Almost two-thirds of workers say they would trust a robot over their manager

Much talk of workplace automation paints a picture of an apocalyptic stand-off between humans and their robot replacements. In fact, as many as 64% of workers say they would trust a robot over their manager, based on the joint study from U.S. technology company Oracle and research firm Future Workplace. Meanwhile, more than half say they have already turned to a robot for advice instead of their manager. The phenomenon is especially pronounced in Asia, where employees expressed a disproportionat


Much talk of workplace automation paints a picture of an apocalyptic stand-off between humans and their robot replacements. In fact, as many as 64% of workers say they would trust a robot over their manager, based on the joint study from U.S. technology company Oracle and research firm Future Workplace. Meanwhile, more than half say they have already turned to a robot for advice instead of their manager. The phenomenon is especially pronounced in Asia, where employees expressed a disproportionat
Almost two-thirds of workers say they would trust a robot over their manager Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: karen gilchrist
Keywords: news, cnbc, companies, trusting, say, employees, trust, technology, workplacein, robots, robot, zealand, manager, workers, workplace, twothirds


Almost two-thirds of workers say they would trust a robot over their manager

Much talk of workplace automation paints a picture of an apocalyptic stand-off between humans and their robot replacements.

But the ultimate relationship may be much more harmonious, according to a new report, which suggests that many employees are embracing artificial intelligence (AI) in the workplace.

In fact, as many as 64% of workers say they would trust a robot over their manager, based on the joint study from U.S. technology company Oracle and research firm Future Workplace. Meanwhile, more than half say they have already turned to a robot for advice instead of their manager.

The phenomenon is especially pronounced in Asia, where employees expressed a disproportionate distrust in their human colleagues when compared to technology. For example, 89% of workers in India and 88% of those in China admitted to trusting robots over their managers.

The two gargantuan labor forces were joined by workers in Singapore (83%), Brazil (78%), Japan (76%), Australia and New Zealand (58%), the U.S. (57%), the U.K. (54%) and France (56%) in trusting robots over their managers.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: karen gilchrist
Keywords: news, cnbc, companies, trusting, say, employees, trust, technology, workplacein, robots, robot, zealand, manager, workers, workplace, twothirds


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Here’s the Number 1 reason why seniors work well into retirement

Hero Images | Hero Images | Getty ImagesIf you’re still working well into your 60s, odds are you’re doing so to bolster your finances. More than 6 out of 10 people polled by Provision Living said that they’re working into retirement purely for financial reasons. “I can’t afford retirement” was the top financial driver behind why these individuals continued working, followed by “I’m supporting family.” Savings shortfallWHL | Getty ImagesWorking seniors had an average of $133,108 saved for retirem


Hero Images | Hero Images | Getty ImagesIf you’re still working well into your 60s, odds are you’re doing so to bolster your finances. More than 6 out of 10 people polled by Provision Living said that they’re working into retirement purely for financial reasons. “I can’t afford retirement” was the top financial driver behind why these individuals continued working, followed by “I’m supporting family.” Savings shortfallWHL | Getty ImagesWorking seniors had an average of $133,108 saved for retirem
Here’s the Number 1 reason why seniors work well into retirement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: darla mercado
Keywords: news, cnbc, companies, provision, reason, getty, images, retirement, heres, number, financial, work, insurance, youre, living, seniors, working, workplace


Here's the Number 1 reason why seniors work well into retirement

Hero Images | Hero Images | Getty Images

If you’re still working well into your 60s, odds are you’re doing so to bolster your finances. More than 6 out of 10 people polled by Provision Living said that they’re working into retirement purely for financial reasons. The company, a provider of senior living communities, surveyed 1,032 people in August. The participants were between the ages of 65 and 85, and they still worked either part-time or full-time. “I can’t afford retirement” was the top financial driver behind why these individuals continued working, followed by “I’m supporting family.”

“I’m paying off debt” rounded out the top three financial motivations that kept older people in the workplace. “When you have less than ideal retirement savings and you’re aging, that comes with additional medical costs and unforeseen expenses,” said Tricia Harte, a spokesperson for Provision Living. “One reason why they’re working past that age could be to keep those workplace benefits and keep overall costs down,” she said.

