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.
Are you looking for a way to turn your employees’ financial stress into financial wellness? Giving them actionable information may just be the ticket – and it’s your lucky month!
This month marks the 18th April in a row to celebrate Financial Literacy Month. Originally promoted by the Jumpstart Coalition as an evolution from the National Endowment for Financial Education’s Youth Literacy Day in 2000, Financial Literacy Month has come a long way. Reaching from family living rooms to high school classrooms and into corporate boardrooms, decision makers across the spectrum are taking this opportunity to implement conversation, educational programming and benefits plans to meet this important need among people at every age, position and income level. And at the end of the month, the Federal Reserve Banks across the country will celebrate Money Smart Week, where tens of thousands of free money classes will be offered in more than 100 languages.
Read through the Huffington Post’s collection of articles highlighting the importance of financial education and financial wellness during April’s Financial Literacy Month, here:
It’s common knowledge that financial stress is the leading cause of lost productivity, unplanned absences and greater distractions among employees. More than half of your employees say that they want their employers (you) to provide financial literacy education in order to boost their own financial wellness. Let Financial Literacy Month help you to help your employees in order to get everyone on the right track to their own financial wellness.
Don’t forget: there’s not one down side to employee financial wellness. What are you waiting for?
Reduced financial stress may reduce health care costs. Financial wellness and physical wellness are directly linked – so, it makes sense that providing financial wellness programs for your employees will inevitably reduce company healthcare costs. And, shouldn’t you apply the same “healthcare metrics” used to track our health – to our money behavior as well?
When was the last time your company invested in upgrades for its employees? Far too often, employee wellness benefits miss the mark when it comes to blue-collar workers. And these dedicated employees are missing out. Hilton and Hyatt Hotels recognize the importance of investing in all ranks of its employees, both full and part time.
Despite the rumors, your millennial employees are pretty good savers. Unfortunately, they still don’t know how to properly invest their savings funds. Approximately 42 percent of millennial employees aren’t investing enough for retirement. Here’s why.
Human Resources departments are being digitized – on a massive scale. And, they’re incorporating everything from metrics to contests to training. Here’s a list of the fastest growing, most transformative and innovative HR tech trends.
Yes, it’s still tax season. Thirty-seven percent of young people rely on their parents to file their federal and state income tax forms. If your population is heavily Millennial, they could be distracted this month by the upcoming April 17th deadline. Point them in the direction of IRS.gov for their free file help. And, Money Magazine has a few good last minute thoughts, too.
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