Improve workplace fitness by focusing on the collective "we"

Employees are more likely to try wellness programs if they know their coworkers are participating as well. In this article, Maurer discusses how focusing on the collective "we" will increase participation in employee wellness programs.


Workplace wellness programs are implicitly focused on the individual: biometric screenings, individual incentives, gym member reimbursements. This approach can leave employees feeling less than motivated to take part because, even though the programs focus is on the individual, by no means does it make the program personalized.

As workplace wellness programs rapidly improve to meet the expectations of today’s workers, it’s important to remember the value of accountability and what a culture of health can do to create a workplace committed to wellness solutions.

Since wellness programs have traditionally focused on the individual, oftentimes employees never know if their colleagues are participating in any of the programs being offered. Bring it into the light by giving your employees a program they want to talk about, while still keeping it personalized. The collective “we” are not only more likely to try a wellness program, but we are also more likely to stick with it, if we know our peers are also partaking.

The power of sharing with your peers

We all know writing down a goal gives you a much higher chance of achieving it, but research from the Association for Talent Development says someone is 65 percent more likely to achieve a goal if the goal is shared with another person. Why? Because it creates accountability.

We are in the day and age of a social media frenzy, and, it’s cross-generational. We share everything we do and spend a lot of our time concerned with what our friends, family and co-workers are doing through these social platforms. Wellness practitioners can and should be taking advantage of this, especially as you build your culture of health.

To find the right wellness solution for your company or client, look for solutions that are social and easy to use. If the company as a whole has buy-in, or even a few internal advocates, word-of-mouth can be incredibly powerful. Whether that is around the water-cooler at work, on employees’ personal social media channels, or within the work intranet, create opportunities for employees to talk about your program and encourage them to use it. We know when an employee knows a few of their coworkers are planning to attend yoga or kickboxing on a Tuesday evening, they are much more likely to sign up and actually go.

These “wellness relationships” help not only build stronger bonds at work, but they also help you create and maintain healthy habits. You want your employees to engage with your wellness solution, so encourage them to share and become part of the “solution” themselves. At the end of the day, workplace wellness solutions are there to help everyone get healthier and stay that way, but they have to use the program.

More than just an incentive

We have spent at least a decade looking at incentives and how we align them to solve problems with low participation in our wellness program, when we should have focused on building a program that empowers our employees and puts them in the driver’s seat. I’m not suggesting you stop incentivizing your employees, but I do suggest you measure what it is you are rewarding. If it can’t be measured you may as well burn the money you are investing.

Remember, your employees are the real reason your program will sink or swim. Take care of your employees and encourage them to be and find their healthiest selves. Empower them in the process and give them choice in how, when and with who they participate in your wellness program and let them become your wellness solution.

Maurer E. (18 July 2018). "Improving workplace wellness by focusing on the collective 'we'" (Web Blog Post). Retrieved from https://www.benefitspro.com/2018/07/18/improve-workplace-wellness-by-focusing-on-the-coll/.


Who are Benefits for, Anyway?

Why do employees turn down benefits offered to them by their employers? Continue reading to find out why and how employers can educate them about the benefits that are offered.


With many Americans living paycheck-to-paycheck, U.S. employees have a significant need for financial protection products to secure their income and guard against unplanned medical expenses. However, employees frequently decline these benefits when they are offered at the workplace. Only two-thirds of employees purchase life insurance coverage at work when given the option, while roughly half enroll in disability coverage and less than one-third select critical illness insurance coverage. Why do so many employees choose not to enroll in benefits?

Is this right for me?

Some employees may opt out of nonmedical benefits because they do not believe these offerings are intended for people like them. In a recent report, “Don’t Look Down: Employees’ Understanding of Benefits and Risk,” LIMRA asked employees whether they thought life, disability, and critical illness products were “right for someone like me.”

While a majority of employees feels that life insurance coverage is appropriate for someone like them, they are on the fence about other coverages. Fewer than half believe they need disability insurance and only 36 percent feel they need a critical illness policy.

It is also noteworthy that a large portion of employees respond neutrally or only slightly agree or disagree with these sentiments, which suggests a lot of uncertainty. Given employees’ poor understanding of these benefits, many simply do not know if the coverage is intended for them.

Role of behavioral economics

Behavioral economics reveals that human behavior is highly influenced by social norms, particularly among groups that people perceive to be similar to themselves. In light of this, LIMRA asked employees if they think most people like them own certain insurance products. Their responses indicate that employees feel very little social pressure to enroll in these benefits.

Only 22 percent of employees think most people like them are covered by critical illness insurance, while 47 percent disagree. Similarly, 38 percent disagree that most people like them have disability coverage (versus only 34 percent who agree). Life insurance is the only product where a majority of employees (60 percent) think most others like them have the coverage.

Employees who believe others like them purchase benefits will tend to be influenced by this peer behavior. This could lead them to take a closer look at the information provided about these benefits and possibly enroll.

However, for the larger group of employees who think others like them do not have coverage, social pressure will discourage them from enrolling. These employees will perceive not having coverage to be the “norm” and assume it is safe to opt out, without giving these benefits proper consideration.

