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In a tight labor market, a candidate’s potential commute can make a job more or less attractive. HumanResources reports that a quarter of employees surveyed had left a job because of the commute. When looking at just Millennials, the number jumps to one third. Employees can be choosy, selecting a job that offers more of what they want, and that means less of a commute. Companies can work around this by offering transportation amenities, flexible scheduling or more remote working opportunities.

 Forbes has a recent interview with Tamara Littleton, founder of The Social Element, who’s successfully built a remote team at the social media management agency. She argues culture starts at the top. By treating people well, which includes offering remote opportunities, it sets a tone for the whole company. Creating opportunities for in-person meetings and gatherings balance any isolation that may happen. Then, more regular face-to-face communication, essential to build trust and teamwork, comes via video calls when email might otherwise be the default. Newsletters and webinars keep the team connected and ensure important messages aren’t missed. She can point to the success of her ideas with the hire of many senior team members, willing to sacrifice some pay for more flexibility. 

When implementing remote-friendly strategies, there are plenty of success stories to draw inspiration. Entrepreneur has some tips from Zapier, a company that has been on the forefront of offering alternative working arrangements. In fact, they offer a “de-location” package to encourage employees to move from the cost-prohibitive Bay Area. Tools like Slack facilitate real-time communication, with tools to find ideal meeting times across time zones and channels themed for non-work related conversations. Bots regularly and randomly pair up employees to get a chance to know one another during a brief call. A semi-regular retreat brings people together in person and impromptu video dance parties make slow days more fun.

The takeaway? Being proactive and creative to build remote work policies can get you the employees you want, wherever they may be.

HumanResources
Travelling to and fro office may drive your employees to quit
https://www.humanresourcesonline.net/travelling-to-and-fro-office-may-drive-your-employees-to-quit/

Forbes
How To Build A Culture Of Trust In A Large Remote Team
https://www.forbes.com/sites/brettonputter/2018/10/04/how-to-build-a-culture-of-trust-in-a-large-remote-team/#5d4e5d23188c

Entrepreneur
This Company Hosts Virtual Dance Parties to Help Its 170 Remote Employees Feel Connected
https://www.entrepreneur.com/article/320411

by Bill Olson

Originally posted on ubabenefits.com

When evaluating employee benefits, essentials such as health and dental plans, vacation time and 401(k) contributions quickly come to mind. Another benefit employers should consider involves subsidizing learning as well as ambitions. Grants and reimbursements toward advanced degrees and continuing education can be a smart investment for both employers and employees.

Educational benefits are strongly linked to worker satisfaction. A survey by the Society for Human Resource Management revealed that nearly 80 percent of responding workers who rated their education benefits highly also rated their employers highly. While only 30 percent of those rating their higher education benefits as fair or poor conversely rated their employer highly.

These benefits are popular with businesses as well. In a survey by the International Foundation of Employee Benefit Plans, nearly five of six responding employers offer some form of educational benefit. Their top reasons are to retain current employees, maintain or raise employee satisfaction, keep skill levels current, attract new talent and boost innovation and productivity. Tax credits offer additional advantages. Qualifying programs offer employers tax credits up to $5,250 per employee, per year.

At the same time, companies should offer these benefits with care as they do pose potential pitfalls. Higher education assistance can be costly, even when not covering full costs. Workers taking advantage can become overwhelmed with the demands of after-hour studies, affecting job performance. Also, employers would be wise to ensure their employees don’t promptly leave and take their new skills elsewhere.

When well-planned, educational benefits will likely prove a good investment. Seventy-five percent of respondents to SHRM’s survey consider their educational-assistance programs successful. To boost your employee morale, skill levels and job-satisfaction scores, consider the benefit that may deliver them all, and more.

Find out more:
IFEBP: Why Educational Assistance Programs Work
EBRI: Fundamentals of Employee Benefit Programs

By Bill Olson, VP, Marketing & Communications at United Benefit Advisors
Originally posted on UBABenefits.com

Fear of missing out—is more than just a hashtag. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence.

But one area where #FOMO really does you a disservice? No one is afraid of missing out on the benefits of life insurance. And why should you? There are so many other things competing for your dollars. That said, do you know what you’re missing out on by not having it? Are you making one or more of these mistakes?

You think life insurance is much more expensive than it actually is. Three in four Millennials overestimate the cost of life insurance—sometimes by a factor of 2, 3, or even more! (2017 Insurance Barometer Study by Life Happens and LIMRA) Imagine being able to afford life insurance for the cost of that daily latte, and for less money than your avocado toast habit!

