Technology: Talking to a Financial Coach Reboots Financial Wellness and Narrows Gender Gap
Original post businesswire.com
In a year marked by increased market volatility and slow economic growth, it’s not a surprise that overall financial wellness levels remained virtually unchanged. Employees appear stuck, hitting a brick wall with debt, lack of emergency funds and inadequate retirement savings. However, the latest study from Financial Finesse shows that the way forward to improved employee financial wellness – and to narrow the financial Gender Gap – could be human-to-human coaching, with technology playing a supporting role.
The Year in Review: 2015, an analysis of employee financial trends based on anonymous data collected by workplace financial wellness firm Financial Finesse, describes a year where most employees have been treading water in terms of their financial wellness. Overall financial wellness levels were unchanged at 4.8 out of 10 vs. 4.7 in 2014.
The study shows that while technology was helpful in increasing employee awareness of their financial vulnerabilities, online interactions alone did not improve employee financial wellness. By contrast, employees who had five interactions including conversations on the phone or in person with a financial planner professional showed substantial progress. Those repeat interactions with a financial coach appear to help an employee get “unstuck,” and advance in key areas. For these regular participants:
- 80% have a handle on cash flow, compared to 66% of online-only users
- 72% have an emergency fund, compared to 50% of online-only users
- 98% contribute to their retirement plan, compared to 89% of online-only users
- 48% are on track for retirement, compared to 21% of online-only users
- 64% are confident in their investment strategy, compared to 42% of online-only users
Employers who offer financial wellness programs consider tailoring communications to address these vulnerabilities in particular:
- 58% may not be saving enough for retirement, with only 16% of Millennials on track to achieve their retirement goals.
- 51% don’t have an emergency fund. While this declines with age, a worrisome 25% of employees 65 and older still don’t have an emergency fund.
- 34% may be living beyond their means. For employees with family incomes of $100,000 or lower, less than half pay off their credit cards every month.
- 33% may have serious debt problems. Debt may be hurting African American and Latino employees the most, with 75% of African American and 66% of Latino employees saying getting out of debt is a top concern.
- Concern over market volatility is high. Many employees grew nervous about their retirement plan savings and turned to their financial wellness program for guidance on how to handle these market fluctuations.
Employee Relations: Electing to Talk Politics at Work has Serious Implications
Original post workforce.com
As the political races unfold in 2016, just about everyone seems willing to share their opinions on candidates, parties and issues — whether they’re asked to or not.
For many of the nation’s workers, this can lead to uncomfortable situations or outright arguments while on the job. Responding with a personal opinion might seem like second nature, but it might also be a risky move careerwise.
Employers generally have the right to limit employees’ political commentary during work time, and many of them choose to do so given the often-heated nature of the subject. Workers should always use common sense when deciding whether to discuss political issues at work, but there are some situations in which employees should definitely steer clear of such talk, such as:
When the business owner or boss is vocal about their own beliefs. It’s a concept that might be shocking to many Americans, but, in many states, private employers may fire workers for their political beliefs.
Under the at-will employment doctrine, in the absence of a contract, employers can terminate employment at any time and for any reason not prohibited by law.
Every state except Montana subscribes to the at-will doctrine.
Under this principle, organizations don’t need “just cause” to fire someone. If local or state law doesn’t prohibit it, private employers generally may terminate an individual because of his or her political beliefs.
Many misinterpret the First Amendment and believe that it applies in all cases related to freedom of speech. The First Amendment only applies to government censorship of speech. As such, it restricts public employers from engaging in this practice.
Most private employers won’t typically terminate employees for their political beliefs. The bad publicity from such actions will typically outweigh any perceived benefits.
Even in states and locations without laws protecting employees’ political beliefs, employers will have to tread a fine line. Some states, like Wisconsin, prohibit employers from taking action on employees’ legal activities, such as running for office or voting. If the discussions are union-related, they might also be protected.
Yet, employees should still be cautious. A business owner or manager who is strongly invested in their political beliefs could discipline or terminate others with opposing viewpoints.
