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


Five Practical Ways to Support Mental Well-being at Work

Mental well-being impacts engagement, absenteeism and productivity. Discover how help make the workplace atmosphere and environment more pleasant with these tricks.


The American Institute of Stress reports that stress is the nation’s top health problem. This makes sense, as mental capacity is highly valued in the workplace but can also be highly vulnerable. Today’s workplace, with technology, fast-paced growth and decreased resources, can contribute to increased stress.

Companies should value the mental health of their employees as a top asset and fiercely protect it. Mental well-being impacts engagement, presenteeism, absenteeism and productivity — all of which impact businesses bottom lines. More importantly, supporting and protecting the mental health of your employees is the right thing to do.

Here are five best practices to support mental health in the workplace.

  1. Normalize the conversation.

Top-down support of mental health is crucial in creating an open dialogue, as is an open-door policy. Senior leaders should participate in the conversation about mental wellbeing to show buy in. Normalizing the occurrence of a grief reaction or stress disorder can insure that your employees seek help when it happens to them.

Establishing mental health champions within your organization is another way to encourage a healthy dialogue. People with mental health conditions who want to help others are great candidates for this role.

Use awareness days that focus on stress and mental health as external nudges to educate staff about these important issues. Importantly, remind staff that a diversity of perspectives, including those with lived mental health experiences, are valued and encouraged in inclusive environments.

  1. Implement strong policies and procedures.

Disclosure can help an employee seek the appropriate resources and care before conditions worsen, so having proper policies and procedures in place are important in removing barriers to disclose.

This includes protection against discrimination, which is usually a top concern for employees, as well as providing appropriate workplace accommodations. Ensure managers are aware of key resources, like employee assistance programs, and maintain confidentiality when an employee discloses information.

Beyond this, educate employees on policies, procedures and proper protocols to increase employee awareness. Here’s a tip: Repeat key messages and tailor your communications to better reach your staff.

  1. Prevention is better than cure.

It’s essential to remember that anyone is susceptible to stress and a resulting decline in their mental health, whether a preexisting condition exists or not. Big life events like having a baby or losing a loved one and every day struggles like money worries, relationship issues or work-related stress can cause or aggravate mental health conditions to the point of interfering with work. 

Mental wellness sessions or work/life balance programs can help. Bring in an expert and talk to your staff about how to safeguard their own mental health, build resilience and recognize signs of distress in others.

  1. Tailor your benefits package to support mental wellbeing.

Choose a major medical plan that gives employees access to quality mental health specialists in network, as these costs can add up significantly. Helping employees have access to and triage the right specialist support is crucial in managing conditions.

EAPs can act as a first line of defense for a wide range of problems – from money and relationship worries to support for working caregivers. They provide both practical and emotional support for employees through confidential counseling and can help prevent issues from escalating and impacting productivity. These programs are often offered as part of a major medical or disability plan, so your company may already have access to them.

Money worries can also take an emotional toll on wellbeing. In fact, financial concerns were the leading cause of stress across all generations in a recent consumer study conducted by my company, Unum.

Help your employees establish a strong financial foundation by offering financially-focused benefits, like life and disability insurance, retirement savings options and supplemental health benefits that can close the rising financial gap in medical plans.

If your budget doesn’t cover these benefits, consider offering them on a voluntary basis. Access to financial protection benefits are more affordable when offered through the workplace, even if the employee picks up the cost.

Flexible hours or remote working options can also help employees schedule their work days when they’re feeling most productive. This can help reduce presenteeism for mental ill-health, and it also signals to employees that you’re supportive of a healthy work/life balance.

  1. Encourage self-care.

Self-care plays a critical role in overall wellbeing. Encourage employees to do small tasks that’ll help them build resilience over time.

The basics like getting plenty of sleep, eating healthy, drinking water, and exercising are foundational in overall wellbeing.

