Goodbye, suits and ties. Hello, sneakers

As the workplace evolves, one thing many managers have in common is that they are throwing out their traditional business dress code. Continue reading this blog post from Employee Benefit News to learn more.


Casual Friday? Try casual Monday through Friday.

As the modern U.S. workplace evolves, one thing many office managers have in common is that they are throwing the traditional business dress code out the window.

About 88% of employers today offer some type of casual dress benefit, up from 81% five years ago, according to the 2018 employee benefits survey from the Society for Human Resource Management.

The most recent company to join the ranks of the suit-and-tie-less workplace is banking giant Goldman Sachs. The decision — once believed unthinkable for such a straight-laced organization — comes as the company looks to keep up with “changing nature of workplaces,” according to a Goldman memo last week.

“Casual dress attire at work is just one of the many ways employers are trying to retain and attract top talent in this competitive job market,” says Amelia Green-Vamos, an employer trends analyst with Glassdoor. “The unemployment rate is at a historic low, and casual dress attire is an inexpensive perk creating a more approachable and comfortable culture for new and existing employees.”

All employers want to attract the best possible talent and in today’s job market that talent is younger. Indeed, more than 75% of Goldman Sachs’ employees are members of the millennial or Gen Z generations. When it comes to hiring younger talent the more traditional companies — such as big banks — are competing against tech giants and hedge funds that are offering a different kind of workplace.

Facebook, for example, has had a relaxed dress code since the beginning. “We don’t want our people to have a work self and a personal self,” says Facebook spokesman Kyle Gerstenschlager. “That aspect of our culture extends to our lack of a formal dress code.”

Google is another company with a simple dress policy. “You must wear clothes,” was the response Susan Wojcicki — current CEO of YouTube — gave in a 2007 interview with Bay area media outlet The Mercury News. She was VP of ad services at Google at the time.

But, it’s not just the Silicon Valley tech companies that have embraced a more laid back attire policy. When Mary Barra — current CEO of General Motors — was vice president of global human resources at the automaker, she set out to replace the company’s 10-page dress code exposition with two words: “Dress appropriately.”

It’s a simple idea, but Barra was perplexed when she received pushback from HR and one of her senior-level directors, she explained at the 2018 Wharton People Analytics Conference. But this actually led to what Barra called an “ah-ha” moment, giving her better insight into the company and teaching her a lesson about making sure managers feel empowered.

Office culture has been evolving for decades, with offices with sleep pods and ping-pong tables now commonplace. But it’s practicality rather than entitlement that is leading offices to adapt their dress codes.

“I have a hard time imagining a position where wearing a tie could be considered an essential part of the job’s responsibilities,” says SHRM member Mark Marsen, director of human resources at Allies for Health + Wellbeing. “Even using arguments that it contributes to or enhances corporate image, client perceptions, or establishing a form of respect. What matters at the end of all, for everyone concerned, is that a successful service was rendered.”

SOURCE: Shiavo, A. (12 March 2019) "Goodbye, suits and ties. Hello, sneakers" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/goldman-sachs-embraces-casual-dress


Pay transparency: A new tool to boost employee engagement

Some companies require new hires to sign an agreement promising not to disclose their pay to co-workers. Continue reading this blog post to learn more about pay transparency.


For many companies, discussing salaries has always been taboo. Some firms even required new hires to sign an agreement swearing they wouldn’t disclose their pay to co-workers. 

This “loose lips sink ships” approach is largely illegal, of course: Employees are generally free to talk about pay rates as part of their rights under the National Labor Relations Act.

Nonetheless, for years, companies held salary information very close to the vest.

But times are changing. Many firms have now gone to a policy of transparency in matters of compensation.

2 separate approaches

Stephanie Thomas, program director of the Institute for Compensation Studies at Cornell University, writes that pay transparency comes in two flavors: salary disclosure and pay process transparency.

1. Salary disclosure: In this approach, the company distributes a spreadsheet listing employees, their titles and their salaries.

This approach can be tricky. There are always going to be cases where an employee asks, “Why is Stephanie paid more than me? We have the same title and the same duties.”

Whole Foods explains the rationale for adopting its policy in a statement on its website:

“Salary information for all –including the company’s leadership – is available to all inquiring team members. Wage transparency helps promote inclusiveness and ensures our compensation system is fair.”

2. Pay process transparency: The second approach explores how compensation decisions are made, and explains to individuals why they’re making what they are and what they need to do to earn more.

