Annual benefits enrollment must undergo a shift to effectively embrace a work-from-home environment.
By Karen Frost and Kristie Marshiano
Annual enrollment is quickly approaching, and with nationwide shutdowns being reinstated and most of the workforce at home, it’s no surprise that this year’s enrollment will look different than usual. COVID-19 has caused a shift in employer plans and priorities, triggering many to reevaluate their approach to ensure it can be executed successfully in a time when most everything requires virtual or socially distanced settings.
New research finds an increase in the desire and delivery of financial well-being benefits.
By Tom Kelly
In this pandemic economy, corporate budgets are being squeezed. But the need to provide both competitive benefit programs and cost-effective solutions is more important than ever. In response to COVID-19, many employers are looking to add benefits that can support emerging employee needs or fill gaps in current offerings.
COVID-19 has brought a new perspective to paid family and medical leave.
By Jamie Kalamarides
Eleven years ago, America began its slow but steady recovery from the Great Recession. By 2018, the economy was on track to surpass the 1991–2001 boom as the longest on record. 2020 began with an unemployment rate of 3.6 percent, and on January 31, the CDC’s total number of reported novel coronavirus infections in the U.S. stood at two. Three months later, unemployment had skyrocketed to 14.7 percent, 23.1 million Americans were out of work, and reported cases of coronavirus in the U.S. had risen to 1.5 million.
New research shows the advantages of offering well-being benefits to the multigenerational workforce.
By Wendy Edgar
The rise of the multigenerational workforce brings a variety of opportunities for organizations and employees alike, especially when it comes to benefits offerings. What’s more, amid the current COVID-19 pandemic, people are looking to their companies for tools and resources to support their lives both inside and outside of work.
Embracing mindfulness training in the workplace can reduce stress, increase collaboration, and improve focus.
By Tara Antonipillai
Stress is unfortunately a part of everyday life, and the current uncertainty only makes it more present. The American Psychological Association polls Americans each year on their stress levels and what causes them. In 2019, as in prior years, work was at the top of the list, with 60 percent of those polled reporting that work causes high levels of stress.
The bswift Leadership Team takes a closer look at market trends that further underscore the need for this transformative employee experience.
Trend #1: One-stop shop benefits experience
Sanjiv Anand, President and Chief Executive Officer at bswift
Organizations are expanding the scope of their benefits offerings to attract and retain top talent.
By Marta Chmielowicz
Faced with increased competition for talent and a diverse labor pool, organizations are pressured to provide benefits programs that meet the needs of all their workers. While health and retirement benefits are still the norm, SHRM’s 2019 Employee Benefits survey reveals that today’s top employers are moving beyond standard offerings in order to attract and retain a competitive workforce.
An individualized approach to health and well-being benefits can drive engagement in a multigenerational workforce.
By Marta Chmielowicz
Facing rising costs of living and significant transformation in the world of work, today’s employees are more stressed than ever. According to Welltok’s Well-being Wake-Up Report, 64 percent of all employees say they feel stressed at work—including 63 percent of baby boomers and 57 percent of millennials. In fact, 35 percent of all employees and 50 percent of millennials have seriously considered switching jobs due to stress.
Ally Financial is redefining its benefits program to meet the needs of the modern family.
By Kathie Patterson
An organization’s culture and purpose are key driving factors in attracting and retaining talent, and this is particularly the case with top millennial and Generation Z workers. While all employees may want the same things regardless of age, younger generations are more vocal about what they need from their employers and have called on companies to be more thoughtful and willing to evolve with today’s changing society.
Organisations are starting to prioritise the holistic well-being of their employees, adapting their cultures and benefits to support mental health wellness.
By Simon Kent
Awareness of mental health in the workplace has undoubtedly grown over the past few years. Headlines have been made and even Britain’s own royal family has contributed to the discussion. According to Sophie Hennekam, professor of management at Audencia Business School in France, the World Health Organisation has estimated that mental health conditions cost the global economy $1 trillion in lost productivity each year. In Europe, employees with mental disorders report 3.1 absenteeism days per month compared to one day per month among those without mental health issues. However, despite increasing awareness and the high cost of neglecting mental health, “Surprisingly little is known about how individuals with mental health conditions navigate the workplace,” she says.
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