Compliance is one of the hardest parts of HR. Help is available.
Smart benefits and diligent compliance. Get ideas and strategies for both.
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Benefits, compliance & the importance of communication
We’ve discussed the importance of benefits for small and medium-size businesses—they can help attract the talent you really want and can keep your employees happy and healthy, which also keeps them productive. But there’s more to it. Compliance is a crucial part of running a business. It’s also important to make sure employees understand how to use their benefits. This week, we tackle those subjects.
of employees listed medical insurance as the most important benefit they want when looking for a job.
Employee Benefits Trends 2024: What Small Businesses Need to Know
Today, 47% of employees feel "somewhat satisfied" with their current benefits, and only 31% are "very satisfied."1 Although in-demand employee benefits can ebb and flow based on the year, that doesn't mean you shouldn't change your offerings. By considering adopting some of the emerging trends in employee benefits, you'll make an impression on your workforce that providing meaningful benefits to them is important to you.
Employee Benefits Communication: Best Practices for Small Businesses
Although creating a strong benefits package is important, employees who don't understand the value of their benefits may not use them to their full extent. In fact, nearly half of employees today don’t understand their benefits. This can increase workplace stress and cause strain on productivity, which is why communication is key.
The Ripple Effect of PEO Employee Benefits Administration
Administering employee benefits can be complicated and time-consuming. Nevertheless, it must be done well.
According to research by the International Association of Certified Professional Accountants (AICPA), 80% of candidates would choose a job with benefits over the same job without benefits but with a 30% higher salary.
This statistic speaks to the value of benefits administration, which goes far beyond getting the paperwork right. Mistakes in benefits administration can cause problems with compliance and employee engagement. Just as importantly, excellent service in this area can reverberate through your entire organization.