<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Learn More

Kimberly-Clark Professionals: What Aspects of Job Loss do People not Like to Talk About?

image-table

Healthcare Provider Update: Healthcare Provider for Kimberly-Clark: Kimberly-Clark does not typically provide direct healthcare services as a core aspect of its business. However, it does offer healthcare products under its brand portfolio, which includes items like medical gloves and protective wear used in various healthcare settings. The company primarily focuses on consumer products in personal care and hygiene, and while it may collaborate with organizations in the healthcare sector, it is not a traditional healthcare provider. Potential Healthcare Cost Increases for Kimberly-Clark in 2026: As we approach 2026, Kimberly-Clark and its consumers may face significant increases in healthcare costs due to anticipated steep hikes in health insurance premiums. The Affordable Care Act (ACA) marketplace is expected to see rate increases exceeding 60% in certain regions, driven by factors such as rising medical costs and potential loss of enhanced federal premium subsidies. Without intervention, these escalating premiums could drastically affect affordability for millions, with some policyholders at risk of experiencing up to a 75% rise in out-of-pocket expenses. This perfect storm of rising costs could pressure both Kimberly-Clark's employees and consumers, impacting the overall demand for its healthcare-related products. Click here to learn more

Rich personal and professional support systems are critical for Kimberly-Clark employees facing job insecurity and mental health issues, says Brent Wolf, of the Retirement Group, a division of Wealth Enhancement Group. Such systems 'provide a safety net in turbulent times and in maintaining identity and purpose for people.'

And Kevin Landis of the Retirement Group of Wealth Enhancement Group says proactive career management is important for Kimberly-Clark personnel. He advises employees to 'keep learning and practicing psychological wellness to adapt to the uncertain economic landscape.'

What is it that we will discuss here?

1. The Psychological Impact of Economic Instability: How economic downturn caused by COVID-19 has led to greater mental health challenges among Kimberly-Clark employees.

2. Linking Employment Status to Mental Wellbeing: Correlation between job security, unemployment and mental health - need for psychological interventions.

3. Support Systems & Job Training for Reemployment: Psychological support should be combined with practical job training to improve reemployment and mental well being of affected people.

Impacts on Mental Health of Economic Upheaval from COVID-19

The economic crisis caused by the COVID-19 pandemic has transformed the international stage in recent years. That this is resembling the turmoil of the Great Depression has alarmed economists and public health officials. The prospect of increased mental health complications stemming from job insecurity in the United States is making preparations urgent. What does that mean to Kimberly-Clark personnel?

The Relationship of Unemployment to Mental Health

Unemployment has historically been linked to anxiety, melancholy and lower life satisfaction. Underemployment and job insecurity, two less frequently mentioned pandemic repercussions, are also sources of distress for large sections of the population.

The relevance of such psychological intervention is supported by evidence. Existing research suggests that broad job search initiatives involving increased motivational and cognitive aptitudes in addition to skill development generally produce better outcomes for professionals employed by Kimberly-Clark companies. With psychologists in these programs, the interconnectedness of unemployment with physical and mental health can be reinforced.

Longevity of employment is a psychological and financial nightmare, says Professor Carl Van Horn, a public policy expert at Rutgers University. Although immediate solutions to the economic hardships are not possible, psychological support can be invaluable in navigating and managing situations.

Pervasive Consequences of Job Loss

Famous industrial and organizational psychologist Dr. Connie Wanberg stresses the societal impact of employment. It is a channel for social interaction, identity, purpose and structure, in addition to income. Potentially devastating effects if these components are lost by Kimberly-Clark people are enormous.

One large scale meta-analysis led by Dr. Frances McKee-Ryan from the University of Nevada, Reno examined how unemployment increases vulnerability to mental health problems when basic needs like healthcare, food and shelter are threatened. An extensive German meta-analysis by Drs. Karsten Paul and Klaus Moser supports the causal connection between unemployment and deteriorating mental health.

The prolonged unemployment compounds this negative trend. Among other observations, high wealth and weak unemployment - a description that aptly describes the United States - make countries particularly vulnerable to adverse effects of unemployment on mental health.

But widespread unemployment does not automatically ease the psychological pain. Although universally felt, the pandemic-induced economic downturn worsens mental health issues because immediate reemployment opportunities are scarce.

Addressing Self-Perception and Unemployment

Research illuminated the complex interaction between unemployment, self-perception and external systemic forces. A tendency among professionals in the United States to blame employment loss on oneself contributes to poor mental health.

Psychologists help reorient this perception. Their assistance might help people to see that external influences can influence people and to work on self-improvement rather than self-deprecation.

The nuanced issues of underemployment and Job Insecurity

Underemployment also requires attention. Early results show job instability characterized by inadequate compensation or temporary employment negatively affects mental well-being. A vicious circle of anxiety that feeds perceptions of uncertainty can create insecurity that prevents efforts to mitigate that insecurity, says Leeds University Business School's Dr. Chia-Huei Wu.

