Don’t Be Fooled by How the Pandemic Paradox Masked Financial Health Problems
The COVID-19 pandemic caused widespread global economic chaos, complete with runs on toilet paper and headlines like “2020 Was the Worst Year for Economic Growth Since World War II.” Despite the dire circumstances, many households (on average) were doing better by a variety of financial measures. But benefits leaders need to be careful not to […]
The 2 Sneaky Ways Biased Business Models Hurt Employees
As a benefits leader, you’re in the business of expecting the best from people. But, as the saying goes: Expect the best, and prepare for the worst. During benefits buying season, that means getting prepared for the rock would-be point solutions vendors don’t want you to look under: where they have conflicts of interest with […]
How Overlooking Female Caregivers is Costing Employers
The trouble facing Americas’ (disproportionately female) caregivers is in the news: From careworker shortages to the rise of workers who support both children and aging parents. And that spells trouble for their employers: Lower retention and productivity, as well as DEI setbacks. Employers have increasingly stepped up to the plate with solutions like remote work […]
Want to Avoid Getting Caught in the Regulators’ Enforcement Crosshairs? Ditch Point Solutions
Key takeaways: The federal watchdog for financial products has put the market on notice. It will aggressively use an increasingly central weapon in its arsenal: The ability to punish practices that are “abusive.” Further, states can also bring enforcement actions using the abusive practices authority. The abusiveness legal standard is very broad. It adds risk […]
Do You Have a Dangerously Outdated Employee Benefits Strategy?
The paradigm shift is already here: Inflation, rising interest rates, and a possible recession. For employers, these require decisive action to ensure that employee benefits remain competitive, relevant–and delivering ROI. In fact, 95% of business and HR leaders who responded to The Future of Benefits Report 2023 are recalibrating their benefits strategy this year. What’s […]
Pay Periods May Go Extinct. What Employers Need to Know to Avert Disaster
Key takeways The longstanding practice of weekly or biweekly payrolls is giving way to a new normal: daily pay. Growth was slow and then fast. It is underappreciated how fast this change is coming for frontline workers. The periodic paycheck is unraveling due to new technology, employer awareness, and widespread financial stress. This change has […]
What Employers Can Do to Fight Back Against Banking Junk Fees
This article was originally published in HR Daily Advisor on May 10, 2023. Key takeaways Bank junk fees are essentially a tax that transfers from your employees’ paychecks directly into the banks’ pockets. Employers are particularly well positioned to fight back on banking junk fees: Offer a free, no surprises bank account Pre-empt payday loans and […]
4 Ways Employers Can Reduce Healthcare Costs and Accelerate Equity
This post originally published on Accolade’s website on April 25, 2023. Accolade is a trusted Brightside partner. Employers attempt to improve employee health in a number of ways. Still, most struggle to see meaningful results because they underestimate the critical role the workplace has on all facets of employee health–including physical, mental, emotional, financial, and […]
How Employers Can Support Employees Amid Disappearing Financial Cushions, and Economic Fear
The majority of Americans have money on their mind, as 83% of adults say inflation is a source of stress, and 69% are concerned with the overall economy. Not only are about 43 million borrowers impacted by the return of student loan payments, many Americans are also feeling the loss of government-supported pandemic-era benefits, and […]
How Employers Can Help Avert Unintended Dangers of Student Loan Matching Programs
Key takeaways Secure 2.0 legislation allows employers to offer retirement plan matching dollars based on student loan payments. The law creates potential dangers that employees will lose money and have less resources to weather financial shocks by diverting retirement and emergency savings to student loan payments. The law does nothing to help support employee loan […]
