healthcare Archives

The Opioid Epidemic: How Employers Can Help

by Emily Pfund | Apr 26, 2017 | Blog

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.

As lawmakers battle over how to fight America’s opioid epidemic, employers are struggling to help their employees in this battle, as well.

About 70 percent of employers surveyed by the National Safety Council said that prescription narcotics have impacted their business.

Employers’ standard health and wellness programs are often unequipped to handle this particular health crisis which, according to the Department of Health and Human Services, claims an average of 78 lives in opioid-related overdoses per day.

Read on for five steps employers can take to fight opioid abuse among employees.

Financial Literacy Month is drawing to an end, but employers can offer financial education to help employees manage their money year-round. Four ways to help reduce financial stress.

Millennials’ financial stress is decreasing and is now more in line with their Gen-X colleagues, according to Pricewaterhouse Coopers’ 2017 Employee Financial Wellness Survey. However, these employees face new financial responsibilities and stressors. Millennials’ newfound financial maturity.

But that doesn’t mean Millennials are satisfied with their financial situation. A study by FiServ found only 20 percent are satisfied with their financial health, compared to 36 percent of the overall population.

Wishing for a shorter work day? It could save your company money. An experiment in the Swedish city of Gothenburg found long-term savings from a shorter work day included decreased healthcare costs and fewer sick days used.

What keeps you awake at night? If your financial situation is costing you precious hours of sleep, you’re not alone. A new study found that “financial insomnia” is at its highest rate since the Great Recession. Which financial issues are the biggest causes of financial insomnia?

Your competitors are trying to steal your best workers. CNBC reports that 68 percent of high-performance employees are contacted about new job opportunities at least once a month. What can you do to keep your best people from leaving?

Your employees’ healthcare data is a valuable target for hackers. But your employees themselves may be the biggest obstacle to keeping their own information secure. Learn how you can protect employees from themselves.

Relocating for work can come with a lot of additional expenses and tax headaches for your workers. Helping your employees sort through these financial issues early on will save your HR department from headaches down the road.

Workplace flexibility is all the rage. A new study found that 76 percent of companies offer some sort of alternative work arrangement, whether it’s a work-from-home program or flexible scheduling.

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

It’s hard to stay on top of everything in the news. That’s why each week our Best Money Moves newsroom will bring you the most important news in financial wellness, employee benefits and financial stress. We hope you like the information and, if you do, please spread the word. For midweek developments, follow us on Twitter and on Facebook.

Helping U.S. Servicemembers Fight Financial Stress

by Emily Pfund | Feb 1, 2017 | Blog

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.

Our men and women in uniform fight for us overseas, but they too often come home to face another fight: the fight for their own financial security.

Long stints overseas keep servicemembers from dealing with financial issues like mortgages or loans at home and increase childcare costs by removing one caretaker from the home. The military also require frequent moves as servicemembers are re-assigned to military bases across the country or across the world.

That’s why the Consumer Financial Protection Bureau (CFPB) created the Office of Servicemember Affairs: to help members of our military handle the financial stresses they face and to protect them from unscrupulous financial practices designed to prey on their unique financial situation.

Learn how this added financial stress impacts our men and women in uniform.

Employees should have received their W-2s and other tax documents by Tuesday. It’s also National Tax Identity Theft Awareness Week. Here’s what your employees should know to protect themselves.

Do you ask potential employees how much money they earned at their last job? That question is now illegal in the city of Philadelphia, thanks to a new law aimed at ending the gender pay gap. Some say the measure could backfire.

Employees from different generations have different workplace needs. What was appealing to Baby Boomers may not work for Generation X or Millennials. Here’s how you can communicate across generational lines.

Worried about what your business should do if the Affordable Care act is repealed? For now, you’re best off staying the course and continuing to follow the ACA’s rules. Here’s why.

A negative workplace culture can make even the most dedicated employee hand in their two weeks’ notice. These eight mistakes are some of the most common ways companies ruin their office culture. Have you seen these in your office?

Dissatisfied employees can drag down everyone around them and hurt a business’s productivity. A mobile-based employee feedback app can help managers intervene before the situation becomes serious.

Replacing retail employees can cost a business an average of $3,400 per employee. If you have a turnover rate near the national average of 5 percent, those costs can really hurt your bottom line. These six things can help you hold on to those employees.

