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Employee Benefits

Health Benefits (Click here to open/close)

Ninety percent of U.S. employees who receive health benefits through their employers say that these benefits are as important as getting a salary, according to a workplace survey conducted by HR consultancy Mercer. Moreover, 83 percent of participants say that the out-of-pocket expenses they pay probably or definitely are worth the cost, up significantly from 73 percent in 2008 (see Table 1).

Survey respondents represent a national cross-section of employees enrolled in their employer's health plan. Interviews were completed with 1,502 participants between May 27 and June 15, 2010.

The feeling that health benefits are "worth it" in relation to out-of-pocket expenses is spread across all demographic sections and is particularly high among participants 50 years of age and older (see Table 2).

"It stands to reason that as a result of the recent global recession, high unemployment and general uncertainty, employees have such positive feelings about their employer-sponsored health plan coverage," said Suzanne Nolan, a partner in Mercer's outsourcing business. "This resounding appreciation from employees across the board presents employers with a great opportunity to design and optimally position their health benefits as a critical component of their total rewards and employee engagement strategies."

Skepticism Toward Health Care Reform

In contrast to the positive sentiment participants feel toward their current employer-sponsored health benefits, employees are not comfortable with the impact health care reform might have on them. In fact, more than 43 percent of this covered population sees their situation as becoming "worse off" in light of health care reform.

This skepticism coincides with the general unease and anxiety participants feel about planning for health care expenses in retirement. Just under 37 percent of participants are "somewhat" or "very confident" that they know how they will cover this expense, a statistic that has remained consistent since 2008.

This anxiety toward health care reform is felt most keenly by those closest to retirement. Participants 50 years old and older view health care reform more negatively than participants overall in every related aspect of the survey (see Table 3).

"These concerns are understandable given that we see employers looking to shift some of the costs associated with health care reform to employees," said Tracy Watts, a partner in Mercer's health and benefits business. "It is crucial that employers understand employee skepticism within the context of planning and communicating their 2011 health care benefits offering."

Stephen Miller is an online editor/manager for SHRM.

12 Ways to Optimize Your Employee Benefits Program (Click here to open/close)

Low-cost employee incentives, recognition programs and employee rewards

Employee Benefits Program: Tip #1

8 rules for employee recognition and employee rewards

Surveys of U.S. workers consistently show that employees want more than a paycheck from their jobs—they want to feel safe, secure and appreciated at work.

Good employee rewards and recognition programs provide employees with:

A fair return for their efforts
Motivation to maintain and improve their performance
Clarification of what behaviors and outcomes the organization values

Here are eight guidelines for employee recognition and rewards programs that managers can use in their departments, according to an Adecco management report:

Specify employee rewards criteria
Reward everyone who meets the criteria
Individualize employee rewards
Say "thank you" frequently
Nurture self-esteem
Foster intrinsic rewards
Reward the whole team
Remember: You get what you reward

The bottom line: Remember that employee incentives come in many forms, not just cash. For top performers, increased responsibility and lessened supervision can be rewards in themselves, as can flexible schedules, additional time off, first pick of desirable assignments, and so on.

The point is that employees must indeed feel that you are rewarding them for both working hard and getting results.

Employee Benefits Program: Tip #2

Employee recognition: Have you hugged your employees today?

You might think that employee recognition is about the rewards you give workers for long years of service or for retiring after a notable career. It's really not.

Employee recognition is about engagement. And employee engagement starts with employer engagement. How engaged are you with your employees? Do you know their names? Their goals? What makes them tick?

Recognition doesn't have to be about gold watches or cash bonuses. It's even more effective when it's about relationships.

Continue (or start) to appreciate your employees and recognize them for what they do. Know their names, their stories. Let them know yours. Let them in on the organization's mission, vision and values. Establish trust.

Employee Benefits Program: Tip #3

6 low-cost employee appreciation strategies that work

Here are 6 low-cost ways—suggested by our HR Specialist Compensation & Benefits readers—that your organization can show gratitude to your employees all year.

