The New Tax Law and Bonuses, Pay Raises and Voluntary Benefits

The New Tax Law and Bonuses, Pay Raises and Voluntary Benefits

When the Tax Cuts & Job Act passed into law, people had different reactions. The law has the potential to stimulate the economy by letting people keep more of their money and providing tax cuts for businesses of all sizes. Companies have already begun to reinvest some of their savings into bonuses, pay raises, and more for their employees, but an increase in voluntary benefits for employees could also spur the growth that America needs. The Tax Law The Tax Cuts & Job Act [PDF] establishes lower tax rates for individuals and doubles…Continue Reading
The Key to Attracting and Retaining Millennial Talent

The Key to Attracting and Retaining Millennial Talent

Most Millennials have been in the workforce for 10 years or more. The oldest Millennial is nearly 35, while the youngest Millennial may have just graduated from college. While both groups of Millennials have similar ideals for what makes a great workplace, organizations still find themselves at a loss for attracting and retaining this generation for long. Older Millennials had to adapt when the business world switched to digital. We were the group that crossed the divide between the traditional way and the new way of doing things. Our classes at school became…Continue Reading
The Self-Funded Health Plan Provides New Savings For Employers

The Self-Funded Health Plan Provides New Savings For Employers

The health insurance debate will be a hot button issue for many years to come. Employers want to offer health insurance benefits to their employees, but the cost can put a strain on their finances. Health insurance premiums continue to rise, and these costs leave little room for employers to offer other wellness benefits in their benefits packages. Unique benefits like student loan repayment plans often don’t get considered when the cost of health insurance benefits consume most of the organization’s funding for benefits. This is one of the reasons why self-funded health…Continue Reading
The Baby Boomer Generation and Financial Stress

The Baby Boomer Generation and Financial Stress

Millennials aren’t the only ones financially stressed. Most researchers focus on the Millennial generation because of burdensome student loan debt and underpaid employment. But the Baby Boomer generation deals with their own financial stress, which can affect their work and delay retirement. Causes of financial stress Emergency funds. Fortune reported that 32 percent of Baby Boomers do not have an emergency fund. Emergency funds are typically six months’ worth of savings to be used during an emergency, and the funds can provide a cushion when something unexpected happens. Not having an emergency fund means…Continue Reading
In The News: The Philly Sun

In The News: The Philly Sun

PeopleJoy was featured in an article for The Philadelphia Sunday Sun about our partnership with Campus Philly. Campus Philly and PeopleJoy are partnering to offer a new benefit that helps employees pay off their student loans. PeopleJoy, a Philadelphia benefits start-up, and Campus Philly, a nonprofit that works to engage and retain college students, see student loan assistance as the newest way to attract and retain Millennial employees. READ MORE: The newest vehicle for attracting and retaining Millennial talent in the workplaceContinue Reading
Disbanding Affinity Groups and ERGs: Good or Bad?

Disbanding Affinity Groups and ERGs: Good or Bad?

Diversity issues have been a hot button topic in the news lately. Deloitte recently announced that the company would now be in favor of “inclusion councils” that include white male executives in the diversity discussions. Deloitte believes that the new approach will help white men within the company connect with their diverse employees. Inclusion councils can be a great supplement to employee resource groups (ERGs), but should they become a replacement for them? Kevin England, Ph.D, explains that inclusion councils just cannot “have the resources to accomplish everything that ERGs can accomplish.” Employee…Continue Reading
Relocation Management of Employees

Relocation Management of Employees

Relocating employees from one office to another does not need to be overwhelming. The process can be done with efficiency if the employer has prepared a relocation management plan and coordinates the move as much as possible. Employees will benefit from a smooth relocation process. What should go into a relocation management plan? This will vary according to the organization and its needs, but these are some of the considerations that employers can make when creating a relocation management plan: Relocation packages Moving from one location to another can be very expensive. A…Continue Reading
Financial Wellness Benefits: Impactfulness

Financial Wellness Benefits: Impactfulness

One of the biggest decisions that employers can make is offering the most effective portfolio of benefits to their employees. Companies that reward their employees see increased employee engagement and productivity, but it also helps to establish long-term relationships with employees. Better financial wellness benefits means less turnover. So, what happens if an organization discovers that their benefits seem to appeal to only one group of people or just aren't impactful for their employees? Few of us would think that the employee benefits we offer could contain any bias, but we might be…Continue Reading
Retention Management and Metrics

Retention Management and Metrics

By Roxanna Coldiron No organization can succeed without their employees. Whether the company is large or small, the employees drive the business through their efforts to meet and exceed productivity goals and fulfill the company’s mission. Retaining key employees and reducing employee turnover should be the goal of every organization, but how can companies measure their retention strategies and manage their teams better? This is where retention management and metrics come in. The right combination of metrics can help can organization to manage their retention success and lessen the turnover rate, as well…Continue Reading
Financial Stress: The Effect It Has On Employees

Financial Stress: The Effect It Has On Employees

By Roxanna Coldiron If it seems as if your employees are using more and more of their sick leave, it could be that they are dealing with financial stress. An American Psychology Association survey revealed that 72 percent of Americans feel stressed about their financial situations and 22 percent feel “extremely stressed.” Stress can cause employees to feel ill, lower their motivation and decrease their productivity at work. Causes of financial stress CNBC reported that 80 percent of Millennials with student loan debt experience “significant” or “very significant” stress. No wonder! The student…Continue Reading