Who Can I Name as a Beneficiary on My Life Insurance Policy?
Wondering who you can name as a beneficiary on your life insurance policy? A beneficiary is usually the person or people who will receive your life insurance payout after you die, but it can also be a trust, charity or your estate. Read this blog post to learn more.
First off, great job on buying life insurance! You took an important step by protecting the ones you love.
Every life insurance policy requires you to name a beneficiary. A life insurance beneficiary is typically the person or people who get the payout on your life insurance policy after you die; it may also be a trust, charity or your estate.
You can also name more than one beneficiary, as well as the percentage of the payout you want to go to each one—for instance, you could designate 50% to a spouse and 50% to an adult child.
You’ll typically be asked to pick two kinds of beneficiaries: a primary and a secondary. The secondary beneficiary (also called a “contingent beneficiary”) receives the payout if the primary beneficiary is deceased.
Providing for Kids
A big reason why people buy life insurance is to provide for children left behind. Usually this is done by making the surviving spouse or partner who cares for and is raising the kids the beneficiary. But what if you’re widowed or—God forbid—-both you and your partner pass away at the same time?
First, know that it’s not a good idea to name a minor as a beneficiary. That’s because the law forbids life insurance payouts to anyone who has not reached the age of majority, which is 18 to 21 depending on your state. If a child were to be named, then it would be turned over to probate court. The court will name a guardian who has oversight of the money/estate until the child comes of age.
Fortunately, there are two options. The first is to name an adult custodian. The custodian should be someone you can trust to use the money for things like housing, health care, and education until the child reaches the age of majority. At that point, any remaining money gets turned over the child and they can spend it any way they want.
The second option is to work with an attorney to set up a trust. In this scenario, the trust is the beneficiary and a trustee is named to manage and distribute the funds. The main advantage of a trust over naming a custodian is having more control.
A trust lets you specify how you want the money distributed—and it lets you do so even when your kids are adults. (One quick word of caution: Definitely consult with an attorney if you’re setting up a trust for a special needs child. They can help you create one that doesn’t impact your child’s eligibility for government assistance like Medicaid or Supplemental Security Income.)
Naming a Charity
Do you have a cause that’s near and dear to your heart? If so, you might consider naming a charitable organization as the beneficiary of your life insurance.
There are several ways to do this. They include naming the charity as a beneficiary on a new or existing life insurance policy, making the charity both the owner and the beneficiary of a life insurance policy, adding a charitable-giving rider to a life insurance policy, or working with a community foundation to figure out the best way to distribute a payout.
Final Tips
Think carefully about naming your estate as a beneficiary. This can trigger a long and costly legal process known as probate. A faster and more efficient solution is to name specific individuals or organizations as beneficiaries.
1. Get specific. Instead of naming “my spouse” or “my children” as beneficiaries, list their names along with their addresses and Social Security numbers. This saves a lot of time since the insurance company doesn’t have to track down information.
2. Always name a contingent beneficiary. Passing away and leaving behind life insurance without a living beneficiary could mean the payout goes to someone you never wanted your policy to benefit. It could also require a court-appointed administrator to sort things out.
3. Pick trustworthy custodians and trustees. Really consider who’d you trust your child’s financial well-being with if you weren’t in the picture. Your kids may love their uncle or aunt, but is he or she mature and responsible with money? If not, pick someone else who is.
4. Regularly review your beneficiaries. It’s a good idea to review your beneficiaries about once a year and after major life events like a marriage, divorce, the birth of a child, or a death in the family.
5. Communicate your wishes. Let your beneficiaries know your intentions and how to find the policy.
6. Be aware of special situations. There are some situations that could trigger a tax on the life insurance benefit—for instance, when the policyholder and the insured aren’t the same person. Likewise, things can get sticky if you live in a community property state and don’t name your spouse as a beneficiary. An insurance agent can give you life insurance advice on this and much more.
