Open enrollment has officially begun. Chances are, you’re a little overwhelmed and your employees are a little confused — but the news isn’t all bad. Making open enrollment easier (and hopefully a bit more fun) for your employees means finding a way to engage your team in meaningful conversations about their needs and show them all the exciting benefits you have to offer.

Try getting creative to juice the “fun” part of the month!

• Host a benefits fair in the last afternoon or early evening and encourage your employees to bring their significant others so they can get their questions answered and make important benefits decisions togther.
• Create posters and flyers, and then hang them around the office.
• Don’t just post information on your company’s website; bring your message into the physical work environment.
• Incorporate your important and popular benefits, like health insurance and  retirement options into presentation but spend time on new or unique perks you offer, such as flex time, free snacks, wellness (or financial wellness!) programs, pet-friendly spaces and student loan repayment plans.

Open enrollment is also a good time to see how your employees are utilizing and responding to the benefits they already use. Take a look at which benefits  are doing well and which are underutilized Pay attention to your employees’  suggestions, and consider refining their feedback for the future.

Here are some other suggestions that can help you make open enrollment easier and more fun.

Which benefits do your millennial employees really want? Millennials have been entrenched in the  workforce for quite a while now, but many employers can’t figure out how to convince them to stick around longer than a year or so.  Here’s what Vlad Gyster, Founder and CEO of Airbo and Janet McNichol, HR Director of ASHA, had to say.

Your employees don’t feel financially secure about their retirement. A recent study by Northwestern Mutual found that 58 percent of U.S. adults cited health care as their chief retirement concern, which is a 13 percent increase from the previous year. Learn more.

Many millennials don’t understand how to build a budget. That’s a big problem, especially since people in this generation are frequently saddled with thousands of dollars in student loan debt. Regardless of age, studies show most workers want help from their employers learning about money. Here are some financial questions your young employees might ask.

News on 401ks! As tax reform winds its way through Congress, 401k are said to be targeted for significant changes. One proposal reduces the amount of money an employee can stash away in a 401k plan tax-free from $18,000 per year ($24,000 if you’re over the age of 50) to less than $3,000. Best Money Moves believes that maximizing a 401k, which is a benefit most employers are already providing, is one of the best things employees can do to stabilize their finances and reduce financial stress around retirement. We’ll keep you updated on the latest discussions around 401k plans in the upcoming tax reform bill.  

How can a digital and holistic wellness program help you improve the lives of your team members? When employees have 24/7 access to tools and information right in the palm of their hands and employers are getting real-time data, everyone wins.  See the other ways digital wellness solutions are changing things for the better.

Why is financial wellness more important than ever? According to Bill Chetney, founder of GRP Advisor Alliance, it’s because 64 percent of workers couldn’t even cover a $1,000 emergency without going into debt. Learn how financial advisors are joining this important conversation.

Your employees want help coping with stress. More than 75 percent of workers in a recent Harris Poll online survey said they consider resiliency programs valuable, but only 25 percent of workers said their employers offer them. Could a stress reduction program work for your people?  

People aren’t spending enough time considering their benefits. In fact, according to a recent Prudential study, 23 percent of employees spend less than 30 minutes thinking about the perks offered by their employers. Here are five ways to change that.

Are your employees fighting anxiety? Often overlooked, anxiety can have a major effect on your employees’ stress levels, negatively impacting productivity, health care costs and employee retention. Here’s how you can help.

Are you using the latest HR Tech? Technology is always changing, but some trends were everywhere at the annual HR Tech Conference in Las Vegas. Check out the top 10 HR tech trends.

Have something to add? Email info@bestmoneymoves.com.

How old-fashioned is your parental leave policy?

Let’s start with what you call it. “Maternity” coverage is a last-century term. The preferred term is either “parental leave” or “family leave.” And while 86 percent of employees in the U.S. don’t have access to paid parental leave, companies are starting to understand that generous parental and family leave policies can boost reputation, attract new employees and increase both employee productivity and retention.

Young workers, in particular, place a lot of value on both paid parental leave and workplace flexibility around parenting issues. And not just the female portion of your workforce. Since 78 percent of millennials are part of a two-career couple, policies that honor both partners’ professional and parental needs are vital.

Implementing leave policies that don’t recognize the needs of modern workers can get in the way of your company’s recruitment goals.

Seventy percent of American workers aren’t engaged with their jobs. Trendy benefits won’t solve a deeper problem with morale. Here’s what will.

Three out of four Americans support raising the federal minimum wage. Higher wages are known to improve customer service, increase productivity and reduce employee turnover.

Only 20 percent of millennials are satisfied with their financial health. That’s significantly lower than the overall population. Here’s why.

Is your financial wellness program too focused on retirement? Short term financial goals are a top concern, especially among young employees.

Do you need a break? A generous vacation policy can have a positive impact on your workplace. See the report.

Communication is key. In fact, managers with poor communication skills are the number one reason employees leave. Listen better.

Understanding your workforce demographic is vital to recruiting and retaining great talent. Craft a benefits package that appeals to your multigenerational employees.

Eighty percent of older women can’t pass this retirement quiz. That’s especially troubling since women tend to live longer and accumulate higher healthcare costs.

A good company culture can mean the difference between employees sticking around and moving on to greener pastures. So be careful: not every trendy benefit is a good cultural fit.

Have something to add? Email info@bestmoneymoves.com.

Are the employee benefits you offer helping workers beat the summertime blues?

Benefits that promote a positive work-life balance are proven to boost mood, engagement, productivity and employee retention.

Employees value employers who help them create space in their lives for family, fun and relaxation. Excluding salary, a good work-life balance is the top consideration for millennial job-seekers, according to Deloitte’s 2016 millennial survey.

Not all perks make sense for all workplaces. Listen to your employees and learn which employee benefits would make their lives easier this summer.  While some companies offer summer-specific rewards, others benefit from extra work-from-home flexibility or childcare assistance for stressed parents.

Build your employee benefits package around your employees’ well-being.

Twenty-five percent of millennials would love to quit their jobs. One hiring manager knew the typical office perks weren’t working. Here’s what she did.

More Americans are living paycheck to paycheck than ever before. Luckily, there are strategies companies can use to help relieve employee financial stress.

Identity theft and fraud are becoming more common – and more stressful. Your employees would certainly appreciate your understanding if they’re facing these issues, but they can also use your help. Provide the right resources.

It’s time to listen to your team. Conversations with employees take time, but hiring new people takes even more. Ask these three questions.

Not all press is good press. According to a new CareerBuilder survey, 71 percent of workers would not apply to a business with bad publicity. Boost  your image.

Part-time workers lack employee benefits and it’s making them vulnerable. Providing access to voluntary benefits programs could help relieve financial stress. Learn more.

Are your employees retiring? The U.S. Bureau of Labor Statistics predicts over-65s will be the fastest-growing workplace demographic, and that presents a challenge for businesses. Where this leaves employers.

Job seekers have more options than they used to, which is why attracting quality workers goes beyond offering competitive salaries and standard benefits packages. Recruit top talent.

Give credit where credit is due. Want to keep your employees happy? Don’t take credit for their work.

Have something to add? Email info@bestmoneymoves.com.