Hiring people is hard work, and it’s getting harder. The unemployment rate is extremely low (4.1%) and going down.
reducing turnover rate, Turnover, turnover rate, wage growth, what employees want, Employee Retention, financial wellness, how to help employees, reduce turnover, employee loyalty
turnover rate, wage growth, what employees want, absenteeism, financial wellness, how to help employees, improve engagement, employee loyalty
THE COSTS OF ABSENTEEISM
Employee absenteeism isn’t cheap. According to a study done by Circadian, absenteeism among hourly workers costs $2,660 per employee per year. For companies employing 500 hourly workers, that amounts to $1,330,000 per year in direct absenteeism costs.
turnover rate, what employees want, bottom line, financial wellness, transparency, simplicity, financial literacy
Why are we talking about financial literacy?
"Employers don't do this to be nice," says [Bruce Elliott, manager of compensation and benefits at the Society for Human Resource Management]. "Employers that adapt will have a real edge." (CreditCards.com)
Profit & Loss is the bedrock of decision making in business.[...]
turnover rate, wage growth, what employees want, financial wellness, transparency, simplicity
Transparency and Simplicity: The Two Keys to Financial Wellness
Financial Security, financial wellness, Financial Wellness Benefit
How well do Americans manage money?
A recent Prudential report stated that 63% of Americans do not have a “rainy day fund” large enough to cover an unexpected expense of $500. And, 78% of people who participated in the Prudential survey said they don’t feel financially secure.
direct deposit, financial wellness, Financial Wellness Benefit
Keeping direct deposit enrollment rates up has positive implications for both an employee and employer. Time, money and frustration can all be spared if employers offer direct deposit, and if employees utilize the benefit. Even more is the fact that your employees have a unique opportunity to kick-start their[...]
employee attrition, payroll costs, Cost of turnover, Employee Retention, employee turnover, Financial Security, financial wellness
Monitoring and assigning a dollar figure to turnover is important for any business. Companies need to track employee turnover so they can look for and minimize causes of turnover, in part to protect their bottom line.
employee loans, financial wellness, payday loans
Financial insecurity can be a productivity killer. Employers who offer empathy toward employees in need of financial assistance can boost employee loyalty and overall workplace engagement.
employee attrition, how to help employees pay bills, Financial Security, financial wellness, Financial Wellness Benefit, how to help employees meet deadlines
Financial wellness programs at the workplace have gained popularity over years. In a recent Bank of America survey, nearly three-quarters of 1,020 plan sponsors surveyed believe that financial wellness solutions will be standard elements of benefits packages in the future. It is also suggested that large companies[...]
employee attrition, Employee Retention, employee turnover, financial wellness, Financial Wellness Benefit
Employee turnover is expensive, and in many industries, the cost of losing good workers is rising. Tight labor markets, and young employees job hopping at an increased rate are two proven contributors to turnover increases. Turnover is a meaningful expense for companies who constantly have to recruit new employees[...]