Employee Benefits: The Only Guide You Need

Achievers - Recruiting

The term “employee benefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. With a new generation of employees, soon to become the majority of the workforce, and a competitive, global labor market, comes new workforce needs and expectations. What are employee benefits? . What are benefits that are voluntary?

3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers - Recruiting

“I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. Here are three reasons to introduce better employee benefits as soon as the clock strikes 12.

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Top 10 Employee Benefits for 2020

Best Money Moves

Top 10 employee benefits for 2020. HR trends forecast the most desired employee benefits for 2020 like pet perks, flex work and financial wellness programs. It’s time to start building your organization’s employee benefits for 2020. . Companies can reduce turnover by nearly 140 percent with the right mix of benefits, according to research from Paycor. Here is our list of the top 10 employee benefits for 2020: Top 10 Employee Benefits for 2020. #10

7 essential retirement plan questions

Insperity

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.

Simplifying The Complex—5 Misunderstood Employee Benefits

PlanSource

Employee benefits are complicated, to say the least. With more options than ever before, an overwhelming amount of information and confusing HR lingo, it’s no surprise that 50% of employees don’t understand their benefits. But what’s missing the mark for employees? We’ve got the scoop on five of the most misunderstood employee benefits and several tips to help bridge the gaps in education. Access FREE materials in our benefits video library.

3 emerging technologies HR should pay attention to next year

HRExecutive

This year has brought HR a host of unprecedented issues to navigate: employee safety concerns, engagement in a newly remote world , legal considerations and even the reshaping of the HR role itself. Pryor: There’s plenty of data.

Employee benefits: A guide on common and best benefits

Workable

Employee benefits have become an essential part of any competitive compensation package. From law-mandated insurance to free snacks, benefits and perks can play a big role in talent attraction and employee retention. Before we get into the nitty-gritty of employee benefits (or fringe benefits), let’s define the term: Employee benefits are any kind of tangible or intangible compensation given to employees apart from base wages or base salaries.

10 Employee Benefits To Support Mental Health

PlanSource

Mental health data can be the most difficult to track, and for that reason many employers may have a hidden problem with mental health in their workforce. 1 in every 5 Americans has a mental health condition, and there’s no better time than Mental Health Awareness Month to evaluate your benefits package and ensure that it supports employees holistically. Open enrollment will be here before you know it , so now is the time to refresh your benefits strategy!

Benchmarking and Surveys Gauge if Employee Benefits are on Target

Corporate Synergies

What kind of health and welfare benefits attract and retain employees? With unemployment at a 50-year low, health and welfare benefits have become a big differentiator for employers, which means they need to be competitive to attract and retain employees. 1 What are competitive employee benefits? It’s no longer affordable to offer “Cadillac” plans with low employee contributions. What do your employees want? Employee premium cost.

Consequences of Outdated Employee Benefits Systems

Zenefits

Technology is making remarkable strides across the employee benefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benefits administration is regarded as the most complex HR process.

Student Loan Repayment 101: The Lowdown on 2020’s Hottest Employee Benefit

PlanSource

Chances are, you’ve probably heard about student loan repayment as an employee benefit. While innovative, student loan debt repayment as an employee benefit might not make sense for every employer. — What is Student Loan Repayment as an Employee Benefits? .

10 Employee Benefits For Better Mental Health

PlanSource

Mental health data can be the most difficult to track, and for that reason many employers may have a hidden problem with mental health in their workforce. 1 in every 5 Americans has a mental health condition, and there’s no better time than Mental Health Awareness Month to evaluate your benefits package and ensure that it supports employees holistically. Open enrollment will be here before you know it , so now is the time to refresh your benefits strategy!

10 big lessons from HRE’s Health & Benefits Leadership Conference

HRExecutive

Benefits have always been a vital company strategy. But in the age of COVID-19 —when health and safety were the biggest priorities, employees struggled with caregiving responsibilities, mental health issues rose and so much more—the importance of benefits has reached new heights.

Why You Need a Seamless Hiring, Payroll and Employee Benefits Platform

Hireology

The more time HR leaders spend on manual tasks, the longer it takes to move forward with hiring steps and get back to current employees who have HR-related issues or questions. Ultimately, this leads to both a frustrating candidate and employee experience. . To cut back on administrative tasks, your team can partner with a seamless hiring, payroll and employee benefits platform, which can make HR processes more efficient, saving your team time and money.

What to think about when taking a global approach to benefits

HRExecutive

And in the benefits realm, that’s no exception. Giving our employees a digital experience is no longer a nice to have; it’s a must have,” he said Thursday during a session at HRE ’s HR Technology Conference & Exposition. “It’s

Employee Benefits Key to Job Satisfaction, Survey Finds

HR Daily Advisor

Although American workers are split in their satisfaction levels with employer-provided benefits, companies offering benefits still have a competitive advantage over those that do not, the Employee Benefit Research Institute (EBRI) found in a recent survey. Satisfaction with an employer’s benefit offerings is crucial to employees’ overall job satisfaction and morale. Benefits benefits EBRI employer survey

A Guide to Employee Benefits in Canada

Rise

E mployee benefits in Canada can run the gamut from basic health care plans to travel benefits, company cars, and cellphones, so it’s easy to see why some businesses have trouble deciding what’s best for their organisation. More importantly, it can be difficult to keep track of the constantly changing rules surrounding taxes and employee benefits in Canada. Examples of taxable benefits include: Company cars.

Open enrollment: How can HR succeed in a pandemic?

HRExecutive

Open enrollment is already a complicated, high-stress time for HR and benefits leaders. Employees, confused and frustrated by their choices, historically spend little time choosing benefits. In the benefits world, we tend to use so much jargon.”. Employees are Listening’.

