Articles tagged 'Benefits'

Benefits, HR Management

Big Changes For Workplace Health Plans: 6 Pitfalls to Watch For in 2015

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You don’t get a pass this year on big health insurance decisions because you and your employees are not shopping in an Affordable Care Act marketplace.

Employer medical plans — where most working-age folks get coverage — are changing too.

Rising costs, a looming tax on rich benefit packages and the idea that people should buy medical treatment the way they shop for cell phones have increased odds that workplace plans will be very different in 2015. Read more…

Benefits, HR News & Trends

Why Are America’s Workers Giving Back So Much PTO?

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American employees are taking less vacation time today than at any point in the last four decades.

In fact, in 2013 employees with available Paid Time Off (PTO) took an average of 16 days of vacation, compared to an average of 20 days in 2000.

This is data from a recent report by the U.S Travel Association, conducted by Oxford Economics, which analyzes the impact of forfeited time off. The report’s analysis is based on the Monthly Current Population Survey results reported by the U.S. Bureau of Labor Statistics and a June 2014 survey of 1,303 American workers conducted by GfK Public Affairs and Corporate Communications in conjunction with Oxford Economics. Read more…

Benefits, HR News & Trends

What You and Your Business Need to Know About Obamacare, Year 2

health care reform

For business owners, two things in life are certain: taxes and rising health care costs. The two become nearly interchangeable when new IRS Health Care Reporting requirements go into effect, starting in 2016.

Under the Affordable Care Act (ACA), large employers (or those employing more than 50 full-time workers) face penalties if they fail to offer minimal coverage to employees. Prior to the Affordable Care Act, health insurance decisions were largely up to the individual business.

Beginning in 2016, large employers must report very specific information to the IRS to remain compliant, and the IRS has recently issued draft copies of the health care coverage forms. Read more…

Benefits, HR Management

Nobody’s Laughing, But Unlimited Vacation Policies Are a Complete Joke

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Well, it had to happen — unlimited vacation policies have jumped the shark!

Billionaire Richard Branson recently announced that his company, Virgin Group, would begin offering unlimited vacation to all corporate employees. Here’s a statement from a CNN interview with Richard:

Take a holiday whenever you want. Take as much holiday as you want. We’re not going to keep a check on how much holiday you take. Treat people as human beings, give them that flexibility and I don’t think they’ll abuse it. And they’ll get the job done.” Read more…

HR Basics, Legal Issues

Why You Need to Be Careful Emailing Employees FMLA Paperwork

FMLA_poster

By. Eric B. Meyer

Remember, over the summer, when I wrote about how sending Family and Medical Leave Act paperwork to an employee via first class mail is a big mistake.

Why? Because if the employee claims not to have received the paperwork, then you have no proof of delivery, and possible FMLA interference issues if the employee is somehow precluded from taking FMLA leave.

So, I offered three alternatives: Read more…

Benefits, HR News & Trends

Costs Are Rising (Even If Premiums Aren’t) For 2015 Health Care

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Fall is enrollment season for many people who get insurance through their workplace.

Premium increases for 2015 plans are expected to be modest on average, but the shift toward higher out-of-pocket costs overall for consumers will continue as employers try to keep a lid on their costs and incorporate health law changes.

Experts anticipate that premiums will rise a modest 4 percent in 2015, on average, slightly higher than last year but lower than typical recent increases. Read more…

Benefits, HR Management

What PTO Abuse May Be Costing You

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When busy managers spend a lot of time out of the office, it translates to loose constraints for employees who don’t punch a time clock. You want to trust your employees. After all, you hired them for a reason.

A CareerBuilder survey reveals 23 percent of employees arrive late to work at least once a month, and 15 percent once per week. Research by Circadian shows partial shift absences like these lead to an average payroll inflation of 72 percent.

Even more shocking, companies lose $2,650 per salaried employee and $3,600 per hourly employee per year due to unplanned employee absences. Further, the Bureau of Labor Statistics reports business lose an average of 2.8 work days due to unplanned employee absences. Read more…

Talent Management

Here’s a Newsflash – Going Back on Your Word Ticks Employees Off

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Addressing attraction and retention was cited as the top business challenge for 52 percent of employers in a recent HireRight survey.

Attracting quality talent and keeping them is vital, for obvious reasons, but employers are frequently shooting themselves in the foot by not following through on promises they made in the recruiting and hiring process.

“The average worker today stays at each of his or her jobs 4.4 years according to the most recent available data from the Bureau of Labor Statistics, but the expected tenure of the workforce’s youngest employees is about half that.” Read more…

Benefits, HR News & Trends

Study: Minimal Savings For Employers Who Cap Medical Payments

healthcare-dollars

In an effort to slow health care spending, more employers are looking at capping what they pay for certain procedures — like joint replacements — and requiring insured workers who choose hospitals or medical facilities that exceed the cap to pay the difference themselves.

But a study released Thursday finds employers might be disappointed with the overall savings. While the idea, known as “reference pricing,” does highlight the huge variation in what hospitals and other medical providers charge for the same services, the report says, it does little to lower overall health care spending. Read more…

Benefits, Compensation, HR Management

Is it Really Time to Say Goodbye to the Merit Matrix?

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Bill Kutik hates the merit matrix and I suspect he is not alone.

The merit matrix is not dead — not yet, with recent WorldatWork research confirming that about three-quarters of surveyed member organizations (which tend to be larger, more well-established employers) have a merit matrix in place. But should it be? Will it be?

In his recent HR Technology column at HREOnline, Death to the Merit-Pay-Increase Matrix, Kutik (co-chair emeritus of the annual HR Technology Conference and Exhibition that is going on this week in Las Vegas), shared his issues with the matrix: Read more…