Author Archive for Joe Larocque

Impact 401(k) Participation with Open Enrollment

Connecting retirement benefits to the health benefit open enrollment period can dramatically increase 401(k) participation, found Bank of America Merrill Lynch.  By providing easy “one-click” access to enroll in or make

Benefits Communications

Drive 401(k) participation by tying to Open Enrollment

contribution changes to 401(k) plans during open enrollment, employers have seen an increase in participation.   The study showed an 11% year-over-year increase in the number of employees making a change to their retirement plan election as a result of the association with the health care open enrollment period.  And nearly all of these election changes were positive (93%), meaning employees started or increased contributions to a plan.

Read More

Published by Joe Larocque on March 9, 2011

New Hire First Impressions. You Don’t Get a Second Chance.

The on-boarding process is critical to the productivity and retention of new employees.  And while on-boarding is defined as the first 90 days of employment, most experts agree that a new hire’s assessment of a new employer

New Hire Training

Meaningful New Hire Connections

is formed much, much sooner.  In fact, like so many other things in life, your greatest opportunity to build trust and excitement about your organization is likely with the very first impression you make.

Read More

Published by Joe Larocque on March 4, 2011

How to Get Started with Financial Wellness

A recent study by Fidelity and the NBGH revealed that employer spending on wellness programs grew 43% to $154/employee in 2010. This level of growth and investment provides evidence that wellness

Financial Wellness

Start with a Financial Health Assessment

initiatives are:   (1) becoming much more comprehensive and (2) demonstrating tangible business value.

In our own experiences with HR professionals, we see the expansion every day.  Wellness strategies are evolving and many employers are looking to better understand how employee money issues are impacting the productivity of their organization.

Read More

Published by Joe Larocque on February 25, 2011

Benefits Communications & The Talent Migration

Once upon a time, the number one priority for benefits programs was to attract, motivate and retain talented employees.  That time was 2007.  As the economy melted down and layoffs began, retention quickly took a backseat to benefits cost cutting priorities.

Benefits Communications

Benefits Communications Turn Risk Into Opportunity

As the economy improves, the tide may be turning once again according to several new studies.   Here are some key findings:

  • Up to 60% of top performing employees plan to leave their organization within the next year

Read More

Published by Joe Larocque on December 16, 2010

Financial Well Being Index

Despite the optimism regarding the economy in 2011, employees are still feeling cautious about their money,

Financial Wellness

Employees Remain Cautious

according to the Q4:2010 Principal Financial Well-Being Index survey.  Here are some of the key takeaways:

  • Half of employees did not feel better about their financial situation than they did a year ago. Nearly 40% of employees were still cautious about the economy.
  • 72% of employees are concerned about their long-term financial future.

Read More

Published by Joe Larocque on December 5, 2010

Financial Wellness Makes the “Mega-Trends” List

If you’re a student of employee wellness programs, and if you’re reading this blog, I can assume that you are, you might be interested in a recent Employee Benefits News Blog that breaks down the “7 Emerging

Mega-Trends That Will Change Wellness Communication… Forever.”

Financial Wellness

Financial Wellness is a Key Component of your Wellness Strategy

Read More

Published by Joe Larocque on October 25, 2010

When It Comes to Benefits Communications, Choose your Words Carefully

Some interesting words of advice from Frank Luntz, the American political consultant and pollster at the EBN Benefits Forum & Expo.   “Communication matters, language matters,” said the Fox News Channel commentator and analyst in Boca Raton, Fla. “You can put all the effort into policies that you do, but if you don’t have the right words in the right order, then nobody understands it.”

Benefits Communications

Tips for Benefits Communications

Read More

Published by Joe Larocque on October 7, 2010

The Guardian Weighs in on the Life Insurance Educational Challenge

Have you heard?  It’s Life Insurance Awareness Month…and soon it will be Open Enrollment.  Getting employees to focus on these issues, particularly the younger ones, can be a sizable challenge.  Guardian offered a few tips this month to help ensure employees recognize the need for life insurance and take advantage of workplace opportunities for coverage:

Benefits Communications

The Life Insurance Educational Challenge

  • Make sure that employees and family decision makers have easy access to educational materials and enrollment forms

Read More

Published by Joe Larocque on September 28, 2010

Employees Taking on the Burden of Rising Health Care Costs

A new study was released by the Kaiser Family Foundation showing that employees are continuing to shoulder a larger share of their health care costs.  Here are 5 key takeaways that give the substance of the report:

  • Since 2005, workers’ contributions to premiums have rose 47%, while overall premiums increased 27%, wages jumped 18%, and inflation spiked 12%;

    Higher Premiums, Less Comprehensive Coverage

  • U.S. workers saw the cost of their health care coverage jump by 14% over 2009 rates;

Read More

Published by Joe Larocque on September 15, 2010

Financial Wellness – Breaking Down the Barriers to Adoption

In a new study conducted by the Personal Financial Employee Education Foundation (PFEEF) and Employee Benefits News (EBN), 70% of respondents thought that workplace financial education is important or extremely important to the overall level of productivity in their organization.

Other notable findings included:

  • 51% of employers surveyed saw an increase in employee wage garnishments
  • 42% of employers surveyed saw an increase in employee emergency loans
  • 34% employers surveyed saw an increase in employee requests for time off to deal with personal financial issues

Read More

Published by Joe Larocque on August 27, 2010