In the Best Money Moves Roundup, we run down the latest news on employee benefits, retirement and workplace legislation.
The Society for Human Resource Management’s annual survey tracks trends in employee benefits. Here are our top 3 takeaways from SHRM’s 2017 report:
- Wellness benefits work. Most employers agreed that their wellness program reduced healthcare costs and improved employee health.
- Standing desks take the cake. Standing desks have increased 30% over the past 5 years. It is the highest increase of the 300+ benefits included in the survey!
- Flexibility is attractive. More flexible work arrangements – like casual dress and telecommuting – were ranked one of the most effective recruiting strategies.
Now is the perfect time to evaluate your current benefits. Do your wellness benefits meet the needs of your employees? Do you have a financial wellness program? No time like the present to take a look at what’s working and what your employees value most.
Employers can now bar worker class-action lawsuits. The U.S. Supreme Court ruled that employers can enforce arbitration agreements signed by workers, even if those accords bar group claims. Read more about the ruling and if it’s relevant to your company.
Could zero-based budgeting work for you? Some companies are switching to a zero-based budgeting approach to sustain a lower cost structure. See if your organization could benefit from ZBB.
ROI for supporting breastfeeding moms. Employers who invested $1 on a supportive environment for breastfeeding mothers saved $3 on average. Find out why it’s worth the investment.
401(k) contributions at a record high. Information reported from the first quarter of 2018 shows just how important 401(k) benefits are to employees. How this record could be attributed to workplace managed accounts.
Amazon’s “Pay to Quit” program. Once a year Amazon offers full-time associates up to $5,000 to leave the company. Why it’s working for them.
Social media use at work lowers retention. It isn’t killing productivity like employers think it is, but instead social media use at work exposes employees to other opportunities which can lower retention. Here are some solutions.
High workplace drug use. Findings from more than 10 million drug tests showed the highest rate of drug use in the workplace in over a decade. See the full results breakdown here.
Benefits of break time. Regular downtime helps employees be more productive and think outside of the box. Find out how it works.
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