Beyond these staples, developing appropriate time management and work/life balance skills are also important. Delegating and collaborating are also key to ensure healthy work behaviors which also decrease stress.

While technology and our always-on culture make it hard to disconnect, encourage employees to set device off-times so they can fully recharge before the next day. And most important, model this behavior to your staff and limit after hours work and emails.

Having a holistic mental well-being strategy that includes prevention, intervention and protection is essential for unlocking a workforce’s true potential.

 

SOURCE:
Jackson M (4 June 2018) "Five Practical Ways to Support Mental Well-being at Work" [Web Blog Post]. Retrieved from http://www.workforce.com/2018/05/18/five-practical-ways-support-mental-well-work/


How to get the most out of a day off

Time off is necessary but planning an extended vacation may be stressful. These pointers will help show you how micro-vacations can positively benefit your lifestyle.


The idea of “vacation” often conjures up thoughts of trips to faraway lands. While it’s true that big trips can be fun and even refreshing, they can also take a lot of time, energy, and money. A lot of people feel exhausted just thinking about planning a vacation—not just navigating personal commitments and school breaks, but deciding how to delegate major projects or put work on hold, just so they can have a stress-free holiday. Because of this, some might put off their time away, figuring they’ll get to it when their schedule isn’t so demanding, only to discover at the end of the year that they haven’t used up their paid time off.

In my experience as a time management coach and as a business owner, I’ve found that vacations don’t have to be big to be significant to your health and happiness. In fact, I’ve been experimenting with the idea of taking “micro-vacations” on a frequent basis, usually every other week. These small bits of time off can increase my sense of happiness and the feeling of having “room to breathe.”

From my point of view, micro-vacations are times off that require you to use a day or less of vacation time. Because of their shorter duration, they typically require less effort to plan. And micro-vacations usually don’t require you to coordinate others taking care of your work while you’re gone. Because of these benefits, micro-vacations can happen more frequently throughout the year, which allows you to recharge before you’re feeling burnt out.

If you’re feeling like you need a break from the day-to-day but can’t find the time for an extended vacation, here are four ways to add micro-vacations to your life.

Weekend trips.Instead of limiting vacations to week-long adventures, consider a two- to three-day trip to someplace local. I’m blessed to live in Michigan, and one of my favorite weekend trips is to drive to Lake Michigan for some time in a little rented cottage on the shore or to drive up north to a state park. Especially if you live in an urban area, traveling even a few hours can make you feel like you’re in a different world.

To make the trip as refreshing as possible, consider taking time off on Friday so you can wrap up packing, get to your destination, and do a few things before calling it a night. That still leaves you with two days to explore the area. If you get home by dinnertime on Sunday, you can unpack and get the house in order before your workweek starts again.

There may be a few more e-mails than normal to process on Monday, but other than that, your micro-vacation shouldn’t create any big work pileups.

Margin for personal to-do items.Sometimes getting the smallest things done can make you feel fantastic. Consider taking an afternoon—or even a full day—to take an unrushed approach to all of the nonwork tasks that you really want to do but struggle to find time to do. For example, think of those appointments like getting your hair cut, nails done, oil changed, or doctor visits. You know that you should get these taken care of but finding the time is difficult with your normal schedule.

Or perhaps you want to take the time to do items that you never seem to get to, like picking out patio furniture, unpacking the remaining boxes in the guest room, or setting up your retirement account. You technically could get these kinds of items done on a weeknight or over the weekend. But if you’re consistently finding that you’re not and you have the vacation time, use it to lift some of the weight from the nagging undone items list.

Shorter days for socialization.As individuals get older and particularly after they get married, there tends to be a reduction in how much time they spend with friends. One way to find time for friends without feeling like you’re sacrificing your family time is to take an hour or two off in a day to meet a friend for lunch or to get together with friends before heading home. If you’re allowed to split up your vacation time in these small increments, a single vacation day could easily give you four opportunities to connect with friends who you otherwise might not see at all.

