Effectively communicate to your current and future employees the total value of the compensation and benefits you provide with a total rewards statement and realize better employee engagement and performance.
Together with your Home Office, we’ve created an experience tailored to the needs of Northwestern Mutual Advisors - designed to save you time and money, and to give you the tools you need to run your business.
As revealed by 30 for 30’s “Broke” and HBO’s new show Ballers, many professional athletes “go broke” after their playing days are over. They just don’t know what to do with all that money – and sometimes owning a car wash just isn’t a great investment. That’s why Jeff Fisher, head coach of the St. Louis Rams, requires mandatory financial counselling before his NFL draft picks are allowed to sign their contracts. And there’s an HR lesson to be learned from it.
Today, competitive companies offer strong retirement and health care plans. But they’ll go to waste if employees don’t understand the benefits they’re receiving or how they’re a reflection of the way you value their services. Taking steps to explain the ins and outs of the 401ks and health care plans can make all the difference.
Your Position: Strong Savings
Like a rookie NFL player that’s trying to earn a spot in the league, it can be hard for young employees to care about retirement. Age 67 is just so far away, and they may not realize that $10 per month just doesn’t add up to a comfortable life after work. And if they don’t understand the options, they’ll never be able to put them to full use. Bring in a financial advisor to brief the team on the following items:
Pre-tax and Roth 401(k)s
The difference between a mutual fund and an index fund
Targeted retirement funds
Social security’s future
The importance of saving early and often
Employer match (and why your number is competitive)
There’s been a lot of “hissing” recently over a Google Chrome extension that replaces “millennials” with “snake people”. Check it out and have a couple laughs on a weekday afternoon.
Although your new web browser toy may have a humorous bite, the millennial HR problem has some real venom to it. Turning a generation into a cliché can hurt some feelings. Just ask the Baby Boomers about when they were young. That’s why you should never forget to treat your employees like people above all else.
If you stereotype your employees by their and age and age alone, you lose the HR opportunity to get to know who your workers really are. Take a look at some of today’s assumption about Gen Y employees and see what we mean:
There are fewer leaders in today’s workforce, and employee disengagement may be to blame.
According to a recent Gallup survey, only one-third of U.S. managers are engaged with their jobs. What’s more, even less engagement trickles down to their workers thanks to what Gallup calls the “cascade effect”. Could disengagement be threatening the leadership development in your company?
Encourage employees to use their strengths every day
By letting an employee fill a role where they excel every day, they are six times more likely to be engaged on the job. Create opportunities for employees to do what they do best.
Increase Employee Engagement to Build Tomorrow’s Leaders
In order to create your company’s future leaders, improved employee engagement in the present is essential. Read Huhman’s full article to learn how you can start enhancing leadership development in your company. When you’re done, take a look at how a total rewards marketing solution can improve your workers’ engagement.