Who should purchase benefits?

If employees do not think insurance benefits are right for them, who do they believe these products are intended for?

Of employees who are offered disability insurance at work, only 38 percent recognize that anyone with a job who relies on their income should purchase this coverage. Troublingly, more than 1 in 5 think disability insurance is only for people with specific risk factors, such as having a physical or dangerous job, a family history of cancer, or a current disability.

Similarly, less than half of employees recognize that critical illness insurance is right for anyone. One in five think this coverage is only for people with a family history of cancer or other serious illness, while 15 percent believe the coverage is for people who have personally been diagnosed with a serious health condition.

Employees have a better understanding of life insurance. Eighty percent of employees recognize that life insurance is appropriate for anyone who wants to leave money to their spouse or dependents upon their death. However, some employees still express uncertainly about this or believe life insurance is only for high-risk individuals.

Confusion about who should purchase insurance benefits is contributing to low employee participation in these offerings. To counteract this trend, educating employees to understand how these products apply to their own lives is crucial. By clearly explaining what the products do and providing examples of how anyone could use them, benefit providers can help employees see the relevance of these offerings and help them make more informed financial decisions.

SOURCE:
Laundry, K (12 July 2018). "Who are benefits for, anyway?" [Web Blog Post]. Retrieved from https://www.benefitspro.com/2018/07/12/who-are-benefits-for-anyway/


3 questions to ask about paid leave programs

Paid leave is offered for numerous reasons. Employers want to attract new talent, promote employee well-being and more, but are they asking the right questions regarding the costs of these programs. Keep reading to learn about what questions employers need to be asking.


Employers provide paid time away from work policies for a variety of reasons: to attract and retain talent (responding to employee needs and changing demographics); to be compliant with local, state and federal laws (which are proliferating); and to support general employee well-being (recognizing that time away from work improves productivity and engagement).

While offering paid absence policies delivers value to both employees and the employers, employers recognize the need to balance the amount of available time with the organization’s ability to deliver its products and services.

To help employers balance paid time away drivers, here are three key questions to ask to get a handle on the costs and benefits of paid leave.

1. Do you have a complete picture of the costs associated with your employees’ time away from work?

A challenge for many employers is getting a handle on the cost of time away from work and the related benefits. If an employer cannot quantify the costs of absence, it may not be able to define management strategies or to engage leadership to adopt new initiatives, policies or practices related to paid and unpaid time away programs.

Ninety percent of employers participating in the 2017 Aon Absence Pulse Survey reported they hadn’t yet quantified the cost of absence, and 43 percent of participants identified defining the cost of absence as a top challenge and priority. Though intuitively managers and executives recognize there is an impact when employees are absent from work, particularly when an absence is unscheduled, they struggle to develop concrete and focused strategies to address absence utilization without the ability to measure the current cost and collectively the impact of new management initiatives.

Employers struggle to quantify the cost of absence in the context of productivity loss, including replacement worker costs. According to the Bureau of Labor Statistics in 2017, employers’ cost of productivity loss associated with absenteeism was $225.8 billion, and 9.6 percent of compensation was spent on lost time benefits and overtime.

Employers are expanding their view of absence, recognizing that use of paid and unpaid time away programs are often associated with an employee’s health. As a result, combining data across health and absence programs allows an employer to recognize drivers of absence “work-related value” and define strategies to address not just how to manage the absence benefit, but to target engagement to improve well-being and the organization’s bottom-line.

As an example, musculoskeletal conditions are frequently associated with absence, which is not surprising when 11 percent of the workforce has back pain. It is noteworthy that of those with back pain, 34 percent are obese, 26 percent are hypertensive and 14 percent have mood disorders. The Integrated Benefits Institute reported in 2017 that back pain adds 2.5 days and $688 in wages to absence associated with this condition. It is this type of information pairing that provides employers with the insight to develop strategies to address comprehensive absence.

When absence and health costs are quantified, organizations quickly recognize the impact on the business’s bottom line. As the old saying goes, “we can only manage what we can measure.”

2. What is your talent strategy to improve work-life benefits, inclusive of time off to care for family?

The race for talent is on, and every industry recognizes the huge impact the changing workforce demographics currently has, and will continue to have. The current workforce incorporates five generations, though an Ernst and Young report from 2017 estimates that by 2025 millennials will make up 75 percent of the workforce. As a result, the work-life needs of millennials—and their perspectives around benefits—is driving change, including time away from work policies.

It is worth noting that, per a 2015 Ernst and Young survey, millennial households are two times more likely to have both spouses working. The Pew Research Center reported in 2013 that, among all workers, 47 percent of adults who have a parent 65 years or older are raising a minor child or supporting a grown child. Additionally, a 2016 report from the Center for Work Life Law at the University of California Hastings claimed that 50 percent of all employees expect to provide elder care in the next five years.

In response, employers are expanding paid time off programs for care of family members. The paid family leave continuum often begins with a paid parental policy providing time to bond with a new birth or adoption placement. An elder care policy may follow, and the culmination might be a family care policy covering events like those under the job-protected Family Medical Leave Act. An Aon SpecSelect Survey reported that 94 percent of employers offer some form of paid parental leave in 2017; this is a significant change from 2016 when 62 percent offered this benefit. Two weeks of 100 percent paid parental leave was the norm per Aon’s SpecSelect 2016 Survey, but we are finding that many employers are expanding these programs, offering between 4 to 12 weeks.

