Practical HR Tips, News & Advice. Updated Daily.
It’s hard to believe that members of Generation X are getting close to retirement. But, it’s true! The oldest members of this cohort are nearing their 60s. Unfortunately, many Gen Xers are feeling financially insecure and unready to leave the workforce. It’s an understandably anxious situation. A person in their mid-sixties might live another 20 […]
Reaching retirement is a bittersweet goal and achievement for many Americans. On the one hand, it represents a well-earned transition to a quieter, more relaxing life after a long career. On the other hand, it represents the loss of some measure of purpose and worth for many. But for a growing number of Americans, retirement […]
As financial concerns mount for older workers, the concept of phased retirement is gaining traction. For HR professionals and business leaders, understanding this trend is crucial, especially in light of new findings from the WTW Global Benefits Attitudes Survey. Workers Planning for Retirement According to the survey, one in three U.S. workers over the age […]
In the modern, information-based economy, human talent is incredibly important to just about any organization. Finding, recruiting, and retaining that talent is consequently extremely important as well, and businesses have many strategies aimed at retention, from creating diverse and inclusive workspaces to tenure-based bonuses and advancement schemes. But what ever happened to the ultimate corporate […]
As Baby Boomers continue to reach retirement age at a breakneck pace and the American economy continues to expand and add jobs, there’s growing concern over skills gaps and labor shortages. What’s helping to mitigate this demographic trend is the increased willingness of older workers to stay in the workforce in one capacity or another. […]
A recent survey by Willis Towers Watson (WTW) reveals a growing financial strain among U.S. workers, with 88% struggling to meet basic living costs. Nearly half of employees (46%) are extremely worried about essentials such as food, healthcare, housing, and transportation. As a result, 44% of employees report living paycheck to paycheck, and 59% say […]
With inflation continuing to drive prices upward on a broad range of products and services, financial wellness is top of mind for nearly everyone. According to a recent Bank of America survey, 62% of employees are stressed about their finances and 71% feel the cost of living is outpacing growth in their income. All told, […]
A few years ago, I was working with a company who offered a lucrative early retirement package. The CEO was shocked when only five of the 80 eligible employees signed up. Why wouldn’t more eligible employees sign up? Money, it turned out, wasn’t an effective motivator for employees who had “enough” money (whatever “enough” happened […]
The phenomenon of “unretirement,” where retirees re-enter the workforce, is gaining momentum. Recent data from Nationwide reveals that one in three current retirees are contemplating a return to work, driven largely by desires for increased social interaction and to alleviate boredom. This trend is reshaping the landscape of employment and prompting a reevaluation of workplace […]
Effective January 2024, long-term, part-time employees will become eligible to contribute pre-tax earnings to 401(k) plans. Read on to learn more. Facts This is a change from current rules which give employers the option to limit plan participation to employees who have completed a year of service (usually the preceding 12 months), working 1,000 hours […]