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
Employers attempt to improve employee health and reduce healthcare costs 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 social wellbeing. As a result, many well-intentioned employers invest in programs focused on […]
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 […]
These 4 Trends Will Define the Future of Employee Benefits
Note: This post originally published in Fast Company on January 4, 2023. As record inflation continues, evictions pile up, healthcare costs continue to rise, layoffs hit the tech and other industries hard, and the pause on student loan repayment is about to expire, many Americans are struggling financially. As many as seven in 10 may […]
Secure 2.0: Here’s How Employers Can Choose the Best Workplace Savings Approach for Employees
Note: A version of this post originally published in BenefitsPro on January 19, 2023. It is reprinted with permission from BenefitsPro. Key takeaways The Secure 2.0 retirement law introduces a new workplace emergency saving option to an already confusing landscape of approaches, from savings coaching to workplace savings accounts. Workplace savings programs need real solutions to […]
How Helping Employees Improve Credit Scores Can Improve Your Bottom Line
Learn how employers can improve their bottom line by helping employees improve their credit scores with Financial Care and holistic financial wellbeing programs like Brightside.
Always Look On the Brightside: How the fintech leader Brightside is bringing financial care to working families
How employers can keep employees safe from predatory financial practices
Prior to the COVID-19 crisis, 30% of Americans reported that they had more debt than was manageable. The economic impact of COVID-19 has led Americans to seek credit at increasing rates, with 43% of U.S. Adults reporting that they, or someone in their household has lost a job or taken a pay cut due to […]
