The moment you've been preparing for your whole life, er, year has finally arrived. It's basically the Olympics for Human Resources professionals. It requires preparation and dedication, it's not for the faint of heart. You're sure to encounter a few set backs or hiccups along the way, but ultimately you keep moving forward until the finish line is in sight. The moment I'm referring to is Open Enrollment, which for most companies has just happened or is happening at the very moment as you're hiding under a desk to read this article and restore your sanity.
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.
Did you know, companies that are diverse boast 19% more revenue than those that are not? It's true, according to a recent BCG study. This finding could be part of the reason one in three human resources leaders stated that improving diversity would be a main focus throughout 2018. To do so, many top firms, from technology to higher education, have made a place on the leadership team for someone who focuses on this area of the business.
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)!
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.
In August, the IRS issued a groundbreaking ruling that could affect the tax treatment of employers’ student loan repayment contributions. We can help you understand what the ruling means, how to explain it to your stakeholders, and how companies can act on it to offer a differentiated benefit before their competitors do.
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.
Limra, a worldwide research, consulting, and professional development organization that helps more than 600 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness, will be hosting its annual Group and Worksite Benefits Conference from September 11-13, 2018 at the Mohegan Sun in Uncasville, CT. On the second day of the conference, our CEO, David Aronson, is presenting alongside our partner Aflac, who will be represented by Jon Hethcox, Partner Relationship Manager.
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.
With 44 million Americans holding student debt, it's pretty easy to see that those affected by this is widespread. However, when considering whether to offer Student Loan Assistance most employers first question is often "How many of MY employees have student debt"? While it can seem difficult to determine, there are several different ways to go about finding the answer to that question and in this post we'll cover two different approaches.
As more Americans flock to colleges and universities against a backdrop of rising tuition costs, it is increasingly clear that we are in the midst of a student loan crisis. The proliferation of high-cost student loans outpaces both inflation and wage growth, and delinquency rates are now higher than ever before, surpassing all other mainstream credit products. In total, there is $1.45 trillion in student loan debt in the U.S., and it grows by $2,700 every second. Over 44 million Americans currently hold student loan debt.
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.
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.
As voluntary benefits become "must haves" in the war to attract and retain talent, employers are increasingly offering perks that focus on education. From professional development to student loan repayment, companies are positioning themselves as partners when it comes to the education of employees and their families.