Figuring out how to save for retirement causes financial stress for your employees.
A recent survey suggests many are feeling OK about their retirement savings — but they’re not feeling great or that they can stop saving for retirement but still be okay when retirement day arrives.
The 27th annual Retirement Confidence Survey from the Employee Benefits Research Institute found that six out of 10 employees are very or somewhat confident about their ability to afford a comfortable retirement, but only 18 percent are very confident.
Still, three out of 10 employees say thinking about saving for retirement causes them to feel financial stress. Another three in 10 say they think about this financial stress at work and about half say it makes them less productive in the office.
The financial stress caused by wondering whether you’re saving enough money for retirement is a big issue for employers, because it diverts employees’ attention, causing a reduction in retention, engagement and productivity – especially if their existing retirement or financial wellness programs aren’t working to fix the problem.
Where did your employees learn how to manage their finances? While many – about 43 percent – say they learned about finances from their parents, almost 17 percent say they only learned these important lessons after facing financial hardship and about 3 percent were never taught anything about managing their finances. It turns out that not learning these lessons well has a big impact on debt.
How many of your workers struggle with financial stress? The answer could be more than you think! Learn how it’s impacting your employees’ lives.
Building a budget is the first step toward “adulting,” but it’s one Millennial employees struggle with. Here are some of the budgeting questions they’re asking Best Money Moves Founder and CEO Ilyce Glink.
Does your state require paid sick leave? Those laws could be changing soon in six states where legislators are considering bills to make this employee benefit a requirement. Is your state on the list?
Now THAT’s how you show employee appreciation! Porsche announced last week that they’re rewarding 21,000 employees with significant bonuses after the company had a particularly successful year in 2016. Here’s what the company’s executives had to say about the initiative.
Your office’s chairs are hurting your employees’ health. The average American worker spends about 12 hours a day sitting. Why sitting is the new office health epidemic.
PowerPoint presentations for employee training don’t cut it anymore. Employees want interactive learning solutions – not lengthy presentations in a conference room. How to transform your corporate learning program.
Bigger companies offer better retirement plans, right? Wrong! An analysis of 500,000 company 401(k) plans found that small companies’ plans actually perform better than those at large companies. See who has the best-performing plans.
The whole point of offering employee benefits is to reduce stress, whether it’s about retirement, healthcare or debt. Check out seven wellness benefits to maintain your employees’ zen.
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