SOURCE: Austin, A. (29 April 2019) "Who Can I Name as a Beneficiary on My Life Insurance Policy?" (Web Blog Post). Retrieved from https://lifehappens.org/blog/who-can-i-name-as-a-beneficiary-on-my-life-insurance-policy/
Insuring the Times of Your Life
Do you have life insurance? According to the 2019 Insurance Barometer Study, by Life Happens and LIMRA, 43 percent of adult Americans do not have life insurance. Read this blog post to learn more.
Preston Newby was a youth minister. He and his wife, Tara, were driving with their son to visit family—excited to announce a new baby on the way. In the keeping with the kind of person Preston was, he stopped to help at the scene of an accident. That’s when he was struck by another car and killed. He was only 24.
Fortunately, this young couple had done their planning and had bought life insurance. So despite the emotional upheaval that Preston’s death caused, Tara, a stay-at-home mom, and her two sons were able to carry on financially as they had before. You can watch their story here.
How many other people have prepared like this for the unexpected? Unfortunately, not enough: 43% of adult Americans don’t have life insurance, according to the 2019 Insurance Barometer Study, by Life Happens and LIMRA.
Many people think, “I’m young. That won’t happen to me.” Statistically, they may be right. However, they could be up being one of the statistics. You just don’t know—and that’s the problem. The solution is life insurance.
If you have people you love and who depend on you, or you have financial obligations to meet, you need life insurance to protect against the “what ifs”—at every stage in life. Here are just a few reasons you may need life insurance, or more of it, throughout your life.
Single with no children: You may think you don’t need life insurance since you have no dependents, but if you owe money, you need it. It ensures that your debts, including student loans and funeral expenses, won’t be passed on to your family. Additionally, if you are taking care of aging parents or a special-needs sibling, or know you will in the future, life insurance is a smart way to make sure that care can continue uninterrupted.
Married or partnered: As you begin your lives together, you’ll likely incur joint financial obligations like buying a home, in addition to monthly bills. It makes sense to protect your spouse or partner with adequate life insurance. It’s also a smart move to get coverage in place now if you plan on having a family in the future.
Parents with children: If you’re in the midst of this stage, financial obligations abound. Many couples rely on two incomes to make ends meet and single parents may be their children’s one-and-only. Life insurance is critical at this point. When figuring out how much you need, remember that the economic impact you have on your family can be measured not just by how much you earn now, but by how much you’ll earn over the course of your working life. Life Happens’ Human Life Value Calculator can help you figure out what that will be.
Empty-nesters/retirees: Your kids are on their own and your mortgage is paid off, so you may think you don’t need life insurance. However, if you are still building your retirement nest egg, life insurance ensures that if something happens to you that your spouse or partner can still live comfortably in retirement, despite any shortfalls.
Keep in mind, life insurance is a simple answer to an important question: Would anyone suffer financially if I were to die. If the answer is yes, it’s time to sit down with an insurance professional.
SOURCE: Leyes, M. (13 May 2019) "Insuring the Times of Your Life" (Web Blog Post). Retrieved from https://lifehappens.org/blog/insuring-the-times-of-your-life/
Fresh Brew with Alesha Mack
Welcome to our brand new segment, Fresh Brew, where we will be exploring the delicious coffees, teas, and snacks of some of our employees! You can look forward to our Fresh Brew blog post on the first Friday of every month.
“The first piece of advice I would give is to be patient because some people are unsure of what exactly they are asking. Also, remain calm and attentive. Lastly, SMILE!”
Alesha Mack is a Client Service Manager and oversees the Client Service Team at Saxon Financial Services.
Alesha has three children who are the light of her world. In her free time, she enjoys exploring new activities with them and one day plans to travel the world together.
Caramel Macchiato from Starbucks
“I love this coffee because it is sweet but has a nice kick to it to help me get through my mornings!”
Coffee Cake from Wyoming Pastry Shop
Alesha loves snacking on a coffee cake from Wyoming Pastry Shop. View their website here.
Give It A Try & Share It!
