2019 was a big year.
To keep you in the know, here are the top 5 of our most popular blogs of 2019.
To put that in context, the last time the job market was this tight was the year that thousands of music fans gathered in the muddy fields at Yasgar’s farm in Woodstock, Neil Armstrong stepped into history as the first man on the moon, and Nixon was elected president. That seems like an awfully long time ago, doesn’t it?
For most HR and benefits pros working today, this territory is about as foreign as bell bottoms and go-go boots.
Over the last 20 years, the unemployment rate has mostly hovered between 5 and 10 percent, including two periods of recession. It’s been the norm for open requisitions to result in dozens of applications, if not more. Candidate pipelines were overflowing, and HR’s challenge was to find the right candidate from a large pool. There wasn’t a lot of competition for resources. It was a buyer’s market, which was sort of groovy for employers. Read full post here.
Yelling “FIRE” in a crowded movie theater creates chaos — almost as much chaos as its acronymic counterpart F.I.R.E. (financially independent, retire early) movement is causing online.
Fed up with extreme work schedules, rising costs of living and an inability to check off basic life milestones due to other financial pressures, many Millennials are taking a different route to retirement.
Age-old wisdom is just that—old.
The fact is, younger generations are no longer enjoying a better standard of living than their parents. On many different fronts, Millennials are faring far worse financially than generations past. And, despite all the negative press Millennials get, it’s not their fault. Read full blog here.
The recent government shutdown sliced through the seemingly healthy skin of the economy to reveal the fragile state of American workers’ savings.
The problem? Over 80 percent of American employees say they are living paycheck to paycheck. Many say they couldn’t afford to pay an extra $400 in a financial emergency.
A worrying trend
With no financial safety net, many tap into retirement or their kids’ college funds to weather the storm. According to recent 2018 report, 42 percent of employees say it’s likely they’ll need to use money held in retirement funds for expenses other than retirement. That number gets even higher for employees who are stressed about their finances and impacted by student loans. Retirement funds have become the only safety net for the American worker. And some don’t even have that. Thirty-five percent of private sector workers over the age of 22 don’t work for a company that offers a plan. What do they have to fall back on? Read full blog post here.
For the past four years, we have studied the impact of empathy in the workplace. Our 2019 results illustrate that the need for empathy in the workplace has only increased in importance.
From gender disparity in leadership to rising healthcare costs to having a record four generations actively working today, it’s clear that the American workplace is facing a multitude of pressures. The tight labor market and low unemployment rate present employees with options — and employers with challenges around recruitment and retention. These factors, combined with our “always-on” culture, are presenting new obstacles to our working lives that many industries are not prepared to address.
In this environment, it makes sense that empathy, the ability to understand and experience the feelings of another, would be the difference-maker when fostering a positive workplace culture and keeping employees engaged. Our 2019 State of Workplace Empathy Study — the fourth annual study we’ve conducted on this issue — confirms that empathy is no longer a “nice-to-have” or a value that can just be demonstrated through a few gestures or programs. Read full blog post here.
We all know that supporting employee financial well-being is the right thing to do.
But when it comes to making the case for investing in benefits and programs that can help, it’s important to understand the true impact on your bottom line.
As a strategic partner in delivering the desired business outcomes for your organization, you’ve got a lot to think about — hiring talent within budget, retaining employees who add value, increasing engagement, and more.
But when’s the last time you thought about your role in addressing employee financial well-being to improve your organization’s profitability? If this is not on your radar, it should be. Read full blog post here.
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