The document discusses EANJ's role in addressing top concerns of employers in New Jersey such as rising healthcare costs, skills mismatch of the workforce, and difficulties with hiring and retaining employees. EANJ conducted surveys of over 200 employers in 2009 and over 700 members in 2014 to identify these priority issues. EANJ aims to raise awareness of these problems and provide employers with advice, training and information on best practices to help them find solutions. Some of the suggested actions for employers include offering retirement plans to employees and addressing issues around an aging workforce. The document outlines presentations made at an EANJ conference on these topics and the roles of various stakeholders in addressing the economic challenges faced by employers.

1. May 20, 2015
1

2. EANJ’s Role
Educations/Awareness
Advice
Training
Best Practices
Finding Solutions
2

3. In 2009, 8 state-wide meetings (217 employers)
expressed top concerns:
1. Increased healthcare costs (78%)
2. Productivity of workforce (62%)
3. Mismatch of skills of current and future workforce
(39%)
4. Finding money for capital investments (32%)
3

4. The healthcare cost problem was being
“solved” by cutting benefits and shifting costs
to workers
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5. 5
Raising Awareness
0
50
100
150
200
250
300
350
400
450
2010 2011 2012 2013 2014
Priority #1: Healthcare

6. 6
725 EANJ members (49% of membership)
Total 22,000+ covered lives

7. In 2014, top concerns are:
1. Healthcare costs (68%)
2. Mismatch of skills (62%)
3. Productivity (62%)
4. Difficulty hiring (29%)
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8.  Full-time opening remains vacant
 Older worker works part-time (no healthcare
benefits)
 Full-time hiring is delayed
8

9. 9

10. ProductivitySkills Wages
Hiring
10
Retirement

11. What Employers Can Do?
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12. 12

13.  38 million working-age households (45%) have
no private retirement account
 Medium retirement account balance is $3,000
for all working households
 $14,500 for near retirement households
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14. 14
Fewer Employers Sponsor 401K

15.  Administrative burdens
 Fiduciary and legal issues
 Absence of in-house expertise
 Cost and fees
 Employee turnover
15

16. Most Americans Say They Will Rely on 401K for
Retirement
16

17. After wages, employees report healthcare and
retirement savings as “very important”
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18. Joseph Calvanelli
President
OpinionAmerica Group
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What are Americans 50-years and older are
thinking and saying about retirement and the
economy

19. Dr. Teresa Ghilarducci
Professor, Economics
New School for Social Research
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Strategic Human Resources in an Aging
Society: How Can Employers Win?

20. 20
Grace Protos
Woman’s Bureau
Bruce Bergman
U.S. Bureau of Labor Statistics
Everett Lo
Social Security Administration
Christina Rim
Employee Benefits
Security Administration
Joseph Lagana
NJ Assembly
(38th District)
John J. Sarno
President
EANJ

21. Honorable Vincent Prieto
Speaker, NJ Assembly
The role of government
21
Beau Adams
Partner, Benefits Consultants Group
EANJ’s role