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In 2022, for example, nearly 50% of HR professionals surveyed were focused on hiring and retention, a figure that dropped to 36% the following year and 32% in 2024. survey included “change management” as a choice for HR’s top challenge for the first timeand it immediately broke into the top five.
Overall job satisfaction is at one of its lowest points in 16 years Gallup’s yearly employee engagement survey tracks several metrics around engagement, including overall job satisfaction. One question in this survey asks how employees would describe their overall satisfaction at work.
The pharmacy chain is the latest organization to take advantage of a new federal provision that allows employers to contribute to workers’ retirement accounts based on payments they make toward their student debt. of their income to retirement over a three-year period, on average, compared with a 5.7%
Surveys and open dialogues can pinpoint areas of concern, allowing managers to act before small problems grow bigger. Having clear succession plans also ensures smooth transitions when key figures leave or retire. Offering resources such as counseling, stress management programs, and work-life balance policies can help reduce burnout.
As we approach 2019, major shifts in the work environment will continue to affect the ways companies do business. Companies that are looking to attract, engage, and retain top talent should leverage these trends to create workplaces where employees thrive.
Open enrollment is a designated period each year when employees can review, adjust, or select their benefits, including health insurance, retirement plans, and other perks their employer offers. Their buy-in will demonstrate an organizational commitment to the strategic direction. Is your benefits package robust and competitive?
Nearly one-third of small businesses that tried to hire last year werent able to find employees who were a good fit, Gustos latest State of Small Business survey found. Even as overall hiring and quit rates slowed in 2024, their challenges havent let up.
The organization found, for instance, that 42% of hiring managers surveyed said they consider age when reviewing resumes, and one-third acknowledge a bias against senior candidates. These can include phased retirement options, part-time work for retirees and alumni networks. It’s an approach that i4cp has found is largely lacking.
survey data. Nayya , a platform for personalized health and wealth guidance, has leveraged Workday’s platform to build apps for personalized benefits selection, support, claims management and retirement/leave planning. in data science to understand. The apps will be available on the Workday Marketplace.
When appropriate, look beyond employee surveys to quantitative metrics like turnover and recruiting costs. Strategic HR requires time and investment, but it shouldnt become a burdensome expense or liability. Align HR Services with Business Objectives: You can advocate for employee well-being while still emphasizing ROI for the business.
Traditional benefits like health insurance, retirement plans, and paid time off serve as hygiene factors or factors that help prevent employee dissatisfaction. According to a Census.gov survey, 86% of private-sector employers offer employer-sponsored health insurance. This change will go into effect January 2025.
Disabled workers often face barriers before they can even apply for a job, which continues once they’re in the workforce, and one in three disabled workers experience discrimination in the workplace, according to an Indeed survey of 2,078 workers, shared exclusively with HR Brew. Of those surveyed, 19% identified as having a disability.
Hire-to-Retire (HTR) refers to the comprehensive employee lifecycle management process that spans from the moment an individual is recruited until they retire or exit the organization. The Stages of the Hire-to-Retire (HTR) Process HTR involves several stages that align with an employee’s career trajectory.
Quick look: It’s National Retirement Security Month, making it the perfect time for brokers to equip clients with the tools and resources needed to help their employees plan for a secure financial future. Retirement is a hot topic for all staff. workers is reaching retirement age. workers is reaching retirement age.
HiBob HR leaders use HiBob’s powerful enterprise HR software, Bob , to manage all aspects of the employee lifecycle —from recruitment to retirement—within a single, user-friendly platform. Prospective users are encouraged to conduct their own research to make the best decision for their organization.
BlackRock CEO Larry Fink addressed the retirement crisis in his annual letter to investors on March 26, making the case that Americans should work later into their lives in light of demographic and economic factors straining the system. Fink challenged “our anchor idea for the right retirement age—65 years old,” in light of these trends.
Quick look: SHRM recently released its annual employee benefits survey depicting what benefits remain high-priority and which are trending upward. As one of the longest-running annual surveys covering employee benefits , it’s been a valuable resource when making decisions about offerings. of the total U.S.
As the Baby Boomer generation reaches retirement age in record numbers, organizations face a significant challenge in maintaining their expertise pipelines. From retirement to renewal “Peak 65” refers to the unprecedented number of Americans hitting the traditional retirement age of 65.
Rahlan drew a direct connection between workers’ wages and wellness, citing a separate survey Dayforce conducted in partnership with SSRS that found employees making less than $50,000 a year were more likely to rank their overall health as “poor or very poor.”
Only 36% of 3,450 C-suite leaders surveyed by the consulting giant have scaled generative AI solutions within their organization, and only 13% have gotten real value from those solutions, per a report released last month.
With the right dashboards in place, you can zoom in on that division to analyze engagement survey results, performance scores, or manager feedback. For instance, you might spot that a spike in attrition happens six months after onboarding in a certain division. This could reveal that employees arent getting proper on-the-job support.
Some 54% of employees surveyed by Betterment in October 2022 said financial anxiety has impacted their ability to focus at work. And yet, just 2% of employers offer emergency savings accounts (ESAs), according to the Society for Human Resource Management’s 2023 Employee Benefit Survey. Like the Road Runner from Wile E.
