Common Employee Misconceptions About Benefits

The only way your employees will get the most out of their benefits, and for you to ensure your organization is getting a good return on its investment, is if they fully understand them. But in the Open Enrollment Survey done by Aflac in 2012, only 16 percent of employees reported feeling confident they hadn’t made any mistakes during open enrollment, and almost a quarter felt they hadn’t picked the right coverage for their needs. Employees can get the wrong ideas about their benefits, and miscommunication, apathy or ignorance can perpetuate those misconceptions. The cost of ignorance is high: Employees may not have the coverage they need, and you may be paying for coverage they’re not using. This guide will help you understand four common misconceptions employees have about benefits offerings and what human resources leaders can do to educate them. How Much They Cost Experts say one of the …

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5 Ways to Retain Customers & Increase Sales

There are several reasons your existing customers are your business’ most valuable asset. Increased profits from sales Increased profits from reduced operating costs Increased profits from referrals Not only is it 3-5 times cheaper to keep a customer than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied customers also help your business to grow through referrals to friends and family. To look at it another way, if your business is gaining 10% new customers annually, but losing 10% of existing customers annually, your company is not growing. Imagine if your company reduced your customer defection rate by 5%; your business would be growing at a rate of 5% every year. Not only that but your sales and marketing expenditure would be reduced. How do you take care of your most valuable asset, your customers? Here are 5 proven …

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Should Wearable Fitness Devices Have a Role in Your Wellness Plan?

The appeal is obvious: wearable devices that track a user’s movements or exertion throughout the day can provide the level of data necessary to help make the habitual changes necessary to improve fitness. And wearable fitness devices are growing in popularity, according to ABI Research, which found revenues in the wearable-connected-device market will grow to more than $6 billion in 2018 — and HR departments are paying attention. Should wearable fitness devices have a role in your wellness plan? Wellness consultants say yes. “There is a definite role for wearable technology in corporate wellness programs,” says Fran Melmed of Context Communication, which focuses on wellness communication. “Today, the majority of employers are particularly interested in the trackers that analyze steps, nutrition and sleep.” These devices represent a valuable source of data for employers and employees, Melmed says. Employers can use the information to get a larger picture about the state …

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Which Employee Benefits Do Workers Value Most?

An improving economy has made the talent market heat up, and organizations are finding they need to look for new ways to recruit and retain high-performing employees. One of the tools many organizations use to attract high-talent candidates and hold onto their top performers is a strong benefits package. While different employees have different preferences and needs, there are some trends worth noting when it comes to the benefits employees value. This white paper will look at benefits employees tend to value most, and examine how organizations can use benefits to improve their recruiting and retention efforts. Health Insurance One of the most valued employee benefits is health insurance. “Employees value health insurance, dental and vision the most,” says Nicole Wright of Entrepreneurs Loft. Research backs that up. According to a Towers Watson survey, 46 percent of respondents said health care benefits are an important reason for deciding to work …

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