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Benefits
84% of employees who are happy with their benefits report high job satisfaction. Learn how to unlock the true power of benefits.
Benefits Administration: A Guide for HR Leaders
Why Employee Benefits Matter Believe it or not, your benefits package can have a serious impact on your ability to recruit, engage and retain talent. Hard to believe? It shouldn’t be. SHRM reports more than 50% of U.S. job candidates say benefits are among their top considerations before accepting a job. That’s why selecting the right benefits package is one of the most important things you’ll do for your employees over the life of your business. Choose the right benefits and your employees might never want to leave. Offer the wrong ones… you might as well install a revolving door. Businesses that get benefits right reap big rewards. Whether you’re aiming to boost your employees’ overall performance or you’re looking to improve...
How to Build Irresistible Benefits Packages for Employees
Employee Benefits Packages: Foundational to Workplace Satisfaction While a competitive salary is an essential part of attracting top talent, in today’s hot hiring market, the employee benefits package is just as important.More than ever before, employees are being offered robust and interesting job benefits as organizations strive to keep pace with the shifting culture of work today. Historically, offering health insurance and a 401k were the expected aspects of a benefits package. Today, employees are being offered benefits packages that include generous vacation policies and flexible working arrangements.In this article, we’ll share the most important aspects of an employee benefits package. You’ll learn what to offer in order to fully...HR
Are Domestic Partner Benefits Mandatory?
A Brief History: Only What You Need to Know The roots of domestic partner benefits stretch way back to 1982, when the City of San Francisco enacted legislation to offer health insurance coverage to the same or opposite sex partners of its unmarried employees. “Domestic partner” soon became the official legal term used by insurers and private and public employers.Also, in 1982, New York City newspaper The Village Voice became the first private employer to offer domestic partner health care benefits. Many other companies and municipalities followed suit. Fast forward to more than 30 years later when, in 2015, the United States Supreme Court ruled that domestic partner benefits apply to both same-sex and unmarried opposite-sex couples....
Importance of Employee Financial Wellness Programs for Small Businesses
The majority of people seem to be relatively well-informed about personal wellness: physical activity, eating right, drinking the recommended amount of water every day. But many people are unfamiliar with the term “financial wellness.”Financial wellness refers to someone’s overall economic health as well as their lack of worry associated with money. Poor financial health is a known cause of personal and professional stress. Issues with finances can be a distraction at work. In addition to the monetary burden, the side effects of poor financial health often include: Absenteeism and presenteeism Depression Anxiety Stress-related illness Reduced productivity Marital conflict As life goes on it gets more complex, especially regarding...
Short-Term Disability Benefit Laws by State
What Is Short Term Disability Benefit? When unable to work due to an unexpected illness or injury, employees rely on insurance to cover at least part of their usual salaries. If this injury or illness is job-related, they can claim Workers’ Compensation. However, non-job-related absences require Short-Term Disability (STD) insurance or Temporary Disability Insurance (TDI) plans. Many companies offer short term disability insurance as part of their benefits packages, but several states (and Puerto Rico) have legislation making it mandatory. Though these laws vary as to how the insurance is funded and which employees are covered, in all cases it is only possible to receive the benefit after a 7-day waiting or eligibility period during...
Case Study: Midwest Health Services
Paycor’s dedication to product innovation, ease of use and a streamlined HR, Payroll and Benefits experience impressed Midwest Health Services. “The benefits module that you have is amazing. I love how it flows through the carrier connect to payroll. I can send out my open enrollment and it’s one and done. I would not be able to do my job if I didn’t have a system that took care of everything and tracked everything for me. It’s so much easier and saves me so much time.” - Dona Mitchell, Payroll Coordinator Prior to Paycor Based in Massillon, Ohio, Midwest Health Services works with developmentally delayed individuals, helping them to live independently by securing jobs, homes and obtaining nursing or physical therapy if necessary. With...
Take Our HR Benchmarking Quizzes
Paycor's research shows that 75% of high-functioning HR teams spend their time on mastering key pillars of HR excellence. Want to know how your team stacks up against others? Take our benchmarking quizzes to find out and get customized action plans based on your results. Recruiting Benchmark Quiz Benefits Benchmark Quiz Labor Costs Benchmark Quiz People Management Benchmark Quiz Compliance Benchmark Quiz
Why Should You Partner with Paycor?
