Does Your Company Offer Competitive Paid Leave?

Most U.S. employers aren’t required to offer their employees paid leave, but many do and this year they’re offering more. According to a recent Employee Benefits research report by the Society for Human Resource Management, more U.S. employers are offering paid leave benefits. For example, compared to previous years, more employers are offering: Paid sick leave plans Paid parental leave Paid vacation time Paid personal days As these numbers change, it’s important to review your own leave policies to ensure your offerings are competitive. Offering less paid leave than other companies in your industry or geographic area will make it harder for you to attract and maintain top talent. Top Paid Benefits According to the SHRM survey, the top paid leave benefit is paid holidays, which are offered by 98 percent of respondents. Other popular paid leave benefits include: Paid bereavement leave, offered by 86 percent of respondents. Paid jury duty …

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5 Things All Employees Need to Understand About Benefits

Keeping track of what your company’s employee benefits cover and how they can work for you can be a challenge, but it is vitally important. Your employer provides benefits as part of your compensation, and if you’re not taking advantage of them, you can miss out on some important savings and coverage. Here are five things all employees need to understand about their benefits. 1. Your Health Insurance Costs You need to understand what your health insurance costs are, including how much of the premium you pay each month, any co-pay and the annual deductible, says PJ Wallin, CPA and CFP at W Financial. “Employees should know what their benefit options are, as well as for their family and who pays the costs for each. Many employers may cover a larger portion of an individual, but then subsidize less of their family.” If your employer offers a choice of different …

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5 Tips for Better Performance Appraisals

Whether your company does official performance reviews quarterly or yearly, they can seem to cause a great deal of stress. Managers can find them psychologically taxing because they don’t like giving negative feedback. Employees can worry that a mistake they made or a goal they fell short of will hurt their livelihood. And people take any remark that isn’t absolutely glowing personally. It can get messy. The ideal performance appraisal would be an opportunity to praise employees who’ve done exceptional work, help those who’ve slipped to get back on track, and to have a real dialogue to clarify expectations, offer solutions to problems and set goals for the future. Is there a way to create this dialogue without all the anxiety and frustration? Consider these tips to help you conduct more effective performance appraisals at your organization. 1. Do the Pre-Work Employees and managers each have some work to do …

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How to Re-Evaluate Your Benefits Elections When Welcoming a New Baby

If you’re preparing to add a new member to your family, congratulations! You’re in for years of laughter and love with your new son or daughter. You’re also in for some worry about his or her health and safety — and one of the best ways to alleviate those concerns is with smart employee benefits choices. Adding someone to your family is often seen as a “qualifying life event,” which is the term used to define events that may require changes to your health coverage and other benefits. Employees who have qualifying events are allowed to make changes to their coverage choices without having to wait for their employer’s open enrollment period. Making sure your child has health insurance and your family’s financial security is protected will take some of the worries away. So how can you do that? Re-examine your benefits now. Add Your New Son or Daughter to …

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You Can’t Help Employees Achieve Wellness Without Talking About Money

A basic truth that wellness committees can embrace: People evaluate their well-being in financial terms before they do so in health terms. If they feel pain in the pocketbook, then the seemingly priceless details in your conventional wellness communication might be worthless to them. Money issues are dominating your employees’ brainwaves, so including simple financial perspective into wellness communication should be a no-brainer. Unfortunately, timely financial tips and messages about preventing financial stress are left out of most messages employees receive. Throughout your organization, workers feel worried about their bank accounts, credit card statements, and retirement plans. Many of them lack basic knowledge about savings, spending, debt, and investments. “A basic truth about finances is that everyone has concern, not just people who are struggling,” says Bill Russo, a certified financial planner and the principal of Concord Financial Planners in Solon, Ohio. “Those issues can begin to take on a …

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