A Dollar a Day Towards Your Employees' Student Loans Goes a Long Way

Nov 15, 2018 11:36:49 AM / by Corinne Thomas posted in Retaining Talent, Differentiation

One common misconception of Student Loan Assistance is that it is a costly benefit. Employers often think they need to offer upwards of $100 or more each month to rollout this type of benefit program. We're here to tell you that's not the case. By implementing best practices when launching a Student Loan Assistance program, employers can see significant employee engagement that costs the company less than the free coffee offered in the break room each month. 

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Why Offer a Student Loan Assistance Benefit?

The original version of this post was written by Kyleen Englestad and published on Marsh and McLennan Agency's blog. You can read the original post here

According to the U.S. Census Bureau, only a third of employees who have access to a retirement program are actively using it to save for their future. Many either don’t see the benefit at this stage in their lives or they simply can’t afford to contribute until they have paid off their student debt.

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The Benefit That Won't Burden Your HR Team

With 2019 right around the corner, your orginization may be thinking you missed the boat on adding some new benefits to next year's offering. While that may be the case for other benefits, it doesn't have to be the case for Student Loan Assistance. Peanut Butter has streamlined the process, so you can begin offering it today (it's true - which is one of the reasons we have a 5-star rating on G2 Crowd)!

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One Benefit Will Make Millennials Stay At Your Company 36% Longer

The original version of this post was written by Melanie Curtin and published on Inc.com. You can see the original version here

It used to be that when you went to college, you were relatively certain you'd be able to repay your student loans within a decade--or even less.

A recent survey, however, showed that 60 percent of Millennials (those now 19-35) don't think they'll be able to pay off their loans until they're in their 40s.

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A Winning Tool in the War for Talent

Hiring is hard. While this has always been the case, it is ringing true now more than ever. As the unemployment rate nears its lowest point in 50 years, the number of people leaving their jobs continues to go up. Workers feel confident that if (read: when) they leave their current company, they'll be able to find better pay and/or a better position elsewhere. This has not only made it increasingly difficult for employers to retain high-performing employees, but it's also create additional competition in getting top talent to accept offers. 

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Make the Most of Your Student Loan Assistance Program

As we covered in our last post, Peanut Butter makes it extremely simple for employers to begin helping employees manage their student debt by offering Student Loan Resources. When companies provide access to Student Loan Resources, employees are able begin taking charge of their student loans immediately. However, when companies are ready to accelerate their impact, they can begin offering Student Loan Repayment with a few clicks of a button through their Peanut Butter Dashboard.

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The Next Generation of Workers Want New Benefits

Jul 26, 2018 1:44:24 PM / by Corinne Thomas posted in Differentiation, Retaining Talent, Recruiting

With Millennial workers now making up the vast majority of the workforce and the post-millenial generation beginning to make an entrance, there's no surprise that half of employees are unsatisfied with benefits provided to them by their employers. Companies have tried to add additional perks, such as trendy office spaces or Friday happy hours, to round out their benefits package and satisfy the younger members of their organizations. 

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The Chicago Tribune Highlights Student Loan Assistance

Peanut Butter client, Rise Interactive, spoke recently with Alexia Elejalde-Ruiz of the Chicago Tribune about why they decided to  launch a Student Loan Assistance program. Read what Nicole Skaluba, Rise's Director of Employee Services, had to say in an excerpt from the article below or view the original version of the article here

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Calabrio Uses Student Loan Repayment Program to Positively Impact Employees

The following post was originally published on Calabrio's blog by Debbie WIlliams, Calabrio's Human Resources Director. You can view the original article here.

As a contact center technology provider where Voice of the Employee (VoE) importance is ever increasing, employee engagement and satisfaction are core focuses for Calabrio’s product strategy and development efforts. This focus on the employee, however, permeates everything we at Calabrio do. That’s why we strive to continually seek out and put in place innovative programs that positively impact, motivate and bring great work-life balance to our own employees.

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What is Financial Wellness and Why It's Important to Your Employees

Jun 26, 2018 5:17:08 PM / by Carolyn Kick posted in Financial Planning, Retaining Talent

The following is a guess post from Carolyn Kick, Marketing Manager at Launchways.

 

In today’s changing workforce, employers are reconsidering how they approach employee benefits. In the efforts to attract and retain top talent, companies are aiming to create more appealing benefits programs. They’re considering new, more comprehensive approaches to benefits. Even more importantly, they’re thinking about the make-up of their workforce and which benefits their employees value most.

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What should the Aflac WorkForces Report tell your company?

Mar 5, 2018 4:01:48 PM / by David Aronson posted in Insights, Recruiting, Retaining Talent

I recently got my hands on the latest Aflac WorkForces Report (AWR), and it is chock full of valuable insights about how employees and employers view the benefits offered in today’s market. The full report has great insights on benefits trends and attitudes, but here we’ve highlighted the top points below as it relates to hiring and retaining employee talent, and how the right benefits package can help. 

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Top 10 Symptoms of a Misaligned Employee Value Proposition

Do you, like many employers, feel like you are bending over backwards to create an environment that's awesome to work in but still losing top employees? Or, are you struggling with finding decent talent and then actually getting them to accept your company's offer? If you answered yes to either of these questions or are finding it hard to reach your hiring goals, there's a good chance your company's value proposition is misaligned with what current and perspective employees actually want. 

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