The Source: Weekly Roundup – December 9th, 2019

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Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. Start off your week on a high note with The Source!

In this week's edition, we explore financial wellness strategies, how to help employees combat holiday stress, the top benefits to attract millennials and much more! Click To Tweet

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5 Employee Benefits To Attract and Retain Millennials

Millennials now comprise the largest portion of the workforce and are in high demand as companies seek younger, tech-savvy talent. 

With record-low unemployment and a crowded recruiting field, how can your company stand out from the crowd and attract millennials? 

Take it from a millennial—here are five employee benefits that will capture the attention of your millennial candidates.

Combatting Holiday Stress, the HR Way

Weathering the personal and professional stress of the coming holiday season isn’t easy, but HR has a key role to play in helping employees get the support they may need.

relieving holiday stress with yoga

With nearly two-thirds of people surveyed by the National Alliance on Mental Illness reporting that holidays exacerbate their conditions, providing access to mental-health resources is a critical first step. Read more on how to support employees during the holiday season on HR Executive.

 

Why Great Companies Struggle to Build Great Employee Experience

Today’s leaders know that employee experience (EX) matters. As reported by Deloitte, nearly 80 percent of executives consider EX “important” or “very important.” Yet only 22 percent believe their companies excel at it. What’s responsible for this gap? If leaders are committed to putting “people over profits,” why aren’t they confident in the experience they’re providing for their people? Read more on why companies struggle to design great experiences on HR Technologist.

3 Ways to Rethink Your Financial Wellness Strategy

Most company financial wellness programs are guides on “how to slice your pie,” fixated on telling employees how to spend their paychecks. They explain how to budget, how much to save in an emergency fund and maybe — just maybe — how to pay off student loans before retirement.

employee financial wellness

Unfortunately, it doesn’t work very well. It’s hard to know if your message is heard, and it’s even harder to measure its impact. See three ways HR can rethink ‘financial wellness’ in this HR Dive review.

The Cost of Your Employees’ Fingerprints

In January 2019, the Illinois Supreme Court upheld consumers’ rights to sue companies for collecting their fingerprints without explicit consent. This precedent-setting case, Rosenbach v. Six Flags Entertainment Corp, was the first to extend the interpretation of the Illinois Biometric Information Privacy Act (BIPA) holding that individuals do not need to prove they were actually harmed by the misuse of their biometric information—only that their rights under the law were violated. Learn more on biometrics in the workplace and potential pros and cons of this evolving tech.

How to Maximize Employee Participation in HSA Plans

HSA users can put away money tax-free, and account distributions for eligible healthcare costs aren’t subject to federal income tax. Plus, these accounts offer users the option to invest and any investment returns aren’t subject to taxation. Not even the storied 401(k) promises this much bang for the proverbial buck. In fact, HSAs offer the best of pre-tax 401(k) and Roth contributions.

employee managing health savings

But, no matter how sweet a tax deal this is, for most of the over 25 million account holders, investing takes a back seat to current healthcare needs. Learn how to maximize employee contributions to HSA accounts with these tips from Benefits News.

This Week at PlanSource: Benefits Tech Mistakes to Avoid [Free Webinar]

When a company invests in a new benefits administration technology, it’s a huge commitment and not one to be taken lightly. Depending on how benefits were managed beforehand, it can be a jarring transition for employees and HR teams alike, and it’s important to have a good plan in place well in advance. But where do you start on putting together a comprehensive plan that will cover for all the potential pitfalls of using (or misusing) benefits technology?

Join us for a free HRCI- and SHRM-approved webinar where we’ll discuss the top benefits technology mistakes to avoid. We’ll delve into the most common oversights and pitfalls experienced by benefits and HR professionals regarding their ben tech, and how to plan ahead to avoid these snags in the road later on. You’ll learn how to choose the right technology provider for your company’s needs and how to use all your resources to get employees engaged, educated and ready to enroll.

Register Now

Thought Of The Week

Workers said they would rank work-life balance higher than salary when considering a job prospect – FlexJob 2018

What are you doing to promote and accommodate flexibility in 2020?

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