Savings shortfall

WHL | Getty Images

Working seniors had an average of $133,108 saved for retirement, Provision Living found. Meanwhile, a rule-of-thumb is to have at least 8 times your starting salary saved by age 60, according to Fidelity Investments. A 65-year-old couple retiring in 2019 can expect to spend $285,000 on health-care costs in retirement alone, Fidelity found.

Separately, about 30% of employees who plan to work beyond age 65 cited the need for health benefits as a reason why they’ll remain in the workplace, according to a survey from the Transamerica Center for Retirement Studies. Remaining in the workplace can help defray the cost of health insurance, life insurance coverage and disability insurance, as employers tend to cover a portion of the expense. Further, the underwriting for group insurance plans may be less stringent compared to the process for individual coverage.

Inching toward retirement

Marc Romanelli | Blend Images | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: darla mercado
Keywords: news, cnbc, companies, provision, reason, getty, images, retirement, heres, number, financial, work, insurance, youre, living, seniors, working, workplace


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Facebook is bringing Portal video chat devices to the office, taking on Zoom and Skype

Facebook is taking its Portal video chat gadgets to the business world, trying to grab a bigger slice of the videoconferencing market, where Zoom, Cisco Webex and Microsoft’s Skype are among the leaders. Facebook announced on Tuesday that Workplace, its communication and collaboration service for companies, will work with Portal devices, which so far have been marketed for consumers. People who own a Portal and use Workplace in the office will be able to combine the two to make video calls to co


Facebook is taking its Portal video chat gadgets to the business world, trying to grab a bigger slice of the videoconferencing market, where Zoom, Cisco Webex and Microsoft’s Skype are among the leaders. Facebook announced on Tuesday that Workplace, its communication and collaboration service for companies, will work with Portal devices, which so far have been marketed for consumers. People who own a Portal and use Workplace in the office will be able to combine the two to make video calls to co
Facebook is bringing Portal video chat devices to the office, taking on Zoom and Skype Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: salvador rodriguez
Keywords: news, cnbc, companies, facebooks, portal, skype, video, taking, facebook, workplace, work, office, videoconferencing, revenue, ipo, chat, bringing, zoom, devices, market


Facebook is bringing Portal video chat devices to the office, taking on Zoom and Skype

Facebook is taking its Portal video chat gadgets to the business world, trying to grab a bigger slice of the videoconferencing market, where Zoom, Cisco Webex and Microsoft’s Skype are among the leaders.

Facebook announced on Tuesday that Workplace, its communication and collaboration service for companies, will work with Portal devices, which so far have been marketed for consumers. People who own a Portal and use Workplace in the office will be able to combine the two to make video calls to colleagues.

“Even with the first generation of the device, we started seeing a lot of people asking to be able to call in to work calls,” Karandeep Anand, Facebook’s head of Workplace, told CNBC.

The videoconferencing space has received a healthy amount of attention this year, following Zoom’s IPO, which rocketed the company up to a $21 billion market cap. Global Market Insights expects the market to reach $20 billion in revenue by 2024.

While Zoom, in its IPO prospectus, highlighted competition from Cisco, Microsoft, Citrix and Google, it said that “other large established companies like Amazon and Facebook have in the past and may in the future also make investments in video communications tools.” Workplace already allows for video chat within the app on a smartphone or computer.

If you haven’t previously heard of Workplace or Portal, you aren’t alone. The two products are among the newer pieces of Facebook’s portfolio. They’re part of the payments and other fees business segment, which accounted for less than 2% of total revenue in the latest quarter.


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: salvador rodriguez
Keywords: news, cnbc, companies, facebooks, portal, skype, video, taking, facebook, workplace, work, office, videoconferencing, revenue, ipo, chat, bringing, zoom, devices, market


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Tech entrepreneur Tanya Sam: How to keep self-doubt from holding you back

Tanya Sam knows that to succeed in business, you need the confidence to keep taking risks that lead to growth. Seeing a lack of capital support for women and minority-led businesses, for example, she recently founded The Ambition Fund, an investment company focused on funding such underrepresented business owners. Sam sees many women in tech doubt their abilities. Plus, undervaluing your contributions to your workplace, and self-doubt in general, has been shown to affect your bottom line. The st


