What the DOL’s Fiduciary Rule Means for Financial Professionals Now

What the DOL’s Fiduciary Rule Means for Financial Professionals Now

The U.S. Labor Department’s so-called fiduciary rule has a long history, and it appears it’s not over. Proposed under the Obama administration, the rule would change the status of some financial professionals under the Employee Retirement Income Security Act (ERISA). It was originally supposed to be phased in in April but has been delayed until June, with a transition period for some exemptions extending through Jan. 1, 2018. In addition, the Trump administration may want to make more changes. For financial professionals, it’s vital to stay up-to-date on the changes. “Good faith is not enough,” says Ronald Surz, president of PPCA. Here’s what financial advisers, especially those who work on commission, need to know. It Establishes Broader Fiduciary Responsibility Under the rule, all financial professionals who work with retirement plans, ESOPs, IRAs and so on, or who provide advice about retirement plans, will have to act in a fiduciary capacity. …

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Taking Wellness High Tech: What Tools Can Help You Reach Your Organization’s Goals?

Taking Wellness High Tech

Companies often use wellness programs to inspire employees to manage and improve their own health. As the U.S. health care system turns to a more consumer-driven model, the importance of wellness programs is likely to grow. Employers can improve the results of their wellness programs by using high-tech solutions that help make getting healthy fun and easy. As you incorporate high-tech wellness programs into your company’s health benefits offerings, it’s important to remember that one size doesn’t fit all, says Laura Messenger of Healthentic. “What works for one employer group will not necessarily work for another,” she says. Location, workforce demographics, corporate culture and industry will all have an influence on what approach you take with your wellness efforts. Here is an overview of some tools that can help your organization reach its wellness goals. Specialized Apps There are a wide variety of mobile applications that can help with employee …

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How to Onboard Young Professionals to Peak Performance

How to Onboard Young Professionals to Peak Performance

Onboarding, also dubbed organizational socialization, helps new hires acquire the necessary knowledge, skills, and behaviors to become effective and engaged employees. Research has shown that successful onboarding strategies raise the odds of positive outcomes for new employees – including higher job satisfaction, better job performance, greater organizational commitment, a reduction in stress and less likelihood of quitting. However, human resource leaders and managers need to tweak onboarding techniques for the growing number of young employees who are members of the Millennial Generation (also known as “Generation Y”). The reason? This newest crop of young professionals tend to be highly educated and remarkably proficient in using technology, yet too often ill-prepared for the workplace with a tendency to feel entitled and sometimes even downright disrespectful. By incorporating an understanding of Millennials’ values and goals, an updated onboarding process can zero in on what it is that makes this generation “tick” and …

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Making Flex-Work Work for Everyone

Making Flex-Work Work for Everyone

Flex-work is a growing trend, with many companies worldwide offering employees a level of choice about when and where they work. Touted benefits include improved health and employee loyalty and lower office costs. However, successful flex-work programs don’t just happen. Making flex-work work requires strong, clear management and communication, a transition to output-based management and full team member engagement. Clear Management and Communication Employers must be able to articulate the why and the how of their flex-work policies. All flex-work arrangements should provide a clear benefit to the organization. Options, parameters and degrees of formality or duration should be communicated clearly, and a consistent process for requesting, implementing and assessing flex-work options should be developed to ensure clarity and fairness. Output-Based Management In a flex-work environment, management by presenteeism is neither relevant nor appropriate. By allowing employees to customize their work structure, you are necessarily refocusing on results. For a …

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Trends in Skill and Education Requirements Changing

Trends in Skill and Education Requirements Changing

According to Jennifer Schramm, GPHR, manager of workplace trends and forecasting for the Society for Human Resource Management (SHRM), today’s tough job market has resulted in many individuals working in positions for which they have educational qualifications beyond those required for their jobs. “However this may not be the case down the line,” Schramm said. “Education requirements are climbing for jobs across the board.” That’s the conclusion of research conducted by SHRM in partnership with Achieve (a bipartisan, non-profit organization that helps states raise academic standards), involving a national survey of nearly 4,700 HR professionals. The goal? To find out where HR professionals believe skill and education requirements for various positions are headed in the near future. An Analysis of the Responses Reveals these Important Trends: Almost half of the HR survey participants said that a higher education level is required for most jobs now than ten years ago. Compared …

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