Employee Benefits – The Key to Employee Loyalty?

Employee Benefits - The Key To Employee Loyalty?

Many companies spend more than 25% of their compensation budget on benefits such as medical, dental, insurance and retirement plans, according to the U.S. Department of Labor. Yet they may be skipping the simple steps that ensure they get the full value from that investment. That’s because employers underestimate just how important benefits are to creating and maintaining employee loyalty. Only 25% of people who aren’t satisfied with their benefits have a strong sense of loyalty to their job, according to a recent MetLife study. However 70% of employees who like their benefits have a strong sense of loyalty. According to Prudential, 81% of workers rate a company’s benefits package as highly important to their decision to change employers or remain with their current company. It might be easy to dismiss these statistics – employees should be lucky to even have a job, right? That is the wrong attitude. In …

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Do Your Policies Make it too Hard for Employees to Use Their Benefits?

Do Your Policies Make It Too Hard For Employees To Use Their Benefits?

The employee benefits your company provides aren’t worth much if your employees can’t figure out how to use them or find the process you’ve established too onerous to bother with. Employees who don’t understand their benefits will express less satisfaction with them, and policies that make employees jump through a bunch of hoops to use those benefits will often discourage them from trying. Problematic policies may include requiring a doctor’s note to take a sick day, not communicating clearly about benefit enrollment deadlines, or requiring real-time monitoring or reporting requirements for employees to take advantage of flexible work arrangements. Here’s what you need to do to make it easier for employees to access their benefits. Shift Your Mindset Keep in mind that the benefits you offer are meant to attract and retain the top talent you need to build your business. Federal law doesn’t mandate paid time off for vacations, …

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Why Employer-Sponsored Weight Management Programs Don’t Work

Why Employer-Sponsored Weight Management Programs Don’t Work

According to the National Institutes of Health (NIH), 2 out of 3 Americans are overweight and 1 in 3 is obese. Employer-sponsored weight management programs can play an important role in the effort to get Americans to adopt healthier lifestyles that can lower the risk for a host of chronic diseases. But many workplace weight management programs fail when it comes to helping workers meet weight loss goals. The reason? Research from the Northeast Business Group on Health (NEBGH) indicates that the traditional approach organizations often follow when it comes to weight management interventions simply doesn’t work. Instead, a new report from NEBGH, “Weight Control and Employees: One Size Doesn’t Fit All,” concludes that to make workplace-sponsored weight control programs effective, organizations need to opt for innovative and individualized programs. Employer surveys were used for the NEBGH research project and 19 executives from employers, health plans and consulting organizations were queried in an in-depth …

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5 Common Mistakes Employers Make in Designing Wellness Programs – And how to Avoid Them

What Is a Total Compensation Statement?

More employers are turning to workplace wellness programs to help control employee benefits costs and as an additional benefit to help attract and retain top employees. Industry research suggests that such investments can pay off handsomely for employers, but only if organizations are smart about how they execute their wellness initiatives. Here are 5 common mistakes that employers make when establishing and managing their wellness programs and offers expert advice on creating and implementing programs that work. 1. Starting Without a Plan You can’t expect to accomplish much with any major initiative if you start without first laying out a plan of action. “One of the biggest mistakes we’ve seen in corporate wellness initiatives (and one reason that many of them fail) is that not enough time is spent in planning,” says Carol Nave, a certified fitness trainer with and owner-operator at X Factor Fitness Solutions. “In the name of urgency, …

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