Extended reality promises a holistic training experience, experts say
Are you utilizing augmented reality, virtual reality or extended reality in your training programs? More employers are embracing the use of virtual environments for employee training and development programs. Continue reading to learn more.
As more employers embrace virtual environments for training, tech gurus are fine-tuning the technology to be more accessible to employers. Some organizations have developed apps to take employees through soft skills training; others customized VR experiences to suit their specific training needs.
As the potential of AR and VR technology continues to unfold, and workforces reap benefits from using it, employers will need to decide how to best implement the tech in their own learning and development initiatives.
Why merge AR, VR and L&D?
When it comes to virtual training, XR (extended reality, which includes VR and AR) may the best option for employers with tricky needs, according to Toshi Anders Hoo, emerging media lab director at the Institute for the Future. "XR training is valuable in situations when the experience is too expensive, too far away, too infrequent or too dangerous," he told HR Dive. "It allows users to experience pretty close to what it's like, and that includes the physical and psychological experience."
XR isn't just for standard operating procedures, Anders Hoo added; it creates a holistic understanding, providing emotional preparedness for difficult situations. He cited Walmart's well-known VR training, which prepped employees for Black Friday shopping, but noted that the applications can be even more varied. XR can acquaint learners with the emotional experience of public speaking, uncover hiring biases or replicate the pressure of a surgical operating theater, he said.
AR and VR can also help employers better understand workers' strengths and weaknesses, Amy Vinson, associate director, safety analytics, health and safety at Tyson Foods told HR Dive in an email. It can also enforce better, safer working habits. "[Trainees] can put on goggles and virtually practice operating our plant's robotic arm to safely stack heavy boxes in high areas," she said. "It helps team leaders better understand training areas that may require extra attention."
XR can also be "an empathy engine," Anders Hoo noted, by providing anyone with a perspective on an unfamiliar challenge. "Consider a medical emergency: the learner can be the doctor, watching a patient bleed, or a loved one, helpless to assist. These scenarios have major implications for critical thinking and to help learners expand their points of view."
How does it work for learners?
The biggest challenge for classroom learning is retention, according to Shawn Gentile, training content development and delivery leader at Vitalyst, because the majority of knowledge is lost over time. Simulation-based learning, however, can be done continuously, said Gentile; "Learners can go right back into the simulation and continue to build on their competence.
And when L&D pros are examining why training is or isn't working, the tech can eliminate some of the guesswork, he said. "With simulation-based training, you can see where they're not learning and why, targeting learning points to increase retention." Accessing this data removes deviation points and allows training to focus on the organization's objectives, he added. Uniformity is another consideration: Different instructors may perform training differently, but the consistency of AR and VR training provides better knowledge, higher retention rates and a better ability track failures and update training to meet objectives, according to Gentile.
Anders Hoo said that XR, unlike video-based training, is more than the mere "illusion of learning." Videos can give learners the false perception the task they're learning will be as easy in real life as it looks, which can create performance gaps and discourage some, Anders Hoo said. However: "If you show someone a video of someone juggling," he said, "but they're holding the juggling club, they're much less likely to be discouraged when trying to learn the skill."
Forecasting the future
One concern to consider, according to Anders Hoo, is data privacy. XR captures biometric data that can identify a person by how they move their hands and head. In a one-hour VR session, he said, thousands of data points are captured that can potentially be used to later identify someone in, for example, a surveillance camera. Next-generation XR will have eye tracking capabilities and may even be able to track your heart rate and emotional state, he said. "The same systems that allow us to have more immersive experience are the same that make for very sophisticated surveillance systems," he said. As with all new HR tech, L&D pros will have to remember to ask the right questions.
For Anders Hoo, one of the most interesting things about this futuristic tech is that it's really not new at all. It was adopted in the early twentieth century for flight simulations. Almost 100 years later, it's still seen as the newest thing because developers have begun to iterate on it more. "People overestimate the impact of tech in the short term," he said, "and underestimate its impact long term."
