The battle for top talent isn’t over. While employee quits declined in 2024, studies suggest turnover could surge in 2025, with 38% of employees considering a job change. To stay ahead, organizations must adapt to these key trends.  [I Want the Trends Now]   The workforce trends that will shape 2025  1. Unemployment rates above 4%  A slowing job market may shift leverage back to employers, but competition for skilled talent remains fierce.  2. AI and automation in the workplace  As artificial intelligence reshapes jobs, companies must invest in upskilling to attract and retain a future-ready workforce.  3. Demand for GLP-1 weight loss drugs  With more employees factoring GLP-1 coverage into job decisions, employers must weigh the financial impact of adding these medications to benefits packages.  4. Return-to-office push  Companies are tightening in-office mandates, but balancing flexibility with business needs remains critical to retent...

The Great Resignation has ended, but its impact hasn’t.  In 2024, you could argue the response to “why employee retention is important” differs from before COVID-19 and “The Great Resignation.” This period led to a significant turnover rate, forcing businesses to rethink their employee retention strategies to enhance employee morale and engagement.  The Great Resignation , also known as “The Big Quit” and “The Great Reshuffle,” shifted the way organizations view their work culture, putting pressure on human resource departments to assist in the reimagination of internal and external efforts. The value of employee retention became a focal point for businesses aiming to maintain stability.  Though the phenomenon ended in 2023, with the quit rate returning to what it was around 2019, businesses across sectors haven’t forgotten the trends that emerged during the period, such as voluntary and quiet quitting — so popular that many organizations and human resource professionals ...

As the labor market continues to slow, it’s anticipated that organizations will have difficulty attracting and retaining talent—leaving employers more eager than ever to tangibly incorporate successful talent strategies. Read the latest edition of the Attraction & Retention newsletter to get key employer takeaways on:  the slowing labor market;  using employee benefits as a workplace retention factor;  supporting working parents during the 2024-2025 school year; and   a Q4 2024 workplace outlook.  Get your labor market recap today. You can also review the Q3 2024 Attraction & Retention newsletter, which details employee retention statistics and best practices as well as how to attract millennial talent.  If you’d like more information regarding the newsletter and our services, contact our team of experts today ! We’re here to answer any questions surrounding your employee benefits and retirement plan efforts.   This is not intend...

There is a significant gap between employees and employers regarding financial wellness programs, according to the Harvard Business Review . “80% of employees report being financially stressed. Only 28% of employers offer financial wellness programs,” the article states.   Similarly, Forbes highlights a 2023 Transamerican Institute study showing that 77% of workers consider financial wellness programs an important benefit.  With so much research on the need for these programs, what should employers do?  The first way employers can bridge this gap is to learn what financial wellness is and how it can improve an employee’s overall being. In this short Q&A, we introduce the topic and offer some essential tips to get started.  Q1: What is financial wellness?  A: Financial wellness refers to the sense of security a person feels about their financial situation in all aspects of their life. It means having control over day-to-day finances, being prepared for ...

Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors and increase employee satisfaction — all with little impact on your budget.   However, while employers may choose to offer convenient and valuable voluntary benefits, many employees do not understand the advantages or are unclear about how they work. Educate your employees on the advantages of these voluntary benefits so that you both reap the rewards.  Demonstrate the value of voluntary benefits  When compared to employer-sponsored benefits, many employees may fail to see the value of voluntary benefits that they must personally finance.  For example, research shows that employees might not be aware that purchasing insurance through their employer group is often cheaper than buying individually.   When promoting your voluntary benefit options , discuss the advantages of having insurance coverage and the risks of going without and emphasize the conve...

Financial stress lowers employee productivity and morale and is far more common than you may think. According to an economic report from the Federal Reserve , nearly four in 10 American adults wouldn’t be able to come up with $400 in an emergency.   This article explores how employers can reduce employees' financial stress with voluntary benefits.   The real-world costs of financial stress  Financial stress takes a toll on employers and employees alike. According to a recent Salary Finance survey , lost productivity due to financial stress costs the country around $500 billion each year. What’s more, employees under such stress are more than twice as likely to seek other employers, according to the same survey. And financially stressed employees are several times more likely to suffer anxiety attacks, experience depression, miss deadlines and produce lower-quality work than their non-financially stressed counterparts.  How employers can help with voluntary benef...