This involves having detailed discussions with employees, either individually or in a group, about the overall compensation plan – salary ranges and midpoints, goals and objectives that need to be met, performance metrics, etc. Most companies prefer this approach because it focuses the conversation away from rankings of employees toward individual performance.

Both approaches signal a new trend in employee engagement – helping workers understand the inner workings of their organizations.

SOURCE: Mucha, R. (15 February 2019) "Pay transparency: A new tool to boost employee engagement" (Web Blog Post). Retrieved from https://www.hrmorning.com/pay-transparency-a-new-tool-to-boost-employee-engagement/


7 ways to reduce stress this tax season

Does tax season leave you stressed out? Tax season is here, leaving many employers face-to-face with a number of demands. Continue reading this post from Employee Benefit News for seven ways employers can reduce stress during tax season.


Tax filing season is here, which means many employers will come face-to-face with a number of demands. Whether they do their own taxes, use online tax software or meet with a trusted tax adviser, there are many useful resources out there that will help employers work smarter, not harder.

Here are seven ways employers can reduce stress during tax season.

2019 U.S. Master Tax Guide

The U.S. Master Tax Guide contains timely and precise explanations of federal income taxes for individuals, partnerships and businesses. This guide contains information including tax tables, tax rates, checklists, special tax tables and explanatory text.

Legislative resources

Find a trusted, reputable resource for the latest news, opinions and laws regarding healthcare. Many companies in the industry have a designated section on their website that is dedicated to providing employers with updates and trends in the health insurance industry and how it will affect taxes.
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Payroll calculators

Employers can use payroll calculators to determine gross pay, withholdings, deductions, net pay after Social Security and Medicare and more. Calculator types include salary payroll calculators, hourly paycheck calculators, gross pay calculators, W-4 assistants, percentage bonus calculators and aggregate bonus calculators.

Keep, shred, toss

Now is the perfect time to organize tax records so that they’re easy to find in case they’re needed to apply for a loan, answer IRS questions or file an amended return.

The IRS has some helpful guidance you can share with your clients on what records to keep and for how long. They should remember to:

  • Keep copies of tax returns and supporting documents for at least three years.
  • Keep some documents for up to seven years.
  • Keep healthcare information statements for at least three years. These include records of employer-provided coverage, premiums paid, advance payments of the premium tax credit received and type of coverage.

Make sure records are kept safe — but when it’s time, shred or destroy

Whether they consist of paper stacked in a shoebox, electronic files stored on a device or in the cloud, it’s important to safeguard all personal records, especially anything that lists Social Security numbers. Consumer Affairs recommends scanning paper and keeping records stored securely on a flash drive, CD or DVD.

It’s more important than ever for employers to keep personal information out of the hands of identity thieves. That means not tossing records in the trash or recycling bin. Home paper shredders are often inadequate for large piles of paper, but many communities have professional, secure document shredding services.
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Start as early as possible

A deadline looming always makes the situation more stressful. It’s very important for employers to not wait until the last minute to start their tax return. If they choose to use a tax professional, be sure that they get in early. Tax professionals take on many clients, and only have a short timeframe to get all the work done.

Be honest

It may be tempting for employers to tell a white lie on their taxes to maximize their tax breaks or return, but that comes at a great risk. If they are audited by the IRS, they will liable for whatever was reported.

SOURCE: Waletzki, T. (12 March 2019) "7 ways to reduce stress this tax season" (Web Blog Post). Retrieved from https://www.benefitnews.com/list/how-to-reduce-stress-this-tax-season?brief=00000152-14a5-d1cc-a5fa-7cff48fe0001


New tech helps HR pros practice hiring and firing — in virtual reality

A new platform from Talespin allows employees to practice challenging social situations, like the act of hiring and firing an employee, beforehand. Continue reading this blog post to learn more.


What if HR professionals could practice hiring and firing someone before they even set foot in the office? Virtual reality and artificial intelligence may be closer to making that a reality for some employers.

Talespin, a developer of virtual reality technology has released a new platform that allows employees to practice challenging social situations. The platform, called its Virtual Human Technology, is meant to mimic typical conversations that an employee might have at work. The software can simulate anything from performance reviews, to leadership training, sales conversations or even firing.

“We’re thinking holistically about the employee life cycle and how spatial computing is going to affect that,” says Kyle Jackson, CEO of Talespin.

