U.S. employment plummeted last month in the first decline since 2010, offering an initial look at the widespread devastation the coronavirus pandemic has already begun to wreak on the once-strong labor market. Payrolls fell 701,000 from the prior month — compared with the median forecast of economists for a 100,000 decline — according to Labor […]
With all the focus on the surge in U.S. layoffs, it’s easy to forget that there’s a silent job killer lurking in the background. Hiring freezes such as that reported by American Express mean that the take-up of workers is falling rapidly. How quickly companies ramp hiring back up will be a large factor in […]
Having a secure digital space for storing important documents is becoming commonplace as our digital world expands. Ensuring proper accessibility and security is especially important in the event of someone’s passing, to make sure that people who will be affected are aware of the arrangements beforehand. Everplans, a financial services company, offers a platform that […]
There’s something to be said for living with mom and dad. In fact, more and more young adults are opting to do just that thanks to things like student loan debt and high rents. Yet, there comes a time when they need to strike out on their own and become financially independent. Stephanie Einseberg is working towards […]
If you’re not keeping remote employees engaged, you’re doing yourself a disservice, because disengaged employees cost organizations yearly $550 billion in productivity losses. Worse, workers that are psychologically unattached and who put time, not passion into their work, make 2.5 less revenue. Keeping remote staff satisfied is not something that comes naturally to most businesses. In fact, […]
Denying candidates with criminal histories a fair shot at a job can cost employers big time — both in fines and lost talent, employer groups say. Dollar General discovered this the hard way: the discount retailer was ordered to pay $6 million after the U.S. District Court for the Northern District of Illinois in Chicago […]
While almost half of employees plan to sign up for a high-deductible health plan (HDHP) during this year’s open enrollment, many workers find the high deductibles and out-of-pocket costs financially out of reach. Some 41% of survey respondents said they would not meet their yearly deductible, and 39% said they could not afford out-of-pocket costs […]
In 2017, the U.S. spent $3.5 trillion on health expenditures. That’s more than any other country and more than double the average among developed countries, according to the Committee for a Responsible Federal Budget. Every year, healthcare costs rise, putting additional strain on individuals, their families and their employers. The system is broken. Any significant […]
WASHINGTON — Employees shopping for healthcare in the U.S. market now have more choice than ever before, but they still don’t have the transparency and financial data necessary to make smart decisions about their care. That’s according to Ford Koles, executive director of research firm the Advisory Board, who said employers are shouldering an outsized […]
The Department of Labor’s new proposal would give employers additional flexibility when calculating overtime pay for salaried, non-exempt employees who work irregular hours — and may make it easier for some workers to get bonuses. The new proposal, released this week, clarifies for employers that bonuses paid on top of fixed salaries are compatible with […]