Offering paid leave programs on their own may meet immediate needs for both time and financial support, but may be incomplete to help the employee address the full spectrum of issues that could affect success at work. In combination with family care needs—even those associated with a happy event such as a birth—there may be other health, social or financial issues. Employers combining their paid leave programs with a broader well-being strategy deliver greater value, improve engagement and increase productivity.

3. If you’re a multi-state employer, how are you ensuring your sick and family leave policies are compliant across all relevant jurisdictions?

Paid leave is a hot legislative topic lately. Last December saw the enactment of a paid FMLA tax credit pilot program as part of the federal Tax Reform The paid sick leave law club now totals 42 states and myriad municipalities. Both Washington state and Washington, D.C. are ramping up to implement paid family leave laws in 2020, joining the four states and one city that already have some form of paid family or parental leave law.

How are multi-state employers keeping up with this high-stakes evolving environment? The 2017 Pulse Survey saw 70 percent of employers report they are aware they have an employee who is subject to a paid sick leave law. Ten percent of respondents said they did not know if they had anyone subject to such a law. If knowledge is the first step in the process of compliance, deciding on a compliance strategy and then successfully implementing it are surely steps two and three.

With respect to paid sick leave, there are three major compliance options: comply on a jurisdiction-by-jurisdiction level, with as many as 42 different designs and no design more generous than it has to be; comply on a national level with one, most generous design, or meet somewhere in the middle, perhaps with one design for each state where a state- or local-level law is in place, or by grouping jurisdictions with similar designs together to strike a balance between being overly generous and being bogged down by dozens of administrative schemes.

Data analytics can be a key driver in designing a successful compliance strategy—compare your employee census to locations with paid sick leave laws. The ability to track and report on available leave is a requirement in all jurisdictions, and at this point, few if any third-party vendors are administering multi-state paid sick leave.

For paid family leave, the primary policy design issue is how an employer’s FMLA, maternity leave and short-term disability benefits will interact with the various paid family leave laws. So, while there may be fewer employer choices to be made with statutory paid family leave, clear employee communications will be critical to success.

Employers may tackle time away from work program issues individually to meet an immediate need, or collectively as a comprehensive strategy. Such a strategy would include data analytics across health and lost-time programs, absence policies that meet today’s needs for the employer and employee, health and wellness programs targeting modifiable health behaviors, and absence program administration that is aligned to operational goals. The expected outcome for time away from work programs isn’t about the programs themselves: it is about an engaged, productive workforce who delivers superior products/services. How do your programs stack up?

SOURCE:
VanderWerf, S and Arnedt, R (13 July 2018) "3 questions to ask about paid leave programs" [Web Blog Post]. Retrieved from https://www.benefitspro.com/2018/07/05/3-questions-to-ask-about-paid-leave-programs/


Five steps to becoming a trusted retirement plan adviser

Discover creative ways to deliver the best retirement plan to your employees with these five steps in retirement plan advising.


Many trends within the employee benefits industry challenge advisers to think creatively on behalf of their clients. For instance, millennials are more likely to pay off student loans and less likely to contribute to their company’s 401(k) plan. They lose the benefit of compound interest over all those years to retirement, which over decades, can amount to up to 80% of a millennial’s nest egg.

When companies experience low participation rates with new hires, the overall health of the plan will suffer and many of the more highly compensated and key employees may not be able to defer as much as they would like into the plan. Advisers must develop relationships with business owners to establish customized retirement plans that work best for their and their employees’ needs.

When advisers overcome these challenges they expand their client base and move toward success. The following five steps will help retirement plan advisers bring their career to the next level:

Understand the fiduciary requirements and minimize the risk of the employer

Strive to impart knowledge on the employer and the participants to make them confident in their retirement plans. Company owners will feel more comfortable if an adviser helps to reduce the fiduciary risk associated with the creation and ongoing operation of a plan. Advisers can share and even take over most of the fiduciary responsibility with the employer to lessen the pressure. With the right information, a business owner can understand the requirements of the plan and is motivated to establish a 401(k) or other type of plan for the benefit of their employees and overall business objectives.

Know the best plan options for the companies you’re serving

Not every company should have a 401(k) plan. While 401(k) plans may be optimal for large and even small companies, small companies may benefit from other types of plans. Small businesses often operate at a loss or minimal profit for many years before they generate significant profit. As a result, business owners may seek a plan — such as a defined benefit plan — that allows them to contribute more toward their retirement. In some cases, this may more than triple the amount of yearly contributions an employer can make compared to a 401(k) plan. Employers can contribute to a defined benefit plan and take a tax deduction equivalent to the contributions made to the plan.

Understand the tax advantages of retirement plans

Successful plan advisers should understand the tax advantages associated with the chosen retirement plan for both the owners and the participants. Traditional 401(k) plans tend to provide the most benefits to employees with tax-deferred contributions. On the other hand, small company owners can benefit from the tax advantages of properly designed cash balance or defined benefit plans. These frequently overlooked plans enable employers to deduct the cost of the company’s plan from their taxable income to secure tax savings.

