by admin | Feb 22, 2022 | Human Resources, Workplace
Since the start of the pandemic, the gig economy has become more ubiquitous. Human Resources leaders need to understand the new kind of worker attracted to the world of gigs, and learn how to make that kind of non-traditional worker fit into their teams.
Some mistakenly believe that the gig economy, also known as the shared economy, only refers to on-demand jobs like driving for Uber or Lyft or making Amazon deliveries. However, it is also applicable to white-collar jobs. It’s becoming a solution for employees, who need more flexibility, and employers, who need talent during a historic labor shortage. The HR Exchange Network’s State of HR Report revealed that HR leaders hold flexible work culture as a top priority, second only to employee engagement and experience. Buying into gig work might be a way to address both those priorities.
What Is the Gig Economy?
“The gig economy is a free market system in which temporary, flexible jobs are commonplace and companies bring on independent contractors and freelancers instead of full-time employees, and in many cases, for short-term engagements,” according to Embroker.
A look at the numbers demonstrates how important it is for HR leaders to pay attention and get up to speed on how this new kind of work arrangement could influence their business. By 2023, the global gig economy is expected to be a $455 billion industry, according to Harvard Business Review. Two million new workers joined the U.S. freelance workforce in 2020. In fact, one in three working Americans rely on freelancing for all or part of their income. Gallup estimates roughly 57 million Americans are gig workers, according to Forbes.
“The rapidly accelerating growth of the gig economy represents one of the most significant and all-encompassing challenges faced by Human Resources professionals,” according to SHRM. “The fundamental question is whether Human Resources can demonstrate the agility to lead the change in culture, programs, processes, and policies originally designed for work completed by full-time employees to a new era when more of the work is being completed by a talent portfolio increasingly represented by contingent workers (also referred to as gigsters, free agents, temporary help, agency workers, on-call workers, contract workers, independent contractors, or freelancers).”
Pros of the Gig Economy
Affordable Labor
A full-time employee requires a salary and benefits. You have to make hefty investments in training and career progression. Hiring an on-demand worker eliminates the need for all that. You pay them per project or on an hourly basis for as long as you need them. They usually can work remotely or only need to come into an office or place of business on a limited basis.
Specific Skills or Talents
Sometimes, you need an expert in an area for one or two projects and not on a regular basis. Being able to hire contract workers as you need them means you can look for exactly what you need at that moment. You don’t necessarily have to worry about well-rounded skills like you might with a full-time hire.
Flexibility
Freelancers and on-demand hires offer flexibility. Even if you’re renewing a contract with one of them on a regular basis, you only have to pay them for the work they actually do. You can turn to them when the work demands more help or when their particular service will enhance outcomes.
Cons of the Gig Economy
Carousel of Workers
Team dynamics can be hard to pin down when you are always working with different people. Even if you consistently work with the same freelancers, they are not bound by the same participation expectations as full-time workers. This can make it even more challenging to define a culture or help teams better collaborate.
Different Kind of Relationships
There’s more of a hierarchy when you are working with full-time employees. Managers and supervisors oversee their work and usually provide some sort of performance measurements to track their progress. With freelancers, you are their client. They are still working for you, but it changes the dynamic of the relationship.
This becomes most complicated with contingent workers, who work consistently for a company but without job security or traditional benefits. They do this for a number of reasons, including having more freedom over their schedules, being able to work for others, and being their own boss. As a result, the contract dictates their work more than the manager does. However, the manager or company could end up being a dissatisfied customer, and contingent workers can be let go at any time and you don’t have to prove they deserved to be fired.
Lack of Routine
If you’re working with a blended team – full-time employees and freelancers or contingent workers – you might have a hard time creating a solid schedule or routine for the group. Potentially you could still get the job done, but full-time employees might feel inconvenienced or maybe even a bit resentful. They have to be in one place for a certain amount of time, whereas their freelance counterparts are free to work on their own clock.
Obviously, there are pros and cons to the gig economy. But HR leaders can’t afford to ignore the fact that there is a societal shift toward this kind of workplace, where people have more freedom over their schedules, the kind of work they do, and even the relationship they have with employers. There’s still so much we have to figure out when it comes to the gig economy.
“Online gig work has grown increasingly common in recent years – and yet there’s still limited understanding of how to effectively support these non-traditional workers,” according to Harvard Business Review. “While gig workers can benefit from greater flexibility and autonomy than traditional employees, they also face unique challenges: less job security, fewer resources for career development, and often, a strong sense of alienation and difficulty finding meaning in their work.”
In fact, many reports have suggested that HR leaders in the future will provide access to resources regarding benefits like medical insurance instead of paying for it as they would for a full-time employee. Companies may begin to support co-working spaces to prevent isolation of their contingent or freelance workers. The point is that change is afoot, and HR leaders are paving the way for this new work paradigm.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Feb 14, 2022 | Health & Wellness
February is American Heart Month, a time when all people can focus on their cardiovascular health. Do you know how to keep your heart healthy? You can take an active role in reducing your risk for heart disease by eating a healthy diet, engaging in physical activity, and managing your cholesterol and blood pressure.
