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International Foundation of Employee Benefit Plans
APRIL 26, 2022
In 2022, employees expect their benefits to address flexibility as much as they expect health and retirement benefits. Many employers are starting to realize that flexibility will affect the future. Read more > The post Five Challenges Paid Time Off Could Help Solve appeared first on Word on Benefits.
Surprise bills and billing errors are driving growing dissatisfaction among Millennials and Gen Zers with their health insurance, a new study has found. HealthCare.com ‘s “2022 Medical Debt Survey” found that about one in four Gen Zers and Millennials with medical debt skipped rent or mortgage payments because of their debt. That’s compared with 21% for Gen Xers and 12% for baby boomers.
Historically speaking, retirees have typically relied on three primary tools to help them prepare for retirement: pension plans, Social Security, and defined contribution plans, like 401(k) plans. That’s no longer the case. Pension plans are virtually non-existent, falling from nearly half of private sector participation in the mid-1980s to less than 15% today.
At this point, there’s no denying that remote work is part of our new normal. For many employees, that is a relief. They can spend more time with their families and less time commuting. They can set aside time for deep work without the inevitable interruptions that come with an in-office day. And they can make themselves truly comfortable wherever they decide to get the job done.
Get ready for the future of business. As HR navigates an ongoing labor shortage, leaders need stronger, more adaptable recruiting strategies. Do you have the tools you need to build a talent pipeline that drives sustainable business growth?
Every employer needs to treat their employees as valuable assets since they are the major contributors to their businesses’ productivity. Your workers should feel valued and satisfied to fully commit to their duties and improve work performance. One way to make your workers happy is by empowering them to become the best version of themselves. This means that you need to possess excellent leadership skills to encourage independence in the workplace rather than just being authoritative and delegat
I was recently cleaning out some of my files and threw out some old conference programs from the early 2010s. Before I did, I reviewed notes that I had taken looking for some “timeless nuggets” that are still relevant in 2022. Below are ten conference insights that stood out to me as still being relevant a decade later: Future Mindedness - Things appear “closer” than they otherwise are if clarity is forced upon people.
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I was recently cleaning out some of my files and threw out some old conference programs from the early 2010s. Before I did, I reviewed notes that I had taken looking for some “timeless nuggets” that are still relevant in 2022. Below are ten conference insights that stood out to me as still being relevant a decade later: Future Mindedness - Things appear “closer” than they otherwise are if clarity is forced upon people.
Estimated reading time: 5 minutes. (Editor’s Note: Today’s article is brought to you by our friends at Neocase , a provider of cloud solutions for HR transformation. For 20 years, Neocase has been offering solutions to improve the employee experience. They recently announced a new Employee Journey solution that provides a customizable complete onboarding to offboarding experience.
Jump to section. What is stigma? The cost of mental health stigma. Why is mental health stigmatized? 6 types of stigma. How mental health stigmas impact individuals. Ways to cope with mental health stigma. What can I do about stigma?
Our latest blog looks at how organisations can design their flexible working policies to create positive experiences for employees. If you’d like to talk to us about how you differentiate your people experiences , we can help, so get in touch using the contact form below. . Your employees won’t be happy all the time and you shouldn’t expect them to be.
Leaders have a significant role in the economic world. While great leaders can benefit an organization in a number of different ways, unsuccessful leaders can be damaging. Emotional intelligence has been proposed as a factor in determining whether or not a leader is effective. Here we look at the relationship between emotional intelligence and leadership effectiveness.
As our workforce evolves, so must the way we support it. With more employees choosing to work beyond age 65, HR leaders are increasingly being called upon to guide aging employees through one of the most complex transitions in their professional lives - from employer sponsored plans to Group Medicare. Without clear guidance, confusion around eligibility, coverage options, and cost implications can lead to uncertainty and missed opportunities for optimized benefits.
Gamification has become one of the more popular methods of enhancing the employee experience within the modern workplace. It has been marketed as a system to increase employee engagement and productivity while also boosting employee satisfaction. But what exactly is gamification? And what impact can it have on your organization? Continue reading to learn all of the details.
I am not a veteran, though I have the utmost respect for those who have (and do) served this country. I have known my share over the years, and have reflected even upon those whom I never met. I recognize that many have suffered and many were lost. See Remembrance (September 2021). I am beholden to those who have made the life we live possible. Long before my birth, in another age, there was a conflict on this continent that remains deeply ingrained to this day in all that is America.
International Foundation of Employee Benefit Plans
APRIL 28, 2022
On March 10, 2022, the Department of Labor’s Employee Benefits Security Administration (EBSA) released compliance guidance that cautions plan fiduciaries to exercise extreme care before they consider adding a cryptocurrency. Read more > The post Five Reasons Why Cryptocurrencies Can Present Serious Risks to 401(k) Fiduciaries and Participants appeared first on Word on Benefits.