Employee benefit advisers must have this foundational understanding of the tax advantages to successfully serve their clients. Partner with a retirement company record-keeper and a third-party administrator to learn the details for each option.

Discover profitable prospects among small companies too

Many employee benefit advisers in search of success avoid talking to small companies. However, these small companies have significant potential and are vital to success in an otherwise crowded market. Small companies, even with only three to five employees, are great to work with, especially if you help them establish a defined benefit plan, and if it’s the best plan for them. Through these plans, retirement plan advisers can receive the fees needed to provide the service because the company is making larger contributions than to a profit sharing or 401(k) plan.

Target underserved, yet vibrant markets

According to a recent study from the Pew Charitable Trusts, only 53% of small to midsize companies have retirement plans in place. Owners may think they are too small to be able to afford and monitor a program. These businesses are important prospects to pursue. Make yourself known to these companies and show the employer that there is a retirement plan that will work for their employees and company, no matter the size. Explain what program the company can implement and easily administer with your guidance.

Small companies provide great opportunities for advisers to become successful and differentiate themselves from other industry professionals. Keep in mind that these small companies are also more dependent on advisers because of the costs and risk associated with retirement plans. They will require more frequent contact for advice and personalized service. If you do not have the right expertise in the beginning, partner with someone in your office or a TPA until you have the credentials and knowledge to advise small companies on your own.

SOURCE:
Weintraub, M (19 June 2018) "Five steps to becoming a trusted retirement plan adviser" [Web Blog Post]. Retrieved from https://www.employeebenefitadviser.com/opinion/five-steps-to-becoming-a-trusted-retirement-plan-adviser?brief=00000152-146e-d1cc-a5fa-7cff8fee0000


7 wellness program ideas you may want to steal

Need more energy and excitement in your office? Keep your employees healthy and motivated with these fun wellness program ideas.


Building your own workplace wellness program takes work–and time–but it’s worth it.

“It’s an investment we need to make,” Jennifer Bartlett, HR director at Griffin Communication, told a group of benefits managers during a session at the Human Resource Executive Health and Benefits Leadership Conference. “We want [employees] to be healthy and happy, and if they’re healthy and happy they’ll be more productive.”

Bartlett shared her experiences building, and (continually) tweaking, a wellness program at her company–a multimedia company running TV outlets across Oklahoma –over the last seven years. “If there was a contest or challenge we’ve done it,” she said, noting there have been some failed ventures.

“We got into wellness because we wanted to reduce health costs, but that’s not why we do it today,” she said. “We do it today because employees like it and it increases morale and engagement.”

Though Griffin Communication's wellness program is extensive and covers more than this list, here are some components of it that's working out well that your company might want to steal:

  1. Fitbit challenge. Yes, fit bits can make a difference, Bartlett said. The way she implemented a program was to have a handful of goals and different levels as not everyone is at the same pace-some might walk 20,000 steps in a day, while someone else might strive for 5,000. There are also competition and rewards attached. At Griffin Communications, the company purchased a number of Fitbits, then sold them to its employees for half the cost.
  2. Race entry. Griffin tries to get its employees moving by being supportive of their fitness goals. If an employee wants to participate in a race-whether walking or running a 5k or even a marathon, it will reimburse them up to $50 one time.
  3. Wellness pantry. This idea, Bartlett said, was "more popular than I ever could have imagined." Bartlett stocks up the fridge and pantry in the company's kitchen with healthy food options. Employees then pay whole sale the price of the food, so it's a cheap option for them to instead of hitting the vending machine. "Employees can pay 25 cents for a bottled water or $1.50 for a soda from the machine."
  4. Gym membership. "We don't have an onsite workout facility, but we offer 50 percent reimbursement of (employees') gym membership cost up to a max of 200 per year," she said. The company also reimburses employees for fitness classes, such as yoga.
  5. Biggest Loser contest. Though this contest isn't always popular among companies, a Biggest Loser-type competition- in which employees compete to lose the most weight-worked out well at Griffin. Plus, Bartlett said, "this doesn't cost us anything because the employee buys in $10 to do it." She also insisted the company is sensitive to employees. For example, they only share percentages of weight loss instead of sharing how much each worker weights.
  6. "Project Zero" contest. This is a program pretty much everyone can use: Its aim is to avoid gaining the dreaded holiday wights. The contest runs from early to mid- November through the first of the year. "Participants will weigh in the first and last day of the contest," Bartlett said. "The goal is to not gain weight during the holidays-we're not trying to get people to lose weight but we're just to not get them to not eat that third piece of pie."
  7. Corporate challenges. Nothing both builds camaraderie and encourages fitness like a team sports or company field day. Bartlett said that employees have basically taken this idea and run with it themselves- coming up with fun ideas throughout the year.