When it wastes time. Many employers recognize that restricting all nonwork-related conversations can have a detrimental effect on morale. But if employees are spending large amounts of time debating the pros and cons of a particular political candidate or issue when they should be working, an employer is going to take notice and possibly take action. Employers generally have control over what employees may and may not do on company property and on work time.
When discriminatory language is involved. Employers have a duty to prevent and address discrimination in the workplace.
If employees are holding inappropriate discussions about a candidate’s sex, age, race, religion, ethnicity or other protected traits, the employer will likely want to take action. A business may be held liable for fostering a hostile work environment if it does not halt such conduct.
Because of the legal ramifications, most employers take discrimination in the workplace very seriously and will respond accordingly. This could include discipline and even termination.
When representing the company. If an employee is passing themself off as a company representative, or even sporting company logos (on a shirt, hat, etc.) while giving a personal interview on the subject of politics, an employer likely has the right to act. Such actions could give customers and others the impression that the employee’s beliefs are those of the company.
Think before speaking. When faced with a workplace situation involving heavy political posturing, it can be hard to consider the effects of statements prior to making them in front of co-workers.
But taking a moment to think about the consequences of certain political discussions before engaging in them might be the best way for employees to safeguard their job.
Employees should consider the career risks of bringing politics to work. The best course of action might be to leave political discussion at the door.
Trending: Virtual Healthcare Gains Broader Acceptance
Original post benefitsnews.com
The Cadillac tax may have been postponed until 2020 but that doesn’t mean employers have put healthcare cost containment measures on the backburner. In fact, new research shows 90% of employers are planning myriad measures to control rising healthcare costs.
The 2016 Medical Plan Trends and Observations Report, released today by DirectPath and CEB, highlights top trends in employers’ 2016 healthcare strategies. Overwhelmingly, employers are continuing to shift a larger share of healthcare costs to employees, often through high-deductible health plans, according to the report.
The use of telemedicine, meanwhile, continues to grow, with almost two-thirds of organizations offering or planning to offer such a service by 2018 – a 50% increase from the previous year.
“Employees often say that they go to the emergency room because it's hard to get a doctor's appointment. With telemedicine, you've got 24/7 access and you don't necessarily need an appointment,” notes Kim Buckey, vice president of compliance communications at DirectPath. “That's certainly a huge driver of avoiding those visits to the emergency room or even the urgent care clinic because telemedicine is typically less expensive than an urgent care visit, as well.”
Buckey says it “makes sense” for employers to investigate telemedicine – the remote diagnosis and treatment of patients via phone calls, email and/or video chat – because employees are increasingly accepting of virtual access to just about everything.
“How many employees now are just grabbing their phones, iPads, or computers when they need information? That's something that people are comfortable with using and they don't have to leave their house to get quality care,” she says.
Spousal and tobacco surcharges are also expected to grow, according to the CEB data. Twelve percent of employers surveyed already have spousal surcharges in place, while 29% expect to introduce them in the next three years. Twenty-one percent of employers already have tobacco surcharges in place, while 26% expect to implement them in the next three years.
“I think we're going to see more and more of those, particularly as employers focus more on wellness initiatives,” says Buckey, adding that a robust communications plan is needed before implementing tobacco or spousal surcharges.
“People don't understand basic concepts like deductibles, co-pays, co-insurance, let alone how to make a decision about what plan to choose, or frankly, what's the best way of receiving care,” she says. “As more and more of these provisions are added to plans, they have the potential of being even more confusing and off-putting to employees, so having a robust communications plan in place that addresses all of these issues [is important]. ... There certainly will be cases where these surcharges aren't going to apply to a large percentage of the population. You just want to make sure that the folks who are affected, understand how they're affected and why.”
7 Tips to Get Your Team to Actually Listen to You
Original post entrepreneur.com
Right from the outset, entrepreneurs must pay attention to every communication and opportunity for sharing their passion and vision. They must communicate effectively, so they can inspire others to come aboard. They must speak honestly and in ways that reveal their personal character and genuine connection. Yet, this sort of communication style can be difficult and time consuming – especially when demands are huge and time is scarce.
