For the first time, there are six generations in the workforce. And each of those generations has different wants and needs regarding total rewards. When one-third of employees would prefer more benefits over more compensation, according to a Marsh McLennan Agency report published earlier this year, employers can help employees...
Designing an effective and feature-rich employee benefits strategy is crucial for attracting and retaining top talent while also fostering a positive workplace culture. To help you and your team develop one, here are some critical steps to consider. Step 1: Understand Your Workforce - The first step is...
WASHINGTON – The U.S. Department of Labor has issued guidance and provided relief for participants and beneficiaries and employee benefit plans affected by Hurricane Helene and by Hurricane Milton. The department recognizes that plan participants and their families affected by these disasters are facing many challenges, including the...
The Baby Boomers, Generation X, millennials, and Generation Z, who make up most employers’ workforce, have different situations and benefit needs. That’s why increasing numbers of employers are looking beyond a one-size-fits-all plan to a multi-generational benefit plan. KNOW YOUR DEMOGRAPHICS The first step in moving...
It might sound like something included in a benefits package alongside nap lounges and smoothie bars, but offering your employees unlimited PTO is not only totally doable, it could have a really positive impact on your organization and culture. So what is "Unlimited PTO"? Unlimited Paid...
Providing generous benefits for church employees is part of a strategy that is used to attract and retain key employees. Benefits vary greatly by the organization and can be as simple as health insurance for church employees to as complex as flexible work schedules or on-campus daycare. Benefit packages come...
Studies repeatedly cite health insurance as the most desired workplace benefit among employees. However, recent studies show an increasing demand for nonmedical workplace benefits. In November 2021, LIMRA reported that nonmedical benefits are expected to increase 20% by 2026. This data comes from a survey conducted...
Health savings accounts are paired with high-deductible health plans for an especially adaptable insurance and savings program. HDHPs have large deductibles that members must meet before receiving coverage. Participants meet those deductibles by contributing their own money to HSAs. The government does not tax these...
With the cost of health care continuing to rise, providing robust health care as a benefit to employees is becoming an increasingly important issue, especially in these times when the Covid-19 pandemic remains a concern and the future is uncertain. Fortunately, businesses can take steps to...
Employers that offer voluntary benefits — such as health insurance, retirement plans and flexible spending accounts — are required by law to disclose certain information about the plans to employees. These laws aside, employees should understand the benefits available to them so they can make...