Health care costs are steadily increasing, causing many employers to make adjustments to their company’s benefits offerings. Now, instead of offering employer-sponsored coverage, companies are turning to voluntary products to save money.
Recent statistics show that in addition to economic sluggishness and fewer jobs for American employees, the Great Recession also has contributed to an increased incidence of employee disability claims. Employers are doing more with less due to the economy, which, in turn, is taking a toll on employees. Larger workloads and longer hours often cause employees stress or even health issues.
A stunning statistic: Today, households headed by adults younger than 35 have 68 percent less wealth than households headed by adults of the same age in 1984.
In the last 10 years, the net worth of an average American employee has dropped significantly; from 2007 to 2010 alone, the median net worth of American families dropped nearly 40 percent.
Take a moment to think back to the year 2000. How has your job changed since then? How has your HR department evolved in keeping employees productive and engaged?
In 2000, if you had known then what the workplace of 2011 would look like, what would you have done differently to prepare? How are you preparing for the next 10 years? In my book, The 2020 Workplace, there are some valuable predictions on the future workplace and ways to get ready for the inevitable changes.