How to Reduce Stress in the Workplace: 3 Tips to Start

How to Reduce Stress in the Workplace: 3 Tips to Start

How to reduce stress in the workplace: 3 tips to start. May is Mental Health Awareness Month and here are three ways employers can reduce stress, boost morale and attract talent for better employee morale and a more productive workplace.

Forty-eight percent of employees have cried at work when stressed out, according to a recent report by Ginger. More than 80 percent of employees say they are stressed on a regular basis and 45 percent of workers under 40 are extremely stressed on a daily basis.

Stress has a significant impact on morale and productivity in the workplace. Employees report that they are fatigued, anxious, lacking focus and engagement, irritated with coworkers, producing lower quality work, missing work and missing deadlines.

Less than 30 percent of the workforce seeks professional help for stress. Others cope with stress through self-help books, or worse, a third of employees don’t do anything. More than 90 percent of workers believe their employer should care about their emotional health and 85 percent look at behavioral health benefits when evaluating a new job.

Reducing stress and supporting mental health in the workplace is a win-win. There are three areas where organizations have an opportunity to tackle stress, boost morale and attract talent.

Boost Benefits to Reduce Stress

The good news is that 50 percent of employees are more likely to do something proactive about their emotional and mental health than they were 5 years ago. The bad news is that even if an organization offers behavioral health benefits, employees might not be able to use them. The most common barriers to care are high copays for mental health services and a lack of providers who are in-network.

Employers are getting creative to break through some of these barriers. Ocean Spray, which makes cranberry drinks and sauces, recently announced that it will waive behavioral health copays for its roughly 2,000 employees beginning this summer.

Other organizations are striving to give employees access to more providers who are in-network by adding onsite behavioral health clinics or telemedicine providers that offer on-demand teletherapy or telepsychiatry.

Reduce Stress with Office Environment

There are many elements of office design that can either increase or decrease stress. A recent study found that natural light or views of the outdoors were the most sought after office design perks, outranking onsite cafeterias, fitness centers and onsite childcare. Another study looks at how different colors can affect employee productivity and communicate messages about your brand.

Employers can also create a workplace culture that’s less stressful by encouraging employees to take five minutes a day to be less stressed. Whether it’s spent meditating, taking a walk, journaling, taking deep breaths, grabbing a coffee, or googling ‘ways to reduce stress’, it’s five minutes where employees can tune into themselves and get back to work with renewed focus and productivity. It’s only five minutes and it demonstrates to employees that you genuinely care about their emotional wellbeing, even if they don’t participate.

Flexibility to Reduce Stress

Half of workers report missing at least one day of work per year due to stress, anxiety, or some other emotional or mental health challenge. Organizations that offer more flexibility around scheduling can give employees an opportunity to slow down when they’re stressed out.

Flexible work arrangements provide employees with a certain flexibility in determining when and where they work. The two most common flexible work policies are work from home policies and unlimited paid leave policies. When an employer develops a new flex work policy it’s best to find the mid-point between organizational demands and workforce needs.

More on Stress and Mental Health in the Workplace:

Stress, Money and Millennials: Where’s the Pain Point?

How High is Work-Related Stress and What’s Causing It?

How to Support Mental Health at Work

Zombie Employees: Who Are They and What Do You Need to Know?

What’s the Best Move When Your Employees Are Stressed About Healthcare Costs?

Revealing Research on Financial Stress and Productivity

3 Employment Settlements for ADA Violations Explained

3 Employment Settlements for ADA Violations Explained

3 employment settlements for ADA violations explained. Learn about recent disability discrimination lawsuits, their outcomes, and how organizations can better accommodate employees with disabilities.

Three large employers were recently hit with significant legal settlements due to discriminatory hiring practices.

The Americans with Disabilities Act prohibits employers from discriminating based on disability and requires that employees with disabilities be provided a reasonable accom­mo­dation, provided it does not put undue hardship on the employer.

It’s critical for employers, human resources and management to understand the legal ramifications of discrimination in the workplace.

Three employment settlements from this year give a closer look at how the ADA protects workers with disabilities and how organizations can better accommodate them.

Employment Settlements for Discriminatory Hiring Practices

Safeway, Inc. agreed to pay $75,000 to Joel Silbert to settle a disability discrimination lawsuit filed by the Equal Employment Opportunity Commission (EEOC). Silbert is deaf and when he requested an interpreter for his interview the in-store hiring recruiter did not get back to him and instead filled vacant positions with hearing individuals. Safeway was found to be in violation of the ADA for failing to provide reasonable accommodations.