ChatGPT is a powerful tool that can help you quickly brainstorm, draft, and refine tasks on your to-do list. But it can take a bit of strategy and practice to get generative AI to give you the time-saving results you’re looking for. Try these 14 detailed prompts to unlock the power of ChatGPT. You'll discover ways to streamline tasks for hiring, employee engagement, and performance management.
Recently, the Internal Revenue Service (IRS) announced (See Revenue Procedure 2022-24) cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted benefit health reimbursement arrangements (HRAs) for 2023. All of the dollar limits currently in effect for 2022 will change for 2023, with the exception of one […].
During open enrollment , employers often offer fringe benefits like FSAs and HSAs, which can help employees save significantly on qualified medical expenses not covered by their health insurance. So, here’s what you need to know about FSAs, including how they differ from HSAs.
Six London workplaces have been recognised at the annual British Council for Offices’ (BCO) Regional Awards. The London Awards Lunch returned in-person to the London Hilton on Park Lane, recognising the highest quality developments in London and setting the standard for excellence in the office sector across the UK. The winning workplaces include: 80 Charlotte Street (Commercial Workplace); Plumtree Court, 25 Shoe Lane (Corporate Workplace); Dojo, The Brunel Building, 2 Canalside Walk (Fi
Health reimbursement arrangements (HRA) have gained traction with employers across the country because they’re flexible, easy to implement, and customizable. But the key to any successful HRA lies in its administration, including compliance, management, and privacy rules. HRA administrators help organizations facilitate their HRA according to Internal Revenue Service (IRS) regulations so they can have an employee health benefit without the headache.
The benefits landscape is shifting rapidly, and AI is at the center of this transformation. From optimizing health and wellness programs to predicting future benefits needs, AI is empowering HR and total rewards leaders to make smarter, more proactive decisions. The challenge? Understanding where AI fits in your strategy and how to leverage it effectively while keeping employee well-being at the forefront.
Mother’s day is observed and celebrated every first Sunday of May, and this year it is on 8 May 2022. And you’ve come here to witness the best mother’s day quotes to celebrate working mother’s in your workplace. It is time to admire and recognize the working mothers and their sacrifices to reach this far in their respective careers.
Employers often offer ancillary benefits like disability insurance as part of the enrollment process , but unlike health coverage , not all employees will need ancillary benefits. So, what is disability insurance? Here’s what you need to know, including the difference between short- and long-term disability coverage.
“Why do you want to work here?” is a popular interview question for job candidates. Sometimes the interviewer may also ask questions like “What makes you want to work for us?” to evaluate whether you have researched the company and to determine if your values align with the company’s culture. “Why do you want to work here?” is often used as a qualifying question to confirm that the candidate is a “good match” for the company.
When it comes to attracting and retaining employees , offering a competitive salary sometimes isn’t enough. Employees increasingly desire added benefits and perks thanks to a tight labor market, growing inflation, and decreased consumer confidence in the economy. Offering indirect compensation such as employee benefits is an excellent way to attract top talent and improve the productivity of your current employees.
The right HR metrics can illuminate hidden trends, justify decisions to the C-suite, and give you an edge in this unpredictable economy. Download Paycor’s guide and learn how to calculate your: Cost-per-Hire Total Financial Impact of Absences Voluntary Turnover Rate And more!
A new poll claims that one in three (37 percent) employees consider their current job to be at risk from automation and digital transformation. HR software provider CIPHR has compiled a list of the occupations that are the most and least likely to be replaced by technology or machines, based on the results of a survey of more than 1,000 UK workers: www.ciphr.com/jobs-at-risk-from-automation.
15Five is a human-centered performance management platform that creates effective managers, highly engaged employees, and top-performing organizations. 15Five is often used as part of a complete ecosystem of tools used to enable the HR function. Many companies that use 15Five also use an HR Information System (HRIS) for core administrative functions like payroll, benefits administration, etc.
California’s Workers’ Compensation Insurance Rating Bureau is recommending that benchmark workers’ compensation rates for all class codes in the state increase an average of 7.6%. The proposal comes as the economy heats up and, typically during times of growth, workplace injuries also increase. The recommendation, if approved by the state insurance commissioner, would apply to all workers’ comp policies incepting on or after Sept. 1, 2022, though each insurance company has the
What are some of the challenges and opportunities of hybrid work arrangements? In this Lexology GTDT Market Intelligence article, McDermott Partner Carole Spink offers insight about tracking remote work, navigating local rules, and protecting confidential and propriety information. Access the article. The post The Challenges and Opportunities of Hybrid Work appeared first on EMPLOYEE BENEFITS BLOG.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
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