SOURCE: O'Donnell, R. (21 May 2019) "Extended reality promises a holistic training experience, experts say" (Web Blog Post). Retrieved from https://www.hrdive.com/news/extended-reality-promises-a-holistic-training-experience-experts-say/554872/
Working from home for medical reasons poses challenges for employers
Did you know: There has been an 11 percent increase in remote work since 2014, according to SHRM. This increase in remote work is posing new challenges for HR teams when the request is due to medical reasons. Continue reading to learn more.
While working from home has become much more popular in recent years – an 11% increase just since 2014, according to SHRM – this can pose challenges for HR teams when the request is due to medical reasons.
Even if your workplace has guidelines for remote workers, requests to telecommute as an accommodation must be carefully reviewed to assure you’re in compliance with ADA regulations
The ADA prohibits discrimination in employment based on disability, and requires employers to provide reasonable accommodations to applicants and employees. A reasonable accommodation entails any changes in the work environment, or in the way things are customarily done, which enables an individual with a disability to enjoy equal employment opportunities.
In these cases, it’s important for both the HR rep and a physician to gather information about the accommodation request to gauge if telecommuting is medically necessary or simply a personal preference.
The HR rep needs to gather specific information from the employee, including the following:
- Explanation of why it’s medically necessary to work from home
- The essential job functions the employee finds challenging to perform in the office
- The duration of the request to work from home
- Whether telecommuting for a period of time enables the employee to return to work in the office and perform essential functions of the job
- Confirmation that they have a dedicated workspace with phone, Wi-Fi and other essential technology
Meanwhile, the physician should gather certain information from the HR rep, including:
- A description of the medical condition
- How working from home will help the employee better manage that medical condition and perform the essential job functions
- The restrictions (things the employee cannot do) and limitations (things the employee should not do)
- Why the employee can work from home but not in the office
- How long the employee will require the accommodation (short or long term)
- Likelihood that the employee will ever be able to perform their essential job functions from the office
With more offices adopting an agile model with open workspaces, employees now have more natural lighting, feel less cramped and have more opportunity for collaboration with their colleagues. However, these advantages to many people can be challenges for others.
Light and odor sensitivity, as well as distractions, are some of the most frequent triggers of medical conditions that drive the need for accommodations. In many cases, some simple modifications to the workplace can help solve or alleviate some of the employee’s challenges.
Light sensitivity, or photophobia, is intolerance to light, which can cause a painful reaction to strong lighting. Adjustments can be made to help alleviate this, including head lighting modifications, window shading, cubicle shields for fluorescent lights, polarized glasses and/or prescription eyewear.
Odor sensitivity is another common issue in open workspaces – especially for employees who previously were in a contained space with infrequent interaction with colleagues. Consider workplace signage prohibiting perfume or cologne in the office, enforcing a fragrance policy, air purifiers throughout or in select areas, a transition to scent-free cleaning products, or upgrading the ventilation system in the office to allow more air flow. For food smells, ask employees to eat in a designated area and not bring food to their workspace.
Distractibility is the inability to sustain attention or attentiveness to one task. With agile workspaces often involving moving around frequently or being positioned in a high-traffic area, this can be challenging to some employees. Consider providing noise-canceling headphones, white noise machines, cubicle shields, noise barriers or an adjustment to the office configuration. Consider allocating space within the open work plan that’s off-limits for meetings and away from heavy foot traffic.
While agile workspaces have many benefits, they can pose challenges to your workforce. It’s your responsibility to work with employees to accommodate medical requests which may result from light sensitivity, distractions or even odors. Following these simple tips can help assure a healthy, happy and productive workplace for your team.
SOURCE: Holliday-Schiavon, K. (23 May 2019) "Working from home for medical reasons poses challenges for employers" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/remote-work-for-medical-reasons-challenging-for-employers
3 summer workplace legal issues and how to handle them
Issues such as hiring interns, dress code compliance and handling time off requests can cause legal issues for employers during the summer months. Continue reading this blog post for how to handle these three summer workplace legal issues.