Embarrassment committees. To celebrate a person's annual anniversary on the job, form an "embarrassment committee" to make a ruckus as colleagues deliver a cookie bouquet and gift card.
Employee Appreciation Week. During one special week, serve breakfast one day, lunch on another and a make-your-own-sundae party on a third.
Children's art contest. A couple of times a year, exhibit around the building artwork that employees' kids have created.
Door prizes for staff meetings. To add some fun and encourage attendance, hold a drawing for a small door prize before all-staff meetings.
"You've been caught" program. Encourage managers and employees to notify HR when they "catch" a colleague in the act of going beyond the call of duty. At monthly staff meetings, introduce all nominated employees, and mention what the person did. Choose one winner at random for a gift certificate to a local restaurant.
Baby blankets. Send blankets to every employee who welcomes home a new child.

Employee Benefits Program: Tip #4

Tailor employee rewards to generational differences

Most organizations choose rewards based on budgets, tradition and management choices. Or they may use surveys that solicit preferences but don't analyze the results according to generational differences.

That's a mistake more organizations are trying to rectify.

Nearly a third (32%) of HR professionals plan to alter their total employee rewards programs with generational preferences in mind, according to the new Top Five Total Rewards Priorities survey by Deloitte LLP and the International Society of Certified Employee Benefit Specialists.

That percentage is likely to increase significantly in the future because the workforce is becoming more multigenerational—especially as older workers remain longer to rebuild their nest eggs.

More organizations are customizing employee rewards programs to accommodate the values, lifestyles, work habits and interests of different generations. Even low-budget programs can offer rewards that appeal to different generations.

Employee Benefits Program: Tip #5

How to make your employee rewards and recognition programs fun

The problem with standardized reward and recognition programs is that they are completely impersonal processes. Instead of thinking about the specific people involved, the company provides the same generic awards to everyone. But when an element of fun and play is added, the experience becomes personalized and much more memorable for the award recipient, without additional financial expense.

If you can make the reward and recognition process fun, your employees will talk about the event long after it's ended, and you will have multiplied its team-building impact many, many times.

Employee Benefits Program: Tip #6

Employee Appreciation Day ideas: Salute your staff

Employers host employee recognition events throughout the year, but the first Friday in March is the official Employee Appreciation Day.

Buy bagels or lunch for the staff, close shop early or just say thanks.

Employee Benefits Program: Tip #7

7 proven ways to retain, reward, recognize your best employees

1. Keys to the car. A CEO who used to give $200 cash spot bonuses started giving high performers the keys to a new BMW for the week. (People would forget about the $200 within a month, but they never forgot the BMW.)

2. Appreciation phone calls from the CEO—to employees at home.

3. "Take a walk in my shoes" video for the staff showing what one employee did during a typical day.

4. "Roast, Toast and Boast" lunches in which managers would roast a long-time employee, toast new hires and boast about a company accomplishment.

5. Do-it-yourself titles. Employees were allowed to create their own titles (e.g., a deli manager called himself the "deli-lama").

6. "Coins" peer recognition program. Employees get three coins each quarter to distribute to co-workers who perform beyond the call of duty. Employees cash in their coins for prizes.

7. Secrets of success videos. Long-time workers reveal theirs on videos that are shown to new hires.

Employee Benefits Program: Tip #8

Want healthier staff? Cash incentives work best

First, employers suggested ... then they encouraged ... then pleaded. Now, more U.S. employers are turning to the almighty dollar to get their employees to change their pound-packing, chain-smoking, sedentary ways.

Despite the sour economy, more employers are creating and expanding wellness programs in recent years. And they're increasingly turning to financial rewards and penalties to increase participation.

Employee Benefits Program: Tip #9

'Strategic praising': 6 steps to effective employee recognition

"The number-one reason managers don't give recognition is that they don't know how," says Bob Nelson, author of 1001 Ways to Reward Employees.

That's why HR professionals need to teach supervisors how to give employee recognition and provide them the tools to make it easier. Studies consistently show that "feeling appreciated" is a key reason employees stick around. And by making employee recognition a companywide effort, you remove a burden from you and make rewards more personal.

Employee Benefits Program: Tip #10

Office gift giving: From weird to wonderful employee gifts

Nearly eight out of 10 (79%) executives polled in a recent survey said some form of gift giving occurs in their offices during the holiday season. But it's not all bottles of wine and Target gift cards out there.

