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 break down the new IRS contribution limit for 401(k) plans, how to increase employee engagement in financial wellness programs, a guide to Generation Z and much more!
IRS Bumps Up 401(k) Contribution Limit for 2019
The IRS announced that the annual contribution cap for participants in 401(k) will be raised from $18,500 to $19,000 in 2019. The catch-up contribution limit on defined contribution plans remains unchanged at $6,000. Get a full summary of 401(k) updates from BenefitsPro.
Gallagher Benchmarking Survey: Winning the War for Talent is Top Priority
Employers’ number one operational priority is attracting and retaining a competitive workforce, with controlling employee benefit costs as the runner-up. And not only are employees a hot commodity, but they’re well aware of this fact and are gaining more confidence to find a work situation that fits exactly what they want.
Broke is the New Normal?
A majority of employers are offering a financial wellness program as part of their benefits package, but they’re still seeing low engagement from employees, despite increasing amounts of personal debt. Is there a disconnect between what kind of financial help employees want and what employers are offering? Read more from Employee Benefit Adviser.
Employees Feel Left Behind with HR Tech
Employees often feel like an afterthought when employers adopt new technology, and still prefer face-to-face interaction for many human resource-related tasks, especially for those related to personal matters like performance reviews, help with difficult problems and HR questions. Employers should make sure they have a feedback loop well-established before considering new digital tools and include employees on all conversations. Read more from Employee Benefit News.
What HR Leaders Need to Know About Generation Z
Generation Z is starting to enter the workplace, the first generation of true digital natives. In general, they are more ambitious, socially conscious and diverse than previous generations, and have a built-in expectation for immediate access to information. Read more about Gen Z characteristics from Workforce.
This Week in PlanSource: KronosWorks – The World’s Leading Workforce Information Exchange
If you’re in Vegas this week for KronosWorks, don’t miss PlanSource Chief Commercial Officer Nancy Sansom on Tuesday, November 6 from 1:30 – 2:30 PM for her session “Using Technology to Create the Best Benefits Experience for Employees and HR Teams.” In this session, she’ll cover:
- Best practices for investing in and using tech to enhance the benefits experience
- How leading companies stay focused on their core business and reduce risk by outsourcing one or more components of their ben admin
- Ways to inform and engage employees around their benefits decisions during open enrollment & throughout the year
Read more about Nancy’s session.