The job market remains strong and competitive in quarter three.  Read the latest edition of the Attraction & Retention newsletter  to get key employer takeaways on:  the rebalancing labor market;  employee retention statistics and best practices; and  top tips on attracting millennial talent.  Get a full picture of the workplace outlook  and download your edition today!   If you’d like more information regarding the newsletter and our services,  contact our team of experts today ! We’re here to answer any questions surrounding your  employee benefits  and  retirement plan  efforts.  This is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. © 2024 Zywave, Inc. All rights reserved. 

In today’s competitive labor market, retaining key employees is more critical than ever. Essential team members possess unique skills, knowledge and experience that significantly contribute to your organization's success. Losing them can be costly and disruptive, so it’s crucial to prioritize their retention.  We’ve created a comprehensive checklist to help identify and retain your top performers. This tool will help you recognize the qualities that make your key employees indispensable and implement strategies to meet their needs and expectations.  Benefits of using our checklist :  Tackle retention challenges: Learn how to retain top talent in a tight labor market.  Recognize key qualities: Identify the unique attributes that make key employees irreplaceable.  Implement effective strategies: Take action to meet your employees' expectations and keep them engaged.  Secure your top talent and ensure your organization's continued success by downloading our ...

Last year’s challenging labor market continues to impact employers across all sectors in 2024. Organizations are still struggling to find and keep workers, as the U.S. economy added 275,000 jobs in February.   As competition to attract talent fiercens, all eyes are on innovative talent strategies that meet today’s workforce needs and make sense for organizations. Read the latest edition of the Attraction & Retention newsletter to gain expert updates on:  meeting demands with voluntary benefits ;  university and college recruiting season; and   key workplace outlook data, including primary job gains and unemployment rate.  Download your copy now and get the top labor trends and methods to secure talent. If you'd like more information regarding TruePlan and our services, contact our team today ! We’ll take the time to examine your current employee benefits and find the best solutions for your needs.  This is not intended to be exhaustive, no...

As healthcare costs continue to rise, so does demand for voluntary benefits. Since many employers find it increasingly difficult to provide employees with a complete benefit package, voluntary benefits have become an ideal solution.   Voluntary benefits are attractive to employers because there is no added cost for the organization.  Employees benefit because they have a variety of insurance options available conveniently in one place — often with lower premiums than if they were to buy individual policies.  What are voluntary benefits?   Voluntary benefits are coverages and products made available to employees for elective purchase though payroll deductions. These programs have four key characteristics:   100% employee-paid;   offered through an employer;   solicited and enrolled through a carrier or enrollment firm;   paid through payroll deductions.   Because of their cost efficiency, voluntary benefits are becoming a central componen...

Employee engagement and retention are pivotal in every sector, but they carry even more weight in the not-for-profit space, where resources are often limited. High turnover can be both costly and disruptive, impacting productivity and damaging morale. In an era of workforce evolution, to effectively retain their top talent, organizations must explore innovative employee retention strategies that go beyond conventional methods.  Engaged employees are distinguished by their higher productivity, motivation and loyalty, and they are more likely to stay with a company for the long term. Gallup recently updated its research article, The Benefits of Employee Engagement , finding that "low engagement teams typically endure turnover rates that are 18% to 43% higher than highly engaged teams."  In addition to turnover, disengaged employees negatively impact a company's financial health, with turnover costs averaging six to nine months of the departed employee's salary, accordin...

Retirement and employee benefits help create a solid foundation for recruitment and retention. They’re also pivotal in enhancing job satisfaction, boosting productivity, encouraging employee well-being and increasing workplace morale. With the work landscape evolving rapidly, organizations are revisiting their offerings to develop stronger employee benefits strategies.  The first area most small- and mid-size employers investigate is quick, short-term ways to foster company culture. In this blog, we’ll cover budget-friendly ideas to improve your employee benefits initiatives. Think of them as smaller action items that can help you gain a competitive edge. Then, we’ll take a closer look at how customizing your benefits plan can support your new efforts.  1. Promote a healthy work culture  Investing in employee benefit plans is not just about fulfilling a checklist. It's about creating an environment where employees feel supported in both their professional and personal liv...