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 …

CONTINUE READING

Top 5 Open Enrollment Tips

Top 5 Open Enrollment Tips

The following important tips will help your company plan a successful open enrollment. Tip #1: Design a Clear and Concise Open Enrollment Announcement  Make sure your open enrollment announcement clearly summarizes key information, including: Open enrollment period dates for all benefits Pre-tax contribution rates by specific benefit Post-tax contribution rates by specific benefit Premium increases (if any) Any benefit changes Tip #2: Create and Follow a Schedule for Communicating Open Enrollment Information Create a timeline to distribute the required communication materials to help ensure a successful open enrollment. The following is an example of a potential timeline: Email and/or mail your open enrollment announcement 7-14 days prior to the open enrollment period Send email reminders 1-3 days before the open enrollment period begins (include FAQs as an effective way to respond to the most commonly asked questions) Send a reminder on the 1st and 2nd days of open enrollment to all employees, …

CONTINUE READING

Lack of Private Workspace Hurts Productivity

Lack Of Private Workspace Hurts Productivity

Offices designed with open and shared workspaces have been popular for decades – at least, with people designing office buildings. Research indicates that those who actually work in shared spaces aren’t necessarily happy about it. Moreover, open work spaces may not be the best idea for a company’s bottom line. A new study questioned 10,000 workers in 14 countries about their office environments and working patterns. The results show that the number one complaint from employees is a lack of privacy in their work areas. The research suggests not having private workspaces undermines the ability of some workers to do their best at their jobs, damages their level of engagement, hurts morale and can negatively affect an organization’s productivity. The Impact of too Little Privacy in the Workplace The extensive international research, carried out by global market research company IPSOS and the Workspace Futures Team of Steelcase (an international leader in the office furniture industry), found that almost all the …

CONTINUE READING

A New Look at BMI

BMI

Carrying around excess pounds is a problem of epidemic proportions in the U.S. In fact, according to the Centers for Disease Control (CDC), over 1/3 of U.S. adults (36.5%) are so overweight they are classified as obese. Because it raises the risk of many health problems – from type 2 diabetes and heart disease to sleep apnea and several cancers – being significantly overweight not only causes suffering on an individual basis but it also takes a significant economic toll, contributing to higher medical and insurance costs, more disability, lost work days and premature death. But defining who is truly overweight and who isn’t is coming under scrutiny thanks to a reassessment of BMI (body mass index), a mathematical tool long used by physicians to quickly and inexpensively determine whether a person’s weight ranks as normal. Unlike reading pounds on a scale, BMI is calculated by a formula that takes into account a person’s weight in relation to his or …

CONTINUE READING