“I was excited when I was selected for an interview at Safeway,” said Silbert. “But when I requested an interpreter during my interview and placed multiple calls to the store over the following week, I was placed on hold or told no one was available. I felt so disregarded. I’m glad Safeway is taking steps to make their workplace more inclusive. This will make a difference for so many deaf applicants.”

Party City agreed to pay $155,000 for failing to hire a qualified employee with a disability in a lawsuit brought by the EEOC. The applicant, who was on the autism spectrum and suffered from severe anxiety, brought a job coach with her to a job interview and when the hiring manager learned of this they tried to cut the interview short and spoke to them in a patronizing tone.

Kevin Berry, director of the EEOC’s New York District Office, said, “Allowing this applicant to work with a job coach in her early weeks of employment would not have caused an undue burden on Party City. The ADA requires employers to make this type of reasonable accommodation so as to enable qualified people with disabilities to join the workforce, which is a win-win for everyone.”

Employment Settlement for Application Assessment

Blue Cross/Blue Shield (BCBS) of Texas agreed to pay $75,000 to Sheryl Meador to settle a disability discrimination lawsuit brought by the EEOC. A portion of their application process included an assessment with an audio portion that did not include captions or other visual accommodations for the hearing-impaired. Meador, who is deaf, contacted BCBS to request a reasonable accommodation, but they failed to communicate with her after her multiple attempts to follow up on the matter. In addition to the payout, BCBS will conduct annual training on the ADA and will inform applicants and employees with disabilities of their rights, including the right to reasonable accommodations.

EEOC Senior Trial Attorney Joel Clark said, “The non-monetary relief contained in the consent decree should help eliminate obstacles for other hearing-impaired applicants. We trust that the new policies and practices for hearing-impaired applicants will effect positive change for this health care services company. The EEOC wants to ensure that what Ms. Meador experienced does not happen again.”

More on Workplace Discrimination:

What Can You Do to Stop Age Discrimination in the Workplace?

Women in Tech: Financial Wellness and Workplace Equality

Women and Financial Stress in the Workplace: Why It’s So Important

What’s Wrong with Wellness Program Incentives?

Best Money Moves to Provide Financial Wellness  for SAP SuccessFactors’ New HR Community

Best Money Moves to Provide Financial Wellness for SAP SuccessFactors’ New HR Community

LAS VEGAS, NV – September 13, 2018 – Best Money Moves, an award-winning financial wellness technology platform, announced it has been selected as the financial wellness provider for SAP SE (NYSE: SAP) SuccessFactors’ new Community, designed to tackle the most critical people issues facing human resources (HR) professionals and business leaders today.

SAP SuccessFactors is starting with a handful of best-in-class organizations of all sizes, from enterprises to startups, to co-create “simple solutions to big problems” through stand-alone, purpose-built and easy-to-consume applications.

“Today, we are seeing unprecedented levels of innovation in HR technology,” SAP SuccessFactors President Greg Tomb said. “We believe this wave of innovation will result in a ‘human revolution’ that will allow businesses to focus time, talent and energy on the thing that really matters: the people that lead to business outcomes. With this community, we can help assemble the right set of solutions for our customers’ diverse needs. And, if they don’t exist yet, we can co-create them together.”

“We are thrilled to be adding our financial wellness + coaching platform to SAP SuccessFactors’ new HR Community,” said Ilyce Glink, founder and CEO of Best Money Moves and an award-winning financial journalist and book author. “SAP SuccessFactors’ provides best-in-class HR technology to thousands of companies and millions of employees globally. We look forward to helping all of them measure and dial down their financial stress.”

The new community consists of partners organized around six initial pillars: well-being, pay equity, real-time feedback, unbiased recruiting, predictive performance and internal mobility. SAP SuccessFactors offers customers a curated set of solutions to augment their existing systems and tap into the latest sources of innovation faster than ever. SAP SuccessFactors also provides an open platform and tools to help developers and entrepreneurs create the next generation of HR solutions. SAP SuccessFactors will continue to expand its network of partners and pillars in the coming quarters to cover all aspects of the employee journey.

SAP SuccessFactors is working together with Thrive Global to operationalize a culture of well-being and improve the employee experience overall. Like SuccessFactors, Thrive Global believes that to inspire peak performance in employees and companies, it is critical to focus on the human element. Together with SAP SuccessFactors and Thrive, organizations can truly offer a comprehensive well-being strategy for their employees.

