Are You Supporting Your Employees’ Financial Wellness?

Are You Supporting Your Employees’ Financial Wellness?

A healthy work environment is one that considers all aspects of employees’ well-being. This includes physical, mental and yes, financial wellness.

If that last one is a surprise to you, check the pulse of your employees. Many of them want guidance through tough financial situations. Are giving them they support they need?

Wish List

Holistic financial wellness for employees goes beyond offering them a 401(K). A recent study showed a gap between programs employers think they should offer and what employees think should be available to them

For example, student loan debt is a well-known financial hurdle. The average borrower graduates college with $37,000 in debt. It can prevent younger employees from buying homes or achieving other financial milestones. Survey results show 46 percent of employees want their companies to help them pay off or finance student loan debt. 18 percent of bosses agreed.

You may have heard the financial mantra that you need an emergency fund that covers three to six months of living expenses. Unfortunately, according to a Bankrate survey, 23 percent of Americans have no emergency savings. In fact, 22 percent have only saved enough to cover fewer than three months.

It follows, then, that 44 percent of workers want their companies to offer them help to create that emergency fund. Only 22 percent of employers agree they should offer such help. With an emergency fund part of an overall budget plan, 36 percent of employees would also like assistance to maintain their budget.

Let’s Talk About Money

They are more examples of this divide, but you get the idea. Employees are looking to you, as an employer of choice, to throw them a financial life raft. We recommend using employee communications throughout the year to give workers support. Here are a few ways to get you started:

      • Use pay increases to as a time for a financial wellness conversation. Communications can encourage employees to tuck that extra money into their emergency fund. Create an infographic that shows even small increases can have big impacts. Show them how even a three percent raise on a $50,000 salary offers them an extra $1,500 per year. Total rewards statements help employees see the whole picture of their compensation. They will understand and appreciate the employee value proposition and you as an employer.
      • Create a savings account guide. This is a communication that lays out all the ways employees can save money. They’re no longer limited to stowing their money at their local bank. Online savings and money market accounts offer better interest rates. Or, your 401(K) provider may also offer a savings vehicle with a good rate of return. Show the pros and cons of different account providers. Teach employees where they can learn more about savings options.
      • Use communications to show employees where they’re leaving money on the table. Does your company match 401(K) contributions? Explain to workers how that’s essentially “free” money. Send year-end reminders to workers enrolled in flexible savings accounts so they remember to a use funds before expiration. Create a handy checklist of eligible expenses.

Awareness is the First Step

Open enrollment is another logical time to support workers to make wise financial choices. Encourage employees to choose plans that get them the care they need at a price they can afford. For example, HDHPs can be a vehicle for financial wellness for employees. These plans take a smaller chunk out of paychecks. In your communications, illustrate that difference. Employees can funnel the money they save from making smart benefits decisions towards student loan or other personal debt.

Workers might not know money in health savings accounts, which go hand-in-hand with HDHPs, grows tax-free. That money is theirs forever; it travels with them when they change jobs. And when employees are 55 years old, they can sock away an extra $1,000 annually. Create targeted, forward-thinking communications for baby boomers. When they retire, they can use their HSA to pay for covered medical expenses. Tell them that saving now can stop headaches in the future.

Encourage smart financial decisions in year-round communications. Your employee intranet is a smart place to house on-demand financial education. You can poll your workforce on the financial worries that keep them up at night (anonymously, of course!) Then, create and post short, educational videos, infographics, and fact sheets on those topics. Develop a mix to appeal to various learning and communications preferences. If time or resources are tight, you can link to educational videos and podcasts from outlets like You Need a Budget.

Personal financial stress affects all areas of life, including work performance. Help your workforce shine at home and at work. Use communications to show you look out for employees’ physical, mental and financial wellness.

 

 

 

 

 

Danielle Love

Written by Danielle Love

Danielle is a benefits communications specialist, working on behalf of clients to write, edit and design dynamic print and virtual communications. She also manages the Trion Communications blog, which highlights the practice’s diverse areas of expertise.

