A recent CreditCards.com survey revealed that 59% of American credit card holders—110 million Americans—were in credit card debt before COVID-19. And it wasn’t frivolous spending. Twenty-six percent said that day-to-day expenses like groceries, child care, or utility payments were the biggest factors in their debt balances.
Tag: financial wellness
Under the best of circumstances, identity theft is a real concern for employers and employees alike. When employees’ identities are stolen, any number of life-altering outcomes are possible, ranging from stolen tax returns to new, false lines of credit being open in employees’ names. As our lives become more digital—a trend that has been heavily […]
The nontraditional employment trend has continued on into the new year—and for good reason. Contingent workers help fill the void when looking for talent on a short-term basis or project. As for workers themselves, staffing agency Rose International found that nearly half of recent survey respondents identify the top benefits of contingent work as a […]
Most of us think of “living paycheck to paycheck” as a condition afflicting the poor and low paid, but we’re wrong. Living paycheck to paycheck is a problem up and down the income ladder, and it’s one that businesses, not just workers, can and must address. Doing so isn’t just the right thing to do—it’s […]
Today, it’s normal for people to spend 40+ hours a week working. Because employees dedicate such a substantial amount of time toward the companies they represent, it’s necessary for employers to curate a workplace experience that supports their hard work and keeps them invested.
When it comes to predicting a recession, the answer is never obvious. Because the market has unexpectedly collapsed in the past, HR professionals should already be in planning mode. If your employees start asking and you don’t have a solid strategy, it’s too late.
Managing a multigenerational workforce is no easy feat for today’s Human Resources (HR) departments. While Boomers set sail into retirement, bright-eyed Millennials crop up in their place, bringing with them wildly different experiences and expectations that challenge the meaning of “workplace benefits” as HR currently knows it to be.
The financial stress that’s pressuring today’s workers is affecting their overall health, and it doesn’t help employers much either.
It’s a challenge for any company to attract top talent. This primarily rings true in a competitive labor market where unemployment sits at roughly 3.7%, the lowest in nearly 50 years.1
More and more companies are adding workplace financial wellness programs – and for good reason. Employees who aren’t worrying about financial problems on the job tend to be more focused, productive workers. A new survey says 83% of employers now offer financial wellness programs (up 20% from two years ago), and 14% plan on offering […]