Summer is almost here and with that comes a set of seasonal employment law issues. Top of the list for many employers includes hiring interns, dress code compliance and handling time off requests.
Here’s how employers can navigate any legal issues that may arise.
Summer interns
Employers looking to hire interns to work during the summer season or beyond should know that the U.S. Department of Labor recently changed the criteria to determine if an internship must be paid. In certain circumstances, internships are considered employment subject to federal minimum wage and overtime rules.
Under the previous primary beneficiary test, employers were required to meet all of the six criteria outlined by the DOL for determining whether interns are employees. The new seven-factor test is designed to be more flexible and does not require all factors to be met. Rather, employers are asked to determine the extent to which each factor is met. For example, how clear is it that the intern and the employer understand that the internship is unpaid, and that there is no promise of a paid job at the end of the program? The non-monetary benefits of the intern-employer relationship, such as training, are also taken into consideration.
Though no single factor is deemed determinative, a review of the whole internship program is important to ensure that an intern is not considered an employee under FLSA rules and to avoid any liabilities for misclassification claims.
Companies also should be aware of state laws that may impact internship programs. For example, California, the District of Columbia, Illinois, Maryland and New York consider interns to be employees and offer some protections under various state anti-discrimination and sexual harassment statutes.
All employers should be clear about the scope of their internship opportunities, including expectations for the relationship, anticipated duties and hours, compensation, if any, and whether an intern will become entitled to a paid job at the end of the program.
Summer dress codes
Warmer temperatures mean more casual clothing. This could mean the line between professional and casual dress in the workplace is blurred. The following are some tips when crafting a new or revisiting an existing dress code policy this summer.
If the dress code is new or being revised, the policy should be clearly communicated. Sending a reminder out to employees may be helpful in some workplaces. In all cases, the policy should be unambiguous. List examples to make sure there is no confusion about what is considered appropriate and explain the reasoning behind the policy and the consequences for any violations.
To serve their business or customer needs, companies may apply dress code policies to all employees or to specific departments. They should also make sure the dress code does not have an adverse impact on any religious groups, women, people of color or people with disabilities. Company policies may not violate state or federal anti-discrimination laws. If the policy is likely to have a disparate impact on one or more of these groups, employers should be prepared to show a legitimate business reason for the policy. Also, reasonable accommodations should be provided for employees who request one based on their protected status. For example, reasonable modifications may be required for ethnic, religious or disability reasons.
Finally, failure to consistently enforce a neutral dress code policy or provide reasonable accommodations can expose a company to potential claims. As always, dress codes and any discipline for code violations should be implemented equitably to avoid claims of discrimination.
Time off requests
Summer time tends to prompt an influx of requests for time off. Now is a good time to review policies governing time off, as well as the implementation of those policies to ensure consistency. Written time off policies should explicitly inform employees of the process for handling time off requests and help employers consistently apply the rules.
An ideal policy will explain how much time off employees receive and how that time accrues. It also will include reasonable restrictions on how time off is administered such as requiring advance approval from management, and how to handle scheduling so that business needs and staffing levels are in sync.
Most importantly, time off policies and procedures must not be discriminatory. For instance, if a policy denies time off or permits discipline for an employee who needs to be out of the office on a protected medical leave, the policy could be seen as discriminating against employees with disabilities. Companies should train their managers on how to administer time off requests in a non-discriminatory manner. Employers generally have the right to manage vacation requests, however protected leave available to employees under federal, state and local laws adds another layer of complexity that employers should consider when reviewing time off requests.
To minimize employment issues this summer and all year around: plan ahead, know the relevant employment laws and train managers and supervisors to apply HR best practices consistently throughout the organization.
SOURCE: Starkman, J.; Rochester, A. (23 May 2019) "3 summer workplace legal issues and how to handle them" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/how-employers-can-handle-summer-workplace-legal-issues
Considering Retirement But Getting Cold Feet?