As Social Security retirement benefits remain a hot topic in 2025, HR professionals have a unique opportunity to guide employees toward financial security. This guide explores how HR can integrate Social Security payments into comprehensive retirement planning, addressing employee concerns and boosting workplace satisfaction.
This involves reviewing hiring pipelines, internal talent pools , and potential challenges like retirements or high turnover in certain departments. GET STARTED Step 4: Analyze supply Assess your current and future talent availability to identify any mismatches between supply and demand.
Gallagher’s 2024 Well-Being and Voluntary Benefits Survey illustrates what most employers already know: employees have higher expectations when it comes to well-being benefits. According to the survey, employees rank their financial well-being as the lowest, and 92% want more resources.
“As Baby Boomers and Gen Xers get closer to the ends of their careers, we’ll see a bigger emphasis from employees and employers on financial wellness and retirement preparedness. In 2024, financial wellness will be front and center as employers take a more active role in ensuring their employees are financially prepared to retire.
A Monster poll found that 80% of workers they surveyed were quietly hired. Moreover, skilled workers are retiring at a rate faster than younger workers can replace them. Over the next decade, one-third of skilled trades professionals will retire faster than younger workers enter the market to replace them.
You will also want to state whether or not these reduced hours will change the employees overall tenure at an organization (as this could impact retirement). Compare your average scores from the three different time periods when you sent out the surveys to identify any trends.
For the past twenty years, the Society for Human Resource Management (SHRM) has been publishing an employee benefits survey. Evren Esen, director of survey programs at SHRM, shares some of the interesting results. If you want to learn more, the full survey is available online.
Quick look: 401(k)s are the most popular retirement plans in the U.S. When people think of a retirement savings plan, many think of a 401(k). 401(k)s help employees prepare for a comfortable retirement and grow their nest egg faster than if they were to put away funds in a traditional savings account. Who has a 401(k)?
Services most frequently outsourced include retirement planning (70%), COBRA administration (69%), employee assistance programs (64%), voluntary benefits administration (57%) and spending account administration (47%). Note: Sapient’s 2023-2024 HR Systems Survey will be live in May and June. We urge you to sign up today.
This capability ensures that the organization is prepared for changes, such as retirement waves or skill shortages, by planning recruitment and training accordingly. Collect Relevant Data Gather data from various sources, including employee surveys, performance reviews, and HR systems.
You can also review pertinent information from employee feedback surveys and exit interviews. Digging into the data from internal surveys and exit interviews should uncover the areas that make employees feel connected and satisfied in their work and those that don’t. Employee engagement.
Microsoft’s decision to retire these key Viva components affects thousands of organizations that have embedded these tools into their daily workflows. Viva Topics : A tool for organizing and sharing knowledge, retiring on February 22, 2025. Viva Goals : The platform for setting and tracking goals, retiring on December 31, 2025.
How HR can help Recession concerns Economic uncertainty looms large, with only 29% of CEOs expressing optimism about the global economy, according to the summer 2024 release of Fortune/Deloitte’s CEO Survey. Inflation concerns also increased, rising from 27% to 45% in the most recent edition.
No matter how good the intentions are, employee development programs are hard to plan and implement because of the following reasons: Managers are too busy: In a survey by Wrike, 98% of managers spend 40%-87% of their work week on communications alone (6-15 hours a week on meetings, and 62% spend 2-4 hours daily on emails).
Retirement benefits, along with medical benefits , are rated as important considerations when candidates are evaluating a new job offer. Only 27% of employees surveyed said they definitely feel confident that they’ll save enough to cover their expenses in retirement. Advertisement - The second approach is direct listening.
HR must ensure they receive the correct pay and benefits, such as health insurance, retirement plans, wellness programs, and leave credits. They implement team-building activities, recognition programs, and employee surveys to promote employee engagement. HR is responsible for recruiting people who match the company’s values.
The survey defined “robots” to include a range of robotic and automation technologies like human-like robot servers, automated robotic arms, and self-service kiosks and tabletop devices.)
An employee satisfaction survey can help you measure employees level of contentment with their job and organization. Conducting regular satisfaction surveys should be part of every organizations people strategy to create a great place to work. Will all employees take the survey, or only certain groups or departments?
In a 28-question financial survey by the World Economic Forum, most respondents could only answer about 50% of the questions. Nearly 3 in 4 workers say they can only meet their most basic living expenses According to a survey from Resume Now, 73% of respondents claimed they couldnt afford anything beyond their basic living expenses.
Conduct surveys or interviews to gather data from employees, managers, and other stakeholders about their perceptions of skills and capabilities within the organization. Upcoming Retirements: Identify employees nearing retirement age and plan for knowledge transfer.
HR can achieve this through: Conducting employee surveys and feedback sessions to understand the perception of the company’s culture and work environment. Customizing benefits packages to cater to the diverse needs of employees, such as health insurance, retirement plans, paid time off, and flexible work arrangements.
In a survey of 2,000 Americans, MarketWatch found that 88 percent of respondents reported feeling some form of financial strain and 65 percent felt that finances were the top source of stress in their lives. QPA’s Financial Wellness Survey shows that 45 percent of Americans allocate one hour or more to manage their personal finances.
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