Many employees continue to feel financially strained because of inflation. With open enrollment fast approaching, inflation could impact employees' choices regarding their benefits. Specifically, employees are likely to consider which benefits matter the most and how to optimize the money they spend on those offerings. As a result, this year’s...
A health savings account (HSA) is an excellent tool for helping manage your out-of-pocket healthcare expenses. Consider thefollowing five tips for getting the most out of your HSA:
Work environments can significantly impact the mental health of employees. In fact, research by the American Psychological Association found that 2 in 5 employees report that work negatively affects their mental health. Workers’ poor mental health can, in turn, negatively impact employee communication, performance, morale, and productivity....
Employees who feel disregarded by their organization are more likely to get frustrated, feel burnt out, and quit. Forbes listed being unheard by supervisors and feeling “overlooked or ignored” as two of the top ten reasons employees leave their jobs. This can devastate employee retention rates, increasing hiring costs and making it challenging for...
Identifying gaps in benefits offerings can be complex, as it requires a careful assessment of employee preferences, trends, and organizational resources. However, this task is vital; benefits offerings can lead to increased employee engagement and satisfaction. Consider the following strategies for identifying and addressing these gaps: ...
A recent survey by the Kaiser Family Foundation (KFF) found that nearly half (43%) of insured adults who rated their mental health as “fair” or “poor” were unable to receive necessary mental health services or medication in the past year. Amid a shortage of mental health professionals, many patients are struggling to find mental health care...
Healthcare costs are expected to grow 7% in 2024 due to rising pharmaceutical expenses driven by specialty drugs and insurers increasing rates in response to inflation, according to an annual report from professional services firm PricewaterhouseCoopers (PwC). This trend is higher than 2022’s and 2023’s projected medical cost rates, which were...
Voluntary benefits are becoming increasingly important to employees as they focus on their physical, mental, social, andfinancial health. As a result, many employers have expanded their voluntary benefits offerings to address employees’ needsand improve their attraction and retention efforts.
Employees are one of an organization’s most valuable assets, but the majority of workers who are looking to grow to search for new opportunities outside of their current companies. According to a recent study by the University of Phoenix, more than half of surveyed employees were looking for a new job or expected to be looking for a new job in the...
Mentions of employee benefits in job postings on recruiting website ZipRecruiter reached the highest rates on record. An analysis of this trend revealed that many U.S. employers are leaning on enhanced benefits offerings to attract and retain workers.