You think you can’t qualify for life insurance. Nothing could be further from the truth, and yet four in 10 Millennials think this is true, according to the same study! Younger candidates have an easier time getting life insurance because they are generally healthier.

You’ll turn to GoFundMe if something goes wrong. In an era where social networking does all things, it’s natural to think that your loved ones can crowdfund their way to solvency after something happens. But life insurance benefits aren’t taxed like GoFundMe proceeds are, and life insurance has a defined, immediate payout that GoFundMe does not. Plus, your loved ones don’t need the stress or the stigma of having to ask others for help.

You’d rather spend that money on other things. In fact, one study recently suggested that many Millennials are more concerned about planning their next night out with a significant other than planning for their financial future.  But sensible steps now will make for a better future with that significant other long past tomorrow night’s date.

You don’t care because you don’t have people depending on you for money. Take a look at your student loans. Were any of them private loans? Who is liable for them—in full, often immediately—if something happens to you? There are other debts you may need to consider as well—anything where you have a co-signer.

You keep saying you’ll get around to buying insurance, but don’t. Millennials are getting married, having families! Young families have enough to worry about with daycare costs and increased medical costs, right? Well, imagine what your young family would do about those bills if something happened to you. Could your spouse pay the rent or mortgage without your income?

You tune out when “adulting” gets too hard. One recent college grad recently confessed to me that he hadn’t elected into any of his employee benefits at the dream job he got in his field because “my dad takes care of that.” He was shocked to learn what he was missing out on!

Yes, adulting *is* hard, but a sound financial plan that includes retirement and insurance coverage (health, life, and disability insurance are all part of that plan) goes a long way to making sure that you don’t look back on your younger years and think, “Oh, why didn’t I start this sooner?” Plus, you don’t have to do it alone—that’s what insurance agents are for. They will sit down with you at no cost, or obligation, to discuss what you need and how to get coverage to fit your budget. But then, signing up—that IS on you. Don’t miss out.

By Helen Mosher
Originally Published By Lifehappens.org

Being catapulted into the adult world is a shock to the system, regardless of how prepared you think you are. And these days, it’s more complicated than ever, with internet access and mobile devices being must-have utilities and navigating tax forms when they aren’t as “EZ” as they used to be.

Maybe you’re still living with your folks while you get established. Or maybe you’re looking forward to moving out of a rental and into a house or to tie the knot. Life insurance might be the last thing on your list of things to deal with or even think about. (You’re not alone.) But here are five things you might not know about life insurance—that you probably should.

1. Life insurance is a form of protection. If you Google “life insurance” you’ll get a slew of ads telling you how cheap life insurance can be, without nearly enough information about what you need it for. That’s probably because it’s not terribly pleasant to think about: this idea that we could die and someone we care about might suffer financially as a result. Life insurance provides a financial buffer for the people you care about in the event something happens to you. Think just because you’re single, nobody would be left in the lurch? Read the next point.

2. College debt may not go away. Did someone—like your parents—co-sign your student loans through the bank? If so, the bank won’t discharge that debt upon your death the way that the federal government would with federal student loans. That means your parents, or others who signed the paperwork, would be responsible for paying the full balance—sometimes immediately. Don’t saddle them with the bill!

3. If you don’t know anything about life insurance, it’s probably better if you don’t buy it off the internet. It’s what we’re used to: You find the thing you need or love on Amazon or Ebay or Etsy, click a few buttons, and POOF. It arrives at your door. But life insurance is a financial planning product, and while it can be as simple as a 20-year term policy for less than a cup of coffee each day (for real!), going through your options with an insurance professional can ensure that you get the right amount for the right amount of time and at a price that fits into your budget. And many people don’t know that an agent will sit down and help you out at no cost.

4. Social fundraising only goes so far. This relatively recent phenomenon has everyone thinking that they’ll just turn to GoFundMe if things go awry in their lives. But does any grieving person want to spend time administering a social fundraising site? The chances of going viral are markedly slim, and social fundraising sites will take their cut, as will the IRS. And there is absolutely no guarantee about how much—if any—money will be raised.

5. The best time is now. You’ll definitely never be younger than you are today, and for most of us, the younger we are the healthier we are. Those are two of the most important factors for getting affordable life insurance coverage. So don’t delay.

