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Help Your Employees Get More Sleep!

Help Your Employees Get More Sleep!

by | May 16, 2018 | Blog

A toxic workplace creates insomniacs.

A recent study from the American Psychological Association found that workplace incivility  – like verbal abuse – increases insomnia in employees.

Since 98% of U.S. employees have experienced some form of hostile behavior in the workplace, it’s a serious problem. Lack of sleep is also linked to health issues like cardiovascular disease, increased blood pressure and fatigue. To address unnecessary drama at work employers should tackle it on both a company level and an individual level. Processes should be in place that foster a positive work environment and that address workplace hostility directly when it happens. At the individual level, training that improves emotional resilience and mindfulness will help employees recharge and learn how to communicate more effectively.

Employees that are fully rested are healthier, less likely to make mistakes and more productive overall.

IRS Enforces Employer ACA Mandate. The individual Affordable Care Act mandate is dead, but the employer mandate is still active and thousands of businesses are receiving penalties. Will your company be affected?

Commercial Insurance Rates on the Rise. With the exception of workers compensation most commercial insurance lines saw an increase in premiums.  See the full stats here.

Success Strategies for a Remote Workforce. Since 2005 remote work has grown 115%, but employers are still struggling to find strategies that make it effective. Here are some solutions.

More Company Benefits Over Raises. Research shows some employees would rather have more work-life balances than a raise. See more survey results here.

Shake Up Your Interview Process. Interviews are awkward for everyone involved. The traditional method might be masking potential employee’s true strengths. Here’s why.

Financial Stress is Still Increasing for Americans. The American Psychiatric Association released the results of their annual poll showing a 5 point spike in national anxiety. More poll results here.

Upskill Your Employees. As technology continually develops forcing changes in job functions companies should consider helping employees gain skills versus onboarding new employees. Find out why.

Does Your Company Offer Mental Health First Aid? In addition to expanding on employee wellness programs some companies are also taking the initiative to give employees skills to help others in a mental health crisis. See if it’s something you should consider.

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

Helping Employees Get Smarter About Money

Helping Employees Get Smarter About Money

by | May 9, 2018 | Blog

Your employees need help!

When asked to grade their financial literacy on a recent Equifax consumer survey 33% of consumers 18-29 gave themselves a ‘C.’  Ninety percent agreed there was a need for more personal finance education.

The results of this survey indicate that your employees lack confidence in their ability to manage their own money. By providing resources employees can utilize to improve their financial know-how you accomplish more than just boosting morale – you improve productivity. And by demonstrating you’re sensitive to the issues they face which improve retention.

Resources that help employees understand financial topics like credit scores, credit cards, debt repayment, budgeting, and student loans can make a big difference to your employees and to your company.

FSA and HSA Use Increases to Meet Employee Financial Wellness Needs. Flexible spending accounts (FSA) and health savings accounts (HSA) help employees prepare and pay for healthcare expenses. Here are their benefits and differences.

Rethinking Internal Memos in Social Media Age. Before you hit send on any internal communication consider how the public might react. See the list of what not to do.

Employee Wellness Expansion. In the next 3-4 years 67% of companies plan to expand employee wellness programs to include stress management and financial wellness. See what else is in store.

Self-Funded Health Insurance. Smaller employers are reducing costs, gaining plan flexibility, and keeping employees happy by self-funding health insurance.  See if it’s a viable option for you.

Lowest Unemployment Since Clinton Administration. The April jobs report indicates that unemployment might soon fall below 4%, the lowest it’s been since 2000. Here’s what the experts say.

Legislature Proposed in NYC to Give Employees Right to Disconnect. Most employees have access to their work from their devices and as a result often find themselves doing work from home. A bill proposed in NYC aims to limit communications after work hours to maintain separation between work and home life. Find out more.

Include Managers in Wellness Program Decisions. Employee engagement in company sponsored wellness programs remains low. Research suggests managers are the key to increasing employee engagement. Here’s how.

Is your employee compliance training effective? Harassment and discrimination compliance training is shifting towards an ongoing process that is evaluated and refined so that it becomes an active part of cultivating company culture. Learn more.

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

Will Increasing Financial Literacy Reduce Overall Financial Stress?

Will Increasing Financial Literacy Reduce Overall Financial Stress?

by | May 2, 2018 | Blog

Financial Literacy Can Reduce Overall Financial Stress and Increase Financial Wellness, Survey Says

Nearly 90 percent of Americans believe financial literacy courses should be a high school graduate requirement. An annual consumer survey highlights growing concerns about financial stress. The survey, which was conducted by Equifax, follows a 2017 American Psychological Association study that found money to be one of the top stress-inducing concerns for Americans.

When consumers from the Equifax survey were asked to grade themselves on their basic level of financial literacy, only 39 percent of surveyed consumers gave themselves a “B”, while 33 percent of consumers between the ages of 18-29 gave themselves a “C.”

Because so few Americans get financial literacy classes in high school, Equifax will make financial information and education more accessible to its consumers. Dann Adams, president of Global Consumer Solutions at Equifax, said the company will provide “the fundamentals and basic credit essentials to help consumers establish the right habits early on.”

“We want to help consumers get to an ‘A’ grade, which is why we’re studying and offering new ways to help them improve their financial literacy grade,” Adams added.

Should Financial Literacy Be Required For Graduation?   

Currently, each state sets its own requirements for high school graduation, although there are federal guidelines. While few states currently mandate financial literacy, some 30 percent of states are already looking for ways to incorporate financial literacy into high school curriculum.

What Are Results of Financial Literacy Education?

In schools where a full semester of financial literacy was required a FINRA Investor Education Foundation report card showed significant improvement in credit scores for young adults aged 18 to 22. A separate study conducted by Ohio State University’s Center for the Study of Student Life found that students who had completed financial literacy courses are less affected by financial stress.

What If Your School Did Not Offer Financial Literacy Education?

While more students in the future will likely receive financial literacy education, what about adults? “Consumers often think that because they didn’t do well in high school math, that they can’t manage their finances, but that’s just not true,” said Ilyce Glink, CEO of Best Money Moves, a mobile-first financial wellness app that helps people measure their level of financial stress.

“I believe that everyone can do about 95% of whatever they need to do with their money themselves. You don’t need a professional to help you figure out a budget or shop around for car insurance to get the best deal. You can easily learn to implement those cost-saving and financial management strategies yourself,” she said.