When asked to name the most unusual or unique gifts exchanged in the office, responses ranged from a fully stocked 125-pound aquarium to personalized bobbleheads.

Execs were asked, "During the holiday season, which of the following types of gifts, if any, are typically given in your office?" Their responses:

• 51% Gifts from managers to staff members

• 51% Gifts from staff members to each other

• 43% Gifts from coworkers based on names dropped in a hat

• 39% Gifts from staff to their managers

• 19% None/no gifts given

Don't let the IRS benefit from your employee awards program.

Nothing takes the shine off an employee achievement award faster than having to pay taxes on its value. However, it's entirely possible to design an employee recognition program that doesn't cause tax liability for your employees—and is fully tax deductible for your organization.

Caution: You can't use an awards program to disguise taxable compensation. For example, the IRS will probably look askance at employee awards that are handed out at the same time as annual salary reviews. Similarly, the program cannot be substituted for a cash bonus plan that previously existed.

Employee Benefits Program: Tip #11

Do your homework before selecting gift cards for employees

Still handing out engraved pens and five-year pins to worthy employees? That's not what they want. Workers say gift cards make the best employee gifts, rewards or incentives, according to recent surveys.

But buying gift cards from stores during a recession could be risky. Before you spend your incentive budget on cards that generate more problems than appreciation, do some homework.

Employee Benefits Program: Tip #12

Employee of the Month: Candy bars, $100 bills help recognize 'stars'

Since San Joaquin Gardens, a continuing care retirement community in Fresno, Calif., began handing out candy bars and $100 bills, employee turnover has dipped 6%. "You'd be surprised how little it takes to increase the morale of employees," says Lois Manley, the facility's HR director.

The handouts are part of an employee recognition program that pats workers on the back for exceptional service to residents, who live in independent or assisted-living units. The program also rewards employees for longtime service, perfect attendance, accident-free performance and participation in a wellness program. The effort began as a way to retain hard-to-keep health care employees and recruit new employees to the staff of 240.

The organization names an Employee of the Month from among staff who have been nominated by residents or residents' family members. Every nominee earns a candy bar. The one who becomes Employee of the Month is given a prime parking spot for a month and an extra $100. Once a year, the monthly winners vie for the Star of the Year award, which reaps the victor $500 and a limousine ride to a black-tie banquet.

Source: Business Management Daily.com

Caregivers in the 'Sandwich Generation' Face Double Worries (Click here to open/close)

Workers caring for minor children and elderly parents twice as likely to seek financial advice.

Being a member of the of the working "sandwich generation"—those holding down a full-time job while raising children and serving as a caregiver for older relatives—comes with a steep emotional and financial price tag. New findings from MetLife's 8th Annual MetLife Study of Employee Benefits Trends study quantify some of the pressures and costs while pointing to the workplace as a source for assistance.

In the U.S., about one in five full-time employees is a caregiver for an older relative, and nearly three-quarters of these employees have children under the age of 18 as well.

The MetLife study found significant differences with regard to:

Savings. 42 percent of employees with minor children but without elder caregiving responsibilities say they live paycheck to paycheck, compared to 64 percent of members of the working sandwich generation.
Home ownership. 37 percent of working men and women with minor children are very concerned about being able to afford to buy a home, but that percentage doubles to 74 percent for those who are also caregivers.
College costs. 55 percent of workers with minor children are very concerned about affording college, but that percentage climbs to 72 percent for those who are also caregivers.
Family time. While 45 percent of working parents are very concerned about having more time to spend with their families, that percentage jumps to 72 percent for those who are simultaneously balancing parental and caregiving responsibilities.

"As the U.S. population ages, the percentage of employees who are caregivers will continue to grow, and they will be looking to employers for help and support," said Sandra Timmermann, director of the MetLife Mature Market Institute.

In fact, the study indicated that members of the sandwich generation are more likely to seek financial advice actively. Only 5 percent of this demographic group say they do not consult with anyone about their personal finances, compared to 30 percent of noncaregiving employees with children.

Workers with bookend family responsibilities are turning to multiple resources for financial information and advice, as shown to the right.

