In order to remain competitive, organizations need to build strategy around their pay practices.
By Wendy Brown
2017 was a year of transformation for compensation practices. More and more states banned the salary history question, pay equity laws became more prevalent, and major tax reform bills threw payroll into disarray. With the unemployment rate at historic lows, employees gained many more options when it came to employment opportunities.
The EMEA region calls for special considerations when managing relocation.
By Jonathan Langueneur
As the world becomes more globalised, cross-border transfers are becoming more common. Permanent relocations can be a win-win for both organisations and employees alike; they can help companies achieve talent and workforce management goals whilst offering workers personal and professional development. They are also an effective way for companies to develop or retain talent, especially in the EMEA region where employees have greater freedom to move across borders.
Expanded benefits offerings are helping organizations retain top performers.
By Tim Weber
What does a well-integrated benefits program look like these days? Nothing like yesterday’s. Between healthcare cost pressures and regulatory uncertainties, organizations have to contend with not only a volatile benefits marketplace, but also the rising expectations and individual needs of the workforce. Partnering core health benefits with a robust voluntary benefits program can help employers solve these challenges.
HR can expect transformation in every sector in 2018.
By Amy L. Gurchensky
HR partnerships and engagements have remained in a stable state of predictability for years, but changes within the business landscape are now occurring at an increasingly accelerated pace. Organizations are experiencing industrywide transformation, and HR services are being forced to respond. This reaction is yielding great innovation which is happening at a fast rate. This is also driving the need for transparency and investments in technology across all HR functions.
By leveraging technology and research, HR can demystify the open enrollment process.
By John Hull
Benefits enrollment happens around the same time every year. But even with the same tune being sung, the same instructions being given, and the same procedures being followed, many employees never feel comfortable or familiar with the process. According to the 2017 Aflac WorkForces Report, when respondents were asked about their understanding of overall policies, deductibles, copayments, and providers in their network, only 24 percent of employees surveyed could say that they understood everything.
Organizations that help workers eliminate student loan debt earn a greater payoff: increased productivity, loyalty, and retention.
By Michael Fenlon
With outstanding student loan debt at a national high of over $1.3 trillion, more than 44.2 million Americans are burdened with student loan debt. Along with increased stress, debt is having secondary impacts on many professionals and affecting when they are starting families, buying homes, and how they’re saving for retirement. These obstacles have a negative impact on overall workplace wellness by decreasing productivity, leading to disengagement, and even undermining physical health.
Research reveals five trends that help guide best practices in payroll.
By Mollie Lambardi
Payroll continues to be one of the top services that is outsourced to a third-party provider. In fact, Aptitude Research Partners’ recent study on workforce management found that four out of five organizations are using payroll software solutions or payroll services. When looking at large enterprises—those with more than 1,000 employees—that number is nearly nine out of 10. As organizations struggle to find and keep great talent, creating a positive payroll experience is increasingly important. And as HR organizations seek to position themselves as strategic leaders, the last thing they want is to be bogged down by payroll errors. But an increasingly complex regulatory environment is quickly complicating the world of payroll.
Organizations need to adapt their approach to benefits to suit today’s changing demographics.
By Randy Stram
With the gig economy rapidly expanding, employers are focused on retaining and engaging employees. According to MetLife’s 15th annual U.S. Employee Benefit Trends Study (EBTS), more than half (51 percent) of employees today are interested in contract or freelance work. Not surprisingly, gig work appeals to millennials most, with nearly two-thirds (64 percent) of the generation interested, followed by Gen X (52 percent), and baby boomers (41 percent). Workers are drawn to freelance roles due to the flexible hours, the ability to work from home, and project variety. This is causing organizations to have a laser focus on retaining their talent—the top priority among employers, according to EBTS’ findings. In fact, 51 percent of respondents plan to leverage benefits as a retention strategy in the next three to five years.
Seven perk-driven strategies to engage and retain employees.
By Jeanie Heffernan
A company’s greatest asset is its workforce, and that is why it is vital to equip workers with the best tools and resources to do their jobs. But today’s employees are also looking for benefits that help maintain a positive work-life balance. While traditional benefits such as medical, dental, and vision insurance might be what initially come to mind, many organizations are beginning to think outside of the box to foster a more engaged, productive, and healthier workforce. Recent iCIMS research found that 92 percent of full-time employees believe that companies offering non-traditional benefits are more likely to recruit top-tier talent. These benefits also serve as retention tools; a comprehensive benefits package gives employees a reason to stay with a company other than the paycheck.
Organizations can achieve benefits by offering employees sought-after flexibility, but best practices should be followed.
By Greg Besner
Work-life balance is more important than it used to be. While previous generations didn’t question the nine-to-five workday format, modern job seekers are willing to forgo higher paying positions based on company culture alone, according to research from Fidelity. Whether telecommuting, working four 10-hour days, working part-time or simply adjusting the start or end times of a workday, flexible work schedules can increase commitment and retention.
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