The 6 Most Common Benefits Mistakes Long-Term Employees Make

If you’ve been with a company for a long time, it’s easy to get comfortable with your position there. This goes for your employee benefits, as well: You might fall into a routine and not realize the many options your employer offers that fit you better than your current coverage. Don’t miss out by making these benefits mistakes. 1. Ignoring Communications HR sends out all sorts of announcements about employee benefits — are you listening? If you’re not paying attention to employee communications, you could miss enrollment deadlines or valuable new benefits that you didn’t know you had. Chris Lokken, an employee benefits consultant with Johnson Insurance, says he often asks employees how many took advantage of the regular free eye exam their health insurance often covers. “Usually I get 3 or 4 hands to go up, and 5 or 10 people see me after the meeting and ask me …

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How to Pick the Right Voluntary Benefits for Your Lifestyle

A recent survey from Towers Watson says more than 90 percent of employers expect voluntary benefits to be an important part of their value proposition to employees in the next three to five years, compared with 59 percent who said the same in 2013. As a result, chances are you’ll see an increase in the scope of voluntary benefits your employer offers. Voluntary benefits can be a great way to get coverage for a variety of issues at a reasonable cost, but it can be a challenge to determine which ones are right for you. Here’s how. Consider Your Needs Your voluntary benefits needs will rely on factors such as life stage, current income, plans for the future and dependents. Take stock of what’s at risk and what could be better served by purchasing voluntary benefits options. Entry-level workers, for example, are more likely to be single and have no …

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How To Create A Competitive Benefits Package

How To Create A Competitive Benefits Package

As the war for top talent heats up, companies will have to work harder to recruit and retain the most desirable new hires. A strong benefits package can make the difference for job candidates trying to decide between your company and your competitor. But do you know what it takes to create a competitive benefits package? Do Your Homework Creating a competitive benefits package starts with information gathering: Survey your current employees to see if you’re offering the kind of benefits they want. Research your industry and competitors to find out what types of benefit offerings you’re up against. Look at your company culture and staffing needs to determine what kinds of employees you want to hire. Then explore what type of benefits those types of candidates are looking for. “Your benefits broker is a good place to start looking for information on what your competitors might be offering,” says Chris Costello, principal and founder of …

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