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.
When it comes to money and stress, women and men are not created equal.
Women make up roughly half the U.S. workforce, but female employees often feel financial stress differently from men. Studies show that women will often have more financial stress than men, causing other issues. Moreover, today’s female employees often deal with stress in other parts of their lives, as well as the stress of doing more than their spouse or partner at home.
In her recent post for Shortlister, Best Money Moves Founder and CEO Ilyce Glink took a hard look at how workplace stress, homelife stress and financial stress affect female employees – and what their employers can do to help reduce their levels of stress.
Financial education begets financial wellness. Seventy percent of your Millennial employees say they’d welcome financial planning assistance through their employer. Nearly 50 percent of the rest of your employees feel the same. The numbers are staggering – budgeting assistance, education on saving for retirement, guidance on personal finances – it would all be welcome. Your employees aren’t asking for higher salaries, they simply want assistance in managing the money they earn. Employee financial wellness is so easy to obtain – with just a little help from Human Resources.
Investing in employee wellness, engagement and development. Target employees are now seeing a minimum wage of$12 an hour, up $1 from 2017. In two years’ time, Target’s minimum wage will hit $15 an hour and that’s on top of the other benefits they offer, including tuition reimbursement, free counseling services, a leadership program, product knowledge, service skills training and merchandise discounts. Why should your company invest in your employees’ overall wellness?
Are you exhausted as well? Your employees may be more tired than usual this week, after losing an hour to daylight savings time. Losing just one hour of sleep isn’t small potatoes, as it can cause fatigue and create safety hazards, both at work and while commuting. Here’s how you can help:
Are these family-centric benefits ahead of the times? Dollar General announced that it will start offering paid parental leave and financial assistance towards adoption – for full time and part time employees. Has your company caught up with the new benefits standard?
Is high interest debt causing you – or your employees to lose sleep? If you’re consistently making payments but not seeing any progress in paying them down, it can be tempting to take a loan from your retirement plan to pay it off. But, should you?
Tax identity theft: What you need to know. Over the past few years, the IRS has cracked down on fraudulent tax returns. But it still happens – and can feel devastating when it does. Here’s what you can do to prevent it now and in the future, and what to do if you happen to become a victim.
Technology is reshaping Human Resources. HR departments are fundamentally changing how they operate due to emerging and innovative technology and tools. Let technology help you reach your department’s objectives – and have fun while you do it!
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