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GENERAL TRENDS Rapid technological advancements and shifting employee expectations have added another layer to recruiting and retaining top talent. The world of employeebenefits must evolve to meet the changing needs of the workforce. Multiple retirement options are now being offered by some organizations.
Key Services: Workforce and Talent Strategy EmployeeBenefits and Compensation Management HR Technology Solutions Health and Wellness Programs Global Mobility Services Why It Stands Out Mercer’s focus on employeebenefits and total rewards strategies is particularly noteworthy. How to Choose the Best HR Service Provider?
As a broker-friendly professional employer organization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments. To foster success in 2025, clients should confirm their benefits packages remain relevant or adjust them accordingly.
For employers, it can be a complex and time-consuming process, fraught with paperwork, deadlines, and the need to ensure that all employees are well-informed and supported. In this guide, we’ll explore practical strategies to streamline open enrollment and how a PEO can help busy SMBs make the most of their benefit election cycle.
Key Features: Real-time workforce insights : Provides advanced analytics to help businesses monitor headcount trends and make informed decisions. Employee self-service : Provides a platform for employees to manage their information, improving efficiency.
First off, businesses are legally obligated to pay their employees timely and accurately. When a company hires an employee, each party enters into an agreement centered on payment for labor combined with an employeebenefits package. This information can be collected from new hires during the onboarding process.
I haven’t really listed deals below on this, but there are so many payroll companies and smaller PEOs with leaders reaching retirement age that are selling off the company. HR/HCM/Compliance Aon Acquires NFP in the Benefits Space : Aon, a global professional services firm, acquired NFP to strengthen its employeebenefits solutions.
HiBob HR leaders use HiBob’s powerful enterprise HR software, Bob , to manage all aspects of the employee lifecycle —from recruitment to retirement—within a single, user-friendly platform. Prospective users are encouraged to conduct their own research to make the best decision for their organization.
When it comes to 2025 employeebenefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefits package.
Employees are the backbone and driving force of any business, and with EmployeeBenefits Day fast approaching, now is the perfect time to strengthen your workforce for the long haul. EmployeeBenefits Day provides a meaningful opportunity for you to show appreciation and prioritize the needs of your employees.
Quick look: It’s National Retirement Security Month, making it the perfect time for brokers to equip clients with the tools and resources needed to help their employees plan for a secure financial future. Retirement is a hot topic for all staff. workers is reaching retirement age. workers is reaching retirement age.
Quick look: SHRM recently released its annual employeebenefits survey depicting what benefits remain high-priority and which are trending upward. Though the popularity of some benefits may not come as a surprise, there are a few important changes to note which brokers can help their clients get ready for.
EmployeeBenefits Administration: Handling health insurance, retirement plans, and other perks to ensure employees receive their entitled benefits. Data Security Concerns: Sharing sensitive employeeinformation with a third party increases the risk of data breaches, requiring strict security measures.
What do you think of when employeebenefits are mentioned? Traditional offerings like health insurance and retirement plans are likely the first things that come to mind. Building a great benefits program helps your company attract and retain the best talent possible, keeping team members engaged and happy.
If you’ve never been asked if you would like to participate in an employeebenefits account before, you might be asking yourself, “What are all these acronyms?” Watch the video to hear more from our own Jason Cook about the retirement-planning potential of an HSA.
Quick look: A new year is quickly approaching, and with it comes a new set of contribution limits for retirement accounts, health savings accounts, flexible savings accounts, and commuter benefits plans. Employers and their staff should review these new figures set by the IRS and adapt their 2025 benefits plans accordingly.
Despite this added stress, however, reducing work hours can still be a great option for organizations who need to limit their expenses without laying off employees. They can eliminate costs associated with working hours and employeebenefits, while still maintaining the size of their workforce.
Luckily there are lots of options for doing this, so let’s discuss a handful of strategies to spread the word on benefits to all employees. Image by Freepik Emphasizing the Value of Benefits during Onboarding During the onboarding process , it’s essential for HR to highlight the value of employeebenefits.
Here are a few key strategies: Provide Competitive Wages and Benefits One way to better attract and retain top talent is to offer competitive salaries, attractive benefit packages (including health insurance, paid time off (PTO), and retirement plans), and flexible scheduling options.
The term “employeebenefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. What are employeebenefits? . Employeebenefits are non-salary compensation and perks.
This post was originally published in June 2015 and was updated with new information about multigenerational compensation strategies in May 2025. Did you know you might be managing a workforce made up of employees from as many as five different generations ? This benefit is in the top five most-wanted benefits across generations.
Employeebenefits play a crucial role in attracting, retaining, and motivating top talent in any organization. However, the effectiveness of these benefits heavily depends on how much they address the needs of your workforce and how well they are communicated to your employees.