There are plenty of HR tech companies to choose from, but to succeed in today’s rapidly changing and complex environment, your clients need more than just technology. They need a partner with deep industry expertise that takes the time to understand their specific challenges.From year-end support, robust reporting tools and even a personal concierge service, Paycor offers you and your clients modern HR and payroll technology coupled with thought leadership and expertise.A partnership with Paycor helps you stand out from the crowd. But don’t just take our word for it — check out this video to see what some current Paycor partners have to say.
Product Case Study: Benefits Advisor and HR
Paycor’s HR and Benefits Advisor Allows the Kansas City Zoo to Streamline Open Enrollment. “My favorite thing about Benefits Advisor is the employee self-service—giving them the responsibility. It’s really easy to see what people are enrolled in at a glance and it has a clean look to it, which I like.” - Janna Stewart, HR manager, Kansas City Zoo CHALLENGE For years, the Kansas City Zoo used a manual paper- based method to onboard new employees, conduct performance reviews and during open enrollment. It was time consuming and required physical space to store all employee data and files. HR PAIN POINT Manual open enrollment & performance reviews Required multiple data entry points SOLUTION Streamline open enrollment Employee...
2020 Report: The Future of HR
The landscape of HR is shifting from everyday HR functions to strategic HR initiatives like recruiting, people & labor cost management and more. To gauge the present and future of HR, Paycor interviewed more than 500 leaders of medium and small businesses.In this trends report you’ll learn: Where the best HR & business leaders plan to invest the most money Why CFOs are losing faith in HR’s ability to work with data (and what you can do) Which 2020 compliance regulations are keeping leaders up at night and what you should do to mitigate risk Why 48% of business leaders believe many core HR functions will be automated by 2022 And more!
Is Unlimited PTO a Good Idea?
If you’re debating whether or not to offer unlimited paid time off to your workforce, there are a few pros and cons to keep in mind.For starters, it is becoming more prevalent. The number of jobs on Indeed that advertise unlimited PTO increased 178% between 2015 and 2019. But still, only 1%-2% of companies in the U.S. offer unlimited vacation and most of those companies are in the tech industry (ex. Hubspot, Netflix, Roku), according to Society for Human Resource Management. Why Do Companies Offer Unlimited PTO? Offering unlimited vacation is an innovative tactic for recruiting talent. Afterall, who hasn’t daydreamed of taking off work whenever the mood suits? In fact, the 2019 MetLife Employee Benefit Trends Survey revealed that 72% of...
2019 HR & Compliance Web Summit: Executive Summary
With 20,000+ registrations, this was Paycor’s biggest and best web summit yet!Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. If you missed the live webinars you can watch them on our on-demand webinar page.In the meantime, here’s a quick overview of each session. 5 Steps to Become a Strategic HR Leader | Speaker: Lori Kleiman In today’s business environment only 20% of HR professionals interact with the executive suite. Lori Kleiman says it’s time to stop waiting for your gold embroidered invitation and finally take your seat on the leadership team. Ready to become a strategic HR leader? Follow this 5 step plan: Engage...
Buyer's Guide To HCM And Payroll Technology
An HCM platform is the foundation of your business, and choosing the technology is one of the most important decisions you'll make.
Get ExpertiseOpen Enrollment and Benefits Administration
Simply defined, employee benefits are any form of non-cash compensation beyond a regular salary or wage that employers offer their workforce. There are some benefits that employers are required to provide by law, such as making payments on an employee’s behalf for unemployment, Medicare and Social Security. And there are other benefits that employees have come to expect, such as health insurance and paid time off. Organizations looking to lead the pack will often promote “benefits in kind” such as telecommuting, flexible schedules or wellness programs in order to differentiate themselves from the competition.
But anyone in HR can tell you, there’s nothing simple about benefits. From stressful open enrollment periods to endless employee questions, benefits administration is no joke. Finding the right HR partner who can streamline the process and help educate your employees on their benefits options is crucial. Paycor offers the technology and expertise you need to simplify open enrollment while analyzing the real-time data you need in order to maximize the value of your benefits program.