How employers can empower their workforce by focusing on knowledge, inclusion and well-being

November 8, 2024 12:01 PM

I need everyone to give me their best ideas. Shot of a group of businesspeople sitting together in a meeting. — Shot of a group of businesspeople sitting together in a meeting

We tackled a variety of important topics to help employers empower their workforce. Editor Lee Hafner reports that employees are skipping lunch because they fear not having enough time in the workday to complete their work or because they say that too much time is being eaten up by meetings. But it's important, she reports, for employers to encourage their workers to refuel—both physically and mentally—during working hours.

DEI is under attack, reports Deanna Cuadra, our senior reporter. But she cautions against thinking that these initiatives are dead; instead they are being transformed. According to The Conference Board, a non-profit business research organization, only 9% of executives plan on scaling back external DEI communications, and just 3% plan to scale back internally. In other words, most employers are either keeping their programs intact, or even expanding them.

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InStride study finds older employees want continuing education

Learning never stops, and older employees are voicing their desire for more development opportunities within the workplace.

A new survey from career-aligned education platform InStride found that employees ages 50-69 — falling in the Gen X and baby boomer generations — are anything but passive about growing their knowledge and skills. Sixty-three percent of respondents aged 50-59, and 55% of those aged 60-69, said they would be interested in going back to school for further education, such as an associate's, bachelor's or master's degree, if their employer covered tuition.

DEI isn't going anywhere — but it may get a rebrand

It's been less than an ideal year for DEI: From household brands like John Deere, Harley Davidson and Ford announcing rollbacks to their DEI programs to Black student admissions dropping at several Ivy League schools following the Supreme Court ruling that effectively ended affirmative action, it can seem like DEI is on its way out.

Yet, a majority of employers don't believe that DEI is dead. According to The Conference Board, a non-profit business research organization, only 9% of executives plan on scaling back external DEI communications, and just 3% plan to scale back internally. In other words, most employers are either keeping their programs intact, or even expanding them. However, 53% of executives have already changed their DEI terminology, shying from the acronym for broader concepts like "belonging." And 20% of respondents are considering doing the same thing in the future.

Let's (not) do lunch? ezCater finds employees are skipping out on opportunities to recharge

There's more to lunch than shoveling down a sandwich and getting back to work. And many employees are missing it, because they're skipping lunch altogether.

In a survey of 5,000 full-time employees, corporate meal delivery platform ezCater found that 98% said taking a lunch break improves job performance, 51% said it increases happiness and 49% reported it improves mental clarity. But, only 38% take a daily break from their desks at lunchtime and almost half skip lunch entirely at least once a week.

Nava Benefits and Open AI partnered up to make healthcare easier to understand

AI's practical uses may just extend to where many employees need it most — understanding their healthcare benefits.

Benefits brokerage Nava Benefits and Open AI have teamed up to launch Nava's AI benefits assistant, a tool that offers guidance on individual health plans and real-time updates on deductible and out-of-pocket maximum usage. While Nava's users have access to human benefits advocates (someone who can answer questions regarding their plan and resolve any claims or billing issues), this new AI tool featured on the Nava Benefits App is aimed at resolving comprehension-based questions and determining which problems need to be addressed by a Nava advocate.

How to navigate rising health costs and enhance employee value

It's more pressing than ever for benefit brokers to balance escalating healthcare costs with the need to provide quality benefits. The industry is at a critical juncture, with projections indicating that healthcare rates could double in the next seven years. For those crafting employer-provided benefit plans, adopting a strategic and informed approach can transform this challenge into an opportunity for growth and increased profitability. There are plenty of opportunities to innovate and optimize benefits offerings to effectively meet these challenges.

Healthcare costs are rising at an unprecedented rate, driven by various factors that include medical inflation, regulatory changes and an aging population. These increases put immense pressure on employers that must manage these costs while maintaining competitive benefit offerings to attract and retain talent. This situation demands that benefit brokers develop a deep understanding of market dynamics and the specific needs of their clients to help them effectively navigate this complex landscape.

FinFit rounds out its financial offerings with Sunny Day Fund partnership

Having money in savings does wonders for overall wellness, but the majority of employees are living paycheck to paycheck. FinFit and Sunny Day Fund have partnered to help change this dynamic.

FinFit's financial wellness platform, which is currently available as a benefit to more than 7 million employees, gives access to products like credit lines and loans, financial education and coaching resources.

Teaming up with emergency savings platform Sunny Day Fund allows them to provide a more holistic financial safety net to workers whose traditional options for banking are either insufficient or too expensive, says Michael Woodhead, chief commercial officer at FinFit. All FinFit members will be able to seamlessly direct money from their paychecks to both credit and loan payments as well as into a Sunny Day Fund savings account. These accounts earn 4.06% APY interest from Portage Bank — 10 times the national average.

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