Talespin aims to evoke real human emotions and give employees a sense of the best way to handle a difficult situation, Jackson says. The platform demo, for example, puts users in the shoes of an HR manager and asks them to fire an employee named Barry. Barry is an AI-powered virtual character that displays realistic human responses, like anger, when a user tells him that he has been terminated.

Users can be successful or unsuccessful at terminating Barry and the platform provides feedback on how they can improve these skills over time. The system can be tailored to provide responses based on the specific needs of the employer, Jackson says.

“The system can record all sorts of things: from your sentiment, to what you say, what branches did you activate, what different paths of process did you go down. With all that data it’s a question of what’s the learning objective and what’s the learning outcome that you’re looking for?” he says.

While the platform is best used in virtual reality, users can access it via desktop, mobile or audio only. Jackson says the company is deploying the platform with five employers in the telecommunications, automotive, insurance and consumer packaged goods industries. Farmers Insurance is already using Talespin technology to train new hires. Employers using the software pay per monthly active user plus the cost of the module, Jackson says.

Some employers are investing in AI and virtual reality as a way to attract and retain new talent. Pharmaceutical company Takeda, for instance, combined 360-degree photographs and an interactive map of its Cambridge, Massachusetts campus to create a virtual reality office tour for current and potential employees.

Jackson says they’ve heard from employers that poor treatment from a manager has in some cases, led to employee turnover. A VR platform like Virtual Human Technology can help managers develop their soft skills for interacting with employees and potentially improve retention.

“It’s not a technology problem, it’s not an efficiency problem. It’s really a people problem,” he says. “It’s the one area that’s really hard to fix.”

SOURCE: Hroncich, C. (8 March 2019) "New tech helps HR pros practice hiring and firing — in virtual reality" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/hr-tech-helps-practice-hiring-and-firing-in-virtual-reality?brief=00000152-14a7-d1cc-a5fa-7cffccf00000


6 key features your employee training program needs – and how LMS can help

One way employers can keep the right employees around and happy is by providing opportunities for professional development and training. Continue reading this blog post to learn more.


Hiring the right employees is important, but keeping them around and happy is just as essential. One way to do that is to provide opportunities for professional development and training as a way to encourage workers to improve their skills and engage further with their jobs.

While you likely have a solid training program for new employees to get them accustomed to your organization, the training options for ongoing employees are often more limited.

It’s always a good idea to encourage all employees to continue learning new skills, perfecting old ones and developing as professionals. Having well-rounded workers with a range of skills boosts your business and opens up opportunities for their advancement.

Beyond making workers happier and more productive, there are revenue benefits associated with comprehensive training, too. Companies that offer workers training programs have 24% higher profit margins than those that don’t, according to the American Society for Training and Development.

And if you don’t yet have a learning management system (LMS) solution, consider investing in one. It can help streamline the training process and strengthen your entire program while offering a range of other benefits.

Whether you already have a training program you’re looking to improve, or you’re aiming to implement one, there are certain elements every successful training and development program has.

Short, specific sessions

You know better than anyone that employees’ attention spans aren’t long. No one wants to sit through hours of training, no matter how valuable the information is.

Focus instead on short, specific bursts of information that will interest workers and guarantee they retain the information.

This strategy, called microlearning, emphasizes brief (usually three to five minutes) sessions designed to meet specific outcomes. You can use it for both formal training and informal, but it’s generally more successful when applied to informal skills training instead of intense or complex processed-based training.

There are four essential characteristics of microlearning to hone in on. Make sure your training is:

  • Lean: It shouldn’t need a mob of people to implement
  • Adaptable: There should be ways to apply the training to many employees across a range of departments and locations. Although specificity is a key component of microlearning, it can’t be so specific that only one employee will benefit, otherwise, it’s not worth the time and resources.
  • Simple: Avoid over-complicating things and confusing workers.
  • Seamless: Use the technology at your disposal. Your solution shouldn’t require in-person sit-downs, but instead should be transferable to employees’ mobile devices and laptops when possible.

Many LMS solutions are accessible on mobile devices and desktops and allow you to create your own courses to provide the exact content you want to employees.

Remember: Microlearning doesn’t have to be the centerpiece of your training program. After all, there are some topics that simply can’t be condensed into bite-sized pieces. But integrating this method can help spice up your program and supply a new way of doing things.

Assessments

An effective training program is only as good as what employees retain, so you’ll want a way to measure where they started and how the training has impacted them.