SOURCE:
Mayer K (14 June 2018) "7 wellness program ideas you may want to steal" [Web Blog Post]. Retrieved from https://www.benefitspro.com/2015/10/10/7-wellness-program-ideas-you-may-want-to-steal/


Lack Of Insurance Exposes Blind Spots In Vision Care

Vision problems are typically not life threatening but can impact the success of your everyday life. Vision care is a significant benefit that could change the lives of many families.


Every day, a school bus drops off as many as 45 children at a community eye clinic on Chicago’s South Side. Many of them are referred to the clinic after failing vision screenings at their public schools.

Clinicians and students from the Illinois College of Optometry give the children comprehensive eye exams, which feature refraction tests to determine a correct prescription for eyeglasses and dilation of their pupils to examine their eyes, including the optic nerve and retina.

No family pays out-of-pocket for the exam. The program bills insurance if the children have coverage, but about a third are uninsured. Operated in partnership with Chicago public schools, the program annually serves up to 7,000 children from birth through high school.

“Many of the kids we’re serving fall through the cracks,” said Dr. Sandra Block, a professor of optometry at the Illinois College of Optometry and medical director of the school-based vision clinics program. Many are low-income Hispanic and African-American children whose parents may not speak English or are immigrants who are not in the country legally.

Falling through the cracks is not an uncommon problem when it comes to vision care. According to a 2016 report from the National Academies of Sciences, Engineering and Medicine, as many as 16 million people in the United States have undiagnosed or uncorrected “refractive” errors that could be fixed with eyeglasses, contact lenses or surgery. And while insurance coverage for eye exams and corrective lenses clearly has improved, significant gaps remain.

The national academies’ report noted that impaired vision affects how people experience their world, including normal communication and social activities, independence and mobility. Not seeing clearly can hamper children’s academic achievement, social development and long-term health.

But when people must choose, vision care may lose out to more pressing medical concerns, said Block, who was on the committee that developed the report.

“Vision issues are not life-threatening,” she said. “People get through their day knowing they can’t see as well as they’d like.”

Insurance can make regular eye exams, glasses and treatment for medical problems such as cataracts more accessible and affordable. But comprehensive vision coverage is often achieved only through a patchwork of plans.

The Medicare program that provides coverage for millions of Americans age 65 and older doesn’t include routine eye exams, refraction testing or eyeglasses. Some tests are covered if you’re at high risk for a condition such as glaucoma, for example. And if you develop a vision-related medical condition such as cataracts, the program will cover your medical care.

But if you’re just a normal 70-year-old and you want to get your eyes examined, the program won’t cover it, said Dr. David Glasser, an ophthalmologist in Columbia, Md., who is a clinical spokesman for the American Academy of Ophthalmology. If you make an appointment because you’re experiencing troubling symptoms and get measured for eyeglasses while there, you’ll likely be charged anywhere from about $30 to $75, Glasser said.

There are a few exceptions. Medicare will pay for one pair of glasses or contact lenses following cataract surgery, for example. Some Medicare Advantage plans offer vision care.

Many commercial health insurance plans also exclude routine vision care from their coverage. Employers may offer workers a separate vision plan to fill in the gaps.

VSP Vision Care provides vision care plans to 60,000 employers and other clients, said Kate Renwick-Espinosa, the organization’s president. A typical plan provides coverage for a comprehensive eye exam once a year and an allowance toward standard eyeglasses or contact lenses, sometimes with a copayment. Also, individuals seeking plans make up a growing part of their business, she said.

Vision coverage for kids improved under the Affordable Care Act. The law requires most plans sold on the individual and small-group market to offer vision benefits for children younger than 19. That generally means that those plans cover a comprehensive eye exam, including refraction, every year, as well as a pair of glasses or contact lenses.

But since pediatric eye exams aren’t considered preventive care that must be covered without charging people anything out-of-pocket under the ACA, they’re subject to copays and the deductible.

Medicaid programs for low-income people also typically cover vision benefits for children and sometimes for adults as well, said Dr. Christopher Quinn, president of the American Optometric Association, a professional group.

But coverage alone isn’t enough. To bring down the number of people with undiagnosed or uncorrected vision, education is key to helping people understand the importance of eye health in maintaining good vision. Just as important, it can also reduce the impact of chronic conditions such as diabetes, the national academies’ report found.

“All health care providers need to at least ask vision questions when providing primary care,” said Block.

SOURCE:
Andrews M (13 JUNE 2018). "Lack Of Insurance Exposes Blind Spots In Vision Care" [Web Blog Post]. Retrieved from https://khn.org/news/lack-of-insurance-exposes-blind-spots-in-vision-care/


Viewpoint: Coaching Your Employees to Finish Strong as They Near Retirement

10,000 people a day are retiring. Help your employees transition into retirement with these important strategies. ​


Baby Boomers are beginning to retire in large numbers. AARP says 10,000 people a day are retiring from work. Most companies have no formal program to aid these employees in this transition. Although we often have extensive onboarding programs, little to nothing is done when an employee is ending his or her career, except a goodbye party.

For many people, upcoming retirement means coasting until the day they are done. Dave was a senior-level manager who announced his retirement one year in advance. The problem was that Dave then became "retired on the job." He stopped innovating. He stopped moving new ideas forward. He avoided conflict by ignoring problems. He no longer aggressively led his team.

