Benefits

Compensation, Rewards & Recognition

A Paycheck Is Not Enough Recognition for a Job Well Done

From istockphoto.com

One statement sure to raise my ire when discussing the Power of Thanks in the workplace is: “They get paid to do their job. That’s recognition enough.”

It’s a patently false statement. Pay and recognition serve very different needs, but they are in a symbiotic relationship when it comes to fulfilling those employee needs.

All the recognition in the world won’t help resolve an underpaid employee’s base needs in terms of Maslow’s Hierarchy. And pay raises, consistently and appropriately given, won’t meet the higher-order employee needs, either. Read more…

Benefits, HR Management

High-Deductible Health Plans: Savings Now, But Problems For Workers Later?

High deductible health plan

Got a high-deductible health plan? The kind that doesn’t pay most medical bills until they exceed several thousand dollars?

If so, you or your employees are foot soldiers who have been drafted in the war against high health costs.

Companies that switch workers into high-deductible plans can reap enormous savings, consultants will tell you — and not just by making employees pay more. Total costs paid by everybody — employer, employee and insurance company — tend to fall in the first year or rise more slowly when consumers have more at stake at the health-care checkout counter whether or not they’re making medically wise choices. Read more…

Benefits, HR News & Trends

Study: Obamacare Has Little Impact on Employer-Sponsored Health Coverage

Illustration by istockphoto.com

There has been much hand wringing over the health law requirement that large employers this year offer insurance to workers who put in 30 or more hours a week or face penalties for not doing so.

The new rules would cost employers a bundle, some fretted, as part-timers clamored for company coverage previously unavailable to them. Others worried that employers would cut workers’ hours to get under the cap.

A new study found that so far there’s little cause for concern: Average enrollment in company plans was essentially unchanged between 2014 and 2015 at 74 percent of all workers. Read more…

Compensation, Talent Management

Money is the Best Excuse (Even If It Isn’t True) for Your Employees Quitting

Illustration by Dreamstime

Citing money can be the best excuse for leaving an employer, even if it is untrue.

One survey blamed voluntary turnover on income. But when an employment agency surveys financial types on why people leave their jobs, it should come as no surprise that they chose money as the principal motivation for quitting.

Of course! These are groups who obsess about money. Read more…

Benefits

It Makes No Sense to Have Employees Come to Work Sick

Photo by Dreamstime

How much sense does this make: Retail and restaurant workers, who come into more direct contact with the average customer than any other job, are the least likely to have paid sick leave as a benefit.

Having to choose between showing up to work ill and getting paid for the day is a regular dilemma for the people who handle most of the nation’s food and products.

That’s the kind of thing that makes me sick. Read more…

Benefits

You Don’t Need to Be Outrageous, Just Creative, With Your Benefits

benefits pic

Job seekers care about the benefits you offer. In fact, 4 out of 5 say that the benefits offered are the deciding factor in taking a new job, according to data from The Guardian 2014 Workplace Benefits Study.

But what does this mean for your company? How can you compete with the outrageous benefits that companies like Google or Facebook are offering?

The answers are simple: get creative and offer candidates what they need, in order to secure the top talent your company needs. Read more…

Benefits, HR News & Trends

Can Your Company Require an Employee to Buy Health Insurance?

123RF Stock Photo

Under the Affordable Care Act, large employers that don’t offer their full-time workers comprehensive, affordable health insurance face a fine.

But some employers are taking it a step further and requiring workers to buy the company insurance, whether they want it or not. Many employees may have no choice but to comply.

Some workers are not pleased. One disgruntled reader wrote to Kaiser Health News:

My employer is requiring me to purchase health insurance and is automatically taking the premium out of my paycheck even though I don’t want to sign up for health insurance. Is this legal?” Read more…

Compensation, Talent Management

Are Higher Wages the Guiding Strategy For Companies This Year?

walmart11

President Obama threw down the gauntlet in January’s State of the Union address, challenging Congress to raise the federal minimum wage to $9/hour, citing a rebounding economy and stagnating inequality.

The current federal minimum is at $7.25/hour, and it’s an uphill battle of red tape, political maneuvering, and competing ideologies to get it raised. However, Congress may be late to the table, as several retailers have taken matters into their own hands. Read more…

Benefits, Legal Issues

Congress Looks to Provide Clarity on Employee Wellness Programs

Employee wellness

By Ilyse Wolens Schuman and Michael J. Lotito

As promised during a Senate hearing conducted earlier this year, members of the House and Senate have introduced a bill seeking to reduce the legal uncertainly in administering employee wellness programs.

The Preserving Employee Wellness Programs Act (H.R. 1189, S. 620) would:

  • Explicitly permit wellness programs to offer a financial incentive to participate; Read more…
Compensation, Talent Management

When It Comes to Employee Wages, We Just Need to Do the Right Thing

Do the right thing

This pay initiative is an important part of our strategies to continue attracting and retaining the best talent in order to deliver a great shopping experience, remain competitive on wages in our U.S. markets and stay focused on our value mission,” TJX Chief Executive Carol Meyrowitz said in a statement.

Having noticed from afar the recent groundbreaking announcements that have come from major retailers in the U.S., that decision has given me cause for hope.

First Wal-Mart and now Target has, on their own initiative, decided to raise the wages of their workers. That is a good sign. I particularly liked the above statement, tying it to “attracting and retaining.” Read more…