Heart disease accounts for nearly one-third of all deaths worldwide. Studies and experts recommend exercise as an important way to maintaining a healthy heart, but your diet plays a major role in heart health and can impact your risk of heart disease. The most important factor in healthy eating is having a balanced diet, watching portions, and eating foods you actually enjoy. This will allow you to stick with it for the long term.
Let’s take a closer look at the 4 key factors for a heart healthy diet and examples of how you can incorporate them into your daily life:
1. Fruits and Vegetables:
Leafy green vegetables are well known for their wealth of vitamins, minerals, and antioxidants. An analysis of eight studies found that increasing leafy green vegetable intake was associated with up to a 16% lower incidence of heart disease.
2. Healthy Proteins:
Lean meat, poultry and fish, low-fat dairy products and eggs are some of your best sources of protein. Legumes – beans, peas and lentils – are good, low-fat sources of protein and are a good substitute for meat. Also, substituting plant protein for animal protein – ie. a black bean burger for a hamburger – will reduce your fat & cholesterol intake and increase your fiber intake.
3. Healthy Fats:
Not all fats are bad. Foods with monounsaturated and polyunsaturated fats are important for your brain and heart. Limit foods with trans-fats, which increase the risk for heart disease.
4. Whole Grains:
Whole grains are good sources of fiber and other nutrients that play a role in regulating blood pressure and heart health.
Eating heart healthy is a lifestyle, it’s about nutrition, balance and retraining our mind to make better food choices. What you eat can influence almost every aspect of heart health, from blood pressure and inflammation to cholesterol levels and triglycerides. A well-balanced diet can help keep your heart in good shape and minimize your risk of heart disease. With planning and a few simple substitutions, you can eat with your heart in mind!
by admin | Feb 9, 2022 | Health & Wellness
Workplace wellness programs have increased in the past several years to promote healthy diets and lifestyle, exercise and other behaviors such as quitting smoking. As of 2020, most employers had wellness programs of some kind, including 53% of small firms (those with 3-200 employees) and 81% of large companies. Since employees spend most of their waking hours on the job, wellness programs seem to be a natural fit to try to promote healthy changes in behavior. But, in 2022, employees want more; many workers are looking for employers who show authentic concern for their well-being.
Well-being is about how our lives are going. It’s not only about health and happiness but also about living life to its fullest potential. In fact, data shows that employees of all generations rank “the organization cares about the employees’ well-being” in their top three criteria.
Financial stress soared during the pandemic but so did regular stress, too. Mental health struggles such as anxiety, depression, and substance abuse are also climbing. These are expensive issues to ignore both in terms of the human suffering but also the company’s bottom line: Depression alone costs an estimated $210.5 billion per year. These costs are due to absenteeism (missed work days) and presenteeism (reduced productivity at work) as well as direct medical costs (outpatient and inpatient medical services and pharmacy costs).
Employers must recognize the interrelationship between the physical, financial, work and well-being components of employees’ lives. For example, employees who need help with their financial well-being are significantly less likely to be physically healthy and more likely to report feeling stressed or anxious which can impact productivity and job performance. Vice President for Communications at Fidelity Investments in Boston, Mike Shamrell, recognizes the need for all dimensions of wellness. “It’s tough to be well in one area when you’re unwell in another,” he said.
Well-being is often associated with gym memberships and green smoothies but it is much more than that; it is a result of many different aspects of one’s life. Here are 5 common dimensions of well-being that can be addressed through a workplace wellness program:
- Emotional/Mental Health – Understanding your feelings and coping with stress.
- Physical Health – Discovering how self-care can improve your life and productivity.
- Financial Health – Successfully managing your money.
- Social Connectedness – Creating and being a part of a support network.
- Occupational Well-Being– Feeling appreciated at work and satisfied in your contributions.
Great employees want great employers. Companies that want creative, high-performing teams must be willing to support workers both in and out of the office. Well-being has a major influence on an employee’s performance and satisfaction; employees who feel valued and appreciated are more invested in their company in return.
by admin | Feb 1, 2022 | Health & Wellness
While the new year feels like a fresh start for most workers, it’s also expected to come with a spike in health insurance premiums. Premiums and deductibles have been steadily increasing for years. The Kaiser Family Foundation (KFF) found that premiums for a family rose 4% in 2021, according to a survey focused on employer-sponsored benefits.
The average family pays $22,221 in premiums, according to KFF. Workers contributed $5,969 toward their coverage, while employers paid the rest. In fact, since 2011 the average family premiums have increased 47%, which KFF found was more than wages (31%) and inflation (19%).
Not only is this a financial hardship for American families, but it’s also draining companies that are struggling to maintain employee coverage. To complicate the matter, several federal programs providing support for healthcare are due to expire in 2022.
What to Expect in Healthcare Coverage
Rising healthcare premiums are only part of the problem. Deductibles are also skyrocketing. This is the amount workers have to pay before insurance kicks in and could make a huge financial difference for families dealing with a serious health issue.
The average single deductible has doubled in the last decade to $1,669. For the more affordable healthcare plans, deductibles can be as high as $8,000. Overall, 85% of the 155 Americans with employer-sponsored coverage have a deductible.