Can wellness programs actually help significantly lower employee stress? According to one three-year study, the answer is yes. See how much employees were able to reduce their stress.

Small businesses can’t always offer retirement plans as extensive as those offered by big corporations, but that doesn’t mean they’re not good plans. Learn how to get the most out of small business retirement plans.

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

It’s hard to stay on top of everything in the news. That’s why each week our Best Money Moves newsroom will bring you the most important news in financial wellness, employee benefits and financial stress. We hope you like the information and, if you do, please spread the word. For midweek developments, follow us on Twitter and on Facebook.

Should Employers Require Unconscious Bias Training for Employees?

by Emily Pfund | Jan 11, 2017 | Blog

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.

As many HR professionals work toward building more inclusive and diverse workplaces, accounting and consulting firm Pricewaterhouse Coopers has announced it will mandate unconscious bias training for all of its employees. The move, initiated by Chairman Tim Ryan, came as a response to news coverage of the deaths of black men shot by police and the ensuing discussions about race.

The program will be developed by a leading researcher on unconscious bias from Harvard University to help employees understand how split-second decisions can impact their coworkers and how members of other racial or gender groups may perceive situations differently. Here’s how the company hopes the program will change its workforce.

What matters more to employees: promotions or raises? According to an October 2016 study, about two-thirds of employees (63 percent) say they would rather get a promotion with no salary increase than stay in the same position but get a raise. Here’s why.

Are managers in your company keeping secrets? A study conducted late last year found that 64 percent of employees think their leadership isn’t being completely transparent with them and many feel increased transparency would help boost their productivity. Learn how keeping secrets can slow your workforce down.

While real estate prices may stabilize slightly in 2017, housing costs are still one of the biggest sources of financial stress employees face. Employers can take small steps to help employees reduce this stress.

Say goodbye to the nine-to-five and the commute. As employers search for new perks to offer new hires, “flexible” jobs – jobs that offer flexible hours or the option to work from home – are becoming more common. But sometimes flexibility needs a more formal policy behind it.

January is a great time to think about wellness, but companies should keep this focus year-round. From tax time to back-to-school season, there are a myriad of things in and outside the workplace that can drag your team down. Watch out for and address these year-round stressors.

Company restructuring can be rough on employee retention. The stress and uncertainty of the transition can easily drive your top talent away in search of a more stable work environment. These nine strategies will encourage employees to stick around through the changes.

More companies are taking a holistic approach to employee wellness. These programs now add financial components to existing physical and emotional wellness initiatives, add technology for easier access and focus on better HR communications to increase awareness and participation.

The healthcare industry faces a lot of uncertainty in 2017 – particularly regarding the future of the Affordable Care Act – and that uncertainty is strongly felt by women. Here’s what the next year could mean for women’s healthcare in the workplace.

Heightened media attention regarding mental health issues is leading some employers to reexamine how they handle mental health issues in the workplace. Keep these three things in mind when evaluating your company’s mental health policies.

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

It’s hard to stay on top of everything in the news. That’s why each week our Best Money Moves newsroom will bring you the most important news in financial wellness, employee benefits and financial stress. We hope you like the information and, if you do, please spread the word. For midweek developments, follow us on Twitter and on Facebook.

Trump’s Insurance Plan, Employee Happiness By State, Financial Stress Reaches PTSD Levels

by Emily Pfund | Nov 30, 2016 | Blog

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.

President-elect Donald Trump wants to allow cross-state insurance sales, a move he says will give consumers and employers more choices and create a “dynamic market.” Proponents of the move say consumers or companies could save money by buying insurance from states that have less expensive insurance requirements. However, industry experts say the move could be a lot of time and effort spent on something that wouldn’t make much of a difference, especially due to the Affordable Care Act’s influence in making insurance policies more uniform in their coverage of expensive conditions like autism and infertility. Of course, that could all change as well with Trump’s repeated promises to repeal and replace the ACA.

Do you think people in your state are happy with their jobs? They are in Hawaii, West Virginia and Maine, but less so in New Mexico, Pennsylvania and Washington.

How serious is your financial stress? A new study found that nearly a quarter of employees report acute financial stress so severe it could qualify as PTSD.