By Helen Mosher
Originally Posted By www.lifehappens.org

When you hear the term “paid parental leave”, what do you think of? Here in the U.S., paid leave benefits are somewhat of a luxury. Although the Family and Medical Leave Act (FMLA) has made it possible for parents working at companies with 50 or more employees to secure 12 weeks of unpaid leave, the U.S. is one of only three countries on a list of 185 that does not mandate a period of paid parental leave. This leaves the country ranked below Iran and Mexico, who both offer 12 weeks of paid parental leave. On the other end of the spectrum, employees in the UK benefit from up to 40 weeks of paid leave.
 
As a result of having no mandated paid parental leave policy, approximately a quarter of U.S. women who become pregnant while employed quit their jobs upon giving birth, one third of women are forced to borrow money or withdraw from savings to cover time off from work, and 15% utilize public assistance. The June 2015 Enforcement Guidance on Pregnancy Discrimination from the Equal Employment Opportunity Commission (EEOC) was the first legislation to make a case for offering equal parental leave to mothers and fathers, setting a new precedent for the evolution of the paid leave benefit.
 
Why Should You Offer Paid Parental Leave to Employees?
The EY & Peterson Institute for International Economics recently released a study revealing that 38% of millennials would move to a new country if they would be afforded better paid parental leave benefits. Millennials now make up the largest demographic in the American workforce, and companies will need to increasingly take statistics like this into account when building benefit plans that will attract and retain top talent.
 
Aside from talent acquisition, the study goes on to show the positive impacts a paid parental leave benefit can have on keeping women in the C-Suite, as men who would usually be considered secondary caregivers take advantage of the time off and allow women to get back to work more quickly. In addition, change.org, who has implemented a generous paid parental leave policy, observed that dads who took leave in their company encouraged other new fathers to take advantage of the benefits as well, creating a culture of safety in which to utilize leave and invest more fully in their family life.
 
Ultimately, employees are happier and are empowered to do better work when they are allowed to honor their priorities. Whether this means a new mother is allowed to take stress-free, paid time off to bond with her child, or a father takes advantage of leave to be with his family or allow his partner to return to work, the ability to balance work and life is of the utmost importance to younger generations.
 
Case Studies – Top Companies Doing it Right
 
American Express
American Express recently announced that they were changing their paid parental leave policy from three months for primary caregivers and two weeks for secondary caregivers to five months of paid parental leave for all full-time and part-time employees.
 
All genders are eligible for the benefit, and employees may become parents via birth, adoption or surrogacy. In addition, American Express offers up to $35,000 for adoption or surrogacy fees with a limit of two events.  A lifetime maximum of $35,000 is also allotted for fertility treatments.
 
The company also announced a unique supplemental benefit of 24-hour lactation consultants available to nursing mothers, and a breast milk shipment program available to mothers traveling for business who need to send milk home.
 
Bank of America
Bank of America offers 16 weeks of paid leave for biological and adoptive parents. A unique feature of their policy allows parents to take leave any time during the first year of the child’s life, enabling partners to take overlapping or subsequent time off, whichever best fits their family’s needs. The company values providing this option, as they see almost half of parents in today’s society raising their kids together at home while both holding jobs.
 
The banking giant also tries to make life after baby easier for working parents by offering a more flexible work-from-home program and providing $240 in monthly childcare reimbursement for employees whose household income comes in under $100,000 annually.
 
Netflix
Netflix took the spotlight when it comes to paid parental leave benefits when they announced that the company would offer unlimited paid leave with no loss of benefits during the first year after a child’s arrival. Leave can be taken at any time during the year, and employees may choose to work part-time, or come back to work and then leave again if desired.
 
Netflix chief talent officer, Tawni Cranz, said of the monumental decision, “Experience shows people perform better at work when they’re not worrying about home.”
 
Twitter
While Twitter offers 20 weeks of paid leave for mothers and 10 for fathers and adoptive parents, the most innovative benefits this company offers come through its pre and post-natal programs for parents. Twitter offers quarterly “New Moms and Moms-To-Be” roundtables, a Mommy Mentor Program, Working Mom lunches and most lately, “Dads on Leave” roundtables. In-house support for employees when it comes to family life provides a safe place to embrace new roles as parents while still progressing in their careers.
 