Dave had been very successful in his career but he ended poorly, so that was how everyone remembered him. His team suffered poor morale because its members felt they were stuck until Dave left his position. That is a problem for the whole company.

Help retiring employees to end strong at your company. Instead of letting employees coast and drain the company coffers, HR can support retiring workers as they end their careers in the best way possible, fully contributing up until the last day.

Some key strategies include:

  • Creating a planning-to-retire educational program.HR should develop a workshop to show employees how to plan out their future, paying special consideration to how they will handle all the free time they will have once they leave the company. The course can cover financial planning, too. The employee will be grateful for this assistance.
  • Coaching the employee's manager.Managers of departing employees need instruction on how to support someone leaving the group. The formal coaching should offer proven strategies to keep the employee engaged until his or her last day. The supervisor should encourage the employee to complete as many key projects as possible and accept the responsibility to not let the employee become retired on the job.
  • Documenting their knowledge.As many Baby Boomers walk out the door, their depth of experience and insight depart with them. Companies should have these employees document their knowledge by creating a training manual or by adding pages to the organization's intranet so other employees can learn from these folks.
  • Training a new employee.Ideally, the organization should promote or hire a replacement and have the departing employee train the new person. Having a two- to three-week training period helps the new employee get up to speed and be more productive, more quickly. 
  • Offering a "bridge job."Finding talented workers to replace departing Baby Boomers will become harder to do in our tight labor market. Developing a transitional or bridge job where the employee remains at work on a part-time basis may allow the company to avoid the quest for talent that is often not available. Baby Boomers want more flexibility and fewer work hours at the end of their career. In fact, 72 percent say they plan to work in their retirement. Annette was an IT specialist who wanted to leave the energy utility she worked for. The HR department was under the gun to deliver a new human resource information system and asked her to continue working three days a week with the ability to take more unpaid vacations. This new bridge job kept her in her role for 18 months until the big project was completed.

Final days may be a bittersweet time for employees to say goodbye to their co-workers, friends and the company itself. Having a supportive send-off is a great policy to ensure that everyone leaves on a positive note and will speak highly of your organization after the departure.

 

SOURCE:
Ryan R (4 June 2018) "Viewpoint: Coaching Your Employees to Finish Strong as They Near Retirement" [Web Blog Post]. Retrieved from https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/Viewpoint-Coaching-Your-Employees-on-Finishing-Strong-As-They-Retire-.aspx?_ga=2.37756515.1310386699.1527610160-238825258.1527610159


Employee benefit satisfaction has direct relation to job fulfillment

New reports say that employees would sacrifice pay increases for better benefits. Heres some tips on how to keep your employees satisfied.


A link between the satisfaction workers feel about their benefits — both employment based and voluntary — has a direct relation with retention opportunities for employers.

Eight in 10 employees who ranked their benefits satisfaction as extremely or very high also ranked job satisfaction as extremely or very high, according to Employee Benefit Research Institute’s recent 2017 Health and Workplace Benefits Survey. Additionally, nearly two-thirds of respondents who ranked benefits satisfaction as extremely or very high ranked their morel as excellent or very good.

“It is important for employers to understand that benefits continue to be valued by employees,” says Paul Fronstin, director of the health research and education program at EBRI. “Health insurance, retirement plans, dental, vision and life insurance continue to be highly important when making job change decisions.”

In fact, the survey finds that more than four in 10 respondents say they would forgo a wage increase to receive an increase in their work-life balance benefits, and nearly two in 10 state a preference for more health benefits and lower wages.

Employees continue to indicate benefits play a key role in whether to remain at a job or choose a new job. Since 2013, health insurance consistently remains one of the top benefits that employees consider in assessing a job change.

Last year, 83% say health insurance is very or extremely important in deciding whether to stay in or change jobs. A retirement savings plan is also one of the critical benefits, with 73% indicating it is extremely or very important in determining whether to stay in or switch jobs.

Although employees say they are generally satisfied with the employee benefits provide today, there is a growing concern benefit programs might start to dwindle. When asked, only 19% of respondents say they are extremely confident in what will be provided will be similar to what they have now in three years.

Other challenges remain

“The challenge is how employers can continue to provide the strong employee benefits package that employees want and need, while still controlling the costs of these benefits, particularly healthcare,” Fronstin notes.

Employee education on benefit offerings could use some beefing up. According to the study a little more than one-half (52%) of employees say they understand their health benefits and 43% indicate they understand their non-health benefits very/extremely well.

Some of this limited understanding of benefits may come from the lack — or perceived lack — of benefit educational opportunities that employees are receiving from their employer, according to the study.

Nearly one-third (31%) of employees indicate that their employer or benefits company provides no education or advice on benefits. Only 39% state that their employer provides education on how health insurance works, 24% say that their employer provides education on how a health savings account works, and 28% confirm that their employer offers education on how to invest money in their retirement plan.

In any case, Fronstin adds, “as employers weigh the future of benefits, they should consider that health insurance consistently remains one of the top benefits that employees consider in assessing a job change, with retirement savings plan also viewed as a critical benefit.”

