Street Smarts: Your peers weigh in with 5 real-world comp & benefits solutions — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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Street Smarts: Your peers weigh in with 5 real-world comp & benefits solutions

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in Compensation and Benefits,Employee Benefits Program,Human Resources

Try these compensation and benefits tips to recognize employees and save time and money.

Control health insurance costs
“In the past, we provided medical insurance at no cost to our employees. However, we needed to find a way to share our ever-increasing premiums with our employees without them feeling that the company was unfairly transferring medical insurance costs to them. Therefore, we notified our employees in advance that the company would continue to pay the same 'base' premium amounts, but the employee would pay future insurance increases. Not only did we gain better control of our medical insurance costs, our employees better recognized the value of their health care benefits and, in some cases, now that they had to contribute, they opted out of our company’s medical plan since they had coverage through their spouses’ plan.”
—Jim Willow
Central Islip Plumbing Supply, N.Y.

Encourage peer recognition

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