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Summer, a workplace student loan solution, closes a $9 million funding round

HR Brew

The fundraising round comes on the heels of news that Summer will partner with ADP to offer student loan retirement matching to the human capital management firm’s 401(k) clients. Sealy co-founded Summer in 2017 after spending two years working as a student loan policy expert for the Consumer Financial Protection Bureau.

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This is employers’ top financial wellness concern today

HRExecutive

Thanks to record-high inflation last year, rising interest rates, flat wage growth and other economic factors, employers now say their top concern about employee financial wellness is the high cost of living, according to a recent survey by the Employee Benefit Research Institute. EBRI has conducted the annual survey since 2017.

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Retirement Success Starts with Financial Well-Being

HR Daily Advisor

Michael Jordan wasn’t talking here about retirement, and in fact, we don’t know that he ever has. In today’s world, each individual must take charge of his or her own retirement. Are you doing all you can to help your team members win the retirement game? “Talent wins games, but teamwork and intelligence win championships.”

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Aiding Employees With Retirement Planning Boosts Retention

Hppy

Retirement doesn’t feel like a realistic goal for many employees today. Of those over 65, nearly 19 percent were working as of 2017 , and by 2024, that number increases to 36 percent of those between 65 and 69 needing to work. workers, 79 percent expect they will need to supplement retirement income by working.

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5 Culture Trends for 2019

As we approach 2019, major shifts in the work environment will continue to affect the ways companies do business. Companies that are looking to attract, engage, and retain top talent should leverage these trends to create workplaces where employees thrive.

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What is the difference between employee turnover and employee attrition?

DailyPay

Both attrition and turnover decrease the number of employees on staff, but attrition is typically voluntary or natural — like retirement or resignation. In 2017, the Bureau of Labor Statistics (BLS) found that 15.1% workforce voluntarily quit a position, retired, was laid off or discharged. Create a financial wellness program.

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How to Help Employees Save More for Retirement

Best Money Moves

How to help employees save more for retirement. Employees experience debilitating financial stress when it comes to retirement and they want employers to provide tools and support that ensure they’ll have enough money saved to last through retirement. Less than half of GenXers are saving enough for retirement.