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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.
There's lots of talk about adding value to your benefits package but precious little about creating value with what you already have. Employee benefits — especially voluntary benefits — are key to attracting and retaining talent in today's job market, but simply adding more and more isn't the ultimate solution. You need to make sure that the benefits you already offer are understood and appreciated by your employees.
If you've been following the blog recently you've probably heard of the debate over pharmacy benefit manager (PBM) rebates. If you haven't then don't worry, we'll catch you up on it. Not too long ago, the Trump administration proposed a plan that would end drug rebates for federal payers. Even more recently Senator Mike Braun, a Republican from Indiana, introduced a bill that would also move to end them in the commercial sector. It's clear that many politicians on both sides of the aisle are not happy with how PBM rebates have worked out.
There's a lot of talk floating around about how you need to dazzle potential employees with your benefits package. An impressive salary just isn't enough anymore. Highly-qualified job seekers are getting offers like that left and right. And what about your current employees? They desire good benefits too. If you aren't offering them what they need, they may end up looking elsewhere. One thing that not all employers offer is a competitive benefits package.
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