Tanya Sam knows that to succeed in business, you need the confidence to keep taking risks that lead to growth. Seeing a lack of capital support for women and minority-led businesses, for example, she recently founded The Ambition Fund, an investment company focused on funding such underrepresented business owners. Sam sees many women in tech doubt their abilities. Plus, undervaluing your contributions to your workplace, and self-doubt in general, has been shown to affect your bottom line. The st
Tech entrepreneur Tanya Sam: How to keep self-doubt from holding you back Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-28  Authors: mariam abdallah, aditi shrikant, myelle lansat
Keywords: news, cnbc, companies, selfdoubt, confidence, capital, tanya, workplace, venture, tech, women, support, companies, business, holding, entrepreneur, sam


Tech entrepreneur Tanya Sam: How to keep self-doubt from holding you back

Tanya Sam knows that to succeed in business, you need the confidence to keep taking risks that lead to growth. The nurse-turned-tech-entrepreneur, who recently appeared in Bravo’s 11th season of “The Real Housewives of Atlanta,” is also working to help others achieve their business goals. Seeing a lack of capital support for women and minority-led businesses, for example, she recently founded The Ambition Fund, an investment company focused on funding such underrepresented business owners. But raising funds to launch a business is just one challenge. Having the necessary confidence is another. Sam sees many women in tech doubt their abilities. “It’s really interesting and super-fascinating because so many women say things like, ‘I’m just not sure, I don’t know if I can do it,’ and ask questions like, ‘What if they find out that I’m not perfectly qualified?'” she tells Grow.

How doubt can hold you back

When she thinks back to her mentors in nursing and tech, Sam says that “most of them have been men” who helped her develop “some strength in the workplace” and to become more assertive. “They taught me a lot about how to think,” she says, adding, “When it comes to impostor syndrome, men don’t typically tend to have that.” Self-doubt can be crippling, even if you objectively know you’re qualified for that promotion or raise. Questioning your ability can make you hesitant to take even worthwhile risks. Plus, undervaluing your contributions to your workplace, and self-doubt in general, has been shown to affect your bottom line. Part of Sam’s aim is to make it easier for women to gain confidence, and to succeed, by providing financial support. She also serves as director of partnerships at TechSquare Labs, a technology start-up hub and venture capital fund, where she has mentored over 60 companies with women and minority founders. The start-up hub has invested in more than 30 companies — and those companies have raised over $300 million dollars in venture capital and generated over $100 million dollars in revenue.

How to gain confidence


Company: cnbc, Activity: cnbc, Date: 2019-09-28  Authors: mariam abdallah, aditi shrikant, myelle lansat
Keywords: news, cnbc, companies, selfdoubt, confidence, capital, tanya, workplace, venture, tech, women, support, companies, business, holding, entrepreneur, sam


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Ask a Manager: The workplace advice that helps with aggressive huggers, magic curses, and more

Alison Green, founder of advice column Ask a Manager, gets almost 500 questions per week — many of them about how to deal with erratic colleagues’ behavior. “The [question] I see pop up over and over again in all kinds of different scenarios is, ‘How do I say this difficult thing to someone else without causing tension in the relationship?'” “Sometimes there is a way to say something that is more diplomatic than they’d been thinking about. “The thing I thought was interesting is that, as a manag


Alison Green, founder of advice column Ask a Manager, gets almost 500 questions per week — many of them about how to deal with erratic colleagues’ behavior. “The [question] I see pop up over and over again in all kinds of different scenarios is, ‘How do I say this difficult thing to someone else without causing tension in the relationship?'” “Sometimes there is a way to say something that is more diplomatic than they’d been thinking about. “The thing I thought was interesting is that, as a manag
Ask a Manager: The workplace advice that helps with aggressive huggers, magic curses, and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: aditi shrikant, myelle lansat, anna-louise jackson
Keywords: news, cnbc, companies, helps, say, manager, magic, thing, green, deal, employee, advice, aggressive, workplace, huggers, curses, difficult, ask, way, think


Ask a Manager: The workplace advice that helps with aggressive huggers, magic curses, and more

Alison Green, founder of advice column Ask a Manager, gets almost 500 questions per week — many of them about how to deal with erratic colleagues’ behavior. “The [question] I see pop up over and over again in all kinds of different scenarios is, ‘How do I say this difficult thing to someone else without causing tension in the relationship?'”

The details of her answer change depending on the particular scenario. But the bones of the advice remains the same: Just have the uncomfortable conversation.

