employee wellness Archives

Reducing Employee Burnout During the COVID-19 Pandemic

by LizStevens | Sep 15, 2020 | Blog

Reducing employee burnout during the COVID-19 pandemic. What’s driving employee burnout during COVID-19 and what employers can do about it.

Employee burnout has skyrocketed to 58 percent, according to research by Eagle Hill Consulting. It’s up from 45 percent in the early days of the pandemic and over a third of workers attribute their burnout to circumstances related to COVID-19, up from 25 percent in April.

“This level of burnout is problematic and could increase as millions of employees continue to work from home, and many schools remain unable to fully open. We’re in this pandemic for the long haul, and employers have got to find a way to make workloads sustainable for employees and better equip managers to lead. Otherwise, companies risk harming their bottom line and brand,” said Melissa Jezior, president and chief executive officer of Eagle Hill Consulting.

Reducing Employee Burnout During the COVID-19 Pandemic

These are the top five drivers of employee burnout during the COVID-19 pandemic that Eagle Hill Consulting identified in their recent research:

47 percent of employees say their burnt out from their workload.
39 percent say it’s from balancing work and their personal life.
37 percent say it stems from a lack of communication, feedback and support.
30 percent say they’re under time pressures and expectations are unclear.
28 percent point to performance expectations.

Research from Yale University found that employees experiencing burnout reported high demands and high resources while employees who were ‘optimally’ engaged reported low to moderate demands and high resources. ‘Optimally’ engaged employees had support from their supervisors through rewards and received recognition without having to struggle with cumbersome bureaucracy, demands for concentration, or heavy workloads.

Many organizations are adapting to remote workforces during the pandemic and it’s important that they manage their expectations during the transition and provide workers with resources they need to thrive in a work-from-home environment.

Employers that want to reduce the negative impact employee burnout has on productivity, employee engagement, job satisfaction and rentention should monitor workloads and common signs of burnout (exhaustion, frustration, anxiety, inability to keep up with daily tasks) to find out when it’s time to dial demands back and expand resources. The addition of wellness programs can ease stress and help employees better maintain a work-life balance, but if demands are too high employees will still burnout.

Preparing for Virtual Open Enrollment in 2020

by LizStevens | Sep 9, 2020 | Blog

Preparing for virtual open enrollment in 2020. How employers can utilize employee data and streamline communications for successful virtual open enrollment.

Employers are preparing for virtual open enrollment as many employees continue to work remotely during the COVID-19 pandemic.

It’s more important than ever that employees make informed decisions about their benefits because many organizations have been forced to make significant changes to their benefit plans as they face new economic uncertainty. But that doesn’t mean they will. A survey by MetLife found that employees dread open enrollment almost as much as going to the DMV to renew their driver’s license and 20 percent of them spend only a few minutes reviewing benefits plans before making a selection.

In order to reduce unnecessary costs and ensure that employees enroll in the programs that best suit their needs, employers need to utilize employee data and streamline benefits communications for successful virtual enrollment.

Preparing for Virtual Open Enrollment in 2020

Managing Costs While Meeting Needs

Employers are walking a fine line as they strive to lower program costs while still meeting the needs of their employees.

Their primary challenges when it comes to healthcare cost-management are the high cost of medical services (67 percent) and specialty drugs (47 percent), according to research by Gallagher. In an effort to reduce unnecessary costs, employers are conducting audits of plan eligibility (18 percent) and claims (15 percent), as well as considering narrow provider networks (14 percent), designated centers of excellence (10 percent) and integrated health and disability management programs (9 percent).

COVID-19 has also accelerated a trend towards telemedicine as a cost-control tactic. Telemedicine provides employees with socially-distanced care options and is often less costly than standard office visits or trips to emergency rooms and urgent care facilities.

Utilizing Employee Data and Streamlining Communications

Nearly 65 percent of employers use employee-initiated feedback and 45 percent rely on satisfaction and engagement surveys to measure their communication success. Gallagher encourages employers to take a closer look at the data they have at their disposal, like web analytics and portal visits to determine what’s working and what isn’t.

When it comes to communicating for successful virtual open enrollment, employers should focus on sending smaller bite-sized benefits communications that employees can more easily digest, rather than overwhelming all-in-one emails that they’re likely to just skim, if they read them at all. It will also help to clearly identify who employees can reach out to with any questions about programs or offerings.

Open enrollment is just as stressful for employees as it is for employers and moving it fully online inevitably creates some challenges. Sending less bulky communications that break down the process without complicating it will help employees pay closer attention and enroll in the benefits that they can use most.

HR Trends 2021: Which Benefits Do Employees Value Most?

by LizStevens | Sep 1, 2020 | Blog

HR trends 2021: which benefits do employees value most? Employees want benefits that better support their health and wellness after the COVID-19 pandemic.

Benefits priorities are shifting considerably due to the COVID-19 pandemic.