For those approaching retirement age, unemployment has especially devastating results. Empirical results indicate that involuntary job loss may influence future financial security and retirement timing. Involuntary job loss dragged down retirement wealth by on average 9%, according to a December 2020 study by the Urban Institute. That decrease reflects depleted savings and possible penalties for premature withdrawals from retirement accounts. In addition, such circumstances may increase mental health strains associated with financial anxiety and future unpredictability.

Identifying and Helping Vulnerable Populations

Some particular demographic groups are comparatively more vulnerable to the COVID-19 pandemic consequences. In particular the service sector - made up almost entirely of people of color and women - has seen high levels of unemployment. Defective broadband also means remote work is unaffordable in some areas.

An especially scary revelation involves the older workforce - those in their 50s and 60s. People are particularly at risk for health and economic risks during economic recession. Yet entry-level positions also are scarce among the youngest in the labor force.

Job Training & Support

The tight labor market for Kimberly-Clark employees presents a formidable obstacle to reemployment but some interventions may improve reemployment prospects and psychological well being of those seeking employment. This is an admirable endeavor - the JOBS program developed by Dr. Richard Price and Dr. Amiram Vinokur of the University of Michigan. The program works in many countries and combines skill development with psychological support to ensure a balanced job search in the current turbulent environment.

In short, mental health consequences of the economic crisis caused by COVID-19 are numerous and diverse. For these reasons a combined psychological - practical strategy is needed. As time goes by, Kimberly-Clark personnel must prioritize and execute these broad strategies to help those affected by these unprecedented circumstances.

During the COVID-19 pandemic, navigating the current economic environment is like a sailor facing a sudden and intense tempest after decades of calm navigation. The more experienced and competent mariners are unexpectedly met with turbulent water which threatens their fine sense of navigation and safety. The tempest is not attached to prior achievements or social standing, like unforeseen unemployment or the unpredictable labor market. It may upset even the most successful people's equilibrium and cause financial and emotional harm. But using navigational tools and support systems analogous to social support networks and psychological interventions these sailors may navigate the tempest, realign themselves and explore new lands. This difficult expedition - though formidable - shows the fortitude and flexibility of those who have labored through calm and turbulent waters at Kimberly-Clark.

Added Fact:

A difficult identity reconstruction task is often not discussed much when experienced professionals lose their jobs. According to a March 2023 Harvard Business Review article, people later in their career equate self-worth with professional success. Any sudden separation from this association due to job loss could create an identity crisis just as debilitating as the financial strain. This article argues that pre-retirement counseling for Kimberly-Clark professionals should address financial planning as well as psychological readiness for the transition - and that personal identity must be redefined beyond the professional realm.

Added Analogy:

A career with a Kimberly-Clark company is like captaining an ocean liner. Years pass in calm and stormy seas with your identity tucked into the hull - big, tough, and seemingly unsinkable. But when the ship bumps into a hidden iceberg - like a job loss suddenly - the vessel becomes compromised. It is rarely spoken about however, the captain's silent struggle not against the sea, but against the loss of command. Like the captain, the displaced professional faces a private reckoning. They have lost their self-image reflected in the sexy interior of their corporate ship. The damage from the iceberg is below the waterline and represents the grief professionals feel when losing their job, their daily purpose, and a part of themselves they thought was unsinkable. It's this aspect of job loss, the identity crisis and not just the financial impact that many Kimberly-Clark professionals deal with in their heads alone.

Articles you may find interesting:

Loading...

Sources:

1. Bierman, Alex, et al. 'COVID-19, Economic Impact, Mental Health, and Coping Behaviors: A Conceptual Framework and Future Research Directions.'  Frontiers in Psychology , vol. 11, 2021,  www.frontiersin.org/articles/10.3389/fpsyg.2020.585897/full .

2. Ferry, Frances, et al. 'Employment Uncertainty and Mental Health During the COVID-19 Pandemic: The Role of Underemployment.'  Frontiers in Sociology , vol. 6, 2021,  www.frontiersin.org/articles/10.3389/fsoc.2021.650238/full .

3. Padilla-Frausto, Imelda. 'COVID’s Economic Fallout Increased Risks for Poor Mental Health.'  UCLA Newsroom , 15 Sept. 2021, newsroom.ucla.edu/releases/covid-economic-fallout-increased-risks-for-poor-mental-health.

4. McInerney, Paul, et al. 'COVID-19 Induced Economic Slowdown and Mental Health Issues.'  Frontiers in Public Health , vol. 9, 2021,  www.frontiersin.org/articles/10.3389/fpubh.2021.674194/full .

5. Sun, Lin, et al. 'The Vicious Impact of COVID-19 on Mental Health: An Exploratory Review During the Pandemic.'  Journal of European Psychology Students , vol. 12, no. 2, 2021,  www.jeps.efpsa.org/articles/10.5334/jeps.gh/ .

What is the 401(k) plan offered by Kimberly-Clark?

The 401(k) plan offered by Kimberly-Clark is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How does Kimberly-Clark match employee contributions to the 401(k) plan?

Kimberly-Clark provides a matching contribution to the 401(k) plan, which typically matches a percentage of what employees contribute, up to a specified limit.

Can employees at Kimberly-Clark choose how their 401(k) contributions are invested?

Yes, employees at Kimberly-Clark can choose from a variety of investment options within the 401(k) plan to align with their retirement goals.

When can employees at Kimberly-Clark enroll in the 401(k) plan?

Employees at Kimberly-Clark can enroll in the 401(k) plan during their initial onboarding period or during designated open enrollment periods.

Is there a vesting schedule for Kimberly-Clark's 401(k) matching contributions?

Yes, Kimberly-Clark has a vesting schedule for matching contributions, meaning employees must work for the company for a certain period before they fully own the matched funds.

What is the maximum contribution limit for Kimberly-Clark's 401(k) plan?

The maximum contribution limit for Kimberly-Clark's 401(k) plan is subject to IRS regulations, which are updated annually. Employees should refer to the latest guidelines for specific limits.

Does Kimberly-Clark offer any financial education resources for employees regarding their 401(k)?

Yes, Kimberly-Clark provides financial education resources and tools to help employees make informed decisions about their 401(k) savings and investments.

Can employees take loans against their 401(k) savings at Kimberly-Clark?

Yes, Kimberly-Clark allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

What happens to my 401(k) if I leave Kimberly-Clark?

If you leave Kimberly-Clark, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Kimberly-Clark plan if allowed.

How often can employees change their contribution amounts to the 401(k) at Kimberly-Clark?

Employees at Kimberly-Clark can typically change their contribution amounts to the 401(k) plan during designated enrollment periods or as specified by the plan guidelines.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Kimberly-Clark offers both a defined benefit pension plan and a defined contribution plan. The defined benefit plan provides retirement income based on years of service and compensation, with benefits frozen but payable upon reaching specific milestones. In 2015, the company transferred payment responsibilities for retirees to Prudential and MassMutual.
Restructuring and Layoffs: Kimberly-Clark announced it will lay off approximately 1,000 employees globally as part of a restructuring plan to improve operational efficiency (Source: Reuters). Cost Management: The company aims to save $500 million annually through these measures. Financial Performance: Kimberly-Clark reported a 5% increase in net sales for Q3 2023, driven by strong demand for personal care products (Source: Kimberly-Clark).
Kimberly-Clark grants RSUs that vest over time, providing shares upon meeting vesting conditions. Stock options are also part of their compensation plan, allowing employees to purchase shares at a fixed price.
Kimberly-Clark has been actively enhancing its employee healthcare benefits to adapt to the current economic, investment, tax, and political environment. In 2022, the company introduced several new healthcare initiatives aimed at improving employee well-being. These included comprehensive health insurance plans covering medical, dental, and vision care, along with mental health support through Employee Assistance Programs. The company also offered flexible work arrangements and wellness programs to help employees manage stress and maintain a healthy work-life balance. These enhancements reflect Kimberly-Clark's commitment to fostering a supportive and healthy workplace, which is essential for maintaining productivity and morale in a competitive market. In 2023, Kimberly-Clark continued to build on these initiatives by introducing additional benefits, such as increased access to telemedicine services and expanded support for mental health and wellness. The company's focus on employee healthcare aligns with its broader strategy to create a resilient and engaged workforce capable of navigating the complexities of the current economic landscape. These efforts are particularly important given the ongoing economic uncertainties and the increasing importance of employee well-being in driving business success. By investing in comprehensive healthcare benefits, Kimberly-Clark aims to attract and retain top talent, ensuring long-term sustainability and growth.
New call-to-action

Additional Articles

Check Out Articles for Kimberly-Clark employees

Loading...

For more information you can reach the plan administrator for Kimberly-Clark at 100 centurylink drive Monroe, LA 71203; or by calling them at 800-871-9244.

https://annualreport.stocklight.com/nyse/kmb/23601986.pdf - Page 5, https://www.kcpensions.co.uk/documents/kimberly-clark-pension-scheme-2022.pdf - Page 12, https://www.kcpensions.co.uk/documents/kimberly-clark-pension-scheme-2023.pdf - Page 15, https://www.kcpensions.co.uk/documents/kimberly-clark-pension-scheme-2024.pdf - Page 8, https://www.kimberly-clark.com/documents/benefits-guide-2023.pdf - Page 22, https://www.kimberly-clark.com/documents/benefits-guide-2024.pdf - Page 28, https://cache.hacontent.com/documents/kimberly-clark-retirement-guide-2022.pdf - Page 20, https://cache.hacontent.com/documents/kimberly-clark-retirement-guide-2023.pdf - Page 14, https://cache.hacontent.com/documents/kimberly-clark-retirement-guide-2024.pdf - Page 17, https://www.kimberly-clark.com/documents/healthcare-plan-2023.pdf - Page 23

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Kimberly-Clark employees