Trion Communications Danielle.Love@trion-mma.com

Save Time with More Effective Meetings

Save Time with More Effective Meetings

Have you ever sat in a meeting and wondered, “did we really need a meeting for this?” You’re not alone. According to the Harvard Business Review, 71% of senior managers said meetings are unproductive and inefficient. 65% said meetings keep them from completing their own work. When used effectively, face-to-face meetings can be a valuable tool. Unfortunately, in the corporate world, effective meetings are not always the case.

The Dark Side of Meetings

On average, employees spend 62 hours each month in meetings – almost 40% of their working time! This takes away from the time that they have available to actually work on their assignments.

In addition to being a time waster, ineffective meetings also:

  • Reduce productivity. When interrupted, it can take up to 23 minutes to refocus on a task. With several meetings scattered throughout your work day, you spend a lot of time and energy trying to recapture your focus.
  • Lead to burnout. In order to concentrate and complete their work, many employees are cutting into their personal time to work early or stay late. Over time, this can cause them to become exhausted and stressed, resulting in lower employee engagement and higher turnover.
  • Waste money. More than $37 billion per year is spent on unproductive meetings. Calculate the cost of everyone in attendance at your last meeting. Was the work or decisions made during the meeting worth that cost?

Consider Other Communication Channels

Meetings are just one channel for you to communicate with colleagues. There may be a more effective (and efficient) way to deliver your message. Think about what you want to accomplish and consider the following alternatives:

  • I want to share information or update: Send an email.
  • I want to teach a new feature/program: Send a video.
  • I want real-time responses: Call or send an instant message.

Make Your Meetings More Productive

Sometimes, however, you need to conduct effective face-to-face meetings. Follow these tips to make your meetings more efficient and productive.

  • Keep it short. The average person pays attention for about 10-18 minutes before they tune out. Only about 73% of people pay attention after the 30-minute mark. Keep your meetings effective by keeping them short. This maximizes employee engagement.
  • Don’t schedule in 30-minute blocks. According to Parkinson’s Law, work expands to fill the time available for completion. Similarly, meetings tend to expand to fill the allotted time. So if you only need 20 minutes, schedule a 20-minute meeting.
  • Consider your audience. Determine whose attendance is needed to conduct an effective meeting. For noncritical people, send them a recap email afterwards or make their attendance optional.
  • Set a clear agenda and goals. Share an agenda with the topics you need to cover and the goals you want to achieve. This will help your meeting stay focused and purposeful.
  • Send materials ahead of time. Ask participants to review materials before the meeting and come ready for discussion. This reduces the time spent going through materials together.
  • Keep everyone focused. Ban the use of outside technology to keep participants more engaged and focused on the topic at hand.

Andy Grove, former CEO of Intel, once wrote: “Just as you would not permit a fellow employee to steal a piece of office equipment, you shouldn’t let anyone walk away with the time of his fellow managers.” It is time for us to respect each other’s most valuable asset, our time, and think twice before we schedule an ineffective meeting.

Anna Li

Written by Anna Li

Anna is an internal communications specialist. Working with key internal stakeholders, she develops and executes the internal communications plan for Trion. She also manages the Trion intranet to help foster greater collaboration and engagement between employees.

Trion Communications Anna.Li@trion-mma.com

A Day in the Life of a Trion Intern

A Day in the Life of a Trion Intern

From working on social media projects and writing blogs; from sitting in on meetings and working on requests for proposals, to learning from seasoned employees, having breakfast with the CEO and going to a Phillies game, there was never a dull moment in Trion’s summer internship program. Being a Trion intern was a very rewarding experience because of the way they run their program and the way they treat each one of us.

When I first learned that I’d gotten this internship in the marketing department, I was both excited and scared. After all, this would be my first “real” experience working in Corporate America. After studying it in school, I was eager to learn if marketing was something I’d actually like in practice. I wondered if I’d get a better idea of where I wanted my career to go. I wanted to fit in with the other interns and employees.

I was also nervous. I had no idea what to expect about the company itself, the culture, the summer internship program or what was expected of me. Stepping into my first day of orientation was thrilling and intimidating. Now, looking back at the experience, I’m happy to say I’ve learned more than I could have hoped.