Student loans are a major source of financial stress for America’s workforce, but it doesn’t look like the problem will be solved anytime soon. A recent ProPublica study took a state-by-state look at college tuition costs and income growth – and found they don’t line up.

Is your financial stress hurting your performance at work? According to a new study, about 29 percent of Americans say they’ve skipped work to deal with their money problems.

What does it take to hang on to your company’s best employees? Here’s a four-ingredient recipe for employee retention.

You don’t necessarily need a big company budget for big employee perks. Here are five ways small businesses can offer big employee perks and better retain top talent.

Millennials view employee benefits differently than previous generations of workers, which means companies need to approach benefits for these employees differently. Here’s how HR departments can most effectively reach their millennial employees.

Employers around the country were already preparing for the Department of Labor’s new overtime rules to take effect when a federal court blocked them last week. Should employers now stop what they were doing or continue preparations in case the injunction is overturned? Here’s what the experts say.

Is your office hemorrhaging employees as they move on to other opportunities? Here are five big reasons people leave their jobs – and how to recognize the signs.

Did you find this Best Money Moves roundup useful? Please let us know. Email us at info@bestmoneymoves.com.

It’s hard to stay on top of everything in the news. That’s why each week our Best Money Moves newsroom will bring you the most important news in financial wellness, employee benefits and financial stress. We hope you like the information and, if you do, please spread the word. For midweek developments, follow us on Twitter and on Facebook.

Anthem, Cigna Merger, Health Care Costs, and New Financial Stress Numbers

by Emily Pfund | Nov 22, 2016 | Blog

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.

Is the pending merger of two major healthcare insurance providers a win for employers and consumers or a breach of federal antitrust laws? The antitrust trial for Anthem’s $45 million merger (or takeover, as some have positioned it) with Cigna began on Monday in U.S. District Court for the District of Columbia, with a lawyer for Anthem arguing that the merger will help insurers lower costs for consumers. The Department of Justice, on the other hand is arguing that the merger will create an insurance behemoth that would create those savings by forcing doctors and hospitals to work for less. The two-phase trial could last for several weeks.

Do your coworkers look listless at their desks? Are they spending more time on their phones than on the job? Research shows young women are more likely than other groups to feel bored at work. Here’s how employees can re-engage with their jobs.

How many Americans struggle with financial stress? Most of them, as it turns out. And recent studies show that financial stress doesn’t stay contained to your finances.

Once companies find great employees, they want to hang onto them for as long as possible. However, that can be difficult to do if those employees clash with their managers. Watch out for these six management behaviors that could send your best people running.

Employers who offer tuition reimbursement or educational assistance report higher retention, employee satisfaction and ability to attract top talent. Read how seven big-name companies have implemented this popular employee benefit for their workforces.

What does the future hold for the HR industry? We may not have a crystal ball to tell us for sure, but we can make some educated guesses. Four industry experts share the trends and changes in store for H.R.

Thinking about retirement savings can be stressful for everyone, but some may feel the stress more than others. A recent study found millennial women report greater stress and uncertainty related to saving enough for retirement.

Are Uber drivers employees or independent contractors? The ridesharing company is working to finalize a settlement with drivers suing it over allegations it didn’t offer the same benefits and protections of other employees, including minimum wage and overtime.

Government jobs once came with the promise of a great pension and health care plan in retirement. Now, cash-strapped cities and other government agencies find themselves able to pay for only a fraction of their promised retirement benefits. Most cities have set aside less than 2 percent of their future healthcare liabilities.

A growing number of companies are using HR analytics to boost their retention and recruiting efforts. This data helps them figure out why employees quit, why they stay and which benefits they use the most. How can you incorporate analytics into your HR programs?

Are you struggling to boost employee participation in your company’s retirement plans? When companies put the responsibility on employees to set up their accounts, it may never get done. That’s why some suggest making retirement enrollment automatic and mandatory. The Department of Labor (DOL) offers a free online brochure on automatic enrollment 401k plans for small businesses that might interest you.

Did you find this Best Money Moves roundup useful? Please let us know. Email us at info@bestmoneymoves.com.

It’s hard to stay on top of everything in the news. That’s why each week our Best Money Moves newsroom will bring you the most important news in financial wellness, employee benefits and financial stress. We hope you like the information and, if you do, please spread the word. For midweek developments, follow us on Twitter and on Facebook.