November 27

21st Century Living

Tuesday’s Big Idea

Core Skill: Making Smart Choices

The last few decades have seen a shift from a "defined benefit" to a "defined contribution" model, in which employees have been given more choices to manage the types of benefits they would most like to receive.

And yet, increased choice brings along with it increased risk. For instance, who wouldn't want paid time off? It has an immediate payoff, and in fact, a large number of employees who were surveyed in a recent Mercer study released today indicated paid time off ranked high for them.

These immediate payoffs, however, can come at the cost of long-term benefits, such as protection from a catastrophic loss that could come in the form of a large hospital bill, for instance. So how can companies help employees make smarter benefit choices? Mercer's Dave Rahill provides insight in today's lesson. 

 

  1. 1 Helping Employees Make Smart Bene...
  2. 2 Why We Make Bad Decisions About M...
  3. 3 Drowning in Benefit Choices? How ...
  4. 4 Retirement Shock : A Little Hand-...
   
  1. Helping Employees Make Smart Benefit Choices

    Helping Employees Make Smart Benefit Choices

    Increased benefit choice brings along with it increased risk. For instance, what if employees choose options like paid time off at the expense of long-term benefits that will be much more valuable to themselves and their families over time?

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  2. Why We Make Bad Decisions About Money (And What We Can Do About It)

    Why We Make Bad Decisions About Money (And What We Can Do About It)

    Ever wondered what you were thinking after making a bad decision? Daniel Kahneman explains.

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  3. Drowning in Benefit Choices? How Businesses Can Restore the Balance

    Drowning in Benefit Choices? How Businesses Can Restore the Balance

    Employers don’t want to patronize employees by making all of their benefits decisions for them, he says, but they can go a long way toward helping workers to understand their options.  

    Read More…
  4. Retirement Shock : A Little Hand-Holding Goes A Long Way

    Retirement Shock : A Little Hand-Holding Goes A Long Way

    As more people than ever reach old age around the world with less and less in savings, Nobel prize-winning economist Paul Krugman explains how employers can educate their employees about preparing for retirement.

    Read More…