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Tailoring Open Enrollment to the Needs of Your Multi-generational Workforce

Payactiv

Retirement Planning Millennials and Gen Z may value guidance on long-term financial planning, while Baby Boomers will likely be interested in retirement planning. Gen X workers who may have delayed starting to save for retirement will welcome generous retirement savings matching and catch-up contributions.

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Empower Your Workforce: A Tribute to National Employee Benefits Day with Payactiv

Payactiv

These can include paid time off, health insurance, retirement contributions, allowances, loans, gym memberships, daycare facilities, and more. For example, millions of workers use Payactiv’s Earned Wage Access solution to access their earned wages in a flexible, timely manner. Did you know?

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A Brief on Employee Experience vs. Employee Engagement

Payactiv

Given that the cost of replacing one employee ranges from one-half to two times their annual compensation, it’s a trend that most employers are desperately seeking to slow and reverse. As we discussed earlier, employee experience isn’t a “point in time” concept; it’s a circular, ongoing process. Smile and say thank-you.

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A Comprehensive Guide to Financial Planning for Kids

Payactiv

This can add up over time, and using a tool like Payactiv’s Goal-Based Saving 1 feature can help. When it comes to saving for your child’s financial future, it’s wise to start while they’re young because small amounts add up over time. Those advantages just transform into a retirement account.

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How to Launch a Financial Wellness Program in 7 Steps

Payactiv

By providing financial wellness programs, companies can expect higher employee productivity, attendance, engagement, and retention. As a result, their focus is skewed toward financial topics like planning for retirement or refinancing a home loan. How many times have you felt stressed about your finances within that same time frame?

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Navigating Open Enrollment Season 2024: Strategies for Employers

Payactiv

Companies offer various benefit plans, such as health and life insurance and retirement savings programs. For example, this is a great time for HR leaders to introduce and promote non-traditional benefits like financial wellness benefits. Employees then choose the specific benefit options they wish to opt in to.

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Payroll Best Practices for 2022 and Beyond

Payactiv

But too often, it ends up being something that takes up a great deal of time and resources. Payroll management is the process of compensating employees for the services they’ve rendered to a business, in line with their contract and their attendance. Pay Employees on Time and Avoid Errors. Gather Real-Time Attendance Data.