Australian baby boomers are retiring with significantly less savings than required for a comfortable lifestyle. Businesses can help bridge this gap by enhancing superannuation contributions, offering financial education, and promoting wellness programs.
Companies valuing their people should consider ways to support employees' financial well-being. The first step is to ask employees what would improve their work experiences. Only 12% of employees are regularly asked about this
Humanforce's research underscores the essential role of HR technologies in enhancing a business's EVP. Impressively, 96% of Australian workers surveyed emphasized that technological innovations are vital for fostering positive workplace experiences.
By creating a comprehensive and supportive benefits package, organizations can foster a more engaged and productive workforce, leading to improved business performance, enhanced employee satisfaction, and stronger customer loyalty.
Flexibility is the key word. This shift is characterized by personalized salary packages, comprehensive health and wellness programs, and robust retirement planning options, all designed to offer employees greater autonomy and security.
The reduction in employee growth is not the sole critical concern confronting SMEs. Additionally, the report underscores the escalation in wage growth, labelling it as unsustainable.
Dana Rogers highlighted the discrepancy: 75% of employees prioritise financial wellness in compensation plans, yet only 28% of employers provide such benefits.