Understanding Expectations is Key

Having a clear understanding what was expected of me in the role helped me feel comfortable and valued. Trion’s clearly defined expectations gave me the structure I needed to do my best and reach my fullest potential. Interns were supposed to do our best work on projects, meet deadlines, show up to meetings on time, and work 40 hours each week.

I appreciated that team leaders didn’t just have me get coffee or file papers. They gave me real work. My projects were shared with clients, used by other employees at Trion and posted on the company website. Leaders also gave feedback to help me learn and show me they appreciated my dedication to a job well done.

It’s Nice to be Appreciated

Their guidance and appreciation were two of the many ways the people at Trion showed they cared about our experiences at the summer internship program. They put a lot of time into preparing for us. They set up meetings, lunch and learns, and other activities to help us get the most from our internships.

Our internship leaders consistently checked in to answer our questions and assigned us each a mentor. They let us make mistakes and gave us feedback that helped us do better the next time. They gave us deadlines so we could learn how to manage our time, and they followed up to make sure we were never unsure about what we needed to do.

There’s no Shame in Asking for Help

I will be the first person to admit one of my weaknesses is communicating especially when I am confused. No one at Trion made me feel bad about asking for help. To the contrary, my colleagues encouraged my questions and were eager to teach me. They were generous with their feedback and critiqued my work when appropriate. They encouraged me when I was tenuous and praised me for a job well done.

I can say with confidence my communication skills have grown tenfold during this summer internship program at Trion. I learned to be more confident and comfortable asking questions. I’m now more professional in how I talk, write, and interact with the professionals around me.

Soak it All In

Being new to the world of insurance and benefits, I had many questions. Every single employee I met was open and available to answer my questions. We had an opportunity to meet with employees from different parts of the organization. We learned more about what they did and how they got to Trion. We sat in on meetings and phone calls and went to training programs to learn more about the insurance industry, the roles of each employee, and how to be professional in business. These skills would serve us both professionally and personally.

While I came into this summer internship program unsure, I left with newfound confidence and knowledge. I am thankful for the time I spent at Trion and for all the wonderful people I met. I would recommend this internship program to anyone looking to leave with important skills they can use in the “real world.”

 

 

Paige McQuillen

Written by Paige McQuillen

Paige McQuillen is a summer marketing intern for Trion. She is a rising Junior at the Catholic University of America in Washington, DC, where she majors in Marketing. Paige enjoys using her creativity in her writing and has previous experience with blogging.

Trion Communications paige.mcquillen@trion-mma.com

A Benefits Communication Parable

A Benefits Communication Parable

Way back, when I was new to benefits communication, I hardly had any idea what I was getting involved with. Old timers tried to warn me that this niche tested the ability, skills and will of the best in the communications field. Properly communicating to employees the differences between an HSA and an FSA is an art, and not every consultant has the chops to make it.

“Poppycock.” That was my response. I had been in the publishing field for years. How much worse can this be?

Having had enough of my flip attitude, one wizened, battle-scarred consultant pointed a crooked finger in my direction. “You laugh now, you mock our experience and the wars we fought,” the consultant growled.

“But you, YOU,” shaking her finger directly at me for added emphasis, “have never seen how poorly executed benefits communications can devour an employee population from the inside. The CHAOS from carpet bombing employee populations with unintelligible letters and memos. ENTIRE employee populations zombified and beating down the doors of human resource managers. Managers with their own questions and few answers…”

“Whoa,” I rolled my eyes. “Kill the theatrics.”

The consultant pointed to the log in her cubicle, beckoning me to sit.

“Listen to my tale of woe before you dismiss me,” the veteran said as she began to build a fire.

“A campfire… in the office?” I thought to myself. But, sit down I did. What else would you do when someone is about to be escorted out by security for trying to burn down the building? Something had pushed her too far. I needed to hear her story.

“I was there the day the communications died. When it all went wrong. When a thousand benefit plans were ripped asunder and shattered the hopes and dreams of many.”

