Most Popular Employee Benefits
Benefits represent up to 40 percent of a worker’s total compensation and are important sources of personal and financial stability for today’s workers, according to a 2015 Society for Human Resource Management (SHRM) survey.
Demographic changes have made benefit programs especially attractive for employees because most families have both partners working. As a result, employees will increasingly ask employers to help them balance their work and personal lives, according to the SHRM survey.
And now with Health Care Reform and the ACA, employee benefits are not just a “nice to have,” they are now a “have to have,” or employers face stiff penalties. At HRtoGo, we strive to find the best coverage, in compliance with federal mandates, all at a cost that is affordable for any sized business.
The essential benefits programs are:
Health care benefits
Health: Medical, Dental, and Vision
Voluntary: life Insurance, Short- and Long-term Disability, AD&D, Flexible Spending
Added value: Wellness plans, Prescription
Personal Time Off
Sick Leave (both mandatory and elective)
Attractive Benefits Packages Contain:
Family Friendly Benefits
Flexible Spending Accounts
Telecommuting or Work from Home
On-site Day Care
Personal Services Benefits
Retirement & Financial Planning
Business Travel Benefits
Paid Long Distance or Cell Phone
Permission to Retain Frequent Flier Miles (69 percent).
A Note About Attracting/Retaining the Best Recruits with Good Benefits
According to a Hudson survey of 10,000 U.S. workers, though nearly three-fourths of workers are satisfied with their pay and benefits; however-more money, followed by better benefits, would make them happier, the survey found.
Top benefits ranking after health & pay, revealed workers’ preference for a flexible work schedule (33 percent) or additional family benefits (22 percent)— including parental leaves and PTO—over supplemental insurance (16 percent) and job training (13 percent).
Quite simply, employee recognition is the act – formally or informally – of acknowledging a job well done. Everyone appreciates it when their hard work garners notice, and employee surveys confirmed that fact. A majority of respondents reported remembering praise and recognition received at work long after other events and milestones had faded from memory.
And yet, there is often a disconnect between managers and their employees, who believe they are recognizing performance, and front-line employees, who feel their hard work goes unnoticed. That “recognition gap” occurs largely because many companies have no process for recognizing good work and don’t incorporate the three types of recognition, day-to-day, informal, and formal.
About SHRM The Society for Human Resource Management (SHRM) is the leading voice of the human resource profession, represents the interests of more than 83,000 professional and student members from around the world.