The Chamber of Catawba County’s Post

🎉 We’re thrilled to share the results of the 2024 Wages and Benefits Survey are now available to this year's participants! Over 75 companies participated, representing more than 23,000 full and part-time positions. That’s nearly 15,000 different data points crunched since Memorial Day! 🚀 Here are just a few insightful takeaways: Enhanced Benefits: Catawba County companies are stepping up their game with increased offerings in key areas related to #DEI and physical and mental health programming. Probably the most notable jumps came from retirement-related benefits (e.g., payroll deduction IRA, long term care insurance, financial planning, etc.) as more and more from the #babyboomer move closer to retirement. Training Trends - Comparing 2023 to 2024 and looking ahead: Leadership and Soft Skills consistently top the list, with increased focus on communication and teamwork. Technical skills and training are projected to grow in areas like automation and data analysis over the next 5 years. Optimistic Hiring Outlook - Companies are gearing up for growth: 75% of local companies expect to expand their workforce over the next 12 months, driven by business growth and the need to fill roles left by retirees. This nearly real-time scan continues to stand out as unique in the landscape, offering participants a leg-up when looking at how to best stay competitive in retaining or recruiting talent. Thank you to everyone who contributed to making this survey a success and please make us aware (nhuret@catawbacountync.gov) if you did not receive the report in your inbox this week! #WorkforceDevelopment #EmployeeBenefits #HiringTrends #TrainingAndDevelopment #FutureOfWork #CatawbaCountyEDC

👩💼✨ Attracting the next generation to federal jobs just got a boost! A recent survey reveals that benefits play a crucial role in appealing to younger workers. From flexible work arrangements to comprehensive health plans, these perks are making federal positions more attractive than ever! 🌟 As the workforce evolves, it’s clear that agencies must adapt their offerings to meet the needs of a diverse and dynamic workforce. This shift not only helps attract top talent but also strengthens the federal workforce as a whole. Curious to know more about what benefits are resonating with younger professionals? Dive into the full survey insights! 🔍💼 https://lnkd.in/eVc4zj6H #FederalWorkforce #AttractingTalent #EmployeeBenefits #NextGenLeaders

Per Nuveen, a TIAA company, and Remy Samuels "70% of respondents said they would be willing to switch jobs for better benefits, with younger workers expressing the greatest willingness to move on." Moral of the story: one-size-fits-all benefits packages don't work (well)! Different generations have different needs/wants. Investing in a hollistic benefits approach give employers a competitive edge. Haven't benchmarked your plans in years? Its time. Be thoughtful when constucting your benefits package. Its worth it. Cerity Partners Jim Trujillo, CFP® PPC®Carlie Palmer Katie Pfeifer, CFP® Angie Duncan, CPA, NQPA™ #totalrewards #401k #HR #benefits

"Employees will always take more money if you offer it. But pay alone isn’t necessarily all it takes to attract and keep good employees." Reminds me of a time I did a survey to get an idea of how to improve my company's benefits plans. At the time we had maybe the highest retirement plan employer matching in the area, which employees loved, but per the survey results they said they'd prefer more money in their paycheck. It was a good reminder that the importance and impact of benefits is a moving target, and we in HR should keep a pulse on what is truly important to employees. It's so easy to get caught up in what's flashy and trendy, but don't let that blind you to what really matters to the people we work with every day. What are your top 5 most important benefits? Are they the same today as they were 5 years ago? And what about 5 years from now? Link to the article in the comments. #ThingsYouHearInHR

Part-time workers typically require fewer benefits than full-time employees, leading to significant savings on medical aid contributions, retirement contributions, and other overhead costs. Read more 👉 https://lttr.ai/AXIcO #HiringSkilledMothers #PartTimeBasis #PartTime

*Financial concerns loom large for employees after the cost-of-living crisis: - 3 in 10 workers say they are worse off than a year ago and have financial issues negatively impacting their lives. - Nearly 9 in 10 workers are worried about being able to pay for basic necessities. *Retirement confidence has fallen: - 3 in 4 employees report they are not saving enough for retirement, and roughly 50% are not on track for retirement. - The share of employees expecting to work past the age of 70 has risen. *Bridging the gap between employee needs and employer priorities: - Employees need help with their financial wellbeing and retirement. - Employees are nearly 3 times more likely to prioritize financial wellbeing than their employer. Northstar #financialwellness #employeebenefits #totalrewards #hr

A recent study revealed a sobering trend: 2.4 million US workers over 50 are considering early retirement due to feeling overwhelmed by rapid technological advancements. This isn't just a brain drain, it's a missed opportunity. 41% of these workers say they'd stay if offered proper training and upskilling programs! Here's what we can do: -Recognize the value of experience. Senior workers bring decades of knowledge and wisdom to the table. Let's leverage that! -Prioritize inclusive learning. Training shouldn't be a young-only perk. Make it accessible and engaging for everyone. -Embrace lifelong learning. The tech landscape is constantly evolving. Foster a culture of continuous learning for ALL employees. By investing in our senior workforce, we can bridge the skills gap, boost retention, and create a more vibrant and innovative workplace for everyone. #TechNeedsExperience #UpskillDontRetire #LifelongLearning #accessibleHR #HR #humanresources #HRconsulting #companyculture #employees #employers #consulting #consultingservices https://lnkd.in/eRtGuWYH

Recruitment Challenges Easing for State and Local Governments Know more:- https://lnkd.in/dYSDtmmP MissionSquare Retirement #hrtechcubenews #humanresources #hrtechcube #talentmanagement #employeeexperience #hrtechnology

Hire to retitre... to rehire - the "new" employee experience. The "retire to rehire" program is no-longer just a catchy rhyme, but a strategy that is becoming increasingly popular with retirees. With a higher cost of living, a lack of savings and overwhelming debt, retirees often have no option but to dust off their resume and get back to it. With retirees complaining about a convoluted hiring process, and companies still being concerned about a lack of technology skills for older candidates, barriers still exist to hiring older workers. The advice from Korn Ferry is to consider interim hires who you can partner up with younger, high-potential workers. Feels like a real win-win to us! Want to get resources, articles and insights like these delivered straight to your inbox every Thursday? Sign up for our newsletter, foHRsight, at link in comments. #newsletter #insights #HR #HRcommunity https://lnkd.in/gyz7huQ3

Employee retention is a top issue for companies in 2024. As employers are looking to attract and #retain top #talent, Aon has found that employers subsidize about 81% of #healthcare plan costs, on average, while employees pay the remainder. Read more in CNBC:  https://cnb.cx/3TQzbRo