There is far more to being an effective and authentic communicator than most entrepreneurs believe -- at least when they are starting out. Even if you think you’re good at speaking to your team and motivating them, there’s always more to learn.
Leadership communication is a discipline and a practice: The more time, effort and heart you put in, the more effective you become. There really are no shortcuts.
That said, here are seven ideas that can help you focus your attention and improve your leadership communication.
1. Be authentic.
When you speak with your employees you must come across to them as real. This means sharing your beliefs and your struggles. Talking about moments of doubt but also explaining how you overcame them with more conviction and confidence than ever. Or perhaps share a story or two about a failure and disappointment in life.
The most convincing talks are when stories are shared about personal weaknesses and what one was doing to overcome them or disappointments and failures and how they were turned around.
2. Know yourself.
Dig deep. Know your values and what motivates you. If you don’t know yourself you cannot share or connect with others. People want to know what makes you tick as a human being not just as a leader. Share this and make yourself real.
3. Rely on a good coach or a trusted advisor.
Developing good communication skills takes time -- and in the rush of business, that’s scarce. Having someone who can push you to examine and reveal your interests and passions is enormously helpful and the value is immeasurable.
4. Read up on leadership communication.
If you can’t hire a coach, read all that you can. This is an inexhaustible resource, and you should never quit learning anyway. Books, articles, the internet; the possibilities are endless.
5. Make values visible.
Effective, empathetic communication and a commitment to culture can provide a solid foundation for your ideas and contribute to making it a reality. Many of today’s most successful companies have gone through dramatic crises. Their improvements often hinged upon genuine communication from the leaders.
For instance, think of Starbucks and Howard Schultz’s clear and genuine communications about the importance of managers and baristas being personally accountable for future success. Your employees want to know what you and the company stands for. What is the litmus test for everything you do? These are your values. Talk about them but you must always be sure to “walk the talk” and live by them.
6. Engage with stories.
You can't rely on facts and figures alone. It’s stories that people remember. The personal experiences and stories you share with others create emotional engagement, decrease resistance and give meaning. It is meaning that gets employees' hearts and fuels discretionary effort, thinking and desire to actively support the business.
Once someone was implementing a massive pricing cut. He could have presented reams of data about this change and why it needed to be made. Instead he invited in four clients of the firm who had written letters about why after more than 10 years they had decided to leave due to our pricing being noncompetitive. Everyone was engaged and quite horrified to hear this feedback. Getting the team’s support for the change was much easier after that.
7. Be fully present.
There is no autopilot for leadership communication. You must be fully present to move people to listen and pay attention, rather than simply be in attendance. Any time you are communicating, you need to be prepared -- and to speak from your heart. Leadership communication is, after all, about how you make others feel. What do you want people to feel, believe and do as a result of your communication? This absolutely can't happen if you read a speech. No matter how beautifully it is written, it doesn’t come across as authentic or from your heart if you are reading it. Embrace what you want to say and use notes if you must, but never read a speech if you want to be believable and move people to action. (And yes this requires a ton of preparation).
Your speeches are visible and important components of your role as a leader. Successful entrepreneurs are conscious of that role in every communication, interaction and venue within the organization and beyond. They also know that while today’s world provides a wide range of ways to communicate to your organization -- mass email, text, Twitter, instant message and more --connecting is not that simple. Electronic communication is a tool for communicating information -- not for inspiring passion.
Here are the top 10 most costly U.S. workplace injuries
Original post lifehealthpro.com
Workplace injuries and accidents are the near the top of every employer’s list of concerns.Here is the countdown of the top 10 causes and direct costs of the most disabling U.S. workplace injuries. The definitions and examples can be found at the BLS website.
- Repetitive motions involving micro-tasks
Some of these tasks may include a word processor who looks from the computer monitor to a document and back several times a day or the cashier at the local grocery store who is scanning and bagging groceries for several hours at a time.
