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.
Unlike generations before them, your Millennial employees are burdened with an extra load of student loans. Not surprisingly, they’re significantly more financially stressed than their colleagues.
How stressed? Your Millennial employees spend more than 12 work hours per month fretting about their personal finances.
According to new findings from Bank of America Merrill Lynch’s 2017 Workplace Benefits Report Millennial Supplement, Millennials are actively looking to you, their employer, for tools they can trust, educational resources, support and guidance across the financial wellness spectrum. They want employers to provide access to a variety of financial wellness tools, including a mobile-first technology and access to a financial professional who can offer tailored training, personalized action plans and teach financial strategy.
More employers are beginning to understand the direct connection between employees’ financial stress and lowered productivity, poor retention, unexplained absences, and higher costs of healthcare. They’re paying attention to their employees who are asking for a best-in-class solution and are providing outstanding resources. Are you listening to your employees?
Should you allow holiday shopping at work? The experts say “yes.” This year’s Cyber Monday (the internet’s version of Black Friday) is set to be the most lucrative shopping day in history. Instead of policing, try providing practical guidelines for your team. Create a realistic security and productivity plan.
Virtual reality is already at an office near you. Are you and your employees ready for the impact of 100% immersion? From non-profits to real-estate, customer service calls to job interviews – VR technology will become commonplace before you know it. See how VR technology can benefit your company.
Reverse mentoring just may save your career. Whether formal or informal, reverse mentoring is exactly as it sounds and is meant to expand people’s skill sets and networks. Bring a thought leader on board, pair mentors and mentees appropriately and get to work! Learn how to start your new program here.
Is work stressing you out? The symptoms of stress can appear suddenly and seemingly without cause. There are over 50 diagnosable signs and symptoms to watch out for and having a basic understanding and awareness can help you and your employees feel better while working better. Help your employees be happier, healthier and more productive.
Are you up to snuff on the local culture of your international teams? Bilingual does not always translate to bi-cultural. Don’t underestimate the importance of having cultural awareness in the global workplace and how it can benefit your company. Learn how to implement intercultural competence here.
Disaster preparedness goes well beyond emergency exits. Climate change affects not just the weather around us but also the ability to safely commute to and from work. If your team can’t trek through unexpected floodwaters or 5 feet of snow, should their salary be deducted? What would you do?
Open floor plans are a sign of hip, hi-tech and elite office culture – and are making your employees miserable. A new study by the BBC claims that “free range” employees are more likely to be unhappy, get sick, be less productive and miss more work. Facilitate productivity and reduce distraction here.
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