New Research: Employers Shifting Benefits

New Research: Employers Shifting Benefits

Despite the fact organizations are facing rising health care costs, many employers are directing more of their financial resources toward wellness and health benefits, according to new research conducted by the Society for Human Resource Management (SHRM). However, this shift comes at a price. Evren Esen, director of SHRM’s Survey Programs, pointed out in a media statement that as health benefits increase, other perks are being cut. For example, the 2014 SHRM Employee Benefits Survey shows a trend toward decreasing employer provided financial and compensation benefits such as tuition assistance, dependent care flexible spending accounts, and executive incentive bonus plans. Health Benefits Remain Key The 2014 SHRM Employee Benefits Survey, sponsored by Colonial Life & Accident Insurance Company, queried 510 randomly selected HR professionals about 300 benefits and found that health benefits remain of prime importance – 98% polled offer some type of health care coverage to their full-time employees. According …

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Unrecognized, Untreated Depression in Workers Impacts Productivity

Unrecognized, Untreated Depression in Workers Impacts Productivity

Depression, a complex condition marked by changes in thinking, mood or behavior, is 1 of the most common mental disorders in the U.S., affecting people of all ages and socioeconomic groups. It is known to reduce worker productivity, but the symptoms of depression aren’t always recognized, much less treated. The personal toll on employees can be significant and the economic consequences on organizations add up, too. Data from the Centers for Disease Control and Prevention (CDC) show depression results in about 200 million lost workdays each year, at a cost to employers of $17 to $44 billion. On average, people with depression miss 4.8 workdays and suffer 11.5 days of reduced productivity during a 3-month period. In addition, major depression carries the heaviest burden of disability of all mental and behavioral disorders, according to the World Health Organization. Fortunately, even those with the most severe depression frequently respond well to a variety of …

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