- Struck against object or equipment
This category of workplace injury applies to workers who are hurt by forcible contact or impact, for example, an office worker who bumps into a filing cabinet or an assembly line worker who stubs a toe on stacked parts.
- Caught in or compressed by equipment or objects
These workplace injuries result from workers being caught in equipment or machinery that’s still running as well as in rolling, shifting or sliding objects.
Picture the scene in a movie in which wine barrels topple over, catching the bad guy beneath them, only in this case, it’s the employee whose job it may be to stack the barrels. Perhaps it’s the experienced worker who removes a machine guard to dislodge material that’s stuck and gets a finger caught when the machine starts moving again.
- Slip or trip without fall
Occasionally, workers do slip or trip without hitting the ground. Think of the employee entering the workplace who slips on icy stairs but is able to grab the handrail to prevent hitting the ground. But the action of grabbing the handrail may cause the employee to injure his shoulder or wrench her knee.
- Roadway incidents involving motorized land vehicle
The worker may be the driver, a passenger or a pedestrian, but the cause of the injury is an automobile, truck or motorcycle.
- Other exertions or bodily reactions
These motions include bending, crawling, reaching, twisting, climbing or stepping, according to the BLS. Consider, for example, a roofing contractor’s employees who are continually climbing up and down ladders.
- Struck by object or equipment
This category covers a range of possible injuries, from being struck by an object dropped by a fellow worker to being caught in a swinging door or gate. Picture the construction worker on a scaffold dropping a hammer on the worker below.
- Falls to lower level
The roofer could fall to the ground from the roof or ladder, or an office worker standing on a stepstool, reaching for a heavy file box, could fall to the floor.
- Falls on same level
The second most costly workplace injury, surprisingly, is a fall on the same level. Picture the employee who is walking through the office and falls over an uneven floor surface or someone leaning too far back in an office chair and toppling over.
- Overexertion involving an outside source
The BLS explains that overexertion occurs when the physical effort of a worker who lifts, pulls, pushes, holds, carries, wields or throws an object results in an injury.
The object being handled is often heavier than the weight that a worker should be handling or the object is handled improperly. For example, lifting from a shelf that’s too high, or in a space that’s cramped. Within the broad category of sprains, strains, and tears caused by overexertion, most incidents resulted specifically from overexertion in lifting.
Risk managers should work with their carriers and workplace safety specialists to minimize injuries, lost work days and workers’ compensation costs.With a little effort, employers can understand more about the causes of accidents and injuries in their organizations, identify the appropriate actions to reduce the number of injuries and minimize employee disabilities from workplace accidents.
Communicating With Your Doctor On Facebook May Be The Future Of Healthcare
Originally posted by Carolyn Gregoire on June 20, 2015 on huffingtonpost.com.
We communicate with our friends, our families and our coworkers via email and Facebook, and apparently, most Americans also wish that they could keep in touch with their health care providers this way.
A national survey of 2,252 pharmacy customers conducted by Johns Hopkins University's Bloomberg School of Public Health highlights the gap between what patients want from their health care providers in terms of communication and engagement, and what they're actually getting.
"This study tells us that for most patients, healthcare isn’t quite ready for the future," Joy Lee, a post-doctoral fellow at the university, told The Huffington Post.
In fact, there's something of a patient engagement paradox in healthcare, Lee said.
"On the one hand, doctors, policymakers, and researchers often talk about the need to engage patients," she explained. On the other hand, many patients are already engaged -- in Facebook and other online communities. Yet instead of embracing this connection, medicine is preoccupied with confidentiality and drawing professional boundaries.
Fifty-seven percent of respondents -- who were generally educated, healthy and regular users of Facebook -- said that they were very interested in using Facebook and email to communicate with their physicians and to manage their health. More than half of respondents also said that they wanted to use their physicians' websites to access health information.
More than a third said that they already communicated with their doctors via email, and 18 percent said they connected with their doctors on Facebook, a surprising finding considering that many health care providers have rules barring this mode of interaction with patients due to privacy concerns and ethical guidelines for physicians.
