|By PR Newswire||
|January 9, 2014 09:20 AM EST||
LINCOLNSHIRE, Ill., Jan. 9, 2014 /PRNewswire/ -- As U.S. companies grow increasingly concerned about the financial well-being of their workforce, a new survey by Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), finds that employers are looking for new ways to improve the long-term financial health of their employees in 2014.
Aon Hewitt surveyed more than 400 U.S. companies, representing nearly 10 million workers, to determine their current and future approach to financial wellness benefits. According to Aon Hewitt, 76 percent of companies surveyed are somewhat or very likely to expand their focus on the financial well-being of their employees in 2014.
"In the past, companies were primarily concerned about whether workers were participating in their 401(k) plans, but we're now seeing employers expand their focus beyond just retirement savings to help workers improve their overall financial health," said Rob Austin, director of Retirement Research at Aon Hewitt. "A growing number of companies are offering tools and services to help employees make smarter financial decisions, which can help improve employee engagement and productivity as workers focus less on financial stressors."
According to a separate Aon Hewitt survey of more than 2,800 workers and their dependents, an individual's financial situation is the most commonly cited stress factor, and 51 percent of workers surveyed said that stress caused them to be less productive at work.1 To help workers better manage their financial health, Aon Hewitt's survey shows companies are planning to take the following steps in 2014:
Providing help to manage budgets. A growing number of employers realize that basic money management plays a critical role in an individual's financial well-being. To ensure workers are able to pay for day-to-day living expenses, a quarter of employers are very likely to provide some assistance to employees to help with budgeting.
"Employers understand that workers can't adequately save for retirement if they don't have their financial house in order," added Austin. "To help employees take this first step, companies are offering and promoting services to help them manage their debt while also encouraging them to save."
Offering tools and resources to improve saving and investing decisions. Aon Hewitt's survey found that more companies plan to offer access to advice, tools and resources that help employees examine their overall financial picture. Increasingly these resources allow workers to consider a variety of factors including expected retirement date, all income sources—not just their paycheck from their employer, and other details of their personal financial situation.
Companies are providing these types of advisory services through a variety of channels:
- Online: Nearly half (44 percent) of employers currently provide access to online third-party investment advisory services and another 14 percent are somewhat or very likely to offer them in 2014.
- Phone: More than a third (35 percent) of companies provide access to third-party financial advisors via phone and another 14 percent are somewhat or very likely to do so in the next 12 months.
- Face-to-Face: Nearly one quarter (23 percent) of employers offer face-to-face meetings with financial advisors and another 10 percent are somewhat or very likely to add this feature in 2014.
Simplifying investment options. Employers continue to offer options to provide workers with a simple and straightforward approach to investing. Most employers (79 percent) offer target-date funds in their defined contribution plans as a turn-key approach to saving. Of those that do not currently offer them, 36 percent are somewhat or very likely to add this feature in 2014. More than a third (39 percent) of companies offer managed accounts, with nearly one quarter (24 percent) of the remaining group somewhat or very likely to offer them in the year ahead.
"To ensure that they're making the most of their retirement savings, workers need to take an active role in managing their 401(k) through regular rebalancing and re-evaluation of fund choices," explained Austin. "However, many employees feel they either lack the time or the understanding to make sound investing decisions. Features like target-date funds and managed accounts help workers stay on track to meet their retirement savings goals by making some of the investment decisions for them."
Click here to read the report highlights.
Sign up for News Alerts: http://aon.mediaroom.com/index.php?s=58
Follow Aon Hewitt on Twitter: @AonHewitt
About Aon Hewitt
Aon Hewitt empowers organizations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organizational and personal performance and growth, navigate retirement risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness. Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide. For more information on Aon Hewitt, please visit www.aonhewitt.com.
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 65,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.
1 Aon Hewitt 2013 Consumer Health Mindset Survey.
SOURCE Aon plc
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Aug. 31, 2016 10:11 AM EDT
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 31, 2016 09:30 AM EDT Reads: 1,085
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 31, 2016 09:00 AM EDT Reads: 937
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Aug. 31, 2016 09:00 AM EDT Reads: 506
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 31, 2016 09:00 AM EDT Reads: 1,013
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 31, 2016 08:45 AM EDT Reads: 922
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 31, 2016 08:30 AM EDT Reads: 912
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 31, 2016 07:45 AM EDT Reads: 959
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 31, 2016 07:45 AM EDT Reads: 985
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 31, 2016 04:45 AM EDT Reads: 2,312
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 31, 2016 02:45 AM EDT Reads: 1,900
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 31, 2016 02:15 AM EDT Reads: 2,295
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 31, 2016 02:00 AM EDT Reads: 2,030
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 31, 2016 01:45 AM EDT Reads: 3,114
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 31, 2016 01:00 AM EDT Reads: 1,715