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Do you ever wonder how your employeebenefits package compares to other businesses in your area? The 2017 Zenefits Small Business BenefitsBenchmark Report was released today, offering a snapshot of plan types, contributions, premiums, deductibles, copays, and out-of-pocket costs across different regions.
According to SHRM’s 2022 EmployeeBenefits Survey : 96% of employers offered paid sick leave. While the BLS’ analysis is a reliable benchmark, it would be a mistake to solely rely on it. Notably, a large percentage of private-sector workers also have access to unpaid family leave, which often includes sick leave. How many U.S.
The March 2017 Zenefits Small Business BenefitsBenchmark Report is now available. Representing data from more than 8,000 Zenefits customers, the report examines how plan types, contributions, premiums, deductibles, copays and out-of-pocket costs differ across regions. Get the Report Now.
The March 2017 Zenefits Small Business BenefitsBenchmark Report is now available. Representing data from more than 8,000 Zenefits customers, the report examines how plan types, contributions, premiums, deductibles, copays and out-of-pocket costs differ across regions. Contact a ZenefitsBenefits Advisor.
In a 2021 Kaiser Family Foundation survey , “nearly 90% of large employers surveyed believe the cost of providing health benefits to employees will become unsustainable in the next five-to-10 years.” Benchmarkbenefits. This will give you a solid grasp of what other employers are paying for employeebenefits.
The March 2017 Zenefits Small Business BenefitsBenchmark Report is now available. Representing data from more than 8,000 Zenefits customers, the report examines how plan types, contributions, premiums, deductibles, copays, and out-of-pocket costs differ across regions. Benefits are Key to Attracting and Retaining Talent.
When thinking through a new employee’s compensation package , it’s important to remember that hiring someone will cost you more than their base salary, as compensation includes the cost of their benefits as well. The national average of employeebenefits cost. Taken together, the average total compensation is $37.73
You know the consequences of outdated employeebenefits systems , and are ready to invest in modern technology. But with so many benefits administration technology vendors out there, how do you choose the right one? Assess your benefits technology needs. Evaluate your future benefits administration needs.
Employeebenefits have quickly become a crucial factor for people when deciding where to work. The most favorable employeebenefits and perks include healthcare insurance ( medical, dental, vision ), vacation and paid time off, performance bonuses, paid sick days, and 401(k) plans. Do your employeebenefits stack up?
Imagine a world where managing employeebenefits is no longer a daunting task but an empowering experience for HR teams and employees. With an innovative employeebenefits platform, that world becomes a reality. Importance of Having an EmployeeBenefits Platform in Place 1. Let's delve in.
It’s far more valuable to know how your specific benefits offerings compare to those of your competitors. Employeebenefitsbenchmarking data can provide insights into your plan performance, employeebenefits data and participation, and other key measurements. Evaluating ROI and benefits strategy.
adopting a fully remote or hybrid model, new out-of-state offices or employees, change of company name, merger, etc.). In addition: Benchmark data for companies of similar size and in similar locations. Confirm who will serve as point(s) of contact for employees’ benefits questions. Over the next 2-4 weeks. For employers.
The Society for Human Resource Management (SHRM) , the world’s largest HR professional society, just released its annual employeebenefits report. The 2017 EmployeeBenefits report highlights some interesting shifts in employer benefits offerings, including an increase in wellness and health-related programs. .
According to a Glassdoor survey, 57% of job candidates claim that perks and benefits are some of their top considerations when weighing a job offer. Spend a bit of time and money building an employeebenefits package that makes your employees happy and naturally more productive. MetLife’s U.S. Username or Email Address.
The fact is, some benefits contribute to a healthy company culture and employee work-life balance. And then some benefits are really half-baked perks. Here are some of the least effective benefits and perks on the market today. What are the 7 worst employeebenefits and perks? And benefits do matter.
It helps create contracts that meet local standards, manage employeebenefits accurately, handle paperwork efficiently, and keep all records well-organized. Automating performance tracking saves time and effort, eliminates bias, allows for more precise decision-making, and gives managers and staff a solid benchmark to work from.
Bottom line: if your employees aren’t happy with their benefits, it increases the chances of them accepting a stronger offer from your competitor. You can prevent this by conducting employeebenefits satisfaction surveys and making feasible adjustments based on the results. Which 3 benefits do you need the most?