Are you nearing retirement age but getting cold feet about retiring? Many consider their financial state when deciding when they should retire but there are some other factors you should take into account. Read this blog post from SHRM for factors to consider when deciding the timing of retirement.
I’ve been with the same company for the last 15 years and I’m nearing early retirement age. I always assumed I would welcome this but - like a dog finally catching that car it’s been chasing for years- now that the time has come, I'm getting cold feet. I feel like I’m financially ready, but my gut is telling me “Don’t do it yet”. My employer is supportive either way, although I sense some colleagues would welcome the promotion opportunities that would open up when I leave. What factors should I consider when deciding the timing of retirement?
Many people base their decision to retire solely on the state of their finances. If this isn’t a factor in your decision, congratulations, you’re among the lucky few. So, let’s consider the other factors.
First, I would promptly set aside whether your coworkers want you to hurry-up-and-retire-already for their own career opportunities. That’s understandable but I would not let that weigh heavily –if at all- in your decision.
Second, I would concentrate on what your gut is telling you. I believe in following one’s gut, but not blindly. For me, gut feelings are flags for things that should be examined. It’s your mind and body letting you know, “hey, you should pay attention to this”, dig on this spot, explore where these feelings are coming from and where they point to.
For example, you could be over identified with your professional-self and your personal-self may feel vulnerable without having a professional role. This is especially true if you have a fancy title or you think you’re somebody. It can be unsettling to become just one more retiree ordering the early bird special.
So, what’s the antidote?
Well, you should have the first year of your retirement life planned out as carefully as you’d plan a mid-career hiatus. Consider: Where you’re going to go everyday; who you’re going to hang with; what hobbies you’re going to pick up; which boards you’ll volunteer for; what causes you’ll join; what you’re going to wear and what schedule you’re going to keep.
I think once you have a clear picture of “who” and “what” you are going to be when you retire, perhaps your gut will feel more comfortable and instead of telling you “Don’t do it yet” it may tell you “What are you waiting for?”
Originally posted on HR Box.
SOURCE: Del Rio, E. (13 May 2019) "Considering Retirement But Getting Cold Feet?" (Web Blog Post). Retrieved from https://blog.shrm.org/blog/considering-retirement-but-getting-cold-feet
Your bad work environment may be raising your healthcare costs
A growing amount of research is documenting a relationship between stressful work environments and a range of chronic conditions. Research is also finding a link between employee health and employee job performance. Continue reading to learn how your work environment could be raising your healthcare costs.
If you want to reduce the cost of healthcare for your employees — while simultaneously improving care — you may need to take a serious look at your work environment. When reviewing areas that could help reduce costs, a much overlooked aspect is a stressful work environment.
While employers have done a lot to reduce the risk of potential injuries in the workplace, they have done far less to reduce stress, which could also be harmful.
Research finds a link between employee health and job performance. There also is a growing body of research documenting the relationship between a stressful work environment and a range of chronic conditions — including depression, hypertension and sleeping problems. But employers often struggle to connect the dots between these health concerns and supporting a healthy environment for employees.
It’s difficult, if not impossible, to manage something that remains unmeasured. That’s why measuring outcomes beyond healthcare cost fluctuations, such as absence, periods of work disability and job performance, can help employers understand a broader range of outcomes important to the successful operation of their business.
When employers ask how they can affect the health of their employees, I ask what they know about the working conditions in their organization. Is there management trouble, high turnover, high illness-related absence or low job satisfaction? Some of this can be determined from employee satisfaction surveys, or analyses of sick leave data and work disability claims. Often, even more can be discovered by gathering employee feedback.
For example, listening to employees, equipping them with the knowledge to recognize safety issues and providing the tools or procedures to correct these issues, were key to improving workplace safety. A successful safety review can result in real change. Employees observe this change and a cycle is created where prevention becomes the focus because all are accountable and all have trust based on experience that their identification of potential or real safety issues will be dealt with effectively.
