Renaissance Life and Health Insurance Company of America的动态

As employers and HR professionals navigate fluctuating health costs and inflation, offering competitive benefits remain crucial to attract and retain employees. Northwell Direct encourages leaders to focus on value, not just additional perks. Fill gaps with inclusive benefits, and prioritize the mental well-being of your team members. To learn more about benefits you can bring to your organization, read more on our blog here: https://lnkd.in/e-dsNkUc #employeebenefits #healthcaresosts #hrstrategies #employertips #inflationimpact #mentalhealthsupport #supplementalbenefits #whatissupplementalbenefits

The recent American Psychological Association survey found that over 70% of Americans are experiencing financial stress, with employees also struggling financially, impacting their overall well-being. The Alight Winning with Wellbeing report revealed that less than half of employees utilize the healthcare benefits and retirement contributions offered by their employers, citing unaffordability and lack of awareness as key reasons. Using AI-powered tools. organizations aim to personalize benefits communication, predict health risks, and offer personalized healthcare recommendations, ultimately benefiting both employees and employers. For more in-depth information, please consider checking out this article in the HR Executive! Be Kind ??? Taylor

Referencing MetLife’s annual U.S. Employee Benefit Trends Study, SHRM notes that “financial concerns and a persistently high cost of living — which other reports suggest are causing a significant number of employees to live paycheck to paycheck — are the top reasons for poor mental health among employees in 2024, cited by 45 percent.” As a result, costs for employers are rising as well. According to ComPsych, employee leaves of absence resulting from mental health issues have surged by an astounding 300% from 2017 to 2023, with durations ranging from just a few days to several weeks. Absenteeism and resulting losses in productivity can be significant for organizations. These alarming statistics underscore the critical need for employers to prioritize financial wellness programs as part of a holistic benefits offering. This can include financial planning workshops, budgeting tools and debt management programs. In particular, access to one-on-one sessions with financial advisors can provide personalized guidance and support for employees struggling with financial stress. The team at Vantage Financial Group, Inc. covers this and more in the September edition of The Retirement Times. #mentalhealth #benefits #workplace #wellness #finanicalwellness

?? Are Employers Missing the Mark on Tailored Benefits? ?? Recent trends show that many employers are failing to target benefits effectively based on the diverse needs of their workforce—especially when it comes to age and gender. ?? Why does it matter? Employees at different life stages have different needs: Gen Z may value career development perks, while Gen X might prioritize retirement planning. Gender can also impact benefit preferences, with issues like parental leave, healthcare, and mental well-being taking center stage for various groups. When benefits aren't tailored, employers risk lower engagement, higher turnover, and missed opportunities to support the health and productivity of their teams. ?? It’s time for companies to adopt data-driven strategies and create inclusive, personalized benefits packages that reflect the needs of their workforce—because one-size-fits-all simply doesn't cut it anymore. How is your organization addressing this challenge? https://lnkd.in/eBsR3ij4 ?#HR #EmployeeBenefits #WorkplaceDiversity #EmployeeEngagement #InclusiveWorkplace #FutureOfWork ?

Fred Barstein writing for 401kTV states that financial wellness is more important than ever as?economic and geopolitical uncertainty persists?and employees struggle with pervasive money stress.?This could be a pivotal year for employers to embrace financial wellness platforms that can not only improve recruiting and retention, but also help workers make more informed, more confident decisions about their finances, providing them peace of mind and enhancing their productivity on the job. Ana Mahony, CEO of financial wellness platform Addition Wealth, was quoted in the BenefitsPRO article.?She spotlighted three financial wellness trends employers, and retirement plan advisors may want to consider being familiar with, should be aware of in 2024, and suggested solutions to address them: You can access them here: https://lnkd.in/e_i8jJvs #employeewellbeing #stress #financialwellbeing #financialwellness