Handling employeebenefits and other HR services in-house is extremely difficult for many small businesses. According to research by Secure Data Recovery, 88% of employees have worked at a small business without a dedicated HR team. Pricing will also vary, so you should plan your budget before reviewing PEOs.
You may also download the complete report , which provides more in-depth information and actionable guidance. Many seasoned leaders are retiring, and their successors may benefit from training to help them become even more impactful in their new roles.
This includes building and sticking to a budget for your business unit, helping to recruit others into your department, working with managers (or as one) to help work through employee relations issues and coaching. In the next section I talk more about how you can do this with a few specific examples… Read more.
For example, if employment regulations or labor laws change suddenly, being with a PEO can give you access to timely information that empowers you to make the best decisions. Myth 4: “My employees won’t embrace the change.”. Employees leaving because their company enters a PEO relationship is virtually unheard of.
But there’s one area where you can make a huge impact—your employeebenefits package. Additionally, they assist with childcare costs when employees return to work, demonstrating a strong commitment to fostering a family-friendly environment. Take Mustard Made , for example.
So, what can HR professionals do throughout the onboarding process to help employees acclimate better? Retire name tags and really allow for new team members to mingle with each other, and foster introductions with more seasoned employees. Invest in training and development strategies to enrich the employee experience.
As we approach the 2024 United States presidential election, Chris Byrd, senior vice president, health executive and, more broadly, head of Government Affairs at WEX, joined our Benefits Buzz podcast for an insightful conversation on how election years can influence employeebenefits. It is not legal or tax advice.
This step is crucial to ensure the accuracy of the information provided by the candidate and to gain insights into their work ethic, interpersonal skills, and overall suitability for the position. Payroll and Taxes in Armenia It’s crucial for employers and individuals to stay informed about any changes in tax and payroll regulations.
A total rewards program for employees includes four major components: compensation, employeebenefits, well-being, recognition, and development. Compensation Compensation is the total amount paid to an employee by their employer. Additionally, workers should be trained on what’s available to them.
Familiarize yourself with the local market conditions, industry regulations, and economic trends to make informed decisions regarding your hiring strategy. Reference Checks and Background Verification: After the interview rounds, employers in Azerbaijan commonly conduct reference checks to validate the information provided by the candidate.
Its like a health checkup for your companys HR department, ensuring that everything from recruitment to employeebenefits is in good shape. Risk Mitigation: Identifying HR-related risks such as mismanagement of employeebenefits, inaccurate payroll, or poor documentation can help prevent lawsuits, penalties, or fines.
Apple Pay or GooglePay) More recently, fintech has entered the landscape of employeebenefits and compensation. Financial wellness is top of mind for employees and employers. Investing in fintech solution can help simplify benefits and support employee well-being.
He’s responsible for leading the retirement, investment counseling, and risk management teams in the U.S. Aloise] Actuarial science, particularly as it relates to valuing the liabilities of a pension plan, is a critical need in managing the retirementbenefit programs for many organizations that sponsor a defined benefit pension plan.
Our annual research allows us to identify the HR practices, technologies and other factors that correlate to high business and talent outcomes—information that HR leaders can use to make an impact. In this column, I will discuss what our research says about the latest trends in benefits strategies.
This step helps to validate the information provided by the candidate and ensures that the employer is making an informed hiring decision. This step aims to create a supportive environment, helping employees feel connected and motivated to contribute positively to the workplace.
Two of the most common software solutions in this domain are the Human Resource Information System (HRIS) and Applicant Tracking System (ATS). A Human Resource Information System (HRIS) is a comprehensive software tool that serves as the backbone of HR management. What is an HRIS?
Retirement Plans Many job seekers today are looking for a company they can truly invest in. To attract these committed individuals, a comprehensive benefits package is essential, and retirement plans play a crucial role in achieving this goal.
Employers must be well-versed in these regulations to facilitate a supportive work environment and accommodate employees’ personal and family needs. Understanding employeebenefits such as health insurance, pension contributions, and other entitlements is also essential for employers to attract and retain a qualified workforce.
Administrative responsibilities As part of HR’s administrative responsibilities, HR professionals maintain accurate and secure employee records, manage employeebenefits , and oversee payroll processes. Plus, HR makes sure that employees are paid accurately and on time, while checking compliance with tax laws and regulations.
In this article, we walk you through the core HR functions that make or break a people management software solution , providing you with the knowledge you need to make informed decisions when selecting the perfect platform to run everyday HR activities.
Employers stand on the edge of a major shift in employeebenefits. Put simply, outdated benefits just don't cut it. The right tech can solve these challenges and take benefits to the next level. So, how can emerging benefits trends give organisations insight to shape their next move?
Financial Wellness: The must-have employeebenefit in 2022. If you aren’t incorporating financial wellness into your 2022 benefits strategy, your employees are missing out. The COVID-19 pandemic has had a long-lasting impact on your employees’ financial health. But not all of your employees are financially stable.
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