As the consultant spun her tale, more co-workers gathered by the campfire and took a seat on the log. All of them, might I add, a bit in shock by the scene they were witnessing. The veteran paced back and forth with a wicked grin on her face.

“Come on, you must be exaggerating. No one has ever died because they did not receive their benefit communications!” one of the gathered team members asserted.

“Don’t be so smug,” the veteran answered with a snarl. “Without the necessary communications, anything can happen.

“Why, if they aren’t properly informed on where to go for care, employees may flounder on whether to go to the urgent care or the emergency room,” the veteran continued. “A severe infection may not get treated in a timely matter. A small splinter could cause a serious infection, gangrene could set in…”Tthe veteran paused. “Then… AMPUTATION!” the veteran bellowed.

The assembled audience, their tension relieved, burst out in laughter and eye rolls. They assumed this had all been the gag of a stressed out co-worker.

With a loud “Boom!” the veteran’s fist slammed down on her desk.

“You think this is all a joke!?!?” The veteran screamed in a creepy, high-pitched voice. With malice, the consultant hoisted her hand in the air above the gathering.

Where there had once been a hand, there was now the glistening steel of a sharp, hooked claw at the end of the veterans forearm. Since this was a detail no one had ever noticed before, there was much confusion amongst the team.

Finally, I asked, “Wait… are you able to use FSA or HSA funds for your prosthetic appliance?”

“Good question!” the veteran answered. “Now, THIS is why employee benefit communications are so important.”

Aaron Roshong

Written by Aaron Roshong

Aaron creates design concepts that use our clients’ unique style guidelines and branding to visually engage their employees. He also creates custom marketing designed to engage new business prospects, and oversees our graphic design team, providing art direction and design for all media.

Trion Communications aaron.roshong@trion-mma.com

Don’t Get Trampled by the Elephant in the Room

Don’t Get Trampled by the Elephant in the Room

It seems there’s a big elephant in nearly every room these days. We live in strange times, when even close family members are divided over certain issues. When good friends might not want to bring up certain subjects.

While this can be painful in our personal lives, it can be downright dangerous in the workplace. You never know when a seemingly innocuous comment will ignite a co-worker’s—or superior’s, or client’s—unconscious bias, and lead us to places no one wants to go.

Naturally, it’s best to avoid bringing up these subjects in the workplace. But what if someone else brings it up? Or worse, what if you’re asked a direct question by someone you can’t just easily dismiss?

Those are tricky situations. However, there are strategies you can use to gracefully, even elegantly, defuse a situation that could easily get out of hand. Here are a few tips to get you started:

1. Change the subject without looking like you’re changing the subject. This is one of my favorites. Of course you’d just like to say, “How about them [insert local football team here],” but that’s not always practical. Instead, use a kernel of the imminent conversation to bring the subject around to something that’s more comfortable for everyone. Something like:

Potential conversation destroyer:Anyone who voted for that loser is basically a traitor. Did you vote for [him/her]?”

You: “You know, speaking of treason, I went to see Hamilton the other night, and besides being a FANTASTIC musical, I learned a lot about the birth of the country and our founding fathers. Anyone else see it?”

If you’re in a group, hopefully you’ll gain an ally with this who will come to the rescue (even if they haven’t seen the show), and now you’ll be talking about something completely different.

2. Be politely direct. “You know, I’ve always had a personal rule to never discuss politics or religion at work. Is that all right with you?”

This might not always work, but you’re making it clear where you stand and drawing a boundary that the other person must now consciously choose to cross.

3. Invent a distraction. In this case, your smartphone might be your best friend. If your phone is in your pocket, make believe its vibrating, pull it out, and say, “Excuse me, I need to take this, my [brother/aunt/dog] is in the hospital and we’re waiting for word.” Then leave the room to have your make-believe conversation.

Yes, it might not be the most elegant solution, but desperate times sometimes call for desperate measures. When you return, make sure you have a topic of conversation ready that you can immediately launch into, so as to avoid the previous topic.

These are good places to start, but I’m sure you can think of even better ways to defuse a potentially explosive situation. In fact, this might be a good exercise for a team-building situation: “How would you avoid a direct question about religion or politics?” Sounds like a good brainstorm subject to me!

