Newsletter from Integrated Benefit Solutions
Supporting Employee Financial Well-being During the
The COVID-19 pandemic is not only challenging the
way Americans live on a daily basis, but
also posing significant economic threats that could have a
lasting effect on their financial well-being. For purposes of
this article, financial well-being refers to the state in which a
person is able to meet their current and
ongoing financial obligations, feel secure in their financial
future and make choices that allow them to thrive.
Why It Matters
Finances are a leading cause of stress for employees and can be a
major distraction at work. As a result, the workforce could experience
reductions in engagement and productivity, increased absences,
and poor health and well-being.
How to Help
Employers can play a key role in supporting the financial
well-being of their employees, and should consider the following
ways to improve employees’ financial literacy:
employees about financial well-being through workshops and
educational content, addressing topics such as student
loans, debt, credit, financial goals, emergency funds and
financial resources, including employee assistance programs
employees about all available benefits,
and highlight perks that can offer financial relief
In general, employers should continue their due
diligence in reviewing and adjusting benefits offerings so they
align with employees’ evolving needs.
Financial well-being is a challenging topic that directly impacts
the workforce, but employers can offer support and help their
employees make educated decisions.
Encouraging Employees to Use Telehealth Services
As COVID-19 cases continue to surge across the
country amid flu season, telehealth services offer access to
quick, convenient and affordable care.
In 2020, there was a significant increase nationally in
telehealth utilization. Now, many providers and hospitals are
encouraging patients to utilize telehealth services instead of
coming to the office or hospital for non-life-threatening care.
Although it’s a newer type of health
care service, the modern telehealth platforms are generally
user-friendly and operate similarly to other video call
platforms. There are many benefits of telehealth services, which
include, but are not limited to:
- Minimized risk to health
care workers and patients by limiting exposure to the
coronavirus and other diseases
- Improved health care
outcomes due to increased access to care
- Greater ability for patients
to follow shelter-in-place restrictions or suggestions
- Increased convenience due to
receiving care in the comfort of one’s home
- Potentially increased cost savings,
depending on the health plan
Once telehealth services are explained to employees, they may be
more willing to embrace the offering. Using these services can
help them stay healthy and access convenient care during these
uncertain times. Be sure to provide easy-to-understand
educational resources to explain what telehealth is, what it
should and shouldn’t be used for, and
how your health plan treats telehealth services.
For more information on telehealth, contact us today.
Employee Skills for the Post-pandemic Workplace
The post-pandemic workplace will require employers
to rethink how to prioritize and develop necessary skill sets. In
response, organizations should embrace a dynamic approach to
reskilling talent in order to shift
vital employee skills and help develop skills as they become
relevant and necessary. Consider pursuing and supporting the
following proficiencies for potential and current employees:
Just as an organization may have quickly adapted to new ways of
working and communicating, the willingness and capability to
adapt will become a highly desired employee skill.
Communication is not a new in-demand skill, but is now more important than ever.
With many employees working remotely, communication skills are
critical for emails and virtual meetings.
As the world and workplace rely more on digital assets and
platforms, digital skills will be even more vital to success.
Ideally, an employee should be proficient in learning and using
new communication and project management platforms, and even
programming and coding.
EI is the capacity to differentiate, evaluate and respond while
recognizing both one’s emotions and the emotions of others. EI is
often a sought-after skill for leadership roles, but it is
relevant in today’s workplace for all roles.
Organizations can seek out and hire candidates who strongly
demonstrate these skills, but can also
develop these skills within their workforce. Consider developing
current employees and incentivizing them to demonstrate these
skills within your organization.
10 Employee Retention Resolutions for 2021
With a new year upon us, your attention is likely focused
on setting financial and productivity goals for your business. As
you plan, make sure to look at one area you may have overlooked:
employee retention. Employee retention has a huge impact on your
bottom line, and now is a great time to make some employee
retention resolutions that will pay off all year long. Watch the
video below to learn 10 key employee retention resolutions for