"There is a great appetite for information and financial advice among members of the sandwich generation," added Timmermann. "Caregiving not only impacts one's current lifestyle, but one's view of the future," as evidenced by the sandwich generation's elevated concerns about their own long-term care needs.

The 8th Annual MetLife Study of Employee Benefits Trends was conducted during the fourth quarter of 2009. The employee sample comprised 1,305 interviews with full-time U.S. employees age 21 and older, at companies with a minimum of two employees. Stephen Miller is an online editor/manager for SHRM.

Source: Society for Human Resource Management

Low-cost employee incentives, recognition programs and employee rewards

Source: Business Management Daily.com

Employee Benefits Program: Tip #1

8 rules for employee recognition and employee rewards

Surveys of U.S. workers consistently show that employees want more than a paycheck from their jobs—they want to feel safe, secure and appreciated at work.

Good employee rewards and recognition programs provide employees with:

A fair return for their efforts
Motivation to maintain and improve their performance
Clarification of what behaviors and outcomes the organization values.

Here are eight guidelines for employee recognition and rewards programs that managers can use in their departments, according to an Adecco management report:

Specify employee rewards criteria.
Reward everyone who meets the criteria.
Individualize employee rewards.
Say “thank you” frequently.
Nurture self-esteem.
Foster intrinsic rewards.
Reward the whole team.
Remember: You get what you reward.

The bottom line: Remember that employee incentives come in many forms, not just cash. For top performers, increased responsibility and lessened supervision can be rewards in themselves, as can flexible schedules, additional time off, first pick of desirable assignments, and so on.

The point is that employees must indeed feel that you are rewarding them for both working hard and getting results.

Employee Benefits Program: Tip #2

Employee recognition: Have you hugged your employees today?

You might think that employee recognition is about the rewards you give workers for long years of service or for retiring after a notable career. It’s really not.

Employee recognition is about engagement. And employee engagement starts with employer engagement. How engaged are you with your employees? Do you know their names? Their goals? What makes them tick?

Recognition doesn’t have to be about gold watches or cash bonuses. It’s even more effective when it’s about relationships.

Continue (or start) to appreciate your employees and recognize them for what they do. Know their names, their stories. Let them know yours. Let them in on the organization’s mission, vision and values. Establish trust.

Employee Benefits Program: Tip #3

6 low-cost employee appreciation strategies that work

Here are 6 low-cost ways—suggested by our HR Specialist Compensation & Benefits readers—that your organization can show gratitude to your employees all year.

Embarrassment committees. To celebrate a person’s annual anniversary on the job, form an “embarrassment committee” to make a ruckus as colleagues deliver a cookie bouquet and gift card.
Employee Appreciation Week. During one special week, serve breakfast one day, lunch on another and a make-your-own-sundae party on a third.
Children’s art contest. A couple of times a year, exhibit around the building artwork that employees’ kids have created.
Door prizes for staff meetings. To add some fun and encourage attendance, hold a drawing for a small door prize before all-staff meetings.
“You’ve been caught” program. Encourage managers and employees to notify HR when they “catch” a colleague in the act of going beyond the call of duty. At monthly staff meetings, introduce all nominated employees, and mention what the person did. Choose one winner at random for a gift certificate to a local restaurant.
Baby blankets. Send blankets to every employee who welcomes home a new child.

Employee Benefits Program: Tip #4

Tailor employee rewards to generational differences

Most organizations choose rewards based on budgets, tradition and management choices. Or they may use surveys that solicit preferences but don’t analyze the results according to generational differences.

That’s a mistake more organizations are trying to rectify.

Nearly a third (32%) of HR professionals plan to alter their total employee rewards programs with generational preferences in mind, according to the new Top Five Total Rewards Priorities survey by Deloitte LLP and the International Society of Certified Employee Benefit Specialists.

That percentage is likely to increase significantly in the future because the workforce is becoming more multigenerational—especially as older workers remain longer to rebuild their nest eggs.

Employee Benefits Program: Tip #5

How to make your employee rewards and recognition programs fun

If you can make the reward and recognition process fun, your employees will talk about the event long after it’s ended, and you will have multiplied its team-building impact many, many times.

Employee Benefits Program: Tip #6

Employee Appreciation Day ideas: Salute your staff

Employers host employee recognition events throughout the year, but the first Friday in March is the official Employee Appreciation Day.

