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.

LendEDU Finds Student Debt is Down, But Financial Stress is High

LendEDU Finds Student Debt is Down, But Financial Stress is High

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.

For new graduates entering the workforce, student debt is still a major cause of financial stress.

The average student debt per borrower for the Class of 2016 is $27,975, according to LendEDU’s second annual Student Loan Debt by School by State report. That number is actually down 1.5 percent from 2015, but it isn’t quite enough to lift the stress from graduates starting their careers with significant student debt.

The five states with the highest average student debt per borrower are probably not what you expect. Most of them are on the East Coast, and for all of them, the proportion of graduates who carry student loan debt is 60 percent or higher — some even reaching as high as 75 percent. Take a look:

  1. Pennsylvania
    ($35,185 average debt per borrower, 69 percent of grads have student debt)
  2. New Hampshire
    ($35,143 average debt per borrower, 75 percent of grads have debt)
  3. Delaware
    ($33,650 average debt per borrower, 63 percent of grads have debt)
  4. Connecticut
    ($32,326 average debt per borrower, 60 percent of grads have debt)
  5. South Dakota
    ($31,518 average debt per borrower, 75 percent of grads have debt)

It would be easy for employers to read the headline “student debt is down” and think of it as good news — and it is. But looking more closely at the numbers, it’s clear that student debt is a serious problem that’s not going away anytime soon. Shouldering the burden of student debt impacts your employees’ stress levels — and overall well-being — every single day.

Understanding your employees’ financial needs is the first step to helping them overcome these hurdles and stay more focused, productive and happy at work.

Financial stress is the top cause of lost productivity. Shifting the perspective of your employee benefits program to address it isn’t just good for employees, it’s good for business.

It’s almost time to make big decisions about your 2018 benefits offerings. While the possibility of health care reform generates a lot of uncertainty among today’s workforce, there are ways you can prepare them for the long term.

College costs are increasing far faster than income growth. It’s no wonder that students struggle to pay off hefty student loan bills for years afterward. Luckily, parents can help.

Voluntary benefits are growing in popularity, but many employees don’t really know or understand the options available.  Five ways to educate your team.

Is your company “aging-friendly?” Almost 70 percent of employers believe their employees won’t be able to afford to retire at 65. It’s time to adapt to your older employees’ needs.

Language training improves employee engagement and retention. Research shows that 70 percent of employees with language training feel more confident in their work and interactions with their teams. Is it right for your employees?

Nearly 30 percent of the U.S. population is responsible for the care of a family member. A survey by Northeast Business Group on Health and AARP ranked caregiving as one of the top 10 employee health and wellness benefits priorities for employers. Here’s how you can assist those who assist.

Are your employees leaving money on the table? Among employees who participate in 401(k) programs, roughly one in five don’t take advantage of their full employer match. That missing money adds up.

Not all states are created equal when it comes to health care. A new report from WalletHub, 2017’s Best and Worst States for Health Care, compares states across three areas: cost, accessibility and outcome. Where does your state rank?

 

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