Until then, the ACA’s employer reporting, individual coverage mandate, and essential health benefits protections remain in effect. Employeebenefits are critical for recruitment and retention, but how do you know if you’re being competitive enough?
Technology is making remarkable strides across the employeebenefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benchmark your benefits with what your competitors are offering. Attract and retain high-performing employees.
While today’s technology has eased so many workplace headaches, it also can make the everyday employee more prone to burn out. This is where employeebenefits come in. Are you keeping pace with the most in-demand optional benefits out there? Employeebenefits. The post What Do Employees Want?
At Zenefits, we believe that managing health insurance for employees should be simple. But when it comes to the more ambiguous aspects of employeebenefits, such as workplace wellness, employers typically need a less-automated answer. Shifting this cost of care to employees isn’t just about saving companies money.
Full- and part-time employees. Furloughed employees. Terminated employees, whether voluntary or involuntary. Expense reimbursements for onsite and remote employees. Benefits administration. According to the Bloomberg Tax 2019 Payroll Benchmarks Survey Report , the most popular outsourced functions are: Tax filing.
Do the employeebenefits offered to meet your needs? Do you feel that your company provides resources to help employees who may be struggling with mental health issues? This way, you can understand more about the employee experience outside of calculating your eNPS score. Are you satisfied with your current role?
Choosing what will be included in your health benefits package (medical, vision, dental) and what types of group insurance plan you’ll choose will often be a balance between what you can afford as an employer, and what is most valuable to your team. How many employees would you be covering? How many employees would you be covering?
With its intuitive employee feedback survey software, businesses can easily design, distribute, and analyze surveys to drive data-driven decisions—empowering teams to grow and thrive while ensuring a fair and inclusive work environment. There are plenty of key areas to explore to keep your organization running smoothly: 1.
However, many other systems run on a monthly basis, such as benefits packages (typically). If payroll is linked directly to employees’ benefits packages, semi-monthly paychecks will make the two easy to sync. Monthly pay is the least time-intensive for HR staff, but also the least popular among employees.
While the specifics of a payroll budget vary by small business, there are some typical inclusions — such as base wages and salaries, overtime, employeebenefits, incentive pay, payroll taxes , payroll administration costs, and unexpected expenses. Differential/premium pay for employees who work outside normal business hours.
Internal equity Internal equity means you provide the same level of compensation to all employees who fill comparable positions or use similar skill sets to perform the same jobs or similar ones. Employees’ perceived equity The way your team perceives equity is vital.
Health insurance is one of the most in-demand employeebenefits, and employers deliver. Fifty-five percent of small firms and 99% of large organizations offer healthcare benefits to their workers. But most companies are running against obstacles when employees try to use their insurance. Username or Email Address.
“One employee might value professional development, while another might value wellness benefits, and yet another wants a pet-friendly work environment. Badouix not only recommends surveys and interviews with employees but also benchmarking with similar companies to find out what else is resonating with workers.
For example, consider the most in-demand benefits: In 2022 , 88% of employees wanted health insurance benefits, 82% wanted retirement-related benefits, and 52% liked the idea of financial but non-retirement benefits. A sound life insurance policy continues to be a desired employeebenefit.
Employeebenefits often extend to a worker’s family — including children. And these family-oriented benefits are needed more than ever. However, there are many ways to improve mental and behavioral health outside of healthcare benefits. 8 child-centered employeebenefits companies can offer.
These decisions often include uncomfortable actions like restructuring, downsizing, and employee termination. Trim employeebenefits programs. Lay off employees. This strategy is often based on data gleaned from competitive benchmarking, wage projections, or other forecasting and predictive analysis.
For those who manage employeebenefits , it’s important to know that the primary benefit of adding cryptocurrency into a 401(k) plan is also its downfall: its high volatility. If you aren’t sure whether or not crypto-inclusive retirement plans are right for your employees, that’s OK. Username or Email Address.
Once employees leave the company, they cannot take their FSA with them unless they are eligible for Consolidated Omnibus Budget Reconciliation Act (COBRA). However, employeesbenefit from higher HSA contributions in comparison to an FSA. Still, because of the higher annual deductible, many may hesitate on signing up for an HDHP.
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