A pre-training assessment can also shine a light on what workers are looking for and what they still need to learn. This allows you to target specific skills training and development to the employees who need it, while not wasting the time of workers who’re all caught up.

Post-training assessments, meanwhile, help you see who’s mastered the training and who still needs help. They can also show you where your training program could be improved.

To ensure assessments are as helpful as possible:

  • Avoid yes or no questions, instead of allowing workers to provide a variety of feedback.
  • Look over how the training objectives line up with workers’ perceptions of their professional development.
  • Offer both task- and skill-based evaluations that look at performance and adaptation of the skill, rather than memorization ability.

Note: These evaluations don’t need to take the form of traditional tests. Very few people enjoy taking tests, so taking the time to turn assessments into a game or more fun activity encourages workers to participate and provide their honest opinions without worrying about being “graded.”

With some LMS solutions, assessments can be taken online with the information stored right where you can access it easily. Often, you can also compile the results into reports that give you at-a-glance clarity on who benefited most from the training and who still needs improvement.

Collaboration

Providing chances for your workers to interact and form connections has multiple benefits for your training program and organization at large.

When employees have bonds with their co-workers, they’re more engaged in their tasks and more productive. Getting them to collaborate during training can help convince them to take the course seriously while encouraging teamwork beyond the training.

Collaboration tools, such as built-in messaging systems and discussion boards, are prevalent among LMS solutions and give workers the chance to learn together and develop along the same paths.

Multimedia options

You’ll also want to expand your horizons beyond basic text-based training. We’re living in an age with constantly evolving technology, and your training program should take advantage of the options at your disposal.

Workers will be more engaged with the content you offer if it’s more than words on a page. And with LMS solutions, creating and importing multimedia content into your training is easier than ever.

This doesn’t mean you can’t implement text into your training, of course, but rather that you should also have:

  • video
  • interactive content
  • images, and
  • audio.

Video and images are already extremely popular in training, and if you have a current program it’s likely there are already videos and photos in it. Don’t forget about graphs and other diagrams that could help clarify certain concepts.

Interactive content can take a range of forms, from quizzes given to workers after each module to games employees play to help them retain the information they’ve learned.

These games can also increase collaboration during training, which helps participants stay engaged in what they’re learning and form connections with co-workers. Bonding with co-workers is one of the benefits offered by in-house training programs and these bonds often strengthen employee engagement with your company.

Another option is audio content, like podcasts. Offering audio content allows workers to train while performing other tasks, since they don’t have to be in a specific room or looking at something to follow along.

If you’re worried about carving enough time out in employees’ workdays to add training or professional development, podcasts and other audio content are a good bridge to get them learning new skills while still able to complete their jobs.

Easy access

A training program won’t work if its inaccessible. If workers have to show up on a specific day and time to a certain conference room, it’s significantly less likely they’ll take you up on the offer.

And if the training is mandatory, employees won’t be excited to learn and may resist absorbing the info.

This is where an LMS solution comes in handy the most. It provides a central location for training and courses to be stored and accessed. Workers can check out training from all of their devices and tackle the topics individually or in groups, depending on what works best for them.

Having an LMS solution also helps if you employ remote workers or have multiple locations, since you don’t have to coordinate a time for them to come in or run multiple training sessions at once.

Professional development

Workers, especially younger ones, want a way forward in their careers. They don’t want to just learn skills applicable to their current jobs. They want options and the chance to develop further and pick up skills that will serve them well as they advance.

Clearly define how your training program will factor in professional development, so employees can see what the payoff will be down the line. This also motivates them to stay with your company in the long run, since you’re enabling them to develop and practice new abilities and investing in their futures.

Most LMS solutions have the ability to create customized learning paths depending on where employees are in their careers and what they’re aiming to learn and accomplish.

Laying out the ways forward can also help with recruiting and hiring, since prospective employees can see the opportunities for advancement and growth available to them.

Bottom line

Training matters for every employee, not just new hires or recent transfers. A strong comprehensive training program is essential to building up your workforce and keeping workers engaged in their jobs.

When given the chance to boost their skills and develop professionally, employees are also happier and more productive, making the potential expense of implementing training programs worth it.

Plus, LMS solutions can help improve your training and offer a variety of features to employees and trainers alike in a cost-effective way.

Your training doesn’t have to reinvent the wheel to be helpful for your workers and provide benefits for your business. It just has to work for your company and employees.