SOURCE:
Otto N (4 June 2018) "Employee benefit satisfaction has direct relation to job fulfillment" [Web Blog Post]. Retrieved from https://www.benefitnews.com/news/employee-benefit-satisfaction-has-direct-relation-to-job-fulfillment


4 perks to make your employees' lives easier and less stressful

Recruit top talent with ease and confidence when considering these tips on attractive, creative and innovative employment perks.


A 2016 survey from Glassdoor found that 57 percent of people looking for jobs said benefits and perks are among their top considerations when weighing offers. So how can a company stack the deck in its favor when recruiting top talent? Although some companies limit their benefits packages to traditional offerings such as health insurance, 401Ks and paid time off, a today’s forward-thinking employers know they need to find more creative ways to offer benefits that make a genuine difference in employees’ day-to-day work and personal lives.

As competition for employees intensifies, the race to improve employer-based services is likely to result in better options for employees. Unconventional benefits options come in many shapes and forms, but they share one thing in common: the goal of saving time for employees, reducing their stress, and ultimately improving their health and satisfaction at work.

All other things being equal, companies that offer innovative perks that speak to the well-being of their employees are more likely to attract and retain the top talent in their field. Here are a few such perks to consider.

Expectant-parent counseling

You’ve thrown the baby shower, cut the cake, helped carry staff gifts to the car—and you’ve explained the company’s parental leave policy in detail. As you wave Julie from accounting off with best wishes, you’re confident she’ll come back to her desk in a few months’ time.

But the truth is that 43 percent of women who have babies leave the workforce permanently within a matter of months. Many say it’s because they don’t have adequate support at home to enable them to resume their careers. That is why companies like Reddit and Slack use a service called Lucy that provides expectant employees help before, during, and after parental leave, including 24/7 messaging and one-on-one sessions that can be done in the home or online.

As Reddit VP of People Katelin Holloway put it, “It’s not enough to simply offer parental leave; every child and family is different and has independent needs.” By helping expectant parents find resources that meet their specific needs, you’re making an investment in your workforce that pays enormous dividends in retention, productivity, and morale.

Caregiving support

A Gallup survey revealed more than 1 in 6 full-time or part-time American workers has difficulty balancing caring for elderly parents with their work commitments. This results in decreased productivity and frequent leaves of absence. Companies can help their employees cope and stay engaged with their work by providing concierge services that offer amenities such as taking elderly parents to doctor’s appointments and eldercare coaching when choosing between assisted living options.

To help reduce stress (and retain highly specialized employees), take a cue from companies like Microsoft and Facebook, which provide caregiver paid-leave programs to help employees care for ailing family members or sick relatives.

Dry cleaning at work

Sometimes it’s the little things that save time during the workday that can push the needle in your favor as a potential employer. It may sound trivial, but company-provided dry cleaning is a perk that’s proving to be a big draw in workplaces from Wall Street to Silicon Valley. Service providers pick up employees’ laundry or dry cleaning items from work and return them to a designated employer closet in their office building—one less errand, and no more lost tickets. “People have lives to live, so I try to make it easy for them to deal with any of those personal errands that could take up time for them,” said Experian CEO Craig Boundy, speaking about his company’s employee benefits programs in an interview with the The Orange County Register.

Car maintenance and service

According to the U.S. Bureau of Labor Statistics, the average American household owns 1.9 vehicles and spends around 1.5 percent of its annual income on auto maintenance and repairs. Cars are a significant investment for most of us, so the more you can help potential employees save time and money on maintaining their vehicles, the more tempting you’ll become as an employer. Growing numbers of innovative companies provide car repair services to help employees save money, find the best quality mechanics, and reduce stress associated with the entire process.

Some firms also offer on-site car wash services, giving employees peace of mind and a positive outlook as they drive home after work. Several big Silicon Valley corporations —including eBay, SanDisk, Cisco, and Oracle—use BoosterFuels to fill employees’ gas tanks while they’re at work. It saves employees time and protects them from potential accidents or robberies at gas stations.

SOURCE:
Weiss Y (31 May 2018) "4 perks to make your employees' lives easier and less stressful" Web Blog Post]. Retrieved from https://www.benefitspro.com/2018/05/11/4-perks-to-make-your-employees-lives-easier-and-le/


Managing Benefits for High-Turnover Employers Is Different. Here's How to Cope

High turnover employers who are constantly hiring and firing employees need to feel comfortable with their plans. These tips will help direct you on how to deal with rapid change.


The rising costs and increased regulation of employee benefits have become a distraction for even the most smoothly running U.S. employers.

For organizations characterized by constant workforce turnover, those distractions can prove detrimental to their bottom line.

Take for instance, the retailer that routinely adds 25 new hires a month. Or the restaurant group that holds semi-monthly training orientations to remain adequately staffed for each shift. Or the manufacturing company that hires and fires up to 40 people a week to keep up with the production schedules.

In the mad scramble for personnel in these high turnover industries, it’s common to see benefits get lost in the shuffle. Mid- and large market employers, by sheer volume alone, are even more susceptible to the pains of maintaining a compliant benefits program in the midst of persistent staff turnover.

