Americans don’t have access to retirement plans

HR Digest

For the first time, Americans as a whole aren’t saving nearly enough for retirement. According to data from Northwestern Mutual’s 2019 Planning & Progress Study, fifteen percent Americans have no retirement savings at all. We’re getting older.

Preparing for the Retirement Boom

TalentCulture

The baby boomer generation is beginning to hit retirement age, and companies must prepare for what could be a major exodus. The US Bureau of Labor Statistics reports that as many as one out of ten workers will retire either this year or the next. The “silver tsunami” is coming.

Why This Retirement Expert Never Talks About A ‘Retirement Crisis’

Guideline

John Scott is director of the Retirement Savings Project at the Pew Charitable Trusts. He leads a team producing trusted data and clear analysis of the barriers to retirement savings in America and the policies aimed at eliminating those barriers.

Improve Your Company Culture Using Data

Visier

In an interview with ic4p , Genentech, a global biotechnology organization, shared how they used attrition data paired with people analytics to understand which employees were at risk at their organization. By using attrition data, they found that commute time doubled within the last 15 years.

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Fixing Data Visualization for Today’s World

Visier

We are making data visualization harder than it need be. The root of the problem is that the thinking behind data visuals grew up in an old world of paper. If we re-focus on the purposes of data visualization in business today , then we will get better results faster.

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Retirement Options – Beyond the Dollars and Cents of Retirement Planning

Career Partners International

Nearly every organization provides a retirement savings plan to ensure their valued employees can support the financial aspects of their lifestyle once they retire. Retirement, however, is more than just ending one’s working career to live off accumulated saving. With growing life expectancies, retirement can last for 30 years or more! Career Partners International (CPI) knows the value of preparing the workforce for that next step into retirement.

Aging Salary Data: Is Your Data Ready for Retirement?

HR Daily Advisor

Is your salary data a toddler, a teenager, or ready for retirement? If you’ve worked in compensation for very long you probably know all there is to know about “aging” data. If you’re new to comp, however, and aging data is a bit of a mystery, read on.

Future Friday: Retirement is considered in danger

OmegaHR Solutions

Megatrends are endangering retirement possibilities around the world. These include: Employer-sponsored retirement benefits are vital in helping people financially prepare for retirement. say their employer offers them a retirement plan that includes an employer contribution.

5 Surprising Ways to Improve Recruitment with HRMS Data and People Analytics

Visier

Let’s look at five surprising ways to use the combination of HRMS data and people analytics to help you in your recruitment programs: 1. Current employee salaries are a good data point when planning for a new hire. Profile the data of top performers to design better candidate profiles.

Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning

Visier

With baby boomers heading into retirement — by 2050 an estimated 88.5 But there is another retirement population that is perhaps even more worrying to them: nurses. Improving HCAHPS Scores with Data-Driven HR. Navigating Nurse Retirement with the New Workforce Planning.

No On-Ramp to Retirement

HRExecutive

In a troubling bit of news for anyone who plans on stopping work someday: more than 40 percent of full-time private-sector employees in the United States say they lack access to either a pension or an employer-based retirement savings plan such as a 401(k), according to a new study by The Pew Charitable Trust. Other key findings of the report include: •• Retirement plan access varies more among the nation’s metropolitan areas than across states as a whole. HR profession retirement

Traditional Retirement Just Isn’t for Me

Workology

This was prompted by an excellent piece published on LinkedIn and Uncommon Wisdom Daily called Why are So Many Saying ‘No’ to Retirement? That’s what many Americans think of when contemplating retirement….Yet Yet these days, more Americans are just saying “no” to traditional retirement. In fact, the percentage of workers 65 or older is at its highest level since the 1960s, according to data from the U.S. So why retire?

What’s new with retirement legislation

Business Management Daily

Only 11% of private-sector workers participate in a traditional defined-benefit pension plan, according to new data from the Employee Benefit Research Institute. That’s a dramatic drop in a very short time—a 71% decline since 1979, when about four in 10 workers could count on receiving a monthly check directly from an employer-funded pension when they retired. Almost all American workers now depend on defined-contribution plans such as 401(k)s and 403(b)s to fund their retirements.

Highest Employer-Sponsored Retirement Participant Deferral Rate Reached in 2017

HR Daily Advisor

Automated features now standard for most employer-sponsored retirement plans helped bring about a record 8.3-percent average participant deferral rate in 2017—the highest level in a decade, according to a recent T. Benefits 2017 employee retirement Rowe Price

Unleash 2019: It’s All About Smart Data and Reboot(ing) HR

Visier

Your guide to Unleash from a Smart Data Perspective. So, if you are too, here’s your guide to the two+ day event based on perusing the entire “Smart Data” track, for which I actually will be the session introducer. Key sessions to attend on the Smart Data Track.

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Why HR Needs Data-Driven Workforce Planning to Avoid Talent Shortfalls

Visier

In the following graph, we see how many hires are being made, by comparison to the number of job openings: For nearly the entire history of the JOLTS data, more hires are tracked than job openings, but recently this relationship has switched.

