BCG Blog

Here we are – the end of the year and the holiday season. Right now, employees face the challenge of budgeting for all the expenses that come with this time of year: food, travel, gifts, and more. Bad budgeting can lead to high credit card debt, hurting their ability to reach other goals, like saving for retirement. Employers can help employees budget this holiday season – here’s how.

A growing number of younger people are looking for “microretirements” as part of their career paths. What is a microretirement, and how can employees and employers work together to benefit each other with this growing trend?

Open enrollment season is often synonymous with stress—for both employees and plan sponsors. With an overwhelming number of benefits options and the complex terminology surrounding them, it’s no surprise that confusion reigns. Fortunately, modern techniques, including new technologies and marketing approaches, are reshaping open enrollment to make it easier, more efficient, and engaging. Here’s what sponsors need to know.

Having a well-curated policy library in place, particularly in case of an emergency, is no longer just a best practice for plan sponsors—it’s essential for effective risk management. This article explores the importance of preparing a policy library, how plan sponsors can proactively secure sample policies from industry groups, and why working with legal counsel is critical to ensuring compliance and accuracy.

In today’s competitive business environment, organizations must continually evolve their employee benefits to attract and retain top talent. One powerful way to ensure that benefits packages resonate with employees is to involve them directly in the decision-making process. Here’s how.

Financial literacy has always been a crucial component of a secure financial future. However, each generation faces unique challenges and opportunities that shape their financial education needs. Now, as Generation Z enters the workforce, plan sponsors must recognize that financial literacy is changing yet again.

Plan sponsors play a critical role in helping employees secure their financial future. While retirement plans are often at the forefront of this effort, it's also important to consider other financial tools that can support employees' broader financial well-being. One such tool is the 529 plan, designed specifically for education savings.

In 2023, the job market underwent changes as it sought to recover from pandemic-related disruptions and grappled with the aftermath of the Great Resignation. The start of 2024 has brought significant changes in how temporary workers are classified and their eligibility for benefits, driven by the SECURE Act and the DOL’s recent ruling on independent contractors.

In recent years ESG investing has emerged as a popular choice for investors looking to align their portfolios with their values. One of the key questions advisors may hear from their clients is whether ESG funds perform as well as traditional investments and if they can be a valuable addition to a diversified investment portfolio. Here is a review of where the industry stands on this area.

In the realm of employee benefits, change is inevitable. Sometimes, however, change comes in the form of cutbacks, which can be unsettling for employees. As a plan sponsor, effectively communicating these changes to your workforce is paramount. In today's landscape, where employees expect transparency and authenticity, navigating benefit cutbacks requires finesse and a departure from traditional corporate speak.