Young adults -- as well as caregivers, patients with chronic conditions, and regular Facebook users -- were more likely to communicate with their doctors via email and Facebook.
Lee emphasized that of course, it's critical to safeguard patient information. But "Health care organizations need to figure out how to take advantage of resources like Facebook," she added.
They're already on the way. As part of the growing telehealth movement, many doctors and health care organizations have electronic systems that patients can use for things like messaging, accessing test results and personal information, and health tracking.
"Many patients are interested in [these services] but few are actually using them -- possibly because patients don’t know they’re available," Lee said. "Doctors and health care organizations should take steps to publicize and educate patients of these opportunities. Either way, it starts with a conversation between patients and doctors on how they prefer to communicate online."
The study was published this month in the Journal of General Internal Medicine.
Personalized Employee Training Plans: Have You Joined This Trend?
Originally posted January 8, 2015 by Bridget Miller on HR Daily Advisor.
Did you know that many organizations are opting to create training programs for employees that are more personalized rather than generic or role-based? These training plans take into account not only the role the individual is training for but also the individual’s future goals and any gaps in that person’s skill set.
Assessing individual skill levels through testing;This trend is made possible because of technology. Today, there are dozens of online platforms that can handle every aspect of training, including:
- Outlining what training courses are needed for each role (and each individual) throughout the organization;
- Tracking which courses have been completed by each individual employee;
- Monitoring compliance for any training session that is legally mandated;
- Showing employees what training sessions are available within the organization;
- Storing actual training documents, such as presentations, handouts, and more;
- Testing learner knowledge after a training session through post-tests to ensure the session was effective;
- Allowing individuals to search for specific types of training and other resources;
- Allowing individuals to take training courses in the format they prefer (in some instances), whether that be in-person, online, or even on a mobile device;
- Providing immediate access to online training and informal resources;
- Allowing employees to comment on content and interact with one another and with trainers;
- Providing training certificates for course completions; and
- Providing reports with any of the above information, plus much more.
Technology enables all of these actions; it is up to the organization to decide which aspects to focus on and utilize as they set up their system.
Why Create Personalized Training Plans?
You may be thinking that this sounds like a lot of effort and expense—and if it’s done haphazardly, it could be. But if personalized training plans are implemented as part of a larger focus on training and productivity improvements, there’s no reason they cannot be a win-win for both employers and employees.
Here are a few of the benefits for employers:
- Fewer skills shortages, because employees get trained in what they need;
- More satisfied employees who feel that their employer is investing in their development, which leads to increased morale and retention;
- Increased productivity from employees who are properly trained for their roles and who are brought up to speed more quickly;
- Less wasted time for unnecessary training (i.e., when employees are put through training simply because it’s required, not because they need it);
- The organization can be more competitive with employees who have skill sets closely aligned with their roles;
- The organization can gain a reputation as an employer that cares about employee development, which can lead to better-qualified applicants;
- Higher customer satisfaction, because employees are well-trained in how to serve the customer best;
- Better employee retention of training materials, because employees can take training in smaller chunks at their own discretion—the learning is reinforced more frequently over time; and
- More employees will benefit from training if they have the option to take it in a format that is best suited to their learning style. The training has the potential to be more effective when personalized, even if the same content is covered across all employees.
How Can Personalized Employee Training Plans Be Implemented?
Even if you’re already on board with the idea of implementing personalized training plans for employees, it can be daunting to think about how to implement it in practice. There are quite a few ways to do it, so each employer can opt to customize their implementation in a way that works best for them. Here are just a few examples:
- Incorporate training and employee development into the performance management system so that it can be paired with employee goals.
- Convert some training to online versions to allow employees to take additional training sessions as their time allows. Obviously, this is not possible for every type of training, but it can be useful in many cases and can often be used for portions of courses even when it cannot be used for the full course. For example, if an employee needs to attend a live training session on a particular topic, online options could still be used to provide pre-reading, handouts, and pre-tests to assess skill levels in advance of the session.
