you can help.

Open enrollment is still a few months away, but that doesn’t mean workers can’t start preparing to get the most out of their benefits. Learn where to focus.

Focusing on financial wellness boosts retention. The vast majority of financial executives (82 percent!) believe their company would benefit from having a financially secure workforce. What are you waiting for?

Unlimited vacation doesn’t work for everyone. Global aviation strategy company SimpliFlying implemented a mandatory vacation policy instead that increased creativity, happiness and productivity.

Your employees need a financial plan. In fact, according to a Schwab Center for Financial Research survey, 54 percent of people with a written financial plan increased their 401(k) contributions in the past year. Help them get started.

The key to workplace wellness is empathy. That means offering benefits that recognize the different backgrounds and needs of your employees. Family health and financial wellness are good places to begin.

U.S. employee engagement programs are falling short. According to Gallup, only 33 percent of U.S. employees are engaged at work and there are two reasons why.

Is your office going to the dogs? With more than one-third of Americans owning pets, it’s not surprising that some companies are using pet-friendly benefits to attract employees. Here are some pros and cons.

Graduates have more student loan debt that ever before. While only 4 percent of employers currently offer student loan repayment assistance, these benefits could help attract and retain talent. Are they right for your employees?

 

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