SOURCE: Ketchum, K. (18 February 2019) "6 key features your employee training program needs - and how LMS can help" (Web Blog Post). Retrieved from https://www.hrmorning.com/employee-training-program-lms/


Today’s workforce never learned how to handle personal finances

A bill was recently proposed in South Carolina that would require all students to take a personal finance course before they graduate. Continue reading to learn how this proposal could help today's workforce learn how to handle personal finances.


A bill was recently proposed in the South Carolina state legislature to require all students to take a half-credit personal finance course and pass a test by the end of the year in order to graduate.

This proposed legislation could prove to be a breakthrough idea because frankly, much of the high school-educated—or even college-educated—workforce has never had a formal education on how to take care of their personal finances, pay off their student loans, open an appropriate retirement account, select an insurance provider or generally prepare for personal financial success.

Without taking these now-required personal finance classes in high school, how is the current workforce expected to learn how to stay afloat and become financially stable?

For those in other states or for individuals who are past high school, the most logical solution for solving this problem is to put the onus on employers and business owners to teach their employees how to properly handle their financial well-being.

Having a staff full of financially prepared employees is in any businesses’ own interest, and there are statistics to show it. Numerous research studies have proven that companies with robust employee financial wellness programs are more productive because employees don’t have to spend company time handling personal financial problems. This results in an average three-to-one return for the organization on their financial wellness investment, according to studies from the Cambridge Credit Counseling Corp.

Employees who practice good financial wellness are also proven to stay with the company longer, be more engaged at work, less stressed and healthier—all of which add significant dollars to a company’s bottom line.

While understanding that HR, executives, and accounting have little time to spend teaching lessons in the workplace, how does a company go about offering financial wellness information to their employees?

There are several options available to companies when it comes to financial wellness. One of the most sought-after benefits in recent years is online financial wellness platforms that digitize the financial education process. This allows employees to work on their financial education on their own time from the privacy of their home computer, using a friendly and simple interface. And benefits solutions providers have access to a number of these resources – all companies need to do is inquire with their provider.

It is important to remember that not all financial wellness platforms are created equal in what they offer. Depending on the specific needs of an organization, they should assess the offerings available through each service provider to ensure they receive the program they intend to offer to their employees. Most platforms offer partial solutions and tools that could include financial assessments, game-based education, budgeting apps, student loan assistance, insurance options, savings programs, and even credit resources to help those who don’t have money saved to afford an emergency cost.

Not everyone goes to school to learn accounting, so we can’t assume that everyone knows what they are doing when it comes to personal finances. South Carolina is taking a major and important step towards improving their citizen’s futures by suggesting everyone take a personal finance course in high school. This could have a massive and positive effect on the economy in the future.

Finding a financial wellness solution that checks most, if not all, of these boxes will enable employees to take the initiative to either continue what they’ve learned (in the case of South Carolina students) or start down the path of gaining financial independence. Implementing a complete financial wellness toolset to give employees the ability to prepare for financial success is a huge step towards significantly increasing productivity.

As an engaged employer who cares about the well-being of their employees, it is important to offer as many resources as possible to encourage employees to stay financially well, decrease stress, and increase productivity in the workplace.


How to build a multigenerational benefits strategy

Employers and HR teams are now managing workforces that stretch across three to five different generations. Continue reading this blog post to learn more about why having a multigenerational benefits strategy is important.


Employers and HR teams are managing employees for a workforce that stretches across three to five generations. This workforce is complex, and its workers have varying needs from generation to generation. That’s why a multigenerational benefits strategy is in order.

Baby boomers preparing for retirement may have an ongoing relationship with doctors and a number of medical appointments in a given year. On the other hand, millennials and members of Generation Z— the latest generation to enter the workforce — may shy away from primary care doctors and focus more on options to pay off student loans and start saving for retirement.

Given these dynamics, it’s important that two separate departments, finance and HR, need to develop a benefits strategy that keeps costs as low as possible while being useful to employees. Finance leaders understand they need to retain employees — turnover is expensive — but they’re still interested in cost containment strategies.

Employers should approach their multigenerational benefits strategy on finding a balance between cost containment and employee engagement.

Cost containment

For the first time in six years, the number of employers offering only high-deductible health plans is set to drop 9%. But the idea of employee consumerism is here to stay as employers see modest rises in health insurance premiums.

