Employees with student loan debt may experience financial stress and be less likely to participate in employee-funded benefit plans like 401(k) plans, life insurance and disability plans, voluntary benefits, and even health insurance. Keeping the benefits “status quo” may not only be counterproductive with respect to employees with high student debt loads, it can also limit a company’s ability to attract and retain Millennials. Employers are using various benefits strategies to address employees whose ability to save for retirement and weather financial crises is affected by student loan debt.
Have you ever seen this scenario play out? You have an employee who is a strong individual contributor in their department. Consistent with the organization’s goals to develop employees and promote from within, you move your rock star to team lead, supervisor or some similar management role. But it doesn’t take long for problems to develop — the newly promoted employee struggles to deliver results.
Employers receive, retain and maintain a significant amount of information about each employee. You and your colleagues must be prepared to respond to requests for information to ensure that you are appropriately protecting employee information and not exposing the organization to legal liability.
With the help of innovative partnerships, on-site and near-site clinics are becoming available to more employers. In northeast Wisconsin, Appleton School District and the City of Appleton are leading the way. Officially named the Connecting Care Clinic, this resource has been hugely popular since it opened in October 2016.
Send a Message
Find a Location