“I think sometimes people are hoping there is some magic combination of words that will let them communicate this difficult thing without feeling an awkwardness around it,” Green says. “Sometimes there is a way to say something that is more diplomatic than they’d been thinking about. But so much of the time the answer is, ‘You just have to say the thing, and yes, it’s going to feel a little awkward, but it will be fine.'”

For example, years ago, Green received a letter from a manager asking how to deal with an employee who claimed to be casting magic curses on her coworkers as a way to intimidate and threaten them. What’s worse, the letter-writer wrote, is that two employees actually got sick after being “cursed,” which instilled fear in the others.

“The thing I thought was interesting is that, as a manager, you do kind of have a template for handling this,” Green says. “You just have to take the magic curses out of it and think, ‘OK, what do you do if you have an employee threatening other people?'”


Company: cnbc, Activity: cnbc, Date: 2019-09-27  Authors: aditi shrikant, myelle lansat, anna-louise jackson
Keywords: news, cnbc, companies, helps, say, manager, magic, thing, green, deal, employee, advice, aggressive, workplace, huggers, curses, difficult, ask, way, think


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Indra Nooyi has advice for stamping out workplace bias

Indra Nooyi knows what it’s like to be the outsider at work. As an Indian woman who kickstarted her career in 1980’s corporate America, she had to fight for years to make herself seen before famously taking the helm as PepsiCo’s first female CEO in 2006. “I worked harder than anyone else … so that people didn’t look at me as a woman, a woman of color, an immigrant,” the 63-year-old said recently at Women’s Forum Asia in Singapore. Women and minorities are now better represented in universities


Indra Nooyi knows what it’s like to be the outsider at work. As an Indian woman who kickstarted her career in 1980’s corporate America, she had to fight for years to make herself seen before famously taking the helm as PepsiCo’s first female CEO in 2006. “I worked harder than anyone else … so that people didn’t look at me as a woman, a woman of color, an immigrant,” the 63-year-old said recently at Women’s Forum Asia in Singapore. Women and minorities are now better represented in universities
Indra Nooyi has advice for stamping out workplace bias Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: karen gilchrist
Keywords: news, cnbc, companies, indra, nooyi, workas, way, universities, woman, taking, stamping, workplaces, worked, women, workplace, womens, bias, advice


Indra Nooyi has advice for stamping out workplace bias

Indra Nooyi knows what it’s like to be the outsider at work.

As an Indian woman who kickstarted her career in 1980’s corporate America, she had to fight for years to make herself seen before famously taking the helm as PepsiCo’s first female CEO in 2006.

“I worked harder than anyone else … so that people didn’t look at me as a woman, a woman of color, an immigrant,” the 63-year-old said recently at Women’s Forum Asia in Singapore.

Times have since changed, she noted. Women and minorities are now better represented in universities and workplaces, and many companies say they are striving for greater diversity and inclusion.

But there remains a long way to go, continued Nooyi, who called on fellow business leaders to take a more active role in forwarding progress.


Company: cnbc, Activity: cnbc, Date: 2019-09-26  Authors: karen gilchrist
Keywords: news, cnbc, companies, indra, nooyi, workas, way, universities, woman, taking, stamping, workplaces, worked, women, workplace, womens, bias, advice


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The newest workplace perk looks a lot like a payday loan

When it comes to healthy financial habits, tapping your income ahead of payday is an old-school red flag. “It’s not a loan,” said Jeanniey Mullen, chief innovation and marketing officer at DailyPay, one such payroll provider. To be sure, accelerated pay is not the same as a payday loan, which is generally considered the absolute worst way to borrow money in a pinch. Many states set a maximum amount for payday loan fees ranging from $10 to $30 for every $100 borrowed. Still, a two-week payday loa


When it comes to healthy financial habits, tapping your income ahead of payday is an old-school red flag. “It’s not a loan,” said Jeanniey Mullen, chief innovation and marketing officer at DailyPay, one such payroll provider. To be sure, accelerated pay is not the same as a payday loan, which is generally considered the absolute worst way to borrow money in a pinch. Many states set a maximum amount for payday loan fees ranging from $10 to $30 for every $100 borrowed. Still, a two-week payday loa
The newest workplace perk looks a lot like a payday loan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-20  Authors: jessica dickler
Keywords: news, cnbc, companies, wages, lot, financial, payday, perk, workers, according, way, rate, looks, loan, shortterm, accelerated, workplace, newest


The newest workplace perk looks a lot like a payday loan

When it comes to healthy financial habits, tapping your income ahead of payday is an old-school red flag.