Study: Retirement Plan Fees’ Decline Slowed in 2017

HR Daily Advisor

Retirement plan recordkeeping, trust, and custody fees—in a steep decline for years under pressure from sponsors, participants, federal regulations, and litigation—remained flat for the first time since 2010, according to a new survey. Benefits NEPC retirement plan fees survey

Employees Want Better Benefits, Study Shows They're Willing to Leave Current Job for Better Retirement Options

Guideline

One of the top reasons small business employees leave jobs is to get access to better benefits and retirement options, according to a new study by Zenefits. Check out retirement plans that specifically cater to smaller firms.

Retirement Plan Fees: Take a Closer Look at the Data

HR Daily Advisor

The retirement plan you sponsor comes along with some serious responsibilities. You may use benchmarking data to determine whether those fees are reasonable. Among those is the duty to understand and evaluate fees paid on behalf of the plan.

Why Data-Driven Employee Career Growth Discussions Are Critical

Visier

Careers used to progress linearly–you’d start at the bottom and climb up the rungs of a clearly defined ladder until you retired–but the world of work has changed so much. And with a powerful visual and a data-driven conversation, you’re building the future of your organization. .

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Is Your Retirement Plan Ready for a DOL Investigation?

HR Daily Advisor

Department of Labor (DOL) investigation of an employer-sponsored retirement plan may originate in a variety of ways. It’s not uncommon for the regulatory agencies that oversee retirement plans to disclose new initiatives aimed at ensuring that employees’ benefits are protected. A U.S.

Are Your Employees’ Student Loans Hurting Their Ability to Save for Retirement?

HR Daily Advisor

While student loans can be a drain on short-term finances, a new survey from Aon Hewitt , the global talent, retirement, and health solutions business of Aon plc, reveals that workers with student loans can also potentially feel the strain into their retirement years.

Setting Customers Up For Success With Big Data

Visier

The makeup of the workforce is changing at a rapid pace: baby boomers are retiring out of the talent pool, the gig economy is shaking up the structure of teams, and the growth in knowledge worker roles is outpacing the number of people who can fill them.

Health savings accounts: Not your parents’ retirement plan

HR Morning

With the rise in health savings account (HSA) enrollment among younger employees and the decline in company matching rates of 401(k)s, HSAs have emerged as a retirement account option for new employees. A comparison of retirement savings options.

4 Reasons to Focus on Employee Financial Wellness for a Healthy Retirement

Tango Health

From making 401(k) contributions to helping employees open their HSAs , employers play an important role in offering support for employee financial wellness during retirement. Research reveals many Americans haven’t followed best practices for financial wellness during retirement.

Hire-to-Retire – Rethinking HR with Oracle HCM Cloud

Oracle HCM - Modern HR in the Cloud

The answer : focus on the hire-to-retire lifecycle. Given the breadth of the hire-to-retire lifecycle, HR teams now play a much bigger and strategic business role in any enterprise organization. Oracle HCM Cloud Offers the Hire-to-Retire Functionality for the Modern Digital Enterprise.

Only One in Five Workers are on Track to Retire at Age 65…

Something Different

<Forbes.com> …So this evening I came across a white paper from Aon Hewitt here that shows only 1/5th of the workforce is putting away enough earnings to retire when their parents did.

The Time for Data-Driven HR Is Now

TalentCulture

But today’s technology brings us something far more reliable on which to base the future of your company and the management of its most valuable resource: Big data. Data-driven HR is here, and the time to adopt it is now. Evaluate Data to Improve Workforce Planning.

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Some Bad News on Retirement Plans

HRExecutive

Employers, of course, want workers to save – not only for their own sake, but to help them retire on time and make room for younger workers moving up. They are less likely to have access to a retirement plan. Want to increase 401(k) participation rates? Higher salaries would help.

Webinar: October Web Summit - Compliance from Hire to Retire

Paycor

From managing recruiting compliance data to accurately tracking employee hours, you need a partner who can offer the right technology plus expertise to help mitigate risk.

Machine Learning Depends on Good Data—Here's How to Clean It Up

Cornerstone On Demand

We pushed data entry out to the end user and did away with the human positions that audited our data for logic and accuracy. Putting in bad data means you'll ultimately be making bad decisions. Here are three ways to prepare your data for the future.

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it’s time to retire these workplace phrases

O.C. Tanner

We “tweet” an update from our “open-plan” office; we attend a “stand up” for updates from our “data mining” team; we focus on “mission critical” initiatives that “boost the bottom line.”. Consult this list to see whether you’ve been using these workplace phrases it’s time to retire.

A Data-Based Case for Holistic Employer Wellbeing Offerings

Bersin with Deloitte

Deloitte’s 2018 Human Capital Trends report reveals compelling data regarding the importance of wellbeing offerings to employees—many organizations report a stark difference between what their employees want and what their employers actually deliver.

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DOL and IRS want a closer look at your retirement plan

HR Morning

Two of the most-feared government agencies for employers — the DOL and IRS — have decided there’s a real problem with the way retirement plans are being run, and they’re ramping up their audits to find out why that is. Expect the DOL and IRS to do a lot of data mining.”

From hire to retire: How assessments stand the test of time

PI Worldwide

Blog Post Employee Engagement & Retention Team Development Discovering High Performers Employee Onboarding Hiring, Selection, Onboarding Achieving Goals Assessments People Data Cognitive Ability Assessment Behavioral AssessmentBy Greg Barnett, PhD.