Enlightening research report by Saga plc. on the over-50s in the workforce in the UK, aka Generation Experience, valuing their contribution in paid and unpaid employment. "The new research, developed by Saga Insight demonstrates how the over 50s – aka ‘Generation Experience’ – are making a huge, positive economic contribution across a variety of activities, including through paid employment, volunteering, informal caring, ‘grandparenting’, and charitable giving. "The research is part of Saga’s wider strategy to challenge misperceptions about ageing and calls on policy makers and employers to make formal employment more attractive for people over 50." What could, or are, employers doing to support this change, to maximise benefits for both Generation Experience and themselves? https://lnkd.in/eTKXBgKx
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Nudge" offers numerous examples of how subtle interventions can influence behaviour and decision-making. Here are a few examples from the book: 🔋 Opt-out vs. Opt-in: One example discussed in the book involves organ donation policies. In countries where individuals are automatically enrolled as organ donours unless they explicitly opt out, donation rates tend to be higher compared to countries where individuals must actively opt in. This simple change in the default option significantly increases the number of organ donours. 🔋Save More Tomorrow: The authors introduce the concept of "Save More Tomorrow," a retirement savings program developed by behavioural economists Shlomo Benartzi and Richard Thaler. Instead of asking employees to increase their retirement contributions immediately, the programme allows them to commit to saving more in the future, such as with their next salary raise. This approach leverages the tendency for people to procrastinate and makes saving for retirement easier and more palatable. 🔋The Fly in the Urinal: In a clever example of environmental nudging, airport bathrooms were redesigned with a small image of a fly etched into the urinals. This simple addition resulted in a significant reduction in spillage, as men subconsciously aimed at the target, thereby improving restroom cleanliness and reducing maintenance costs. 🔋Social Norms and Energy Consumption: The book discusses a study where homeowners received monthly reports comparing their energy consumption to that of their neighbors. Those who received feedback indicating that their energy use was higher than average tended to reduce their consumption in subsequent months. This illustrates how leveraging social norms can influence behavior positively. These examples highlight the power of nudges in shaping behavior and improving decision-making in various domains, from personal finance to public health and environmental conservation. #yournextlevel #yournextlevelglobal #nudge #bookreview #blinkist
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Nonprofit workers often have to rely on 401(k) retirement plans that invest their money in assets that don't align with their values like gas, oil and coal. That's a steep cost for survival in retirement when you’ve spent your life working to address the issues those investments caused. Just Futures gives them alternative investment options by screening companies for complicity in climate change, weapons manufacturing, employment discrimination, and more. https://lnkd.in/gzBn7U4v
Just Futures Offers Sustainable 401(k) Options for Nonprofit Workers
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Another week, another spotlight on our re-launched Success Stories. Today's spotlight is on the United Way of Greater Toronto. I have spent over 7 years involved with a small local non-profit as a volunteer and then a board member. I have seen first-hand how important it is for these organizations to stretch every dollar to maximize their investment in their purpose. That is also true of their investment in their people. So how can we help non-profit workers maximize retirement income per dollar of contribution? How can we help them create dignified retirements? And how do we give non-profits a leg up recruiting and retaining their staff? By helping these organizations bring DBplus to their workers. “As a non-profit organization committed to combating poverty within our community, United Way is mindful of how we use our resources. With CAAT’s DBplus, we’ve secured a cost-effective pension solution ensuring our employees can have a worry-free retirement in the future.” - Daniele Zanotti CEO, United Way Greater Toronto
United Way Finds a Better Way to Secure Employee’s Retirement
caatpension.ca
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