To effectively contain costs, employers should first weigh the pros and cons of their funding model. While most companies start out with fully-insured models, employers should seriously evaluate a move toward self-funding. Sure, self-funding requires a larger appetite for risk, but it provides insight into claims and utilization data that you can leverage to make informed decisions about cost containment.

One way to move toward a self-funded model is with level-funding, which allows employers the benefit of claims data while paying a consistent premium each month. In a level-funded plan, employers work with a third-party administrator to determine their expected claims for the year. This number, plus administrative fees and stop-loss coverage, divided by 12, becomes the monthly premium.

A tiered contribution model might also help to contain costs without negatively affecting employees. In a typical benefit plan, employers cover a specific percentage and employees contribute the rest — say 90% and 10%, respectively. In a tiered contribution plan, employees with salaries under a certain dollar amount pay less than those high earners. That means your employee making $48,000 pays $50, while your employee making $112,000 pays more. It’s a way to distribute the contribution across the workforce that enables everyone to more easily shoulder the burden of rising healthcare costs.

Employee engagement

To create a roadmap that not only helps you gain control of your multigenerational benefits strategy but keeps employees of all ages happy, it’s necessary to consider employee engagement. While new options like student loan repayment could be useful to part of your workforce, it’s best to start much simpler with something that affects everyone: time away from work.

A more aggressive paid time off policy, telecommuting policies and paid family leave are becoming increasingly popular. Many companies are offering PTO just for employees to pursue charitable work — a benefit that resonates with younger workers and can improve company culture. And a generous telecommuting policy recognizes that employees have different needs and shows that employers understand their modern, diverse workforce. Beyond basic time away from work, an extended leave policy outside what the law guarantees is another tool that can keep employees engaged.

Making it easier for employees to get care is another trending benefit, which can keep employees happy and contribute to cost containment. Concierge telemedicine has been called the modern version of a doctor’s house call. This relatively inexpensive benefit provides your employees access to care 24/7 by phone or video chat, which is convenient regardless of the user’s generation.

Employees and other covered individuals can connect to a doctor to discuss symptoms and get advice, whether they are prescribed a medication or they need to seek further care. This is another benefit that’s useful for young workers who may not have a primary care doctor or older workers with families.

Finally, your tech-savvy workforce expects to access their plan information wherever they need it. Ensure your carrier offers a mobile app to house insurance cards, coverage and provider information.

When it comes to a multigenerational benefits strategy, creating harmony between finance and HR might seem like a daunting task. But considering some relatively small benefit changes could be what allows you to offer a benefits package that pleases both departments — and all of your employees.

SOURCE: Blemlek, G. (26 February 2019) "How to build a multigenerational benefits strategy" (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/opinion/how-to-build-a-multigenerational-benefits-strategy?brief=00000152-146e-d1cc-a5fa-7cff8fee0000


Younger generations driving lifestyle benefits

Millennials will make up seventy-five percent of the U.S. workforce by 2025, according to a study by Forbes. The self-confidence of younger generations is pushing companies to adopt more non-traditional benefits. Continue reading to learn more.


Younger generations are often characterized as entitled and demanding — but that self-confidence in their work is pushing companies to adopt benefits outside the traditional healthcare and retirement packages.

By 2025, millennials will make up 75% of the U.S. workforce, according to a study by Forbes. The first wave of Generation Z — millennials’ younger siblings — graduated college and entered the workforce last year. With these younger generations flooding the workplace, benefit advisers need to steer clients toward innovative benefits to attract and retain talent, according to panelists during a lifestyle benefits discussion at Workplace Benefits Renaissance, a broker convention hosted by Employee Benefit Adviser.

“Millennials came into the workforce with a level of entitlement — which is actually a good thing,” said Lindsay Ryan Bailey, founder and CEO of Fitpros, during the panel discussion. “They’re bringing their outside life into the workplace because they value being a well-rounded person.”

Catering benefits to younger generations doesn’t necessarily exclude the older ones, the panelists said, in a discussion led by Employee Benefit Adviser Associate Editor Caroline Hroncich. Older generations are accustomed to receiving traditional benefits, but that doesn’t mean they won’t appreciate new ones introduced by younger generations.

“Baby boomers put their heads down and get stuff done without asking for more — that’s just how they’ve always done things,” Bailey said. “But they see what millennials are getting and are demanding the same.”

In a job market where there are more vacant positions than available talent to fill them, the panelists said it’s important now, more than ever, to advise clients to pursue lifestyle benefits. While a comprehensive medical and retirement package is attractive, benefits that help employees live a more balanced life will attract and retain the best employees, the panelists said.