Another survey conducted by the Business Group on Health anticipates healthcare costs increasing by as much as 6% in 2022. Analysts pointed out that 2021 rates actually flattened out slightly because many Americans avoided treatments during the pandemic. That’s expected to end in 2022, which will drive up prices. Of all employers surveyed by BGOH, 94% expected higher medical costs because of delays in treatment.
Expiring Federal Support Programs
Federal legislation is also expiring in January 2022. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was one of the first bills signed in 2020 to help workers. It gave money to businesses, enhanced unemployment programs, and funded hospitals.
One provision known as “safe harbor” allowed high-deductible health plans to cover telehealth and remote care services at little to no cost. The CARES act expired on December 31 and will now impact who is eligible for telehealth services.
Another rule under the American Rescue Plan Act (ARPA) in 2021 allowed for mid-year election changes for Dependent Care Reimbursement Accounts (DCRA). This allowed workers to elect higher limits to help pay for childcare pre-tax. The ARPA also expires on December 31. If the new higher exclusion limit is not extended into 2022, families will have to contend with the previous $5,000 limit.
Around 30 million Americans get their health coverage from the Marketplace, which was established by the Affordable Care Act. With more enrollees and more available plans in 2022, experts anticipate a change in premium subsidies that could increase the total price people have to pay.
Navigating the Future
Regardless of what employers decide to do, HR departments need to be proactive in guiding employees through the process. Healthcare decisions are complex and no company wants disgruntled workers as a result of cutting or switching plans without notice. Clear communication and assistance are necessary to ensure a smooth transition that is beneficial for everyone.
Companies and HR departments should also keep in mind that the benefits they ultimately choose will define future recruiting. Healthcare benefits are a top decision-making factor for most prospects.
By Mckenzie Cassidy
Originally posted on HR Exchange Network
by admin | Jan 26, 2022 | Health & Wellness
It can sometimes feel as if we’re bombarded with information about the latest eating trend or buzzworthy ingredient. But good nutrition is really about having a well-rounded diet, and it’s easier to do than you may think. In fact, living a nutritious lifestyle can be easy and fun.
Nutrition is about more than vitamins—it also includes fiber and healthy fats. Now is a perfect time to learn simple ways to help your whole family eat healthier.
Need tips specifically for young children? Learn how to introduce kids to healthy foods.
Add healthy fats.
Not all fats are bad. Foods with monounsaturated and polyunsaturated fats are important for your brain and heart. Limit foods with trans fats, which increase the risk for heart disease. Good sources of healthy fats include olive oil, nuts, seeds, certain types of fish, and avocados.
Try this:
- Top lean meats with sliced avocado, or try some avocado in your morning smoothie.
- Sprinkle nuts or seeds (like slivered almonds or pumpkin seeds) on soups or salads.
- Add a fish with healthy fats, like salmon or tuna, into your meals twice a week.
- Swap processed oils (like canola or soybean oil) for oils that are cold-pressed, like extra-virgin olive oil and sesame oil.
Cut the sodium.
Good nutrition is about balance, and that means not getting too much of certain ingredients, such as sodium (salt). Sodium increases blood pressure, which raises the risk for heart disease and stroke. About 90% of Americans 2 years old or older consume too much sodium. For most people ages 14 years and older, sodium should not exceed 2,300 mg per day.
Try this:
- Avoid processed and prepackaged food, which can be full of hidden sodium. Many common foods, including breads, pizza, and deli meats, can be sources of hidden sodium.
- At the grocery store, look for products that say “low sodium.”
- At restaurants, ask for sauces and dressings on the side. Get more tips for lowering sodium while eating out.
- Instead of using salt, add delicious flavor to your meals with a squeeze of fresh lemon juice, a dash of no-salt spice blends, or fresh herbs.
Bump up your fiber.
Fiber in your diet not only keeps you regular, it also helps you feel fuller longer. Fiber also helps control blood sugar and lowers cholesterol levels.3,4 Fresh fruits and vegetables, whole grains, and legumes (beans and peas) are good sources of fiber.
Try this:
- Slice up raw veggies and keep them in to-go baggies to use as quick snacks.
- Start your day off with a high-fiber breakfast like whole grain oatmeal sprinkled with pecans or macadamia nuts.
- Steam veggies rather than boiling them. When buying frozen veggies, look for ones that have been “flash frozen.”
- Add half a cup of beans or peas to your salad to add fiber, texture, and flavor.
Aim for a variety of colors on your plate.
Foods like dark, leafy greens, oranges, and tomatoes—even fresh herbs—are loaded with vitamins, fiber, and minerals.
Try this:
- Sprinkle fresh herbs over a salad or whole wheat pasta.
- Make a red sauce using canned tomatoes (look for “low sodium” or “no salt added”), fresh herbs, and spices.
- Add diced veggies like peppers, broccoli, or onions to stews and omelets to give them a boost of color and nutrients.
Are you eating healthy to help you get to a healthy weight? Learn more about balanced eating.
Originally posted on Centers for Disease Control and Prevention (CDC)
