The past several years have thrown a wrench into the way your employees live their lives and make decisions - especially when it comes to health care benefits.
Most Millennials are now seasoned professionals, and the competition to recruit them is fierce. So, if you want your company to be an employer of choice among this workforce-dominating generation, you must tailor your benefits package and administrative approach to their needs. According to a recent AFLAC survey, 34% of Millennials have rejected a job offer due to dissatisfaction with the benefits provided.
It’s the year of the HSA and this tax-advantaged benefit is finally getting the recognition it deserves! While health savings accounts (HSAs) have always featured a host of valuable benefits, many employees have shied away from them in the past, often due to a lack of awareness and understanding. Now (due in part to the effects of the pandemic) nearly 50% of workers surveyed are investing the time to learn more about the plans that protect their health and their wallet. In addition, 77% of employees reported their HSA gave them peace of mind over the past year!
The way people work has changed forever. Technological advancements, shifting attitudes, new priorities, and the pandemic have ushered in an era where more and more people fulfill their professional roles at home. And, this era is here to stay - indefinitely. In fact, a recent study from SHRM revealed that more than half of employees want to work remotely permanently.
Let's face it. The last couple of years have not been easy. Between budget cuts, the need to learn new technology on the fly, and other unprecedented, pandemic-related challenges, your institution’s faculty and staff have been put through the wringer these past two years. And so have you. As an HR professional in higher education, you’ve been forced to wear more hats than usual, as you plan ‘return to campus’ strategies and work to keep your teams happy and healthy as uncertainty continues to loom.
Your workforce is becoming increasingly diverse, and in order to stay competitive, your benefits have to follow suit. That means your suite of perks must cater to the unique needs of women, people of color, LGBTQ+ team members, veterans, workers with disabilities, and every other group that you employ. According to the recent Willis Towers Watson Emerging Trends in Health Care Survey, more than 70% of polled employers plan to redesign their benefits using a diversity, equity, and inclusion (DEI) lens as their guide.
Sure, your employees want a great salary and a prestigious job title. But, more importantly, they want to work for a company that cares about them. Fortunately, your organization can easily demonstrate appreciation and respect for your team members by offering a company culture and benefits package that truly supports them and their needs. If you’re not sure where to begin, you’ve come to the right place - we’re here to help you get a head start by sharing the top employee benefits your organization should be offering.
You did it! You made it through another challenging open enrollment season. But, that doesn’t mean your work is done. After a quick breather, it’s a good idea to jump right into strategic planning for next year because as you know, the earlier you start, the more effective and efficient your open enrollment will be. In this article, we’ll share the top four metrics you should consider to evaluate open enrollment success and help guide your strategy for the next year.
So your last team member has enrolled in their benefits, and you breathe a huge sigh of relief that open enrollment is over. But, while you should celebrate for a moment, it’s important to remember that your work isn’t done yet. Your employees will still need your support throughout the year. Here's what your employees need after open enrollment to get the most out of their benefits.
The pandemic accelerated the virtualization of most interactions and processes -- and open enrollment is no different. Due to necessity, you’ve managed to run your annual enrollment season from afar without the usual in-person meetings or benefits fair in the cafeteria.