Happy Friday! This week we’ll be talking about financial wellness and participant education. Benefits consulting firm Buck explains how financially and physically fit employees can improve the workplace environment, job satisfaction and employee retention in a recent survey conducted with over 250 employees. Next, discover the recent trends to heighten your plan design. MediKeeper says plan sponsors who stay up-to-date with these trends remain relevant in the always competitive industry. Also, an Employee Benefit Research Institute (EBRI) report discloses the challenges employers face when offering financial wellness features; Corporate Insight reports many employees do not have employer-sponsored financial wellness programs, but believe their employer should offer one; and UnidosUS and the National Institute of Retirement Security discuss the lack of retirement readiness with Latino workers. All this and more on this edition of PLANSPONSOR Weekend.
Findings in a Buck survey demonstrate that a failure to creatively invest in employee wellness can result in many adverse consequences for the success and sustainability of a business.Read more >
MediKeeper suggests using available data to better personalize programs, using social interaction to encourage wellness program participation and making virtual programs available to reach more of the workforce.Read more >
Employers surveyed by the Employee Benefit Research Institute (EBRI) noted that they face many challenges in offering financial wellness initiatives.Read more >
Of the 1,544 employees surveyed by Corporate Insight, a mere 221 (or 14%) indicated that their employer offers programs or resources to help improve financial well-being.Read more >
In addition, state-backed retirement savings plans can assist with providing quality savings opportunities to working Latinos who are not covered by an employer-sponsored retirement plan.Read more >