If your book of business includes employers that fit this criteria, the following practices will serve you (and, most importantly, your client) well.

  1. Audit, Audit, Audit

Conducting frequent, meticulous audits of the insurance carrier bills and invoices is critically important for employers with high turnover.

At least once a month, a representative of the company, or the broker, needs to cross-reference the most recent carrier invoice with payroll. How many employees listed on the invoice have been terminated in the last thirty days? Are there any employees on payroll being deducted for coverage that do not appear on the invoice? For cost and compliance purposes, it is imperative that the employer knows the answer to both questions each and every month.

If bills from insurance companies are not being actively audited, it is probable that the employer is paying for coverage that they shouldn’t be. For ancillary coverages like vision or basic life insurance, an incorrect cost likely won’t break the bank. But if medical carrier bills are left unmonitored, the premium dollars for ex-employees can add up to thousands, even tens of thousands, of dollars each month depending on the size of the employer. Bill and payroll audits also add a second layer of protection for newly-hired employees. Let’s say a new hire elects his or her benefits after satisfying the company’s 60 day waiting period. The coverage effective date should be April 1st, but the employer or broker never enrolled them in the carrier systems.

April 1 rolls around and the employee presumes they have medical coverage. A month later, they have an accident that forces them to seek emergency treatment. At that point, the individual is told that the insurance company has no record of them being an active insured. Had the employer reviewed payroll and the April carrier bill, they would have avoided a potentially major compliance and coverage issue – not to mention a scary situation for their employee.

  1. Ongoing Communication

Ensuring that bill/payroll audits and other necessary managerial tasks are performed is a two-way street, though.

Today’s employers are not alone in the often tumultuous administration of employee benefits. Brokers, consultants and advisors have stepped in over the years to relieve their client organizations of the day-to-day benefits responsibilities. However, even the most involved third parties can’t manage the entire benefits program from end to end. An enduring communication stream must exist between client and advisor.

For employers with recurrent staff turnover, communication becomes even more critical. As employees come and go, these organizations must lean on their brokers for administrative counsel. Enrollments, terminations, eligibility, troubleshooting issues, carrier negotiations/interactions and the countless other administrative duties of a benefits advisor have become too burdensome for employers to take on alone.

Large, high-turnover companies are especially reliant on broker partnerships to ensure that the daily benefits tasks aren’t impeding their core business objectives.

Modern benefits advisors should understand their clients’ businesses inside and out and view themselves as an extension of the team. What are their organizational objectives? What are their three and five-year plans? How does the employee benefit program factor into those plans? And let’s face it… high turnover employers typically translate into higher maintenance clients. They require a greater level of administrative support than companies characterized by long employee tenure.

With more change comes more responsibility, and with more responsibility comes the need for more frequent communication. A dutiful broker should set the expectation that they will be available every day to handle any issue for these high-turnover clients.

  1. Benefit Administration Technology

The evolving role of technology in the administration of benefits is a saving grace to high-turnover employers. Ben-Admin Systems (BAS) have simplified every clerical process for companies of all sizes.

At the low-functionality end, BAS can serve as editable cloud-based storage houses for employee demographic info and benefits data. At the high end, BAS allows for an employee-user experience where benefit elections and terminations are integrated directly with the insurance or payroll companies at the click of a button. In either case, the emergence of BAS options has streamlined administrative processes, while greatly reducing the potential for human error. Cumbersome tasks like payroll audits are now systematized and can be completed in a matter of minutes.

Successfully pairing an employer with a ben-admin system requires strategic consideration and consultation. Despite what the system architects might tell you, these platforms are not “one size fits all.”

Let’s profile a 3,000 employee retailer, as an example: The group has 125 locations nationwide, with approximately 24 people employed at each store. 75% of the workforce is between the ages of 16 and 35, with the remaining 25% scattered in between 36 and 60 years old. 40% of the staff are considered part-time employees based on weekly hours worked, leaving 1,800 benefit eligible employees. The average monthly staff-turnover across the organization is 85 employees – meaning that the rate of annual turnover is 34%.

With all these moving parts, the retailer requires a technological solution to help manage their ever-changing business. The retailer needs data-housing capability to administer their benefits and payroll as a single large entity, rather than 125 separate ones. It needs payroll integration with insurance carriers so that their up-to-date employment numbers accurately reflect the $325,000 in premiums they pay each month for coverage. It needs a customized employee-user interface where their 1,800 benefit eligibles can enroll in or modify their elections. It also needs a solution capable of maintaining a compliant benefits program. COBRA, FMLA, Section 125, ERISA, Form 5500… – every government regulated standard for an employer of this size should be addressed within their ben-admin system.

Like any major business decision, this technology piece needs to be implemented thoughtfully. If selected and negotiated with precision, the right ben-admin system is capable of effectively managing even the most disjointed high-turnover employers.

SOURCE:
Odishoo S (31 May 2018) "Managing Benefits for High-Turnover Employers Is Different. Here's How to Cope" [Web Blog Post]. Retrieved from https://www.thinkadvisor.com/2018/05/04/managing-benefits-for-high-turnover-employers-is-d/?slreturn=20180431130207