Only 55 percent of employees believe their company is making the best decisions about their benefits, according to new research by The Hartford. Just 44 percent think their benefits package is above average compared to what other employers are offering.

“The pandemic has put pressure on the American workforce in ways few could have predicted and employees need support more than ever,” said Jonathan Bennett, head of Group Benefits at The Hartford. “Now is the perfect time for employers to address employees’ changing attitudes about benefits.”

HR Trends 2021: Which Benefits Do Employees Value Most?

These are the benefits and services that employers are adding to bring their benefits plans closer to their employees’ values:

Employee Assistance Programs (EAP) (56 percent)
Paid Time Off (52 percent)
Wellness Benefits (51 percent)
Behavioral/Mental Health Services (51 percent)
Critical Illness Insurance (50 percent)
Hospital Indemnity Insurance (48 percent)
Paid Time Off for Volunteering (42 percent)
Student Loan Repayment Plans (38 percent)
Paid Sabbatical (38 percent)
Pet Insurance (29 Percent)

Many of the most highly sought after benefits are centered around employee health, including their physical, mental, financial health as well as the health of their loved ones and their communities. Health and wellness has been an HR trend for quite some time but the COVID-19 pandemic has shown that the employee demand for these types of benefits is as strong as ever.

The Importance of Benefits Communication

More employers are recognizing how important communication is to the success of any benefits program. Up from 63 percent at the start of the pandemic, 69 percent of employers told The Hartford they’re mostly or fully responsible for making sure employees understand the benefits offered.

In other surveys, employees have admitted that they don’t understand all the benefits their organization offers or that the programs available don’t meet their needs or are too difficult to understand.

Employers can improve benefits communication in three steps:

Send shorter, bite-sized benefits communications over a longer period of time rather than the traditional method of dumping it in an employee handbook or an annual employee benefits email.
Test different methods of communication, like text messaging, phone calls and instant messenger in addition to emails or meetings.
Track participation, open and click rates to see which method is the best way to reach your employees.

It’s not enough to follow the latest HR trends and make changes accordingly, employers need to work with their employees to determine what benefits are most valuable to them, which programs fit their needs and how they can make it easier for them to access their benefits.

COVID-19 Retirement Impact: Early Withdrawals and Reduced Contributions

by LizStevens | Aug 26, 2020 | Blog

COVID-19 retirement impact: early withdrawals and reduced contributions. How employees are using their retirement savings during the coronavirus pandemic.

Retirement savings were identified as a source of financial relief in the thick of the coronavirus pandemic when the CARES Act expanded distribution options and favorable tax treatment for up to $100,000 of coronavirus-related distributions from eligible retirement plans.

Luckily, only 2.8 percent of employees made an early withdrawal during the first half of the year, according to research by the Investment Company Institute.

“We see a slight increase in withdrawal activity following the onset of economic volatility and hardship, but the increase is much smaller than you might expect, given the severity of the COVID-19 economic downturn,” said Sarah Holden, ICI senior director of retirement and investor research.

Retirement contributions, however, weren’t as fortunate. Over half of employees changed their retirement contributions or plan to do so soon, with 23 percent already contributing less, according to research by MassMutual.

COVID-19 Retirement Impact: Early Withdrawals and Reduced Contributions

Employees told MassMutual these are the primary reasons they’re making changes to their retirement contributions:

54 percent reduced contributions to have more cash on hand
22 percent plan to contribute more to take advantage of market fluctuations
24 percent plan to contribute the same amount but change their risk exposure

Nearly 40 percent of employees recognize that they need to make saving for an emergency a priority because they found themselves unprepared for the pandemic. Reducing retirement contributions could allow them to start building the emergency savings funds they need.

Another survey by Freedom Debt Relief at the start of the coronavirus pandemic highlighted the financial obligations employees were most concerned about:

45 percent worried about missing rent or mortgage payments
38 percent worried about missing utility payments
30 percent worried about missing health insurance premiums or student loan payments
36 percent worried about carrying a balance on their credit card for groceries
21 percent worried about carrying a balance on their credit card for utilities
18 percent worried about carrying a balance on their credit card for TV/Internet

Reducing retirement contributions can help employees catch up on missed payments and halt excessive credit card use, but it comes at the expense of their plans for retirement.

COVID-19 Retirement Impact: Retirement Outlook

A whopping 70 percent of employees report that the pandemic has made them more pessimistic about their retirement plans, according to research by The Alliance for Lifetime Income. That percentage is more harrowing when it’s considered that the survey sampled those with a minimum of $100,000 in assets. Only 33 percent of them are confident they’ll have enough to cover all their expenses in retirement and 20 percent have decided to retire later than initially planned.

Financial Stress and How Best Money Moves Can Help

Employees at every career stage are experiencing unprecedented levels of financial stress during the coronavirus pandemic. They need help navigating the financial challenges the crisis has presented and they need guidance to help them get back on track to reach their financial goals.