- Implement a learning management system (LMS) that will assist in tracking training needs. This could also allow employees to pick and choose optional training sessions to attend, especially if some of those options are available online rather than only through live courses.
Has your organization begun to implement more personalized training options? What methods did you use? What are your next steps?
How NOT To Motivate And Reward Employees
Originally posted January 21, 2015 by Bernard Marr on LinkedIn Pulse.
When a newspaper company had to cut costs it made their entertainment writers redundant. To fill the entertainment review columns it came up with what it thought to be a novel way to both deliver reviews and motivate the remaining employees. The newspaper offered free tickets to staff for theatre, music and cultural events, but with the condition that they write reviews. The writer of the best review each month would be rewarded with a bonus of $100.
Not only did the staff immediately see that this was a way for the company to cheaply replace what it had chosen to forgo, through redundancy, by asking the remaining staff to carry out extra work essentially for free. The artists and organizers connected of the events also soon realised they were being short-changed. As the tickets are generally offered free to media outlets, on the understanding their artistic endeavors will receive professional coverage in return, they were often a little surprised to see the newspaper’s advertising sales rep, or office manager, turning up to “review” their play, concert or exhibition.
Needless to say, this “motivational measure” was widely ignored by the paper’s staff, adding to the growing sense of disconnect between staff and management during already turbulent times.
If you are thinking about how to best motivate your employees, to ensure they know their efforts are appreciated, here are a few mistakes to avoid, if you don’t want it to backfire.
Don’t just reward results
Effort is often just as important – while a select few may be responsible for a winning “result” (a big sale, or a major project for a client completed on time), don’t let those working behind the scenes feel underappreciated. Big projects may take a long time to come to fruition and it is important that you keep employees engaged and feeling appreciated for the duration.
Do not promote a “superstar” culture
Motivating and incentivizing should be carefully balanced so individual success does not appear more beneficial to the business than the work of the team as a whole. If staff feels that one “superstar” employee is constantly rewarded for the performance of the group, then motivation will suffer. Success can be recognized at individual, departmental and company-wide level – and it should always be recognized at all three.
Don’t directly and permanently link KPIs to reward
While this may be a great tactic for a one-off or short-term campaign, for example to increase sales in a certain sector which is flagging, it can lead to box-ticking behavior if implemented in a heavy-handed way, and even encourage attempts to “game the system”. KPIs should be there to check that the company is moving in the right direction, not to incentivize (or de-incentivize) staff.
Don’t delay rewards or praise
Studies show there is a direct relationship between how quickly someone is praised or rewarded for their efforts, and how appreciated they feel. It’s easy to think that you will get round to sending out congratulatory emails (or gifts) at some point in the near future, but every second you delay is another second that someone (or your whole team) may be feeling unappreciated.
Don’t become predictable
Vary the rewards and incentives you offer your staff from time to time. Familiarity breeds contempt, and once something becomes routine, it is an expectation and no longer a great pleasure. Put some time and imagination into coming up with ways to make your team feel valued.
Bullies taking a toll on their workplace targets
Less than 10 percent of workers experience bullying on the job. But for those who do, the consequences can be severe.
Ball State University researchers reviewed 2010 data from more than 17,000 workers who were asked, among other things about bullying on the job.
The study found that 8 percent overall reported they had experienced bullying, with women being far more likely to be the targets of bullying than men.
Of those who were bullied, researchers reported, they were far more likely to report physical and psychological responses to the bullying, including stress, loss of sleep, depression and anxiety.
The report, “Workplace Harassment and Morbidity Among U.S. Adults,” says these targets tend to report higher levels of low self-esteem, concentration difficulties, anger, lower life satisfaction, reduced productivity and increased absenteeism than those who said they were not bullied.
“Harassment or bullying suffered by American employees is severe and extremely costly for employers across the country,” Jagdish Khubchandani, a community health education professor at Ball State and the study’s lead author, told Bloomberg BNA Dec. 18. “The first thing that we have to do, and employers have to do, is admit that there is a problem,” he said.