However, a growing number of companies, including Walmart, are giving advances by offering what’s now called “accelerated pay.”

As a perk, roughly 12% of companies include accelerated pay as another way of luring job candidates as wages remain relatively stagnant across the board, according to Michelle Armer, chief people officer at CareerBuilder.

“It’s not a loan,” said Jeanniey Mullen, chief innovation and marketing officer at DailyPay, one such payroll provider. DailyPay’s clients include Kroger, McDonald’s, Boston Market and Berkshire Hathaway, according to the company.

“There’s no reason that payroll has to be done once a week or once a month,” Mullen said. Through the app, workers have real-time access to earned wages. Like an ATM, DailyPay charges a flat transaction fee of $2.99.

To be sure, accelerated pay is not the same as a payday loan, which is generally considered the absolute worst way to borrow money in a pinch. Often offered through storefront payday lenders or even online, those short-term loans, generally for $500 or less, can come with an interest rate that easily runs into the triple digits – in addition to a “finance charge” or service fee.

Many states set a maximum amount for payday loan fees ranging from $10 to $30 for every $100 borrowed. Still, a two-week payday loan with a $15 fee per $100 borrowed is the equivalent of an annual percentage rate of almost 400%, according to the Consumer Financial Protection Bureau.

More from Personal Finance:

The next recession could crush many with credit card debt

A few tiny tweaks can make a huge difference in your finances

Good financial habits will only get you so far

The reality is that over three-quarters of all full-time workers are living paycheck to paycheck, according to a report from CareerBuilder.

For many Americans, one unexpected expense can still result in a significant setback, even as the country experiences a prolonged period of economic growth.

While household income has grown over the past decade, it has failed to keep up with the increased cost of living over the same period.

“If somebody is having a short-term emergency, this can help,” Armer said, “but it’s not something that should be overused or abused.”


Company: cnbc, Activity: cnbc, Date: 2019-09-20  Authors: jessica dickler
Keywords: news, cnbc, companies, wages, lot, financial, payday, perk, workers, according, way, rate, looks, loan, shortterm, accelerated, workplace, newest


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Australia’s 25 best start-ups to work for, according to LinkedIn

Australia’s vibrant start-up scene has this year opened the door to a wealth of attractive new employment opportunities in industries ranging from security to tech. But it’s in financial services that new businesses are making the greatest waves, according to a new workplace ranking. Financial services disruptors make up six of LinkedIn’s 10 most attractive start-ups to work for in Australia this year, with one-year-old challenger bank Judo earning the top spot. To be considered for this year’s


Australia’s vibrant start-up scene has this year opened the door to a wealth of attractive new employment opportunities in industries ranging from security to tech. But it’s in financial services that new businesses are making the greatest waves, according to a new workplace ranking. Financial services disruptors make up six of LinkedIn’s 10 most attractive start-ups to work for in Australia this year, with one-year-old challenger bank Judo earning the top spot. To be considered for this year’s
Australia’s 25 best start-ups to work for, according to LinkedIn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: karen gilchrist
Keywords: news, cnbc, companies, best, services, linkedin, australia, younger, according, list, attractive, work, employees, startups, australias, employment, workplace, financial


Australia's 25 best start-ups to work for, according to LinkedIn

Australia’s vibrant start-up scene has this year opened the door to a wealth of attractive new employment opportunities in industries ranging from security to tech.

But it’s in financial services that new businesses are making the greatest waves, according to a new workplace ranking.

Financial services disruptors make up six of LinkedIn’s 10 most attractive start-ups to work for in Australia this year, with one-year-old challenger bank Judo earning the top spot.

The new entrant is joined in the rankings by a number of digital banks, lending and financial advisory firms, as well as major names from the design, logistics and cosmetics sectors.

To be considered for this year’s list, companies had to be privately-held, be seven years or younger, and have 50 or more employees. They were then ranked based on LinkedIn user feedback across four criteria: Employment growth; engagement with employees; job interest; and ability to attract top talent from leading employers.

