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Category: Benefits

Benefits

MBA HR Update: MA NOW REQUIRING EMPLOYERS TO PROVIDE PAID LEAVE TO VETERANS ON VETERANS DAY

Starting this year (2016), Massachusetts requires employers with 50 or more employees to provide leaves of absence with pay on Veterans Day.

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Vision plan enrollment on the rise – millennials making the jump

Vision plans are becoming one of the most fashionable benefit offerings out there, and in large part because of millennials eager to participate in the plans. Recent research suggests that this benefit’s popularity is on the rise largely because employees want the opportunity to afford fashion-forward eyeglass lenses and frames. The growth of enrollment in this benefit has been steady. Eighty percent of employees who have a vision benefit option elect to enroll. Vision benefits are the only among medical, dental and others to see an increase in enrollment in 2016. Millennials are shaking things up when it comes to benefits. Twenty five percent of millennials say that they have sought a new employment opportunity to gain a better benefits package. In addition, over 20 percent say that vision benefits are the “most appealing” benefit in the package. When it comes to vision plan benefit offerings, employees are seeking premium options. A recent study found that over 85 percent of employee ...

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It’s not just cool benefits that employers should focus on

HR Managers are eager to build benefit programs that will attract and retain talented employees within their organization. But no matter how cool the benefits might be, a robust benefit package won’t be enough. New HR managers should focus on driving the culture of their team. Make truth a priority among the workplace. Create an environment where employees feel safe to address any issues or concerns that might arise. Ask you employees how they’re feeling and what they think about things. Encourage executive leadership to foster an inclusive environment. All of these things will help build the best work environment for your employees. But for those who still want cool benefits, here are a few ideas: Get employee discounts or coupons for local restaurants. It’s nice to choose some close to the office so employees have options to go out for lunch.  Bring an oil-change service on site and offer oil change services for employees in the parking lot while they work. If you comm ...

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Employers benefit from providing financial education to employees

Providing employees with financial education is a benefit that can have a positive impact on employers as well. This type of education can help employees become more invested in improving their personal finances. In addition, employees tend to be more productive at work when they’re less stressed about their finances. Here are some benefits companies might find if they make the investment in financial education for their employees: More participation among financial programs in the workplace: The more employees are educated and aware of their finances and their specific needs, the more likely they are to seek the company benefits that will best suit them. Ensuring that employees are educated will help employers ensure they have adequate participation in benefit plans to offer the most valuable productions and options.  Financial burdens and stress can have a significant impact on overall physical health and wellbeing. In 2015, nearly 25 percent of adults felt “extreme financial s ...

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Small and midsized companies need to shift their focus to benefits

One of the most prominent issues facing companies of all sizes is attracting and retaining the type of workforce they need to be successful. For smaller and midsized companies, this task can be especially challenging as large companies often steal the show. Small and midsized businesses are encouraged to leverage unique benefits to help keep their talented employees with the company. Recent research indicates that small and midsized businesses are offering health insurance benefits for employees and their families. This ensures they can remain competitive with larger companies. However, companies this size might have a more challenging task to identify what additional benefits might be the best investment for their company. Experts have some tips to help these organizations select meaningful and useful benefit offerings: Employees main focus is health insurance and securing their financial future with retirement savings: A recent survey among employees indicates that the top three benefit prioriti ...

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