Among other findings:
- Females were 47 percent more likely to be bullied or harassed than males;
- Victims of harassment were more likely to be obese and smoke;
- Female victims reported higher rates of distress,smoking, and pain disorders like migraines and neck pain; and
- Male victims were more likely to miss more than two weeks of work and suffer from asthma, ulcers, hypertension and worsening of general health.
- Bullying was more prevalent among hourly workers, state and local government employees, multiple jobholders, night shift employees and those working irregular schedules.
Khubchandani said that employees are generally reluctant to report harassment because the result is often “just handle it.” Companies need to have anti-bullying policies with teeth in them, and they can also conduct an annual survey of employees that includes gathering information about bullying.
An awareness campaign that educates managers on the signs of bullying such as employees chronically using personal or sick leave — will help to identify those who possibly are being targeted, he said.
Know the Minimum Wage in Your State? You Might Want to Check Again
Source: ThinkHR.com
2014 was an odd year in regards to minimum wage. Although Congress failed to pass any legislation regarding the federal minimum wage, nearly half the states had minimum wage increases that went into effect on January 1, 2015. In addition, at least 20 states will have minimum wage increases in 2016 (due to scheduled minimum increases or annual minimum wage calculations). Employers, especially those with multi-state operations, should review the minimum wage of the state(s) in which they operate and make preparations for the changes.
Breakdown of Minimum Wage Increases
There are currently 10 states that adjust their minimum wage annually: Arizona, Colorado, Florida, Missouri, Montana, Nevada, New Jersey, Ohio, Oregon, and Washington. Of all of these states, with the exception of Nevada, the new minimum wage rate goes into effect on January 1st of each year. In Nevada, the new minimum wage rate goes into effect on July 1st of each year.
In November 2014, there were four states that passed ballot initiatives increasing the state minimum wage: Alaska, Arkansas, Nebraska, andSouth Dakota. With the exception of Alaska, the new minimum wage rates in these states went into effect on January 1, 2015. While South Dakota limits their minimum wage increase to 2015, Alaska, Arkansas, and Nebraska have increases in subsequent years.
The minimum wage increases in the remaining jurisdictions were the result of legislation passed in either 2014 or previous legislative sessions. These jurisdictions include: Connecticut, Delaware, the District of Columbia, Hawaii, Maryland, Massachusetts, Michigan, Minnesota, New York, Rhode Island, Vermont, and West Virginia. Many of these states also have scheduled minimum wage increases in years following 2015.
The New Rates
The following is a summary of the minimum wage increases.
Alaska. Alaska’s minimum wage is scheduled to increase as follows:
- On February 24, 2015, the minimum wage will increase to $8.75 per hour.
- On January 1, 2016, the minimum wage will increase to $9.75 per hour.
Arizona. Effective January 1, 2015, Arizona’s minimum wage is $8.05 per hour.
Arkansas. Effective January 1, 2015, Arkansas’s minimum wage is $7.50 per hour. Arkansas’s minimum wage is scheduled to increase as follows:
- On January 1, 2016, the minimum wage will increase to $8 per hour.
- On January 1, 2017, the minimum wage will increase to $8.50 per hour.
California. Effective January 1, 2016, California’s minimum wage will increase to $10 per hour.
Colorado. Effective January 1, 2015, Colorado’s minimum wage is $8.23 per hour.
Connecticut. Effective January 1, 2015, Connecticut’s minimum wage is $9.15 per hour. Connecticut’s minimum wage is scheduled to increase as follows:
- On January 1, 2016, the state minimum rate will increase to $9.60 per hour.
- On January 1, 2017, the state minimum rate will increase to $10.10 per hour.
Delaware. Effective June 1, 2015, Delaware’s minimum wage will increase from $7.75 to $8.25 per hour.
District of Columbia. The District of Columbia’s minimum wage is scheduled to increase as follows:
- On July 1, 2015, the minimum wage will increase to $10.50 per hour.
