Payroll Integrations' 2024 State of Employee Financial Wellness Report examined the relationship between employees and employers regarding financial wellness. Conducted in April 2024, the survey included 255 U.S. respondents (153 employees and 102 employers) aged 18-65, all employed full-time and responsible for benefits management or at a management level. Key Findings: ✨ Responsibility Perception: * 95% of employers believe they should support employees' financial well-being. * Only 36% of employees feel completely financially stable. ✨ Support Discrepancy: * 49% of employers think they fully support financial wellness. * Only 28% of employees agree. ✨ Investment Priorities: * 41% of employers plan to spend more on financial education (only 18% of employees prioritize it). * Rather 54% of employees want better health insurance and 43% need greater retirement investment. ✨ Retention and Recruitment: * 67% of employees consider retirement plans essential for job offers. * 65% require health insurance as part of the benefits package. Source: Payroll Integrations. Do these findings resonate with your organization's approach to financial wellness? Let's discuss!

Although more companies say they’re striving for pay equity and transparency, about 34% still don’t have a pay equity strategy in place. This was revealed in a study by Beqom, which surveyed 875 U.S. and U.K. salary decision-makers. The results include a detailed breakdown by industry. Industry Breakdown of U.S. Companies Without a Pay Equity Strategy ❗ Technology: 50% ❗ Healthcare: 50% ❗ Hospitality & Food & Beverage: 32% ❗ Retail: 25% ❗ Automotive: 23% Of those companies with a strategy in place (64%), nearly half (49%) say their approach is hurting their ability to attract talent. Pay Equity Issues Uncovered 🚩 65% wage discrimination 🚩 58% below-market salary ranges 🚩 57% promotion disparities 🚩 55% pay compression 🚩 52% lack of performance reviews 🚩 50% gender pay gaps How U.S. Employers Are Taking Action: ✔ 82% listing salary ranges within new job descriptions ✔ 69% increasing salaries based on performance ✔ 69% implementing a process for continuous feedback ✔ 68% increasing salaries due to inflation and the cost of living ✔ 66% increasing pay to correct existing pay gaps and salary inconsistencies These findings highlight the current state of pay equity and actions employers are taking to address challenges. If you'd like to share your thoughts on these findings, let's start the conversation ✍

Deel conducted a comprehensive survey of 1,100 HR decision-makers, revealing key benefits and concerns about the role of AI in HR functions. Here are the main findings. ❗ Current Use and Future Adoption: * 38% of HR decision-makers currently employ AI. * 23% of non-users plan to adopt AI within the next year. * 70% of non-users are unlikely to implement AI within the next 12 months. * Positive Impact Anticipated: * 61% believe AI will positively impact HR practices over the next five years. * 86% of HR decision-makers aged 25-34 expect beneficial outcomes from AI. ❗ Top areas where AI will benefit HR: 1. HR Analytics (46%) 2. Checking employment laws (37%) 3. Employee learning and development (35%) 4. Payroll management (34%) 5. Accessing hiring data/insights (33%) 6. Performance management (32%) 7. Benefits administration (32%) 8. Recruitment and talent acquisition (29%) 9. Employee onboarding (28%) 10. Salary benchmarking (28%) ❗ Demographic Insights: * Youth-driven optimism: 83% of HR decision-makers under 35 are optimistic about AI, compared to 38% of those aged 55 and above. * Larger companies are more receptive: 85% of HR decision-makers in companies with 250+ employees are optimistic about AI, compared to 47% from smaller companies. * Companies with higher revenues lead in AI adoption: 61% of businesses with over $10 million in revenue use AI, while 81% of smaller companies (with under $1 million in revenue) are unlikely to implement AI within the next year. How does your company compare with the survey findings on AI adoption in HR? Any surprises? How do you think age and company size influence attitudes toward AI adoption in HR? Share your thougts 📢

An effective onboarding process is essential to the success of any organization. Here are key statistics showing its impact: * Great onboarding can improve employee retention by 82%. * Structured onboarding can lead to a 60% year-on-year revenue improvement. * Employees with good onboarding are 18x more committed to their employer. * Only 12% of employees agree their organization has a good onboarding process. * 78% of employees would stay longer if they have a clear career path. * 20% of staff turnover occurs within the first 45 days of employment. And even more statistical data: * 53% of HR executives indicated that good onboarding boosts employee engagement rates. (Source: SkillRoad) * As much as 20% of staff turnover occurs within the first 45 days of employment. (Source: SHRM) * Organizations with effective onboarding have 33% more employees feeling engaged. (Source: Bamboo HR) * 25% of companies lose up to 60% of their workforce within a year. (Source: Enboarder) These statistics underscore the critical importance of optimizing your onboarding process. Effective onboarding not only enhances employee retention and commitment but also boosts organizational performance and revenue. Source: Oak Engage ❓ How do you evaluate your onboarding process? Have you conducted your own research or surveys on its effectiveness? 💬 Share your insights and join the discussion in our community!

"It's a basic truth of the human condition that everybody lies. The only variable is about what" (House M.D.) 😜 ⚡36% of hiring managers lie to candidates during the hiring process. ⚡75% lie during the interview, 52% in the job description, and 24% in the offer letter. ⚡The most common lies are about the role’s responsibilities, growth opportunities, and career development. According to research by ResumeBuilder.com. ===== How about those numbers? Have you ever had to not tell the whole truth to candidates or maybe just embellish it a bit? 😉