Stephen Trimble

Written by Stephen Trimble

Stephen is an experienced communications professional with a background in educational and internal communications. He is most excited by transforming complex and obscure subject matter into compelling content that readers are motivated by and can truly understand.

Trion Communications stephen.trimble@trion-mma.com

5 Ways to Curb Overwhelming Emotions at Work

5 Ways to Curb Overwhelming Emotions at Work

I am, have always been, and will likely always be, the sort of person who “wears his heart on his sleeve,” as the old expression goes. In other words, my emotions are never far from the surface. My wife tells me that I am a man of deep feeling, and I cannot argue.

This, as you might imagine, has its advantages and disadvantages ‒ most of which I will not explore here. But with respect to the workplace, someone like me has to be mindful of his emotional character, and not let it impede interactions with co-workers or, more importantly, with clients.

As you might have seen with some of the other recent blog entries, most of our clients have recently gone through “open enrollment,” meaning the annual event in which all of their employees must choose their benefits for the upcoming year. This is a very high-stress time for us here in the Communications Practice of Trion ‒ and this was my first one. It was a good time to test my adaptation skills.

So for open enrollment and other situations, it’s important that I be able to control my emotions. Of course, it isn’t always easy, so I’m constantly looking for tactics and tips that can help me out. Recently I came upon an article from Psychology Today that has some excellent advice for when your emotions are in danger of escaping your control and wreaking havoc about the office and your co-worker relationships.

1. Select the Situation. If there’s a circumstance that always, without fail, causes your heart to beat fast and your ears to turn red (a sure sign that I’m about to blow), try your best to control for that situation. For me, it’s when clients wait until the last minute to get their changes on a piece back to us, then expect us to drop everything and get those changes done yesterday.

While sometimes this is unavoidable, there are things you can do to reduce the chances of it occurring ‒ one good way is the “drop-dead email.” Draft a note in the friendliest tone possible, explaining that if we don’t have the edits by such-and-such date, we risk not being able to fulfill our timeline, because of this-and-that reason. Now, this will not always work, and perhaps not even most of the time. But it does help to know that you’ve done everything possible to avoid that situation.

2. Modify the Situation. Perhaps there’s a deliverable that you haven’t mastered yet. And trying to master it for the upcoming deadline is making you nuts. Well, maybe this isn’t the time to try and master it. Instead, try switching with a co-worker for something you do well, and hand off this one impossible task. Or, perhaps it’s as simple as asking for help ‒ being afraid to ask can add to stress in a big way.

3. Shift Your Attentional Focus. There’s one thing that’s getting under your skin. You can’t get it off your mind, and if you see it or hear it one more time, you’re going to flip your lid. Well, that’s your fault. You’re in control of yourself, remember ‒ you’re the master of your domain. You choose what to pay attention to, what to let in, and what to refuse to acknowledge. Go ahead, refuse to acknowledge that one thing that bothers you so much. Take a walk instead. Play a quick game of Pokemon. Put on your headphones and listen to the new album you just got.

4. Change Your Thoughts. I’m going to quote the article here, because it’s right on: “At the core of our deepest emotions are the beliefs that drive them. You feel sad when you believe to have lost something, anger when you decide that an important goal is thwarted, and happy anticipation when you believe something good is coming your way. By changing your thoughts, you may not be able to change the situation, but you can at least change the way you believe the situation is affecting you.” Absolutely. You control your thoughts, and you control your beliefs. Take charge of them.

5. Change Your Response. If you can’t do any of the above, harness your willpower and change how you respond to any given situation. If you’ve got to shout or explode, find a quiet room. If you can’t help it, type out that nasty email ‒ but don’t hit send. Just let it sit there until later, and maybe just reading it back to yourself will help you feel better.

Stephen Trimble

Written by Stephen Trimble

Stephen is an experienced communications professional with a background in educational and internal communications. He is most excited by transforming complex and obscure subject matter into compelling content that readers are motivated by and can truly understand.

Trion Communications stephen.trimble@trion-mma.com