Do you need long-term care insurance?
Seventy percent of individuals reaching age 65 will need some form of long-term care during their lifetimes, according to the U.S. Department of Health and Human Services. And the older you get, the more likely it is that you will need long-term care – with 69 percent of people age 90 or older living with a disability.
Despite these numbers, only about 10 percent of elderly individuals currently have long-term care insurance, according to the National Bureau of Economic Research. To determine whether this insurance is right for you, consider these factors that increase your odds of needing long-term care.
- Being a woman. Women outlive men by an average of five years, so they are more likely to be living at home alone as they age.
- Having a disability. Having an accident or chronic illness increases the odds of needing long-term care. And, on average, 8 percent of people between the ages of 40 and 50 have a disability that could require long-term care.
- Being single. People who are single are more likely to need paid care than those who are married.
Emerging workplace trends
Many factors are reshaping the workplace as we know it. To stay competitive, here are the seven trends to adopt in your organization, according to Smart CEO.
- Offer flexible hours. Worldwide, 43 percent of workers said they would take flexible hours over a raise.
- Create collaborative environments. These foster creativity, community and shared accountability.
- Allow remote-first, not just remote-friendly employment. Allowing employees to work remotely empowers them to work in a way that best suits their needs and improves their work-life balance.
- Ditch the hierarchy. Autonomy inspires a culture of innovation, and having less top-down management is critical to succeeding.
- Get executives engaged at all levels. Executives who lead by example set the tone for higher employee engagement and adoption of the brand and culture.
- Increase automation. Use technology to streamline operations and eliminate geographic boundaries.
- Prepare for Generation Z. The first graduating class hits the workforce this year, and that means fresh talent for businesses.
Smart onboarding decreases turnover
As much as 20 percent of turnover happens in the first 45 days of employment, according to the Society for Human Resource Management (SHRM). That doesn’t give you much time to integrate new employees into your organization before they decide to leave.
The report “Onboarding New Employees: Maximizing Success,” produced by the SHRM Foundation, lists four successful levels of onboarding.
- Compliance – Teaching basic policies and procedures
- Clarification – Ensuring new hires understand their job and expectations
- Culture – Imparting a sense of formal and informal organizational norms
- Connection – Helping new hires establish relationships and networks
Taking these steps can help you quickly integrate new employees – and ensure you’re not hiring again in 45 days.