If employers are unaware of the factors in their own work environment that could be modified to lessen psychosocial stressors, a good place to start is by listening to employees. Many employers already conduct job satisfaction surveys or health risk appraisals that provide some information around work and health issues. These same tools could be used to identify and address psychosocial issues in the workplace.
Whatever the channel — a suggestion box, a designated HR representative, a focus group, a survey — it must provide employees with the opportunity to authentically and safely share their perspectives. And, finally, it must be demonstrably legitimate, resulting in employer actions that are clear and meaningful to all.
Typically employers use health and wellness programs in an attempt to remediate rather than prevent illness. Our interviews with medical directors of some of the leading U.S. corporations revealed a similar finding. Often, the medical director or chief health officer is charged with improving employee health, while the HR benefits manager is charged with reducing healthcare costs. Not surprisingly, these two goals can be at odds with each other. Imagine the company with a large percent of untreated depression.
So how can employers know what works or even what to try?
Evaluators often start their work by asking why particular activities, services or coverage types were chosen or implemented. This helps identify those areas more proximal to the employment setting (something about the job or in the work environment, for instance) and those areas more distal to the employment setting (such as medication formulary). To put a fine point on the problem, Pfeffer notes that “putting a nap pod into a workplace is not going to substitute for the fact that people aren’t getting enough sleep because they are working 24/7.”
Those looking to get started might begin by watching Working on Empty, an 11-minute documentary, which can provide solid direction for the type of information you’re seeking from your employees. Honor their voice and insight, and use it to implement real change. In doing so, you will build trust and a channel for contribution that improves outcomes for employees and employers.
SOURCE: Jinnett, K. (20 May 2019) "Your bad work environment may be raising your healthcare costs" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/workplace-stress-increasing-healthcare-costs
Bad Relationship with Your Boss? How to Fix it
Do you have a poor relationship with your manager? Often, poor relationships with managers can be detrimental to both the work employees' produce and their quality of life. Read this blog post from SHRM for tips on how to repair your relationship with your boss.
A poor relationship with your manager can be detrimental: both in the work you produce and your quality of life. LaSalle Network COO, Maureen Hoersten, uncovers ways to get to the root of bad relationships at work, and tangible tips to repair them, including:
Signs you have a bad relationship with your manager:
There are common signs your relationship may be less than healthy like disengagement and short communication. Ask yourself: has something changed? Are you getting less feedback or training as you did before, or is the opposite true and you’re suddenly being micromanaged? Evaluate how the relationship is evolving to determine if it’s going down the right path.
Determining the source of the problem:
The key to getting to the root of the relationship issue is to communicate. For instance, you may think something’s going on at work, but it the issue could really lie in your personal life. Whether it’s health related or a family issue, you may be bringing it into work with you, causing you to overanalyze the relationship with your boss. On the flip side, personal factors could be affecting your boss! The less time and attention they’re providing may have more to do with their personal stressors than your work. But you won’t know until you communicate.
Have a one on one and ask if you’re not hitting expectations. Try to open up and be vulnerable to pinpoint where the problem is. It may have nothing to do with you and your work, but you must overcommunicate to get to the root of the problem.
How to fix the relationship:
Not only can the problem be determined by communication, it can be solved. They key is not just to communicate, but overcommunicate. For instance, if you’re working on a project with deadlines, consider (over) communicating the process as you go. Instead of waiting till it’s complete, give an email update or leave a voicemail with your progress. In other words- go above and beyond, exceeding expectations for communication. When your boss is running multiple groups or has a lot going on, little updates go a long way. No one wants to be left in the dark, and overcommunication can help your manager keep you on track as you go.
To mend a poor relationship with your boss, ask what you can do to get better. If it’s due to the quality of your work, what courses can you take, or books can you read to improve? Ask yourself: are you approachable, do you overcommunicate, do you come to the office a bit earlier or stay later to show that you care? If your boss doesn’t think you’re committed, show them that you can go above and beyond.
If you feel you’re being micromanaged, you may need to dig deep and think about why your boss is micromanaging you. Is there an issue with the quality of your work or hitting deadlines? Are you meeting and exceeding expectations? You need to know how you are performing before you can move on.