“Once you’ve taken care of their basic needs, have clients look at [lifestyle benefits],” said Dave Freedman, general manager of group plans at LegalZoom. “These benefits demonstrate to workers that the employer has their back.”

The most attractive lifestyle benefits are wellness centered, the panelists said. Wellness benefits include everything from gym memberships, maternity and paternity leave, flexible hours and experiences like acupuncture and facials. But no matter which program employers decide to offer, if it’s not easily accessible, employees won’t use it, the panel said.

“Traditional gym memberships can be a nightmare with all the paperwork,” said Paul O’Reilly-Hyland, CEO and founder of Zeamo, a digital company connecting users with gym memberships. “[Younger employees] want easy access and choices — they don’t want to be locked into contracts.

Freedman said brokers should suggest clients offer benefits catered to people based on life stages. He says there are four distinct stages: Starting out, planting roots, career growth and retirement. Providing benefits that help entry-level employees pay down student debt, buy their first car or rent their first apartment will give companies access to the best new talent.

To retain older employees, Freedman suggests offering programs to help employees buy their first house, in addition to offering time off to bond with their child when they start having families. The career growth phase is when most divorces happen and kids start going to college, Freedman said. Offering legal and financial planning services can help reduce employee burdens in these situations. And, of course, offering a comprehensive retirement plan is a great incentive for employees to stay with a company, Freedman said.

Clients may balk at the additional costs of implementing lifestyle benefits, but they help safeguard against low employee morale and job turnover. Replacing existing employees can cost companies significant amounts of money, the panelists said.

“Offering these benefits is a soft dollar investment,” Freedman said. “Studies show it helps companies save money, but employers have to be in the mindset that this is the right thing to do.”

SOURCE: Webster, K. (25 February 2019) "Younger generations driving lifestyle benefits" (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/news/younger-generations-driving-lifestyle-benefits?brief=00000152-1443-d1cc-a5fa-7cfba3c60000


4 FAQs about W-2 business email compromise attacks during tax season

Has your business been a victim of tax season cyber attacks? The most popular time of the year for W-2 related cyber attacks is during tax season. Read this blog post to learn more.


The most likely cyber attack a company will face will come in the form of an email. One of the most common forms of email attack is the business email compromise (BEC), and the most popular time of the year for the W-2 version of BEC is right now — tax season.

A BEC attack involves attackers sending emails disguised as coming from high-level executives within a company, such as the CEO, to lower level personnel. During tax season, the spoof email will often request that W-2s for employees be provided by return email.

While the email looks identical to the executive’s email, it is coming from — and then returned to — the criminal, not the executive, along with the W-2s and the personal information associated with the documents.

If an employee falls for the scam, the company now has experienced a serious data breach and must comply with certain legal requirements. Worse yet, the company’s employees’ sensitive personal information has been given to the attackers and they have this problem to worry about instead of performing their job. The disruption is substantial in their personal lives and for the company’s operations.

How do attackers use W-2 information?

In most cases, once the attackers have that W-2 information, they use it to attempt to file fraudulent tax returns for those employees and have their tax refunds sent to them instead of the employee. They also use it for traditional identity theft.

The attackers act very quickly once the information is obtained. In some cases, they have begun to fraudulently use the information on the same day they obtained the W-2 information from the company. Time is truly of the essence in responding to these attacks and legal assistance is necessary for properly responding to these data breach events.

Why do so many attacks happen during tax season?

Law enforcement officers and cybersecurity professionals report a drastic increase in these types of attacks during the beginning of each year because of tax season. This is consistent with what is seen in helping companies with these cases in past years, as well. The reason this type of attack is so common during tax season is because of the tax-related fraud aspect of this type of attack. That is, the attackers monetize their attacks by using the fraudulently obtained information to file fraudulent tax returns and obtain refunds from innocent victims.

And the sooner they can do this, the better their chances are of getting the refund before the taxpayer files and receives their tax refund.

If a company has not yet been targeted, it is likely that it will be very soon so it is important to be prepared.

What can you do to protect your company?

Educating employees is critical because they will be the ones who receive the emails from the attackers.

  • Make them aware of this issue by sharing the information in this article with them so that they understand the threat, how it works and how it could affect them personally.
  • Train them by having appropriate personnel discuss this threat with them and help them understand that they should be very suspicious of any requests to email out anything of this nature (or make payments, such as with the very similar wire transfer version of the BEC).

