Blog Tag: benefits
Over one-third of private sector workers in America do not have access to an employer-sponsored retirement plan.* To address this issue, President Trump signed an executive order to have the Department of Labor (DOL) examine policies that would expand access to multiple employer plans (MEPs).
SilverStone Group, the largest Nebraska-based insurance broker, recently announced that it was acquired by Hub International Limited (Hub), the fifth largest insurance broker worldwide. The transaction combines both entities’ shared expertise in employee benefits, risk management, retirement planning and wealth management, paving the way for greater localized service with a stronger global reach.
Executive compensation plans can attract and retain great leaders, drive individual and business performance and reward results. Therefore, company directors, compensation committees and HR leaders need to invest time and energy to develop their plans. A successful plan should keep top talent in key positons, motivate performance and remain fiscally responsible. While designing an effective plan does require effort, the payoff is worth it. We’d like to outline some general steps you can take to start the process.
Attracting and retaining good employees in today’s tight labor market can be a challenge. While competitive pay and good benefits are important, job seekers want the total package. They are looking for the ideal work environment – which includes work-life effectiveness. Total rewards strategies have traditionally focused on compensation and benefits, but it’s time for a change. Employees have expressed a desire for a healthy balance between their professional and personal lives, and that’s only possible through you – their employer.
Portions of the U.S. Department of Labor’s (DOL) Final Rule regarding Association Health Plans (AHPs) went into effect on January 1, 2019. It expands the availability of AHPs, allowing small businesses to band together and negotiate better deals when buying insurance for their members by broadening the definition of “employer.” States are reacting in extremely different ways. Learn more here.
More than 10,000 Baby Boomers turn 65 each day. This means a new person is eligible for Medicare benefits every eight seconds. But many who reach this milestone need help determining their best Medicare options. Further complicating the matter is that many people continue to work past the age of 65. Understanding Medicare can help employees make the right decision based on their particular needs. Let’s start by covering some of the basics.
Employees have spoken – paid time off (PTO) is important. In fact, a good PTO policy is one of the most valued benefits among job seekers. According to a recent survey, flexible hours and more vacation time ranked among the top three job perks people look for – right behind better health insurance.¹
Smartphones seem to be organizing our lives one app download at a time. We can deposit checks, order groceries, get fitness coaching and socialize all from our mobile devices. This convenience and accessibility inspired the creation of HealthJoy, a comprehensive healthcare guidance and engagement platform. HealthJoy is designed to simplify healthcare benefits, lower costs and increase benefits satisfaction.
Keeping up with the latest employee benefit news can be a job in itself. Benefit trends and regulations are constantly changing. Because they play such a vital role in attracting and retaining quality employees, it is crucial to stay on top of the most recent developments in this field.
Now is the time to rethink your approach if your organization has not transitioned from a traditional compensation and benefits plan to a total rewards strategy. Historically low unemployment rates continue to create a competitive labor market, and the talent pool is rapidly changing as baby boomers retire and millennials join the workforce. In response to this staffing environment, employers are beginning to modify their total rewards strategies and offer things like chef-prepared meals, yoga classes, massages, student loan repayment programs, unlimited paid time off (PTO) and sabbaticals.