It can be daunting to try to design a new benefits plan tailored to your employees’ wants and needs. Some studies say core benefits are most important, while others say flexibility or career development are key. One thing they mostly all agree on? Salary alone isn’t going to keep or attract your best hires. A comprehensive benefits package that includes a robust health plan, retirement and a mix of voluntary and lifestyle benefits is absolutely necessary.
The Employee Benefits Blog
We’ve talked before about how tailored employee wellness plans are more effective — and we’ve decided to take our own advice. We recently overhauled our wellness program to provide more multidimensional options for a wider variety of employees in the hopes that more people would participate. So far the verdict is that our new Wellness Dimensions program is a good one. Here’s how we moved from a one-size-fits-all program to something that works for everyone.
Many benefits administrators and HR professionals are in the thick of planning their 2017 benefits enrollment. They’re looking at amending plans, analyzing costs, interviewing vendors and ensuring compliance. Among the many considerations during this process will be new Affordable Care Act restrictions, structuring a communication plan to alert employees to their options and new regulations on voluntary plans to ensure employers and employees will not confuse them with major medical plans.
The state of employee benefits has gotten more varied in recent years: According to a new report from the Society for Human Resource Management, 60 percent of employers said the benefits they offered have stayed the same since last year, while a third reported an increase in benefits. The remaining 7 percent reported a decrease in benefits offerings; these numbers are similar to those from recent years.
How will your employees pay their expenses if they get cancer? What if they have heart disease or a stroke? A cancer insurance policy wouldn’t help then, but a critical illness policy would. Then why have both? Is there really a need?
Yes. Critical illness and cancer policies have some key differences that make each a valuable option for your employees. The following articles will give you more information on what’s covered, timelines and who needs what.
Employee benefits are always changing as employers try to find just the right mix to keep employees interested. As demographics, technology and employee needs have changed, benefits have gone through some major evolutions in the past 20 years. These changes are tracked in 2016 Employee Benefits, a new report from the Society for Human Resource Management. We went through the results to find some of the biggest changes over the past 20 years. Are you keeping up with the latest?
The National Alliance on Mental Illness says one in five Americans has a mental illness, which means 20 percent of your staff may be affected. Mental illness takes a toll on employees and businesses, but treatment can help many to recover or manage their illness very effectively.
As you know, the scope of employee benefits goes beyond health care and paid time off. Flexible work schedules in particular are gaining popularity, and any company that is interested in offering top-notch benefits should consider a workplace flexibility program. “Flexible work options are sought after by most employees, and people see them as not only a perk that makes their lives better, but a way of working that makes them better at their jobs,” says Brie Reynolds, senior career specialist at FlexJobs. Here’s what you need to know about offering workplace flexibility.
Many surveys and industry analysts are predicting employer health insurance costs will rise by 5 or 6 percent in 2017. As you research plans and costs for next year, keep this expected increase in mind. The increase may be more pronounced for small businesses because they have less bargaining power than larger organizations.
The Affordable Care Act has been law since March 2010, but there have been a lot of changes annually — new rules, delays and extensions have made it feel like a new law every year. 2017 will be no different; here are the latest changes you’ll need to know about in the coming year.