It seems the recession has taught the nation’s bean counters a few things about what works when it comes to employee retention and satisfaction. In a new survey by Robert Half Management Resources, chief financial officers admit their biggest take-away from the recession is that they need to take better care of their workers.
Employee Benefits Program
A strong employee benefits program – including low-cost employee incentives, employee recognition programs, and employee appreciation programs – can help you improve morale and retention.
We provide employee appreciation day ideas, help you with employee retention strategies and employee benefits management
If current demographic trends continue, employers in the future will have larger minority workforces—and see declining employee participation in retirement benefits plans. According to a recent study by the Employee Benefit Research Institute, only 28% of Hispanic employees and 41% of black workers take part in retirement plans. Use the following four strategies to increase minority employee participation in your retirement plan.
Even during a recession, it’s possible to beef up your benefits. Instead of spending money on new perks, spend some time thinking creatively about the perks you already offer—and present them to employees in a new light. Employees are likely to perceive that you’re adding benefits if you make existing ones more valuable. Here are some ways to get started:
Here’s added incentive to have crystal-clear attendance policies: Employees who are terminated for violating unclear or confusing attendance rules may end up collecting unemployment compensation. Here’s why: In many states, former employees can successfully argue that they were terminated through no fault of their own if they can show that the attendance policy was difficult to understand and comply with.
The nearly 2,000 employees who participated in Simonton Windows’ wellness program last year had such good results that the company was able to pay for its entire wellness initiative with the money it saved on health care. Simonton President Mark Savan says the program has reaped measurable improvements in employee health screenings for blood pressure, body mass index, smoking and cholesterol.
For too many employers, benefits communication consists of handing an annual statement to workers and saying, “See you next year.” However, a new survey says U.S. workers’ biggest complaint about their employee benefits isn’t cost or access—it’s that employees don’t really understand the benefits they already have. Here are inexpensive ways HR can educate employees year-round:
The new health care reform law finalized on March 25—the Patient Protection and Affordable Care Act—includes sweeping changes for both employers and individuals. Although some new-law provisions take effect right away, most are prospective. But even future changes can affect tax planning this year.