Health savings accounts: Not your parents’ retirement plan

HR Morning

With the rise in health savings account (HSA) enrollment among younger employees and the decline in company matching rates of 401(k)s, HSAs have emerged as a retirement account option for new employees. In this guest post, Sean Hanftm, a flexible compensation specialist with FSAstore.com / HSAstore.com , explains the many benefits of these savings vehicles and compares them to the most popular retirement accounts. A comparison of retirement savings options.

Benefits news you may have missed: Feb. 22-26

HRExecutive

There have been some strides in employees’ mental health since numbers hit an all-time low last month, according to new figures, but COVID-19 continues to take a dramatic toll on workers’ emotional wellbeing. How well are HR’s strategies helping mental health?

CHRO 63

Is Your Retirement Plan Ready for a DOL Investigation?

HR Daily Advisor

Department of Labor (DOL) investigation of an employer-sponsored retirement plan may originate in a variety of ways. It can be prompted by participant complaints, information obtained during an Internal Revenue Service (IRS) audit, information obtained from the plan’s service provider, data found in the plan’s annual Form 5500, or simply by a new initiative put forth by the federal agency. The post Is Your Retirement Plan Ready for a DOL Investigation? A U.S.

Open enrollment planning needs to start soon

PeopleStrategy

right now with all of the challenges resulting from COVID-19, but it is a topic you will want to focus on soon especially if you anticipate changes to the benefits plans you will offer. And a big part of this analysis is examining the role your benefits broke r played.

Disney takes top spot as company most admired for HR

HRExecutive

The data was collected by Fortune in late 2019 and recalibrated for Human Resource Executive ’s annual Most Admired list based on the four HR attributes. Söderström herself is among the newest HR employees. The Walt Disney Co.

CHRO 97

Data Reveals United States Ranks Last in Worker Benefits

Zenefits

From attracting and keeping talent to staying compliant with local, state, and federal regulations, workplace benefits are a big deal. ranks in comparison to other countries when it comes to work benefits. compares to other countries when it comes to workplace benefits.

Data 80

Do Your Employees Know They Can Use an HSA for Retirement?

Tango Health

As a benefits professional, you might thoroughly understand the advantages of using an HSA for retirement. But are your employees aware of the perks? Research indicates your workers might need a little help understanding how they can use an HSA for retirement.

Working Beyond Retirement Age, LinkedIn Shifts Into Video, Hot in HR

Advos

Weekly summary of mergers, acquisitions, funding and partnership news from the HR technology, recruitment, talent management and employee benefits space. Of Retirement Age, but Remaining in the Work Force – NYT. A recent Pew Research Center analysis of federal employment data lays out the numbers. Working Beyond Retirement Age, LinkedIn Shifts Into Video #Health #LinkedIn Click To Tweet. Changing Employee Behavior, Power an Organization with Love?).

Why Nonprofit Doesn’t Have to Mean No Employee Benefits

Zenefits

At the least, all nonprofits must pay their employees the state or federal minimum wage. That should help you determine the upper and lower end of your employee salaries. The best way to determine a good salary range for your employees is to research your competitors. How much do other nonprofits pay their employees for similar jobs in your area? They may collect nonprofit salary and compensation data. Nonprofit employee benefits: What should you offer?

Competitive Employee Benefits Key During Tepid Economic Recovery

Insperity

For businesses looking to grow and get ahead in the wake of the Great Recession, offering competitive employee benefits is key. Workers nationwide have seen their net worth, home equity and retirement plan values drop at an alarming rate, and are likely to appreciate their benefit packages now more than ever. 49,600: Median value of stock-based retirement plan in 2007. 44,000: Median value of stock-based retirement plan in 2010, a 7 percent plunge.

5 Things Employers Need in a Financial Wellness Program

Best Money Moves

How do the options for your employees measure up? Forty-two percent of employers now offer one or more financial wellness programs, according to data from MassMutual, and those numbers are only expected to grow. Customizable content for employees at any stage.

Don’t Let Your Data or Participants Get Lost in Space

HR Daily Advisor

Today’s equivalent of Dr. Smith is an unauthorized computer hacker who breaks into data security systems and wreaks havoc on confidential information. The possibility of cyberdata sabotage is now a day-to-day threat that frequently makes the headlines—and employee benefit plans are not spared exposure to data sabotage. Lost or Hijacked Data. Employee benefit plan administration has become an outsourced commodity. by Mary B.

5 Financial Stress Statistics for 2021

Best Money Moves

Increasingly, studies show that financial stress is a major problem among most employees, and employers need to reevaluate the scope of the problem in order to find solutions that financially empower their teams. Gen Z and Millennial employees are feeling this crunch the most.

Indirect Compensation: a Full Guide with 11 Examples

Digital HR Tech

But, there’s another side of compensation that’s important for employees too – their indirect compensation. Indirect compensation is any benefit to the employee that doesn’t come in the form of cash. Survey data bears out the importance of indirect benefits.

How to Wow the C-Suite as an HR Professional?

Achievers - Recruiting

Data matters, and any new proposal is going to be met with a skeptical eye — unless you can prove its value with metrics. Craft enhanced benefits plans designed to retain employees. Which benefits will have the biggest impact? Retirement savings plans .

How one company hopes to optimize unused paid leave

HRExecutive

Employees were working longer hours—40% longer than pre-COVID, Gordon said. “The bottom line is employees not taking paid time off is costing your company hundreds of thousands or even millions of dollars,” Gordon said.

How to boost employee experience during crisis

HRExecutive

Over the last few years, tight talent pools had us confronting the realities of our overall employee experience—from onboarding to last day. Now in the midst of the crisis, does employee experience still matter? What help will employees have available if and when issues arise?