Though most people do not like to think about it, accidents can happen—and they can be devastating. They can occur without warning, and most individuals are not financially or emotionally prepared for them. However, offering a group accident insurance plan as part of your benefits package can help your employees in the event of an accident.
Employee engagement—or the commitment and energy that employees bring to work—impacts productivity and performance. According to a recent Gallup poll, only 33 percent of employees are engaged at work.
Engaged vs. Disengaged Employees
Engaged employees are more than just satisfied with their jobs, they are committed to the company and its goals. They have passion, pride and energy for their work and their organization, and are willing to go the extra mile on a regular basis. Employees who are truly engaged stay because they enjoy their work and support the company.
On the flipside, disengaged employees simply work for a paycheck, favorable working conditions or job security.
It’s important to note that employees can enjoy their work and be satisfied without being necessarily engaged.
Onboarding is a trending term in the world of HR, but not everyone knows what it is or how to do it.
What is Onboarding?
According to the Society for Human Resource Management, “Onboarding is the process by which new hires get adjusted to the social and performance aspects of their jobs quickly and smoothly, and learn the attitudes, knowledge, skills and behaviors required to function effectively within an organization.” Onboarding takes training and orientation programs to the next level. Unlike a traditional orientation program, onboarding is a systematic process that extends well beyond the first day of employment. The goal of the onboarding process is to cultivate a long-term relationship between the employer and the employee while fostering a feeling of belonging and an affirmation of making the right choice.
Why is Onboarding Important?
A study published in the Academy of Management Journal, found that the first 90 days of employment is a pivotal time period for employees to build rapport with a company, its management and their co-workers.
Wage and hour self-audits are vital for every organization and allow employers to identify employees making above or below their position’s average wage. This is crucial for keeping salaries close to industry averages and avoiding potential discrimination lawsuits. A useful way of identifying overcompensated or under-compensated employees is to employ the use of a “red circle” and “green circle” mechanism. The red and green circles method is straightforward and provides a simplistic way of grouping employees.
Before an audit begins, your company will evaluate the market and analyze the pay ranges for your industry. After establishing the ranges, look at employee salaries and see who falls above or below the range for their position. Overpaid employees fall into the red circle category and underpaid employees fall into the green circle.
According to the U.S. Department of Education’s National Assessment of Adult Literacy (NAAL), more than 1 in 3 Americans, or over 77 million people, are considered to have inadequate health literacy, which means that they have difficulty with common health tasks like reading a prescription drug label or making a wise health care decision.
It is estimated that low health literacy costs the United States $106 billion to $238 billion annually and accounts for 7 to 17 percent of all personal health care expenditures.
New administrations bring new challenges to the professional realm, and the Trump administration is no exception. Many of the former administration’s health care initiatives are being rolled back or halted. This leaves employers in an uncertain place in regard to compliance regulations and reform laws. This uncertainty comes in addition to the already complicated day-to-day tasks of an organization, leaving many feeling vulnerable.
The following are five important issues that should be closely monitored in 2017:
Unraveling of the ACA and Ensuring Employees are Educated Health Care Consumers: A new administration is now in office and President Donald Trump is vowing to repeal the Affordable Care Act (ACA). The first wave of this dismantling came in an executive order that directs federal agencies to waive, delay or grant exemptions from ACA requirements that may impose a financial burden. Other measures are promised to come later in the year, and experts agree that the “wait and see” approach is best for employers until a clear directive is issued. This means employers should focus their energy on increasing employee health care knowledge in order to make employees more educated consumers.
Tax season is fast-approaching, which means big opportunity for scammers. Are you doing everything you can to educate your employees about these risks?
The Internal Revenue Service (IRS) published five common tactics used by scam artists over the phone. Keep an eye out for these strategies in case you’re targeted this tax season.
Due to the Affordable Care Act (ACA), most stand-alone health reimbursement arrangements (HRAs)—an HRA that is not offered in conjunction with a group health plan—have been prohibited since 2014. However, on Dec. 13, 2016, the 21st Century Cures Act (Act) was signed into law, which allows small employers that do not maintain group health plans to establish stand-alone HRAs, effective for plan years beginning on or after Jan. 1, 2017.
The process of creating and delivering a manageable and effective benefit communication program can be a time-consuming undertaking, but by following some helpful tips and best practices, you can streamline the success of your program.
It’s hard to believe, but 2017 is here. Predictions aren’t exactly reliable, and uncertainty over impending health insurance laws raises a lot of questions, but as we plan for the year ahead, we’ve tracked down some employee benefit trends to look for.
Tailoring benefits packages to attract and retain millennials.
According to Pew Research Center, millennials represent the largest segment of the U.S. labor force. The pinnacle footprint of this generation may be the value they place on improving and expanding their life experiences over gaining more stuff. When it comes to their work, millennials may be keeping their options open and looking for new jobs. The 2016 Aflac WorkForces Report reveals that 66 percent of millennials say they are likely to look for a new job in the next 12 months. Additionally, more than any other age group, 72 percent of millennials are at least somewhat likely to take a job with lower pay but better benefits, making benefits options an important way employers can attract and retain their workforce