Buy bagels or lunch for the staff, close shop early or just say thanks.

Employee Benefits Program: Tip #7

7 proven ways to retain, reward, recognize your best employees

Keys to the car. A CEO who used to give $200 cash spot bonuses started giving high performers the keys to a new BMW for the week. (People would forget about the $200 within a month, but they never forgot the BMW.)
Appreciation phone calls from the CEO—to employees at home.
“Take a walk in my shoes” video for the staff showing what one employee did during a typical day.
“Roast, Toast and Boast” lunches in which managers would roast a long-time employee, toast new hires and boast about a company accomplishment.
Do-it-yourself titles. Employees were allowed to create their own titles (e.g., a deli manager called himself the “deli-lama”).
“Coins” peer recognition program. Employees get three coins each quarter to distribute to co-workers who perform beyond the call of duty. Employees cash in their coins for prizes.
Secrets of success videos. Long-time workers reveal theirs on videos that are shown to new hires.

Employee Benefits Program: Tip #8

Want healthier staff? Cash incentives work best

First, employers suggested … then they encouraged … then pleaded. Now, more U.S. employers are turning to the almighty dollar to get their employees to change their pound-packing, chain-smoking, sedentary ways.

Despite the sour economy, more employers are creating and expanding wellness programs in recent years. And they’re increasingly turning to financial rewards and penalties to increase participation.

Employee Benefits Program: Tip #9

'Strategic praising': 6 steps to effective employee recognition

“The number-one reason managers don't give recognition is that they don't know how,” says Bob Nelson, author of 1001 Ways to Reward Employees.

That’s why HR professionals need to teach supervisors how to give employee recognition and provide them the tools to make it easier. Studies consistently show that “feeling appreciated” is a key reason employees stick around. And by making employee recognition a companywide effort, you remove a burden from you and make rewards more personal.

Employee Benefits Program: Tip #10

Office gift giving: From weird to wonderful employee gifts

Nearly eight out of 10 (79%) executives polled in a recent survey said some form of gift giving occurs in their offices during the holiday season. But it’s not all bottles of wine and Target gift cards out there.

When asked to name the most unusual or unique gifts exchanged in the office, responses ranged from a fully stocked 125-pound aquarium to personalized bobbleheads.

Execs were asked, “During the holiday season, which of the following types of gifts, if any, are typically given in your office?” Their responses:

51% Gifts from managers to staff members
51% Gifts from staff members to each other
43% Gifts from coworkers based on names dropped in a hat
39% Gifts from staff to their managers
19% None/no gifts given

Don’t let the IRS benefit from your employee awards program

Nothing takes the shine off an employee achievement award faster than having to pay taxes on its value. However, it’s entirely possible to design an employee recognition program that doesn’t cause tax liability for your employees—and is fully tax deductible for your organization.

Caution: You can’t use an awards program to disguise taxable compensation. For example, the IRS will probably look askance at employee awards that are handed out at the same time as annual salary reviews. Similarly, the program cannot be substituted for a cash bonus plan that previously existed.

Employee Benefits Program: Tip #11

Do your homework before selecting gift cards for employees

Still handing out engraved pens and five-year pins to worthy employees? That’s not what they want. Workers say gift cards make the best employee gifts, rewards or incentives, according to recent surveys.

But buying gift cards from stores during a recession could be risky. Before you spend your incentive budget on cards that generate more problems than appreciation, do some homework.

Employee Benefits Program: Tip #12

Employee of the Month: Candy bars, $100 bills help recognize 'stars'

Since San Joaquin Gardens, a continuing care retirement community in Fresno, Calif., began handing out candy bars and $100 bills, employee turnover has dipped 6%. “You’d be surprised how little it takes to increase the morale of employees,” says Lois Manley, the facility’s HR director.

The organization names an Employee of the Month from among staff who have been nominated by residents or residents’ family members. Every nominee earns a candy bar. The one who becomes Employee of the Month is given a prime parking spot for a month and an extra $100. Once a year, the monthly winners vie for the Star of the Year award, which reaps the victor $500 and a limousine ride to a black-tie banquet.

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