Attracting and retaining employees is a constant struggle for organizations of any size, but it’s particularly so for small businesses. With smaller teams, employers need to hold onto talent whenever possible. And that can be a challenge, especially when resources are scarce as they are currently amid the lingering effects of the COVID-19 pandemic.
The American economy is finally recovering after more than a year of stagnation due to the COVID-19 pandemic. President Joe Biden’s administration wants to continue this momentum and further stimulate the economy. To help in that effort, President Biden recently signed an executive order aimed at increasing competition among businesses.
Returning to in-person work is a top priority for many workplaces. As the impact of the COVID-19 pandemic lessens, employers are eager to get employees back in their buildings. But that comes with a series of complications.
One major repercussion of the COVID-19 pandemic is that employees are embracing the voluntary benefits their employers are offering them, but they'd like to see more choices and issues such as mental health and voluntary benefits have risen to the fore.
The IRS has set the maximum amounts employees can funnel into their health savings accounts and health reimbursement accounts (HRAs) for the 2022 policy year.
Research has found that employers who offered their workers stand-alone vision benefits experienced $5.8 billion in cost savings in the aggregate over four years due to reduced health care costs, avoided productivity losses, and lower turnover rates.
Employee communication refers to how organizations communicate with their employees—and conversely, how employees communicate with organizational leadership. While dialogue takes place in every workplace to some capacity, organizations that think and act strategically when communicating with employees may be able to realize benefits.
With so many people having been relegated to remote work during the COVID-19 pandemic, many employers are now wrestling with how to proceed as it starts to wane. Many companies are considering implementing hybrid, flextime work schedules after seeing success with remote work.
For a growing number of employers, voluntary accident insurance plans may play a part in rounding out employee benefits packages to help employees pay for unexpected costs. Accidents can happen to anyone—and the reality is that accidents do happen. In fact, more than 80 million people in the United States seek medical treatment for injuries each year.
Open enrollment is something you probably only think about a few times a year. For employees, it might be even less often. That’s why it’s important to touch on benefits throughout the year—to ensure employees are making the most of them. Here are five steps for providing employees with thoughtful, year-round benefits engagement: