$1,500,000,000,000! At $1.5 trillion in outstanding loans nationally, chances are that many of your new recruits and current employees are struggling to pay down student loan debt, resulting in financial stress and delayed retirement savings. In fact, student loans are so common that 4 out of 10 Americans who have gone to college took out some sort of debt to pursue their degree.
The gig economy trend isn't new. It's just bigger now with more than 57 million workers in the United States freelancing. This equates to about 37% of the workforce. This is significant considering close to half of millennials are freelancing today; and a gig economy growth prediction is that by 2027, gig economy workers will make up most of the U.S. workforce. ("Freelancing in America: 2017", Upwork).
This compelling data raises some important questions about what HR professionals (or someone who has responsibility for recruitment, retention and talent) should do about the impacts of the gig economy at their organization.
The disco era brought us many fads: leisure suits, pet rocks and his and her perms. Those are mercifully gone, but the late ‘70s also introduced the promise of a paperless society. It hasn’t happened yet (and may not in our lifetimes), but the astonishing technology leaps over the past 40 years have certainly diminished the need for printed materials.
A healthy workforce is good for business, but the key ingredient is explaining various benefit programs or resources with clarity, storytelling, visual aids and even humor.
When employers provide the support that employees need to manage their physical, financial, emotional and social wellbeing, they’re able to improve health outcomes and business results in a more meaningful way than traditional health and wellness initiatives. This holistic approach recognizes that helping employees optimize their wellbeing is better for them while also enabling a clear competitive advantage for the organization.
Several external drivers – from the changing nature of work and the workforce to digital disruption to employee expectations for transparency – necessitate a renewed focus on Total Rewards. Benefits are no exception to the need to modernize: Employees are seeking customization and personalization of their benefits portfolio, especially as the workforce becomes more diverse. Global benefit cost and risk continue to put pressure on company budgets, and benefits technology has created opportunities to improve the employee experience and the administration of benefit plans.
More than ever before, companies are turning to employee engagement pulse surveys for employee feedback and, empowered by new technology, they are soliciting it more often and on more topics than ever. No longer requiring support from specialists, they are keeping their costs low and their options open.
In today’s fiercely competitive job market, being “attractive” to employees means taking advantage of every opportunity to engage and highlight your organization’s value so you can retain and attract the right talent. Individuals are no longer simply looking for a job; they want to be your fans, but they have to know what’s in it for them ― WIIFMs!
May 17, 2018 3:52:58 PM / by Elizabeth Byerly
There's a saying in my family "[Name] is getting cranky. Pass the nuts." (And, yes, we have packets of nuts in purses and cars!) In today’s busy lives at work and at home, it’s easy to put off eating. But, low fuel can translate to being unproductive, potentially unsafe and simply unpleasant to be around.
Picture this: John, one of your most talented junior managers, has had a number of life changes recently, both happy and challenging. He’s gotten married, moved into a new condo, and has started caring for an aging relative. He’s got a lot on his plate, personally, professionally, and financially.