If you struggle to have an uninterrupted conversation with your spouse because your kids are always around, a similar strategy can be helpful. Find days when one or both of you can take a little time off to be together. An extra hour or two will barely make a difference at work but could make a massive impact on the quality of your relationship.

Remote days for decompression. Many offices offer remote working options for some or all of the week. If that’s offered and working remotely is conducive to your work style and your tasks, take advantage of that option.

Working remotely is not technically a micro-vacation, but it can often feel like one. (Please still do your work—I don’t want to get in trouble here!) If you have a commute of an hour or more each way, not having to commute can add back in two or more hours to your life that can be used for those personal tasks or social times mentioned above.

Also, for individuals who work in offices that are loud, lack windows, or where drive-by meetings are common, working remotely can feel like a welcome respite. Plus, you’re likely to get more done. A picturesque location can also give you a new sense of calm as you approach stressful projects. I find that if I’m working in a beautiful setting, like by a lake, it almost feels as good as a vacation. My surroundings have a massive impact on how I feel.

Instead of seeing “vacation” as a large event once or twice a year, consider integrating in micro-vacations into your life on a regular basis. By giving yourself permission to take time for yourself, you can increase your sense of ease with your time.

SOURCE:
Saunders E (28 May 2018). [Web Blog Post]. Retrieved from address https://hbr.org/2018/05/how-to-get-the-most-out-of-a-day-off


Organization for Your Business: Top Tips for Corporate HR

 

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How to Address Operational Challenges of Your Organization With Enterprise Mobility

Large-scale enterprises have a few things in common. A large enterprise has its business footprint across geographies. It employs a workforce representing diverse cultures, languages, and age groups and complies with numerous local laws. The complexities multiply when an enterprise has to manage multiple business units, branches, and teams. Taking speedy decisions gets difficult for CIOs due to the sheer size and complexity of the enterprise. A slight miscalculation or business IT alignment (BITA) misstep results in adverse, enterprise-wide impact, financial losses, and reputation damage. Today's enterprises have to tackle some new difficulties too. Your organisation, perhaps, is no exception.

Difficulties range from changing regulatory environment, disruptive competition from start-ups, and rising expectations of the digitally empowered consumers. Given these realities, the only way an enterprise can take these challenges head-on is by embracing digitalisation. The advancements in technology have mandated that companies have 'digital' in their business DNA. For instance, mobility, one of the key pillars of digitalisation, can be harnessed to achieve productivity and efficiency goals while delivering a seamless user experience. A few forward-thinking organisations have succeeded in delivering great user experience by making their internal-only processes available to customers.

The self-service portals by financial services and e-commerce players, for instance, provide a wider choice to customers and also reduce the operational strain on these organisations. Let's explore how digitalisation can yield greater operational efficiencies. One time-consuming activity commonly found across departments of a large enterprise is report generation. From accounts to HR to sales to warehousing to manufacturing-nobody loves it but does it, nevertheless. Report generation hampers productivity and clogs network bandwidth-these reports are shared with everyone as email attachments. At another level, it also makes life difficult for the analytics teams who have to make sense of massive unstructured data.

Providing relevant and well-designed app dashboards to every person may nullify these issues in one clean swipe. Sharing reports can merely be app based comments without having to send email attachments. The organisation can accrue huge time savings and free up its valuable resources for productive assignments. The corporate HR is supposed to play an empowering role. However, burdened by operational difficulties, the HR often struggles to turn its programmes effective. Take an example of on-boarding of new recruits and induction training. Given the multi-geographic nature of a large organisation, it is challenging (and expensive) to conduct onboarding and training sessions across time zones and locations. Ensuring that every new recruit attends these sessions is another challenge. Measuring the effectiveness of training-whether the employee has fully grasped the training content or not-is yet another difficulty. With the help of a modern, container app architecture, you can address these issues effectively.

—entrepreneur.com