CNBC Make It takes a look at the list of the 25 most attractive start-ups in Australia right now.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: karen gilchrist
Keywords: news, cnbc, companies, best, services, linkedin, australia, younger, according, list, attractive, work, employees, startups, australias, employment, workplace, financial


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Workers say wearing jeans to work is worth $5,000 to them

What would workers give to wear jeans to the office? As offices get increasingly casual, employees are more resistant to stuffy suits, ties, dresses and skirts and the companies that adhere to such strict dress codes. Similarly, one-third of workers said they would rather have a casual dress code than an extra $5,000 in pay each year. Even on Wall Street, employers are lightening up when it comes to what employees wear. Earlier this year, Goldman Sachs said it was relaxing the dress code for all


What would workers give to wear jeans to the office? As offices get increasingly casual, employees are more resistant to stuffy suits, ties, dresses and skirts and the companies that adhere to such strict dress codes. Similarly, one-third of workers said they would rather have a casual dress code than an extra $5,000 in pay each year. Even on Wall Street, employers are lightening up when it comes to what employees wear. Earlier this year, Goldman Sachs said it was relaxing the dress code for all
Workers say wearing jeans to work is worth $5,000 to them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-27  Authors: jessica dickler
Keywords: news, cnbc, companies, say, casual, work, job, 5000, employees, workplace, randstad, employers, wearing, worth, jeans, dress, wear, staffing, workers


Workers say wearing jeans to work is worth $5,000 to them

What would workers give to wear jeans to the office? About $5,000.

As offices get increasingly casual, employees are more resistant to stuffy suits, ties, dresses and skirts and the companies that adhere to such strict dress codes.

In fact, 33% would rather quit their job — or decline a job offer — if it meant wearing business attire every day of the week, according to a new study by staffing firm Randstad US, which looked at attitudes about workplace fashion.

Similarly, one-third of workers said they would rather have a casual dress code than an extra $5,000 in pay each year.

More from Personal Finance:

Now is a great time to land a top job. Here’s how

Employers are hiring, but don’t expect a bigger paycheck

Your most valuable workplace benefit may be the most overlooked

“The bottom line is, as long as employees dress in a way that’s consistent with their employer’s policies, most managers care less about what their employees wear than about their performance and work output,” Traci Fiatte, CEO of professional and commercial staffing at Randstad US, said in a statement.

Even on Wall Street, employers are lightening up when it comes to what employees wear.

Earlier this year, Goldman Sachs said it was relaxing the dress code for all its workers. At the time, the investment bank said the shift was due to “the changing nature of workplaces generally in favor of a more casual environment.”


Company: cnbc, Activity: cnbc, Date: 2019-08-27  Authors: jessica dickler
Keywords: news, cnbc, companies, say, casual, work, job, 5000, employees, workplace, randstad, employers, wearing, worth, jeans, dress, wear, staffing, workers


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Making one small change can supercharge your retirement savings

New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months. “People have had the opportunity to increase their savings rate.” Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions. “Increasing your contribution rate, even by 1%, can make a big difference


New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months. “People have had the opportunity to increase their savings rate.” Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions. “Increasing your contribution rate, even by 1%, can make a big difference
Making one small change can supercharge your retirement savings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, making, york, president, savings, rate, workplace, change, supercharge, retirement, small, impact, fidelity


Making one small change can supercharge your retirement savings

New data from Fidelity shows that employees are contributing more to their retirement accounts than ever, and one-third of workers have increased their savings rate in recent months.

The average employee now contributes 8.8% of their salary, with employers kicking in another 4.7%, for a total of 13.5%. “That’s really close to the 15% we believe people should be saving,” Katie Taylor, a vice president at Fidelity, told CNBC.

The strong economy has likely played a role in helping people save more, says Douglas Boneparth, a certified financial planner and founder of Bone Fide Wealth in New York City. “The markets are rising, and it creates a positive effect,” he says. “People have had the opportunity to increase their savings rate.”

Indeed, experts agree that you can see the biggest impact from making one small, important change: Get in the habit of not just making but upping your retirement contributions.

“Increasing your contribution rate, even by 1%, can make a big difference in your long-term retirement savings,” says Kevin Barry, president of workplace investing at Fidelity Investments. “What may seem like a small amount today can have a significant impact on your account balance in 10 or 20 years.”


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: sam becker, anna-louise jackson
Keywords: news, cnbc, companies, making, york, president, savings, rate, workplace, change, supercharge, retirement, small, impact, fidelity


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