Have appropriate internal controls in place to protect against these types of attacks. These controls can include:

  • Limit who has access to your company’s W-2s and other sensitive information as well as who has the authority to submit or approve wire payments.
  • Have established procedures in place for sending W-2 information or other sensitive information as well as for submitting or approving wire payments so that dual approvals are required for these activities.
  • Require employees to use an alternative means of confirming the identity of the person making the request. If the request is by email, the employee should talk to the requestor in-person or call and speak to the requestor using a known telephone number to get verbal confirmation. If the request is by telephone or fax (many times they are), then use email to confirm by using an email address known to be correct to confirm with the purported requestor. Never reply to one of these emails or call using a telephone number that is provided in one of these emails, faxes, or telephone calls.

What to do if your company is hit by an attack

  • Immediately contact experienced legal counsel who understands how to guide a company through these incidents and, ideally, has appropriate contacts with law enforcement and the IRS to assist in reporting this incident quickly.
  • Report the incident to the FBI or Secret Service and appropriate IRS investigators so that the IRS can implement appropriate procedures to protect the employees whose information was exposed in the W-2s.
  • Prepare appropriate notifications to the people whose information was exposed and comply with all legal and regulatory reporting requirements. This should be a part of an existing incident response plan. Companies should have such a procedure in place to be better prepared if and when a security breach occurs.
  • Inform employees that the IRS will never contact them directly, for the first time, via email, telephone, text message, social media or any way other than through a written “snail mail” letter.

SOURCE: Tuma, S. (19 February 2019) "4 FAQs about W-2 business email compromise attacks during tax season" (Web Blog Post). Retrieved from https://www.benefitspro.com/2019/02/19/4-faqs-about-w-2-business-email-compromise-attacks-during-tax-season/


Why employers should take offboarding more seriously

According to Glassdoor, 79 percent of job seekers use employer review sites during their job search. These sites provide a public stage for employees to rate and review their employers. Continue reading to learn more.


When it comes to layoffs in today’s online world, companies must focus on providing the best experience possible for departing employees, not only because it’s the right way to treat these individuals, but also because it can have a direct effect on the company’s public reputation.

Websites like Glassdoor, Fairy God Boss and Indeed provide a public stage for employees to rate and review their current and former employers. A whopping 79% of job seekers use sites like these during their job search, according to a recent Glassdoor study. Reviews can come in the form of happy employees who cheerlead and promote their employer, as well as disgruntled employees who take the opportunity to air out their employer’s dirty laundry.

In an economy with nearly full employment, where disgruntled employees can and do turn to public online review sites where prospective employees are sure to visit before an interview, organizations cannot afford to take their separation and off-boarding processes lightly.

Reviews by exiting employees have the potential to be very damaging to an employer’s reputation and deter prospective employees from even applying for potential jobs. This kind of transparency also offers a lot of benefit to job seekers; prospective employees can get a better idea of what it would be like to work for a particular company and have greater ability to select a company whose culture and values match their own. In fact, Glassdoor’s study found that 69% of job seekers would not take a job with a company that has a bad reputation – even if unemployed.

One theme that repeatedly appears in negative reviews centers around the topic of layoffs, including write-ups of various HR blunders made throughout the process, inadequate communication, and a lack of empathy and respect toward the departing employees.

While much consideration is given to the onboarding and retention phases of the relationship between employee and employer, the separation phase is often given far less attention. Whether due to a layoff, reduction in force, performance termination, or some other event, managing employee separations can be challenging and can easily turn for the worse, leaving the employee with a negative perception of the company – and an axe to grind on social media.

To address the organizational need for reputation management during a reorganization, many companies work with a third-party specialist to guide them through the necessary steps to maintain employee good-will and satisfaction. A consultative partner can offer added benefit by bringing a fresh perspective and specialized experience to a delicate situation.

For companies committed to attracting new talent, maintaining a strong online reputation should be a priority. Whether you choose to work with a partner-firm or not, ensuring that offboarding is carefully planned and managed will help your organization be more prepared and better equipped to manage a layoff action skillfully, in a way that leaves people feeling heard, cared for and appreciated.

SOURCE: Mellis, L. (21 January 2019) "Why employers should take offboarding more seriously" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/why-employers-should-take-offboarding-more-seriously?feed=00000152-a2fb-d118-ab57-b3ff6e310000