- On July 1, 2016, the minimum wage will increase to $11.50 per hour.
Florida. Effective January 1, 2015, Florida’s minimum wage is $8.05 per hour.
Hawaii. Effective January 1, 2015, Hawaii’s minimum wage is $7.75 per hour. Hawaii’s minimum wage is scheduled to increase as follows:
- On January 1, 2016, the minimum wage will increase to $8.50 per hour.
- On January 1, 2017, the minimum wage will increase to $9.25 per hour.
- On January 1, 2018, the minimum wage will increase to $10.10 per hour.
Maryland. Effective January 1, 2015, Maryland’s minimum wage is $8 per hour. Maryland’s minimum wage is scheduled to increase as follows:
- On July 1, 2015, the minimum wage will increase to $8.25 per hour.
- On July 1, 2016, the minimum wage will increase to $8.75 per hour.
- On July 1, 2017, the minimum wage will increase to $9.25 per hour.
- On July 1, 2018, the minimum wage will increase to $10.10 per hour.
Massachusetts. Effective January 1, 2015, Massachusetts’ minimum wage is $9 per hour. Massachusetts’ minimum wage is scheduled to increase as follows:
- On January 1, 2016, the minimum wage will increase to $10 per hour.
- On January 1, 2017, the minimum wage will increase to $11 per hour.
Michigan. Michigan’s minimum wage is scheduled to increase as follows:
- On January 1, 2016, the minimum wage will increase to $8.50 per hour.
- On January 1, 2017, the minimum wage will increase to $8.90 per hour.
- On January 1, 2018, the minimum wage will increase to $9.25 per hour.
Minnesota. Minnesota’s minimum wage is scheduled to increase as follows:
For large employers (employers that have at least $500,000 in annual gross sales or business done) the minimum wage will increase as follows:
- On August 1, 2015, the minimum wage will increase to $9 per hour.
- On August 1, 2016, the minimum wage will increase to $9.50 per hour.
For small employers (employers that have annual gross sales or business done of less than $500,000) the minimum wage will increase as follows:
- On August 1, 2015, the minimum wage will increase to $7.25 per hour.
- On August 1, 2016, the minimum wage will increase to $7.75 per hour.
Missouri. Effective January 1, 2015, Missouri’s minimum wage is $7.65 per hour.
Montana. Effective January 1, 2015, Montana’s minimum wage is $8.05 per hour.
Nebraska. Effective January 1, 2015, Nebraska’s minimum wage is $8 per hour. Nebraska’s minimum wage is scheduled to increase to $9 per hour on January 1, 2016.
Nevada. Effective July 1, 2015, Nevada’s minimum wage will increase; however, the state does not announce the new effective minimum wage rate until April 1st of each year.
New Jersey. Effective January 1, 2015, New Jersey’s minimum wage is $8.38 per hour.
New York. Effective January 1, 2015, New York’s minimum wage is $8.75 per hour. New York’s minimum wage is scheduled to increase to $9 per hour on January 1, 2016.
Ohio. Effective January 1, 2015, Ohio’s minimum wage is $8.10 per hour.
Oregon. Effective January 1, 2015, Oregon’s minimum wage is $9.25 per hour.
Rhode Island. Effective January 1, 2015, Rhode Island’s minimum wage is $9 per hour.
South Dakota. Effective January 1, 2015, South Dakota’s minimum wage is $8.50 per hour.
Vermont. Effective January 1, 2015, Vermont’s minimum wage is $9.15 per hour. Vermont’s minimum wage is scheduled to increase as follows:
- On January 1, 2016, the minimum wage will increase to $9.60 per hour.
- On January 1, 2017, the minimum wage will increase to $10 per hour.
- On January 1, 2018, the minimum wage will increase to $10.50 per hour.
Washington. Effective January 1, 2015, Washington’s minimum wage is $9.47 per hour.
West Virginia. Effective January 1, 2015, West Virginia’s minimum wage is $8 per hour. West Virginia’s minimum wage is scheduled to increase to $8.75 per hour on January 1, 2016.