In our 2015 MarketPulse trend study, we introduce our first annual WellnessPulse benchmarking study, in which we survey our clients about their wellness programs and share key results. We also cover trends in executive compensation and benefits, health plan design, healthcare reform, social engineering and cyber risks, workers' compensation, and retirement benefits.
Download the PDF: MarketPulse 2015
Retirement planning is very different from planning for other benefits because the end goal is many years – even decades – away. It’s impossible to develop a foolproof plan that will guide a 25 year-old to her retirement 40 years later. But the practice of planning, the financial education obtained and the savings habits created along the journey can steer employees closer to reaching their retirement goals.
In a society in which job-jumping has become the norm, employers are routinely confronted with the attendant challenges arising from increased employee turnover. Among the challenges presented are also opportunities to understand the cost of turnover, pinpoint potential sources, and implement best practices for preventing employee turnover.
A recent survey by the Society for Human Resources Management (SHRM) reported 94% of leaders feel employee engagement is an important or very important workforce challenge. An engaged workforce increases operational income by over 19%, while a disengaged workforce can drain over 34% of an organizations’ operational income. Additional risks of low engagement can be seen in increased turnover, low customer satisfaction ratings and even increased employment litigation.
Employee retention continues to be a top concern for employers, even more so than last year, according to a PayScale survey of more than 4,000 executives and human resources professionals.
In 2014, a staggering 59% of employers were more concerned about retaining talent than anything else. Five years ago, only half of those employers thought retention was their number one concern.
Introducing our 2019 MarketPulse trend report, where we discuss what our clients and other employers are doing to manage risks, promote employee productivity and morale, reduce costs and improve their organizations as a whole. In this issue, we explore retirement plans featuring target date funds as well as specialty drugs, cyber risk, predictive modeling, workplace well-being, advanced data analytics, the cost of large and often ongoing medical claims, and various emerging trends. In addition to a discussion of each trend, you will find supporting materials at AssociatedBRC.com/MarketPulse.
Download the PDF: MarketPulse 2019
Biometric screenings top the list of wellness tools that employers use today, according to MetLife’s 2014 U.S. Employee Benefit Trends Study. After biometrics, employers use other types of wellness programs as follows:
When it comes to an employer’s health plan, good information is like currency. Resourceful employers analyze their plan’s medical claims data and, with a few tweaks in plan design, they can create significant savings.
Regardless of the industry or the current state of the economy, conducting a criminal background screen on employment candidates has become standard practice for many employers. It is not so much the practice that presents the issue as it is the potential result. To that point, the critical question becomes, what does an employer do if the background check reveals a criminal record?
Enrolled in a high deductible health plan (HDHP)? There may still be time to maximize your health savings account (HSA) contributions for 2018 — you have until April 15th to make your HSA contributions. Current contributions limits include $6,850 for family and $3,450 for single. Family members (or any other person) may also make contributions on behalf of an eligible individual. High deductible health plan (HDHP) requirements are:
A benefit plan must not discriminate in favor of highly compensated employees (HCEs) and key employees with respect to eligibility, contributions, or benefits. To ensure compliance, all 401(k) plan sponsors should understand the basics of nondiscrimination testing and, considering the complexity of the rules, make sure this critical duty is being done right. Even if a plan sponsor relies on a third-party administrator (TPA) to perform the nondiscrimination testing, the plan sponsor is responsible for the consequences of noncompliance, which could include tax consequences for plan member investments.
For decades, rising healthcare costs have been a consistent topic of conversation, particularly for employers concerned with enhancing worker productivity, reducing medical costs and meeting occupational health and safety needs. One solution which has arisen with increasing frequency is the establishment of employer-sponsored clinics (or “onsite/near-site” clinics). With this solution, however, comes many considerations and challenges for employers.
While decorations and parties can potentially have a positive effect on employee morale, they are often tempered by the competing interests of promoting diversity and inclusion within the workplace and the attendant risk of a religious discrimination claim. So how does an employer navigate its way down Candy Cane Lane without running afoul of state and federal civil rights laws?
Year-end is here and you’re probably thinking about what you want to do with your money. You might be considering charitable contributions, investments in tax-deferred accounts and other options. Here are some tips to consider as you weigh potential tax moves between now and the end of the year.
Risk management and human resources are traditionally two different job functions, and the people in these areas have rarely crossed paths — but that is changing.
Why are these people starting to work together more frequently?
Foth Companies, headquartered in Green Bay, Wis., understands the link between the company’s success and the well-being of its employees. Implementing a wellness program called “Workin’ Well” featuring health risk assessments (HRAs) is one way the company is demonstrating its commitment to employees.
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