Benefits

How to Craft Employee Benefits Plans for a Multi-Generational Workforce

We all hear it time and time again: With four generations composing today’s workforce (and Gen Z fast nipping at their heels), companies have a lot to consider when it comes to hiring and retention. A major key to retention, as we all realize, is a solid employee benefits plan. So, it’s important that you provide a program that appeals to your entire employee base. But when you’ve got to manage the expectations of so many different generations with differing needs, a one-size-fits-all benefits program simply isn’t going to cut it. What is the multi-generational workforce? When we talk about the generations making up most employee bases, we’re referring to these date ranges. No source can precisely agree on birth years, but generally...

HR COE Benefits Benchmark Quiz

Is your benefits program all it could be? The path to achieving excellence in benefits administration is a continual journey that evolves over three phases. Find out what phase you’re in and get a customized action plan. TAKE OUR QUIZ TO FIND OUT: Quiz will load down below shortly Content loading... Please enable javascript! Recruiting Benchmarking Quiz What’s preventing you from attracting and hiring top talent? To get to the next level, evaluate your team’s approach to benefits and open enrollment. Where are you losing time? What routine tasks are holding you back? Once you answer these core questions, you can devise a plan to leverage technology to drive efficiencies. Based on your responses, you’re in Phase 1: To get to the next...

5 Ways to Make Open Enrollment More Manageable

HR communications experts, GuideSpark, say of CHROs spend “a lot of time” doing nothing other than responding to employee questions during open enrollment. That’s because open enrollment is such an important time of year for your employees. Robust and well-communicated benefits plans have been shown over and over again to have a direct impact on employee satisfaction and engagement. In fact, in their 2017 WorkForces Report, insurance company Aflac discovered that 80% of employees who are extremely or very satisfied with their benefits are also extremely or very content with their careers. But… they also found that 15% of employees would rather file their taxes than go through open enrollment. Learn to Hack Open Enrollment Manual...

How to Improve Employee Engagement with Benefits

If your workforce is more focused on where to go for lunch than achieving business results, that’s a problem. Many studies, including Paycor’s own People Management Report, confirm what we already know: Employee engagement is strongly connected to productivity, profitability and customer satisfaction. It’s hard to argue that employee engagement is a bad thing. A recent Gallup survey compared businesses that ranked in the top 25% of employee engagement to those in the bottom quarter and found those in the top are 21% more profitable, 17% more productive, have 10% better customer ratings, experience 41% less absenteeism and suffer 70% fewer safety incidents. Also, engaged employees are less likely to be actively searching for a new job....

6 Things to Look for in an Online Benefits Administration Solution

With so many benefits administration providers out there fighting for your business, deciding which one to partner with can be stressful. From rising health care costs to managing evolving regulations, employers are faced with a lot of considerations, which makes finding the right provider not so cut and dry. If you’re unsure what to look for or are struggling to find the right fit for your business, let this article help direct your search. Assess Your Needs There’s no doubt that finding the right HR benefits technology will drastically improve your work life, but no two providers are the same. First, it’s important to assess your own needs and do your homework. If you’re looking to track and report on which benefits offerings are most...

Case Study: Ellison Surface Technology Finds Solution to Their Benefits Problems

Ellison Surface Technology has become an industry leader in engineered coatings and special process applications, but as the organization continues to develop, they faced challenges with their open enrollment and benefits process. To help eliminate manual data entry and automate the company's benefits process, Ellison turned to Paycor for a better solution. Download the case study to learn how Paycor's benefits solution helped increase efficiency and alleviate the stress of the benefits process. Click here to download our 2-page case study. Subscribe to Our Resource Center Digest Enter your email below to receive a weekly recap of the latest articles from Paycor's Resource Center. Check your inbox for an email confirming your...

Restructuring Benefits 101

As employers continue to sort out the implications of health care reform on their businesses, organizations across the country will no doubt be thinking about restructuring employee benefits. In a recent Deloitte survey, 82% of companies said they planned to redesign some or all of their health care benefits. As benefits agreements are shifting the focus to wellness and disease management, redesigning employee benefit plans will be a major project in the months and years to come. As benefits can be a touchy subject for employers and employees alike, restructuring must be approached with the utmost care and sensitivity. Keep these tips in mind to ensure your new benefits arrangement satisfies both sides. Benefits restructuring: 3 tips for...

Unlock the True Power of Employee Benefits

Organizations that view their benefits packages solely as a cost of doing business are missing out on a true competitive advantage. As Paycor found from client data, one-on-one interviews and user groups used to create the HR Center of Excellence, high-performing HR teams recognize the critical role a diverse and competitive benefits package has on recruiting and retaining top talent. In a recent article, Employee Benefits Adviser sat down with Paycor's Chief Human Resources Officer, Karen Crone, and Director of Product Marketing, Tim Ruge, to explore how Paycor's HR Center of Excellence challenges HR professionals' thinking when creating benefits strategies. Job candidates and employees are analyzing benefits packages with greater...

6 Tips for Selecting the Right Employee Benefits Broker

As we discussed in our previous article, Find Time to Lead: Partner with a Benefits Broker, benefits are one of your largest business expenses, second only to salary. So it makes sense to choose a broker who is as invested in your company as you are. Rather than just pulling a name out of a hat, it’s as important to vet and interview potential brokers as it is the employees you hire. We’ve gathered a list of questions to ask to help you ensure you get the best broker for your business. Here are the key questions to ask: What certifications and licenses do you have? You want to ensure that your broker is currently licensed to do business in the states where you have offices. A valid license indicates that your broker was trained,...

Simplifying Benefits Management with 401(k) Integration

Paycor offers 360ointegration with select 401(k) providers and 180ointegration with many others.Our 360ointegration means that deferral changes, loans, matches, demographic information and census information flow back and forth automatically between your 401(k) and payroll solution. Simply put: reduced errors and less administration. View all of our 401(k) integration providers

Why Best-of-Breed Benefits?

Your clients don’t all fit in the same box, so why should their benefits platforms? As Bob Dylan famously sang, “The times they are a-changin’.” The “one stop shops” and “all-in-one” benefits solutions of yesterday are quickly becoming outdated modes of delivery. Brokers on the cutting edge, however, get it. They know that best-of-breed benefits are where it’s at, and they’re constantly on the lookout for new solutions that can help their clients succeed. Much like so many cable television packages these days, fully integrated ERP systems can be cost prohibitive – especially for smaller companies – and they’re quite often bloated with features your clients either don’t need or will never use. For example, a mom and pop shop with a...