For most organizations, the hustle and bustle of open enrollment is passed. If you have open enrollment coming up in May, this doesn’t necessarily apply to you at this time… As the dust of open enrollment season settles, it’s still crucial for HR Directors and benefits administrators to ensure that their organization’s workforce remains aware and engaged with the benefits they’ve selected. You just worked so hard to communicate your benefits and you don’t want to lose that momentum.  According to a recent survey by the Society for Human Resource Management (SHRM), employees spend just 18 ..read more

What financial goals have you set for 2024? Or a better question, do you set financial goals for yourself at all?  With inflation roller coasters, student loan debt forgiveness, and job retention uncertainties, prepping your budget and financial planning can be no easy feat. This year especially, financial wellness will remain a much-discussed topic. So, what will this year’s financial ambitions look like? Setting the Stage The year 2024 will be a pivotal moment for financial planning and goal-setting among Americans. With our shifting economic paradigms and evolving societal norms, indiv ..read more

Financial stability is a constant concern for many Americans and the workplace has become a battleground for the pursuit of economic security.  It can’t be argued today that employers play a crucial role in their employees’ lives, not just in terms of job security and salary, but increasingly, in matters of personal finance. One controversial trend gaining traction is the practice of employers offering personal loans to their staff. While on the surface, this may seem like a gesture of support, a closer examination reveals potential pitfalls that raise questions about the long-term financ ..read more

In the United States, financial health is increasingly pervasive. The burden of financial stress not only affects individuals but also has a profound impact on your workplace.  As employers grapple with the challenges of finding new talent, retaining employees and keeping everyone happy, healthy and engaged, there is a growing recognition that taking an active role in their employees’ financial well-being is not just a moral imperative but also a strategic business move. A.k.a. Let’s talk more about finances in the office! According to a 2022 report by the American Psychological Associati ..read more

Guest post by Loretta Kilday People give attractive gifts to their family and friends during the holiday season. But it won’t be possible without a sufficient budget or spending plan. Holiday expenses may create holiday debts, which might become a problem. As a result, people might face financial hardships to pay off a huge holiday debt burden in 2024. The overall credit card debt in the US is now $1.08 trillion in 2023. Another research by Debt Hammer indicates that 48% of total citizens may incur more credit card debt than last year. The average credit card interest rate is quite high, too ..read more

You should never not be communicating with your employees about the benefits available to them. Whether you’ve finished open enrollment, you’re in it now, or you’re preparing for it to come, you should also make sure that you have a communication strategy in place to continuously remind your employees of their active benefits.  Attention spans come and go. Needs come and go. This consistent communication lets attention spans pay attention to what they need, making it that much more important. And, benefits play a paramount role in talent attraction and retention, so effective communicatio ..read more

Every year, open enrollment comes and goes, and it is a whirlwind to say the least. HR and Benefits teams have been working hard to identify, incorporate and offer the best options for their teams. Open enrollment is no easy feat to prepare for, but necessary none-the-less to provide the best options for your employees.  But what happens after the enrollment period is over? Many employers tend to breathe a sigh of relief and shift their focus to other pressing matters. However, this could be quite a big missed opportunity.  Continued benefits communication is key to ensuring that emp ..read more

Life is full of uncertainties, and unexpected emergencies can strike at any moment. Whether it’s a medical crisis, a sudden job loss, or a major car repair, having the financial resources to weather these storms is crucial for your peace of mind and overall financial wellbeing.  According to a study by the National Bureau of Economic Research, nearly 40% of Americans do not have enough savings to cover an unexpected $400 expense. This statistic underscores a glaring issue in our society – the lack of financial preparedness for unforeseen circumstances. What we need is to be better educate ..read more

Today, the average American’s personal debt is $21,800. Sound familiar?  Whether you have debt now or you’ve had debt in the past, most Americans have experienced some kind of debt in their lifetime, and it isn’t fun.  Now, imagine having debt and then imagine some unexpected expense has charged its way into your life wreaking havoc and causing more chaos. What would you do? Contrary to what might be your first inclination, you should be able to go to your employee benefits portal and get financial help. How many employers are offering this today though? Not as many as you’d think ..read more

Raise your hand if you splurged on something–anything–this summer. You’re not alone. When the temperatures rise and summer vibes are in full force with your friends, your family, your kids, you want to be able to enjoy the moment and dive into the fun headfirst. And, you should be able to do this. You should feel comfortable and confident in your ability to splurge a little.  However, most Americans don’t feel that way. Their financial stress takes over and it prevents so many from enjoying their life the way they want to.  When this happens, credit card debt tends to be the first to ..read more