The top five findings from the second quarter’s Employee Well Being Study.
By The Editors
HRO Today magazine has partnered with Yoh Recruitment Process Outsourcing for the Employee Well Being Study, which provides an index to measure United States employment security. According the Bureau of Economic Analysis (BEA), approximately 70 percent of the U.S. Gross Domestic Product is for household final consumption expenditure. This measure is the market value of all goods and services purchased by households. Since the perception of job security greatly impacts purchasing behavior, there is a need to focus on the perceptions around an individual’s job outlook.
The focus of the Employee Well Being Study is measuring perceived employment security, not the more macroeconomic indices such as the Bureau of Labor Statistics Unemployment rate, Gallup’s Economic Confidence Index, BLS Job Openings, and Labor Turnover Survey (JOLTS) or United States Consumer Sentiment.
Six ways organizations can ensure benefits programs are compliant with same-sex marriage laws.￼￼
By Sheryl Southwick
This past June, the U.S. Supreme Court ruled in Obergefell v. Hodges that state bans on same-sex marriage violate the 14th Amendment of the U.S. Constitution. As a result, all state laws must now allow same-sex couples to marry and recognize same-sex marriages that were legally performed in other states.
For employers, this ruling raises sensitive new questions about what changes—if any—need to be made to employer-sponsored group benefit plans. To ensure benefits programs comply with federal and state laws requires HR professionals to have an understanding of applicable laws and recent court rulings related to same- sex marriage. There are six areas where organizations should focus their attention in order to remain compliant.
Plan document and summary plan description (SPD). Eligibility provisions amendments may be required to include all same-sex spouses and eligible children.
How to fix five common mistakes organizations make when communicating information about their benefits programs.
By Adena DeMonte
The effort to offer an attractive benefits program to retain talent while also reducing ever-increasing costs has lead HR to diversify their benefits vendors over the past decade. Organizations can find value in licensing best- of-breed providers for each benefit, but this also creates huge communication challenges. Leaders are saddled with the tricky task of clearly notifying employees of each benefit, and ensuring the tools and services are being properly utilized. This can result in five common missteps when communicating HR benefits, but there are several ways HR leaders can fix them.
MISSTEP: Discussing benefits only during open enrollment. The human brain learns better in chunks. Research finds that absorbing small pieces of information at a time—and regularly reinforcing that information— is proven to improve retention.
Learn the three key differentiators of well-used and well-liked benefits platforms.
By Chris Bruce
With recent innovations in HR technology, executive teams across all industries are rethinking the way they approach their benefits solutions. Traditional methods are being abandoned in favor of platforms that reflect the needs of a constantly evolving workplace. In fact, according to Thomsons Online Benefits’ 2015Global Employee Benefits Watch (GEBW) report, introducing employee-facing benefits portals will be the top investment for 55 percent of HR professionals over the next 12 months.
But as these professionals look toward modern solutions, what factors will influence selecting the platform to best serve their company’s needs? Today’s employees have vastly different expectations than those of just several years ago, so it’s imperative that HR consider three major business-critical aspects for employee and organizational satisfaction.
CHRO Jenn Mann’s strategic approach to human capital is providing HR the means to enable data-driven change.
By Debbie Bolla
When you are in the business of analytics and intelligence software, innovation is a core organizational driver. And for North Carolina-based software developer SAS, a future-thinking philosophy radiates throughout the entire organization—and HR is no exception. Vice President and Chief HR Officer Jenn Mann’s strategic approach of aligning HR with organizational goals has resulted in the development of strong partnerships with each business line that helps HR leverage talent globally and execute people-focused programs that encourage retention. This has driven an impressive roster of achievements, including an industry-low three to five percent turnover rate, an average employee tenure of 10 years, and a spot on FORTUNE 100’s Best Companies to Work For® list along with 18 other global workplace culture awards in 2014. In fact, HRO Today honored Mann and her notable efforts with a 2015 CHRO of the Year award this past May.
A new report finds that wellness programs continue to benefit organizations and employees alike.
By Matthew Owenby
The doctor is in, but not where you might expect. An increasing number of physicians are getting out of their offices—not to make house calls, but to make cubicle visits. That’s because on-site doctors and clinics are a growing trend in workplace wellness finds the 2015 Aflac WorkForces Report—and with good reason. The Center for Studying Health System Change (HSC) reports providing employees with access to medical care at the workplace increases productivity, enhances a company’s reputation as being a desirable place to work, and reduces healthcare costs.
Employees and employers alike are keen on in-house medical services because they save both money and time. According to a Reuters report: “Workers can walk to nearby clinics, rather than spending work hours commuting to doctors’ offices. The convenience prompts many to get symptoms checked quickly.
Our CHRO of the Year Awards makes its way to our European Forum to recognize international leadership. Meet our finalists here.
By The Editors
Global HR leaders understand the value that today’s top talent brings to an organization—ideas, risk-taking, and innovation. It is HR’s job to strategically attract and retain those employees while harnessing their talent to drive bottom- line results. And our CHRO of the Year awards recognizes the individuals that are achieving success in such efforts.
These are the current finalists (at press time). The CHRO of the Year finalists will be evaluated across three dimensions to determine the winners:
The scope of the nominee’s impact on his/her organization/community
The extent to which the nominee drove this initiative
The individual reputational or professional risk taken by the nominee.
The winners will be announced at the HRO Today Forum Europe on November 10th in Amsterdam.
We know that the readers of HRO Today magazine turn to us as the go-to resource in the industry that delivesr trends, insights, and the top resources for all of their human resources operations and service needs. In our annual 2016 Resource Guide we aim to showcase providers and product vendors across 18 sectors of HR services.
Here you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration to multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2016 Resource Guide will serve you well as a starting point in your search for an appropriate vendor.
New approaches are shaping how organizations train employees.
By Gary Bragar
Findings from NelsonHall’s sixth global learning business process outsourcing (LBPO) market analysis show continued LBPO growth, at mid-high single digits across all regions, confirming that organizations are increasing their investments in learning programs. Talent is a main factor driving this growth, with today’s competitive climate making it increasingly difficult for organizations to attract, engage, and retain top performers. Investing in employees by providing them with the necessary means to develop is proving to be a beneficial strategy. In recent years, learning initiatives have demonstrated business value and solid ROI.
The next generation of learning solutions is allowing organizations to incorporate the right mix of learning modalities to engage employees including:
Formal: traditional classroom and virtual instructor-led training
Enabled: job-specific, on-demand, micro-learning content delivered via mobile devices and social collaboration
Technology-based: corporate massive open online courses (MOOCs), gamification, simulations, and virtual worlds
Blended: driven by geographically dispersed workforces and virtual employees
The new workforce wants to be engaged in shorter learning bites with instant access to information.
Effective ways organizations can encourage employees to bank for retirement.
By Jamie McInnes
Many Americans are working longer since they don’t have the financial security to retire as early as anticipated, finds a Gallup poll. There are several implications that come along with an aging workforce that can impact a company’s bottom line. More experienced and tenured workers require higher compensation costs. Plus, when an older employee choses not to retire, younger workers can’t transition into more senior roles. This may cause turnover since those top-performing younger candidates will seek employment elsewhere. All of these factors can impede promoting an inclusive and growth- oriented company culture.
Unfortunately, Bankrate finds that 14 percent Americans are saving less for retirement at a time when employer-sponsored defined benefit (DB) plans are waning as longevity and retiree expenses, particularly healthcare costs in retirement, continue to increase.