When to look elsewhere:
If you’ve done everything you can to repair the relationship, given it time and nothing’s changed. Evaluate whether it’s time to move on. When it’s starting to affect your personal life, you keep asking the same questions with no acknowledgment or results, you may not be in the right position. Even if you feel it may not be the right place for you, try to give it time. Mending relationships with a manager may not be an overnight fix. People can turn relationships around; you just have to make sure you’re in alignment with your boss and their expectations through effective communication.
Originally posted on LaSalle Network blog.
SOURCE: Hoersten, M. (19 May 2019) "Bad Relationship with Your Boss? How to Fix it" (Web Blog Post). Retrieved from https://blog.shrm.org/blog/bad-relationship-with-your-boss-how-to-fix-it
Netflix exec: To boost diversity, employers must improve benefits
Are you implementing specific employee benefits in an effort to boost diversity and inclusion at work? According to Vice President of Inclusion Strategy at Netflix, Verna Myers, Implementing the right employee benefits could help employers boost workplace diversity and inclusion.
NEW YORK — Employers still have a long way to go when it comes to fostering diversity and inclusion at work — but implementing the right benefits could be a step in a positive direction.
That’s according to Vernā Myers, vice president of inclusion strategy at Netflix, who said companies should focus on rolling out new benefits that help employees at different life stages. While perks like free lunch are nice, they aren’t going to keep workers around long term, she said at a meeting with reporters Wednesday.
“It’s more about [having] a kind of system that acknowledges real life and what people’s needs are,” she said. “That builds a certain kind of loyalty and trust.”
So what should employers focus on? Myers said employees want holistic benefits that address life changes, including starting out careers and parenthood. Mental health and financial benefits also should be a priority.
So far, tech companies, startups and other progressive employers are doing this well. “Companies have realized they’re part of a life ecosystem, and that makes a big difference,” she added.
But employers may still have a long way to go. Myers, who is a Harvard trained lawyer, said she has heard of instances where male employees faced discrimination for taking advantage of benefits like paternity leave. Meanwhile, offerings like maternity leave have not always been industry standard, she said.
“People still don’t remember that we did not have maternity leave,” Myers said, recalling a conversation with a partner at a law firm who used three weeks of vacation time when she had her baby.
Myers said she has overwhelmingly found that while organizations are interested in bringing in more diverse workers, they often won’t make adjustments to benefits and culture in order to better accommodate these employees. Employers “were unwilling to do much of anything to adjust to the fact that they were inviting difference,” she said.
Survey data from PwC suggests that diversity and inclusion is a high priority for employers, but many can still do more to improve their programs. A full 74% of employers said diversity and inclusion is a priority at their company. But the consulting firm found that only 5% of the programs were reaching their full maturity when assessed against PwC’s model, which reviews factors including strategy and engagement.
But employers have shown interest in adding more inclusive benefits. Some — like Hewlett Packard Enterprise and Hilton — have invested in family-friendly offerings like expanded paid parental leave and breast milk shipping. Others are adding student loan repayment programs and coaching benefits.
Susan Eandi, the head of Baker McKenzie’s global employment and labor law practice in North America, said employers need to focus on employee engagement in benefits if they want to improve diversity and inclusion. As Generation Z enters the workforce, companies may see a shift toward stability. Unlike their millennial counterparts, who spearheaded flexible schedules and gig work, Gen Z workers are more cautious and want security in their jobs and benefits.
“They’re very cautious, concerned individuals who want financial security,” she said. “It will be a big shift for employers.”
Regardless, Myers said companies should continue to create safe spaces for all perspectives and backgrounds to influence decision making. “If employers allow for more opportunity and for people be treated more fairly, then everyone is going to benefit,” she said.
SOURCE: Hroncich, C. (15 May 2019) "Netflix exec: To boost diversity, employers must improve benefits" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/netflix-to-boost-diversity-employers-must-improve-benefits