Employers offering only basic benefits packages are likely already losing out on attracting top talent for their organization. Fifteen percent of companies now offer some form of pet health insurance. Instead, it is a new reality that will be here for the foreseeable future. Here is our list of the top 10 employee benefits for 2020: Top 10 Employee Benefits for 2020 #10 Pet-Friendly Employee Benefits. Check out our infographic, which highlights the results of our weekly election polls. Financial well-being impacts physical well-being, too: Over half (54%) of respondents to a recent poll said they’d delayed medical care because they couldn’t afford it. After employees sign up for benefits, talk to your broker about sending out customized emails with paths and resources every few weeks to continue engagement. Healthcare Strategy Shifts. Saturated with jobs and lacking enough people to fill them, the tight labor market continues to make headlines, and for employers it’s not just a news story. DECEMBER 19, 2019. Knowing they can care for a sick child or get an elderly parent to doctor’s appointments can ease an employee’s stress level, which in turn can reduce burnout and anxiety. We believe it’s truly about “holistic well-being,” which encompasses mental, financial, and physical well-being. Due to COVID-19, many organizations have had to go into crisis mode to react swiftly with the changing atmosphere that took form. Beyond traditional benefits such as health insurance and retirement matches, companies can offer voluntary benefits that make tangible positive impacts in their employees’ lives. But employers can offer more—flexible schedules and the ability to work remotely can significantly ease the burden on workers across generations. From financial wellness education that can help employees navigate personal financial stressors like purchasing car insurance to offering student loan debt refinancing, employers should focus their attention on offering platforms that can connect employees with voluntary benefits outside of just healthcare or a retirement plan. Jon Shanahan, President and CEO of Businessolver, leads this benefits administration technology provider that delivers market-changing solutions. Employees want direct communication about their benefits and how those benefits can make an impact in their own lives. This is just one example of the value that employees place on their benefits, and it demonstrates why a robust benefits package helps an employer stand out in today’s labor market. Do you need to register? that can make the whole process a lot simpler. out there in the ether, just waiting to be offered to your team. previously, and while there's not any huge differences, there are a few variations between the generations. In 2019, each employee is projected to cost an average of $15,000 in healthcare costs. Healthcare costs per employee continue to rise, with 2019 being the most expensive year yet for employers offering health insurance to their organization. happenings in HR Technology. Published on 15/10/2019. Using interviews with members from the HR Daily […], Getting Employees on Board With Off-Site I-9s HR professionals know that Form I-9 must be filled out correctly, but off-site employees struggle to complete it without help. Keep up with the current number of cases in your state with our interactive map, updated daily, and read on to learn how COVID-19 is impacting workplaces across the nation and what you can do to keep your workers healthy and safe. This 3 part blog will identify some of the most common and costly HR and employee benefits mistakes and provide tips on how to avoid them. Let’s face it: Nobody likes change, but how organizations and leaders approach change will make or break your company. The 2019 Aon Benefits & Trends survey shows that 97% of employers agree that employees’ expectations of their experience in the workplace are changing. The coronavirus (COVID-19) outbreak is top of mind for HR professionals and employers nationwide. Saturated with jobs and lacking enough people to fill them, the tight labor market continues to make headlines, and for employers it’s not just a news story. This year, AI moves beyond scanning résumés as machine learning becomes more integrated into benefits administration platforms to drive efficiencies and service levels. Published on … Apply online here. Employees also want access to mobile platforms so they can sign up for and manage their benefits in ways that are easy for them. , which can, in turn, see absences reduced. Click here to read the our latest information for customers and suppliers. Find trends in employees’ benefits usage to figure out where you can make improvements. Learn more […]. For business leaders and HR professionals, the labor market situation is complicating employee recruiting and retention. In 2019, more organizations will take this approach to overall health, and it will be a major factor in improving the employee experience and attracting new recruits. Offering a single benefits solution across the board no longer cuts it for employees looking for specific help in areas not covered by a retirement plan or health benefit. Chris Whitlow is the founder and CEO of Edukate, a platform that amplifies financial wellness efforts through data-driven insights and solutions. The paperwork is so complex that there are more than 900 pages of completion instructions from government handbooks, guides and websites. This leads to lower billings from doctor’s offices and reduces the burden of in-person visits. Sign up for the HR Daily Advisor Newsletter, Putting a Face on HR: Profiling Crisis and Change Management Strategies, Getting Employees on Board With Off-Site I-9s, To view last week's poll results, click here. © 2020 BLR®—Business and Legal Resources 100 Winners Circle, Suite 300, Brentwood, TN 37027 800-727-5257 All rights reserved. Offering the right financial benefits can assist employees with budgeting, building their emergency savings, and dealing with debt, which can help them be healthier and more engaged at work. That’s according to research by EBRI, who found that in fact 78% of employees agree and say that it’s very or extremely important in their decision. Flextime and remote working help your employees manage their many responsibilities in and out of the office. , while your younger employees are more likely to be looking for training-related benefits. Utilizing a secure SaaS platform, Businessolver’s programs and communications tools help their clients maximize benefits program investment, minimize risk exposure, and keep employees engaged with their benefits year-round. Offering employee benefits … But they're also not for everyone – particularly if you work somewhere that's inaccessible by bike to anyone but the most seasoned cyclists, such as an out-of-town industrial estate, or if you have a workload largely made up by mobile workers who need to drive to different sites. Gen Xers and older Millennials in the “Sandwich Generation” are caring for both children and aging relatives, while other Millennials have young children and are balancing child care with work. 2019: The Year of Employee Benefits. and reducing costs of repeatedly recruiting and training. Be on the forefront of these trends, and show prospective and current employees why working for you is the right choice. Employees don’t just need help with their benefits during open enrollment periods. Particularly if you’re recruiting new graduates, this benefit can make or break a job offer and compensation package. procurement frameworks for public sector organisations. Edukate drives user engagement, scales with any size organization and integrates with a company’s existing benefit providers and other third-party solutions to meet individual needs.