Finding the hidden gem within a wide field of potential employees is a particular skill of human resources professionals, but how do you unlock the potential that is hidden within each of your current staff members? When people are fulfilled and less worried about basic human needs, they are able to spread their wings and truly allow their talents to take flight. Employee benefits are often considered the “make or break” decision between whether tomorrow’s superstar elects to join your organization, but it’s important to keep in mind the value that current staff members derive from their employee benefits, too. See how you can leverage employee benefits to boost team morale and supercharge your business results.(more…)
Posts Tagged employee benefits
Starting the open enrollment season may feel like the kickoff of The Big Game to HR professionals, who gear up for months to get through this time of year. Employees are often confused about their options, leaving human resources staff members to answer the same question dozens — if not hundreds — of times. Even with exceptional communication, it’s unusual to have everyone complete their enrollment elections on time. It’s much more likely that staff members will still be chasing down answers several weeks after the enrollment period has officially closed. With all this stress and confusion, what can a great employee benefits broker do to help your company work through the challenges?(more…)
Employee benefits and insurance are one of the top business expenses. It makes up around 30% of your compensation costs, just behind payroll which is around 60%. These programs have the potential to directly affect your organization. Benefits are often integral in employee retention, the quality of talent you attract, employee turnover, productivity, and more. With so much riding on these decisions, you don’t want to leave it to change. An employee benefits broker can help select the best programs for your business and help with sign up and information dissemination. However, selecting a benefits broker should not be taken lightly. Before you hire your next broker, ask these questions.(more…)
If you’re not sure whether or not an employee benefits broker can help your company, you might be surprised at the advantages they offer. Health insurance and employee benefits can be difficult to navigate. Having some help and guidance in these matters can make the process much easier. But what exactly can an employee benefits broker do for your company? It could be more than you may realize.(more…)
Are you fully aware of the privacy policies that are in effect when you’re onboarding a new employee? What about the most recent changes to government policies? Between hiring new staff members, performance reviews and your daily work, it can be challenging to stay up-to-date on all the latest information around compliance in regards to employee benefits. Perhaps one of the easiest ways to ensure your staff is always taking the right steps to respect the privacy of others is to implement proactive software tools that will protect both individuals — and your organization.
Creating an employee benefits package that provides your employees and their families with the support that they need without placing undue stress on the organization is a fine balancing act. Employee benefits continue to rise in cost — much more than the average cost of living increases can cover. Organizations are continually looking for ways to provide a comprehensive benefits package that is still affordable for employees, which can feel extremely difficult at the best of times. Here are some tips from benefits professionals to help you combat the rising cost of employee benefits without negatively impacting their coverage levels.
Changes to employee benefits can be difficult to manage. If they aren’t handled correctly, employee morale can suffer and employees may be more hesitant to participate in group plans. Not all employees are averse to change. There are some who experience dissatisfaction with their current benefits. According to a study by Clutch, 52% of them wish their employer would increase a benefit they already have, while 14% want their employers to offer completely different benefits.
The days when you received a massive stack of paper to mull over during open enrollment time every year may be coming to an end. Each year, more workplaces are moving towards a more streamlined approach, that allows employees to review selection choices for the year online. There are a number of benefits to both the employee and the business, making it unsurprising that this convenient method of making annual selections continues to gain traction. The growing need to protect personal information and show full compliance with HIPAA and other data protection standards is crucial. When annual elections are completed online, you reduce the chance of an employee accidentally seeing private information and can even reduce the overall cost. The Bureau of Labor Statistics notes the significant surge in the cost of employee benefits, which may be the most compelling reason of all for making the shift. We’ll discuss 3 key reasons why employee benefits are moving from paper to a digital format.
There are so many changes taking place with employee benefits and insurance; open enrollment is more confusing than ever. HR departments across the country are taking steps to try and cut down on the misinformation while ensuring that employees have what they need to make informed decisions. Research by Digatate shows the importance of organized, clear onboarding:
Keeping your employees engaged, productive and happy is a major factor in the success of your company. According to GuideSpark, “86% of employees say that benefits play a significant role in the decision to stay with their employer.”
The best HR departments not only create strong benefits packages, but they also know how to get their employees enrolled. What good is a benefits package if no one signs up?