Employee Benefit News’ Post

Just a few years ago, menopause #benefits weren't a workplace discussion. Nor was #mentalhealth. As if women hadn't always managed through #menopause. As if mental health wasn't important until apps arrived. This begs the question: Who else is quietly coping, or struggling, with something employers could help with, but that employees will never ask for? Beanstalk co-founders Matthew Sydney and Cheryl Turner dive into the importance of giving employees the ability to create their own benefits portfolios this week in Employee Benefit News. Key takeaways: 🤐 There's now a point solution for nearly every need. But many of those needs will never be voiced by employees. 😧  Those unspoken needs matter: Alcohol misuse cost the U.S. $249 billion in 2010. 35% of employees say they're less productive because of financial stress. And 40% of U.S. parents of kids under 18 say they are extremely or very worried that their children might struggle with anxiety or depression at some point. 🗝  The key to unlocking the incredible potential of very specific benefits solutions is to change how benefits selections are made — and by whom. ➡ It's time we let employees choose for themselves. The ability now exists to do so, with Beanstalk Benefits. Read more in Employee Benefits News below and learn more about Beanstalk Benefits here: https://lnkd.in/exrv3p3M

Companies are starting to approach their benefits from a competitive angle, not just what they can offer that benefits the most amount of people. This is why more specific benefits are becoming increasingly prevalent. #employeebenefits #employeewellness

According to the recently published SHRM benefits survey, health care is still the most vital benefit offered to employees (88% deemed it "very important" or "extremely important"). Others in the top five include: retirement benefits, paid time off, flexible working, and family care. As more firms look to differentiate themselves with new and creative benefits the stalwarts remain atop the list. What firms supplement on the fringes can be the difference in an already tight AEC talent market. Daniel Stunes, manager of data monetization with SHRM says, “Traditionally, companies would approach benefits from the standpoint of, ‘What is something we can offer that benefits the most amount of people?’ So, how can I be more competitive in the marketplace?’ That’s when we see some of these specific benefits. If you have this big, long list of extra benefits, some may apply, some may not for employees, but I think that shows you’re trying to reach some of the groups and make a difference.” #aecindustry #hr #benefits #SHRM

As the workforces ages these types of benefits can help employees retain top talent with vital institutional knowledge.

"...a thoughtful benefits strategy can boost employees' intent to stick around by 11%, and raise their output by 12%." Benefits are the 2nd largest cost for employers, just behind payroll. Going into '24, employers need to be mindful that not all workers are looking for the same cookie-cutter approach. One way to increase employee satisfaction, drive better outcomes, and contain costs is to look at offering direct primary care services aligned with value-based care and payment models. #healthcareinnovation #healthcare #valuebasedcare #valuebasedhealthcare #employeehealth #employeebenefits #payor #providercredentialing #providercontracting #providerrecruitment #providers #directprimarycare #cigna #cignahealthcare #evernorth #evernorthaccountablecare

On March 21st, Companies That Care Day is celebrated to inspire employers to prioritize the welfare of their employees. A happier workforce tends to be more productive. Here at BayCoast, we recognize that employees' physical and mental health can have a significant impact on their performance, and therefore, we take steps to show that we care. Acknowledging our employees' successes and honoring their contributions to the company is what helps us create a sustainable and productive workforce. Learn more about our programs here: https://brev.is/zQMDd

Take a look at the article I just published that addresses two changes employers should be aware of! https://lnkd.in/g_KpJEYC

Here is a very interesting article from SHRM about expanding employee benefits based on the 2024 SHRM Employee Benefits Survey. "For the first time since SHRM started its annual benefits survey in 1996, it included menopause-specific support in the data, finding that 17% of employers provide related support, such as counseling and education. Significantly fewer employers, just 2%, offer menopause or menstrual leave above what is already covered by regular sick time." Read the full article here: https://buff.ly/3VMVzur

STAFF🚨 As Business Owners, we know just how valuable staff can be and how much they can bring to our Business BUT... Then there is ALL of this to consider: 🎯Maternity Leave, 🎯Paternity Leave, 🎯Adoption Leave, 🎯Shared-Parental Leave, 🎯Health & Safety, 🎯Homeworking, 🎯Diversity & Inclusion, 🎯Sickness Absence, 🎯Menopause, 🎯Disciplinary & Grievances, 🎯Data Protection, 🎯Stress at Work, 🎯Discrimination, 🎯Staff Holiday, 🎯Redundancy, 🎯Whistleblowing... CONFUSED🤯 I am not surprised but I CAN help, Let's have a chat🌱

What would you prefer? Better pay, expanded leave options, or moving to a four-day week? #benefits designed to better support employees' #health, family lives and finances, which includes extended #bereavement leave policies, menopause benefits, four-day work weeks and more in CNN Business.