Best Money Moves is a mobile-first financial wellness program with the knowledge and support employees need to help them reduce their financial stress and live their best financial lives. It has a library of over 700 calculators, articles and videos as well as a budgeting tool that does the math to tell workers what their neighbors are spending in the same category. Plus, Best Money Moves is gamified, featuring a point-based rewards system where users earn points every time they log in, work with their budgets, read articles and measure their stress. Each point translates into a chance to win a monthly contest.

Sign up for a demonstration here to learn how Best Money Moves can bring financial wellness to your company.

The Caregiver Crisis at Work During the COVID-19 Pandemic

by LizStevens | Aug 19, 2020 | Blog

The caregiver crisis at work during the COVID-19 pandemic. Parents need flexibility from employers to balance work duties and caretaking as many districts continue with virtual learning.

More than half of parents who quit their jobs and filed for unemployment benefits this spring said closures of schools and daycare facilities due to the developing COVID-19 pandemic forced them to quit, according to research by Morning Consult for the Bipartisan Policy Center.

Caregiving duties stand in the way of nearly 60 percent of parents returning to work, 41 percent of them specifically citing school closures. Parents said they would be more likely to return to work sooner if they had access to paid leave, or if they were able to work on a flexible schedule.

In light of the caregiver crisis, which is raging once again as many schools plan to continue virtual learning this fall, Mercer identified a number of creative strategies employers can use to provide meaningful support to working parents facing this difficult situation.

The Caregiver Crisis at Work During the COVID-19 Pandemic

Parents are torn between caregiving and their careers. Sixty percent of parents agree it’s better to open schools later to minimize infection risk, even if students miss out on academics and social services and some parents will not be able to work, while nearly 35 percent say it’s better to open schools sooner so parents can work and kids can get services, even if there’s some risk of infection, according to a recent survey by the Kaiser Family Foundation.

If schools do remain closed, 51 percent of parents worry about losing income if they can’t go to work and 47 percent worry about not being able to pay enough attention to their children if they’re working from home.

Strategies to Support Working Parents and Caregivers

Mercer identified two areas of increased flexibility where employers can provide meaningful support to caregivers in their post on Creative Ideas to Support Working Parents During the Caregiver Crisis.

Flexibility at Work

There are several ways employers can offer parents some flexibility at work. Flexible scheduling, where employees have some control over when and how they get their work done, is the most popular option. Compressed workweeks, where employees work more hours in fewer days (for example, 40 hours in 4 days), could help employees who are dealing with hybrid school schedules. Allowing job sharing or reduced schedules could also provide employees with additional time to care for children, but it’s typically associated with a reduction in compensation.

Flexibility from Work

Consider how employees might be able to use PTO, vacation or sick leave, Family Medical Leave (FML) or other company leaves, then remind employees of the available programs and how they work. Some employers are also creating emergency COVID-19 pandemic paid or unpaid leave programs that allow employees to maintain income and benefits for a specified duration of time during the pandemic. When taking into consideration leave programs during the COVID-19 pandemic, it’s also important to review return protocols for employees who take leave intermittently or in blocks.

The COVID-19 pandemic has created a complex caregiving crisis. Parents shouldn’t have to choose between employment and their children’s safety and employers shouldn’t lose top talent to school closures. Identifying ways your organization can provide the flexibility Mercer recommends to support working parents is crucial until a vaccine for COVID-19 is readily available.

Reducing Employee Burnout During the COVID-19 Pandemic

Reducing Employee Burnout During the COVID-19 Pandemic

More on Topics Related to Employee Burnout and the COVID-19 Pandemic

Preparing for Virtual Open Enrollment in 2020

Preparing for Virtual Open Enrollment in 2020

Managing Costs While Meeting Needs

Utilizing Employee Data and Streamlining Communications

More on Topics Related to Virtual Open Enrollment and Employee Benefits

HR Trends 2021: Which Benefits Do Employees Value Most?

HR Trends 2021: Which Benefits Do Employees Value Most?

The Importance of Benefits Communication

More on Topics Related to HR Trends: What Benefits Do Employees Value Most?

COVID-19 Retirement Impact: Early Withdrawals and Reduced Contributions

COVID-19 Retirement Impact: Early Withdrawals and Reduced Contributions

COVID-19 Retirement Impact: Retirement Outlook

Financial Stress and How Best Money Moves Can Help

More on Topics Related to COVID-19, Retirement and Financial Stress

The Caregiver Crisis at Work During the COVID-19 Pandemic

The Caregiver Crisis at Work During the COVID-19 Pandemic

Strategies to Support Working Parents and Caregivers

Flexibility at Work

Flexibility from Work

More on Topics Related to the Caregiver Crisis at Work During the COVID-19 Pandemic

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