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Every year, the Society for Human Resources Management (SHRM) asks companies across the country about the employee benefits they're currently offering and which they plan to offer over the next 12 months. In all, the survey covers more than 250 benefits. It also offers valuable insight about where the industry is heading and how its trends might affect your business.
Make no mistake about it, employee benefits engagement is serious business. Succeed and you'll have happier, healthier, and more productive employees. Come up short and you could find yourself coping with high rates of absenteeism, low morale, and a host of other problems can can prove costly in both the short- and long-term.
When you think about strategies for recruiting and retaining top talent, what comes to mind? Competitive pay, robust retirement accounts, affordable health coverage, and casual Fridays probably make the list. And they're certainly important. But did you know that dental insurance is also a popular perk among prospective employees?
Student loan debt is one of the fastest-growing crises affecting Americans today. While the mainstream media has largely focused on how student loans are burdening Millennials and young families, the truth is more insidious. A large number of older adults are also weighed down by never-ending student loans, and the problem doesn't just affect those in lower-tier positions. Fortunately, there are some ways that you can leverage your employee benefits package to help your employees out while maximizing your ROI.
There's a lot riding on trucking companies. Each year, trucks haul more than 10.5 billion tons of freight, travel nearly 300 billion miles and deliver more than $700 billion in gross freight, according to data compiled by the American Trucking Associations.
Offering a great benefits package serves as your company's most effective path to attracting the most desirable employees. The best programs not only help you find high quality employees, but also keep them successful and in good health standing during the year. Still, some companies fail to actively encourage employee benefits engagement. In order for you to get a return from your investment towards group benefits you have to help your employees see the value of the benefits being offered to them.
There are many popular and trending voluntary employee benefits to choose from when seeking to gain and retain top talent for your business and to increase benefits engagement and employee satisfaction.
With the rise of telehealth, the majority of your interaction with physicians could be digital sooner rather than later. Electronic prescribing is just one aspect of this. Electronic prescribing, or e-prescribing for short, is when a physician or healthcare provider electronically sends prescription information to a pharmacy. Instead of having to write out a prescription by hand, all of the necessary information is transmitted instantaneously via the internet. It's not a difficult concept to grasp. There are also a number of benefits to prescribing drugs electronically.
These days, employees expect to be presented with a variety of voluntary benefits. They want the opportunity to select the benefits that are relevant to their lives, not to get stuck one-size-fits-all solutions that they can barely make use of. But, as an employer, you can't just offer your employees everything under the sun. You have a limited amount of time and resources with which to craft your benefits package. In order to offer a varied — yet also tailored — benefits package with something that will appeal to everyone, you need to know what's popular with employees.
Voluntary employee benefits are no longer an afterthought. They are at the forefront of most people's minds when looking for a job. And with unemployment at its lowest rate in decades job seekers are in the driver's seat. If you don't offer a compelling benefits package then the most qualified applicants are going to look elsewhere. But simply offering voluntary benefits slapdash isn't enough. You have to do it right.
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