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Category Archives: Surveys: Employee Benefits
Benefits Barometer
A barometer measures atmospheric pressure. In the world of employee benefits, the pressures are ever-changing and ever-increasing. Whether dealing with health care reform compliance, meeting fiduciary obligations in your 401(k) plan or launching a wellness initiative, the pressures and demands of your job just keep growing. One pressure that never eases – for benefits pros and CFOs alike – is the demand for data. With that in mind, this year’s Benefits Barometer offers you more than a dozen charts designed to help you benchmark your benefits costs, health plans, retirement plans and overall benefits management. Special thanks to the agencies, consulting firms and advocacy groups that contributed to this year’s Benefits Barometer: Continue reading
Employers often fail to estimate costs of absences
Despite state and federal mandates that require employers track data on when employees are out of the office, companies fail to use the data to manage the associated cost implications, according to a new survey.
The survey of 331 human resources and benefits executives and managers of companies with over 500 employees by Liberty Mutual found an organizational disconnect between collecting absence data to satisfy state and federal regulations and using that data to understand costs and savings to function more effectively.
In the survey, 49% of respondents say they do not know the cost of absence in their organizations. Yet, 53% of respondents say they are focused on being compliant with state and federal leave laws. This turns into what Liberty Mutual calls a failure by companies to convert “data into dollars.”
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Under-35 crowd becomes more benefits savvy
By Lydell C. Bridgeford February 8, 2011 The economy and health reform may have prompted the youngest workers at U.S. companies to take a deeper interest in workplace benefits, according to online research conducted by Harris Interactive on behalf of … Continue reading
Employers with voluntary benefits stand out
oluntary benefits help organizations retain employees and attract fresh talent, a new survey finds.
According to the WellPoint Inc. research, 83% of American employees think more highly of employers that offer voluntary insurance benefits than those that don’t.
This extends to job seekers as well, almost all of whom (nearly 90%) consider it important that companies offer a full range of health benefits, including voluntary, when accepting a new position. A full 56% consider it “very important.”
Voluntary benefits can improve employees’ overall perception of benefits as well. Whereas 82% of employees whose companies offer voluntary benefits are content with their packages, that satisfaction declined by 30% for those companies which fail to offer such benefits. Continue reading
Employee Retention Tips
We all know that business is all about people. The success and failure of every organization depends on the quality of people found in the organization. Sourcing for and recruiting the best hands in an organization is not just all it requires. For an organization to grow and stand out in its industry, the best set of people should be sourced, selected, recruited and retained.
Employee retention is of paramount importance and a critical issue in an organization. Retaining your best hands ensures customer satisfaction, improved sales, satisfied co-workers, effective and balanced relationship between staff and management, effective succession planning, general growth of the culture and ethics of the organization. Continue reading