In addition to Best Money Moves, a number of additional partners in the community are working to solve critical people issues:

  • Ensure employees are paid equitably with PayScale
  • Provide insightful feedback to enhance employee effectiveness with Cultivate and CultureAmp
  • Achieve diversity goals and eliminate recruiting bias with Blendoor and Brilliant Hire
  • Assess talent more accurately to hire the most qualified candidates with Plum and HiredScore
  • Mobilize the workforce to cover understaffing with Andjaro

“An open community focused on solving big people issues is exactly what business leaders and HR leaders need today,” said Penny Stoker, Global HR Services Leader for EY. “From curated content enabling behavior change to bias-free hiring and financial well-being management, SAP SuccessFactors has curated a set of rising stars in the HR tech industry.”

 

About Best Money Moves

A cloud-based, mobile-first financial wellness technology platform, Best Money Moves helps employees measure their level of financial stress and dial it down using a unique content-mapping system, powered by machine learning. Best Money Moves measures stress in 15 categories, and incorporates live money coaching as well as an extraordinary level of company-level customization, so that employers can dig into unique insights, and understand more about how their employees financial stress impacts everything from retention, turnover, and workplace accidents, to unexplained absences, healthcare costs and outcomes and other issues. Best Money Moves placed 3rd in the 2017 Next Great HR Tech Company competition, and was named a Top 20 Financial Wellness provider by MyShortlister. For information, visit BestMoneyMoves.com.

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 404,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com or the SAP News Center.

Research Says Employees Want Financial Wellness Programs

Research Says Employees Want Financial Wellness Programs

A recent study from Bank of America shows employees and employers agree that financial wellness programs have positively impacted them and their companies.

The research is in, and employees want financial wellness programs. A recent Bank of America study found that 91 percent of employees who participate in financial wellness programs say those resources have helped them. Similarly, 95 percent of employers who offer those programs agree that these support systems have been effective in reaching their company’s goals.  

Financial wellness programs provide tangible benefits to the businesses that offer them, including greater employee satisfaction, improved productivity, lower turnover rates and potentially decreased company healthcare costs.  

Lisa Margeson, head of retirement client experience and communications at Bank of America Merrill Lynch, said companies are increasingly providing these programs to their employees because they realize it’s the right thing to do. Financial wellness, she said, is becoming more comprehensive.

“Financial wellness is more than just planning for retirement,” Margeson said. “It is really becoming more of a holistic conversation with employers and employees about all of the financial priorities that individuals can benefit from understanding, being educated on and planning for.”

But here’s the problem — less than half of employees are offered financial wellness plans, and when they are, only 31% of those employees participate. Employees don’t take advantage of these resources for a variety of reasons. Some don’t understand how to use or find their programs, desire more personalized help than the platforms offer or are simply too busy to utilize them.  

The best way to increase participation, according to the study, is to offer cash incentives or discounts to participants.

Participation in these programs is key for many members of the workforce, as nearly 40 percent of employees report feeling financially unwell. These workers say they’re prevented from achieving fiscal wellness because they’re afraid of making mistakes, or are uncomfortable thinking about finances, among other barriers.

“Employees who don’t feel they’re financially well are most concerned about short-term goals…like managing their immediate debt or budgeting skills,” Margeson said. “Employees who do feel financially well are most concerned about longer-term goals, so preparing for retirement and good savings habits.”

Employees agree that the most helpful resource in improving financial wellness is advice from a professional, which is included in some programs. But specificity is key. Employees want these programs to address their specific goals, and offer a way to evaluate their unique financial health. Seventy percent say they would be comfortable sharing financial info as a part of an employer-offered financial assessment.

The report recommends offering financial wellness programs as a distinct benefit separate from other benefits such as 401(k) plans and health plans. To drive engagement, it recommends employers provide tangible rewards or incentives for employee participation, establish baseline engagement levels and measure improvement. You can bring financial wellness to your workplace with Best Money Moves. Best Money Moves is a mobile-friendly, online financial wellness platform that offers comprehensive financial education to employees of all ages. Our nationally-certified Money Coaches provide personalized advice to your employees about a myriad of financial situations. We run contests with cash rewards to incentivize your employees to use our system, and offer budgeting tools and calculators to help them manage their financial wellbeing. Click here to learn more about Best Money Moves and whether or not it might be right for your company.