The majority of employers are looking to expand on well-being benefits for employees in the next year, responding to social health determinants that are affecting worker health and happiness. From childcare support to financial literacy programs, housing assistance, family planning resources and more, well-being benefits take many forms. The important thing for brokers, and their clients, to consider when deciding which well-being benefits are the best fit, is just that: fit. Employee needs, both present and future, should be the driving force of an expanding benefits program. Understanding what your clients and their employees are looking for when crafting new ancillary options is vital to providing benefits that will: ● Actually get used ● Improve the lives of employees ● Boost employer retention Healthier, happier employees that feel they and their families are supported by their work is the sweet spot employers should aim for. Brokers, in turn, should strategize with their relevant clients in order to learn what benefits would be most needed for the workers, and structure plans that are centered on employee well-being. https://lnkd.in/gKWVVPH6

New proposals from the Financial Conduct Authority to broaden the regulatory framework around financial guidance are likely to make it easier for organisations to engage employees with wellbeing benefits. But it’s important to be aware of the potential downsides, and to take action to mitigate them.

When an individual has financial health, they experience greater overall well-being and bring their best selves to the workplace. Unfortunately, 80% of employees report being financially stressed, and only 28% of employers offer financial wellness programs. Today’s workers must navigate complicated benefits packages and make critical decisions about their personal finances with limited or no guidance from their employers. This article discusses three steps you as an employer can take to boost the financial health of your employees and alleviate money-related stress and distractions: 1) take an “ecosystem” approach to employees’ financial health, 2) help employees effectively navigate benefits, and 3) recruit an external firm or in-house expert to provide education on financial well-being. #financialwellness #employeebenefits #financialeducation

?? ICYMI! Our 2024 Financial Wellness Survey Report is out, and it’s clear—American workers are feeling the financial strain. Qualified Plan Advisors's Financial Wellness Program aims to alleviate financial stress, boost employee satisfaction, and improve productivity by offering essential educational resources and support. To read more about our report featured in 401(k) Specialist Magazine, click here: https://lnkd.in/g4YUPg7w Interested in how we can collaborate to enhance financial well-being in your workforce? Feel free to reach out! ?? #FinancialWellness #EmployeeBenefits #WorkplaceWellness #FinancialHealth #EmployerSupport

?? **Empower Your Workforce: The Urgent Need for Employee Financial Wellness in Today's Landscape** ?? In today's economic climate, ensuring the financial well-being of our workforce is paramount. The latest findings from the KFF Health Tracking Poll shed light on the pressing concerns individuals face, with health care costs looming large as a top worry. According to the survey, nearly three-quarters of adults are apprehensive about affording unexpected medical bills and the overall cost of health care services. These concerns outweigh worries about other everyday expenses, indicating the critical need for action. It's evident that financial struggles deeply influence individuals' perspectives on the economy and their expectations from political leaders. A significant portion of the electorate, comprising those grappling with monthly bill payments, is particularly keen to hear candidates' plans regarding economic and health care issues, including the future of Medicaid. Moreover, the survey underscores the enduring popularity of the Affordable Care Act (ACA), with a majority of the public viewing it favorably. Surprisingly, a considerable segment, including a notable proportion of Republicans, supports expanding the ACA's provisions, aligning with President Biden's stance. Despite the ACA's widespread support, there remains a lack of awareness regarding its key components. While most adults prioritize maintaining the ACA's prohibition on denying coverage based on pre-existing conditions, a significant portion is unaware that this provision is integral to the law. In light of these findings, I challenge business owners and HR professionals to prioritize employee financial wellness and diligently assess the benefits landscape. It's imperative not to overlook the critical role voluntary benefits can play in alleviating employees' financial burdens. Let's commit to fostering a workplace culture that values the financial security and well-being of every individual. Are you up for the challenge? Let's ensure our workforce thrives, both professionally and financially, in the face of today's challenges. Demand more from your employer and tell them to explore not just be "happy with what we have". #EmployeeWellness #FinancialWellness #HR #BusinessLeadership #ACA #WorkplaceCulture #VoluntaryBenefits #EconomicWellbeing