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.
How old-fashioned is your parental leave policy?
Let’s start with what you call it. “Maternity” coverage is a last-century term. The preferred term is either “parental leave” or “family leave.” And while 86 percent of employees in the U.S. don’t have access to paid parental leave, companies are starting to understand that generous parental and family leave policies can boost reputation, attract new employees and increase both employee productivity and retention.
Young workers, in particular, place a lot of value on both paid parental leave and workplace flexibility around parenting issues. And not just the female portion of your workforce. Since 78 percent of millennials are part of a two-career couple, policies that honor both partners’ professional and parental needs are vital.
Implementing leave policies that don’t recognize the needs of modern workers can get in the way of your company’s recruitment goals.
Seventy percent of American workers aren’t engaged with their jobs. Trendy benefits won’t solve a deeper problem with morale. Here’s what will.
Three out of four Americans support raising the federal minimum wage. Higher wages are known to improve customer service, increase productivity and reduce employee turnover.
Only 20 percent of millennials are satisfied with their financial health. That’s significantly lower than the overall population. Here’s why.
Is your financial wellness program too focused on retirement? Short term financial goals are a top concern, especially among young employees.
Do you need a break? A generous vacation policy can have a positive impact on your workplace. See the report.
Communication is key. In fact, managers with poor communication skills are the number one reason employees leave. Listen better.
Understanding your workforce demographic is vital to recruiting and retaining great talent. Craft a benefits package that appeals to your multigenerational employees.
Eighty percent of older women can’t pass this retirement quiz. That’s especially troubling since women tend to live longer and accumulate higher healthcare costs.
A good company culture can mean the difference between employees sticking around and moving on to greener pastures. So be careful: not every trendy benefit is a good cultural fit.
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