How Can You Adopt This Benefit?
Job participation by women in peak years is declining, and paid parental leave is a way to help remove barriers in the workplace that leave women in only 5% of CEO positions at Fortune 500 companies. Karyn Twaronite, EY global diversity and inclusiveness officer, said, “Companies that view parental leave as something solely for mothers are becoming extinct, as more modern and enlightened companies are realizing that many people, especially millennials, are even more interested in co-parenting given most are part of dual career couples.”
 
If your company is unable to keep up with the generous paid leave packages larger businesses can afford, consider taking a page out of Twitter’s book and offering mentoring programs and support groups for new parents. Budget for childcare reimbursement costs like Bank of America. Even smaller changes that are made thoughtfully, with the employee in mind, will increase the appeal of your benefits package.
 
As the benefits landscape changes with shifting demographics, consider carefully how offering paid parental leave could positively impact your employees, and ultimately, your bottom line as workers are motivated to work harder and smarter, knowing things are taken care of at home. 
 
By Kate McGaughey, eTekhnos

 

As an increasing number of Baby Boomers retire and leave the workforce, millennials are positioned to take on more leadership roles in the business world. Millennials bring with them a unique and evolving knowledge of technology and innovative HR practices that differ greatly from their Baby Boomer predecessors. As managerial roles are transferred from the Baby Boomer generation to millennials, forward-thinking businesses will create plans that adapt to the innovative processes and practices millennials bring to the table. Worthwhile risks and changes must be made to ensure companies keep up with their rapidly evolving competitors. To successfully transition millennials into top management positions, here are a few factors companies should keep in mind.

Millennials are technology-driven.

75% of millennials believe that technology helps them operate more efficiently in the workplace. Millennials are the first generation to truly incorporate technology as an imperative tool for maximum efficiency. Millennials look for efficiency, digital communication, and mobility founded in technology in the workplace, and use of technology helps facilitate innovation, engagement and clarity.  Baby Boomers in management who are getting ready to hand over the reins to their younger counterparts can facilitate a smooth operational transition by embracing new systems and processes led by technology.

Efficiency is key.

Millennials have grown up in a fast-paced culture where new technologies are constantly being developed, and because of this they find it natural to lean on technology to efficiently tackle daily work tasks. As opposed to previous generations, millennials are used to instant gratification and desire work to be completed in the most practical and timely manner. One example of state-of-the-art technology is automated task management systems which allow you to complete work ahead of time. For example, social media scheduling platforms like Hootsuite allow you to schedule posts ahead of time and select when you want them to post automatically. The automation process creates a more efficient way to complete time-consuming, yet simple tasks.  Another task management tool is Asana. Asana provides a single outlet for companies to manage projects, assign tasks and track progress, all through one system. Asana ensures a safe and organized portal for your company to complete tasks in the most practical manner.  Invest time in researching technological tools your millennial employees find helpful in their day-to-day work, and start implementing them now.

Digital communication is here to stay. 

Communication is vital to facilitating an engaged company culture. Being able to communicate well with not only clients, but with employees, is crucial. Millennials have grown up utilizing technology as a main form of communication, and they have mastered the art of making it work for them in the office as well. The mass amount of information that must be learned when implementing a new technology company-wide can be overwhelming, and keeping track of relevant news within your company can be difficult. To create an organized and effective internal communication strategy many companies are turning to social intranet software. This type of software creates a portal that keeps all of the company’s internal information in one place making mass communications easier to streamline. Digital communication fosters more efficient and timely transfer of information and problem solving. The impact of incorporating digital technology reaches beyond the office and can even help you prepare your employees to be social media advocates for your brand in their off time.

Mobility is the new norm. 

One of the most attractive assets of technology is mobility. Technology has completely disrupted the workplace by allowing employees to work anywhere at any time. Employees no longer have to complete their typical workday in the office. Working from home or remote locations provides room for great work/life balance and creative inspiration. A prime example of an effective technology when it comes to remote work and flexible hours is video conferencing through apps like Skype or FaceTime. By incorporating video conferencing, companies can easily expand their client base country wide and even internationally, at a much more cost effective price.

As millennials continue to take over the workforce and we see more innovations and improvements made to current technology, be sure your company stays up to date on the latest trends. Ensuring your employees are engaged with and fluent in technologies that are being globally implemented is vital to your company’s success in this digital age.

I just want to let you know that YOU ARE AWESOME. You’re always on top of things and answer questions promptly and in detail. I love working with you."

- Office Operations Administrator, IT Consulting Firm

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