Why technology is not just a ‘thought but a necessity’

Are you utilizing your technology to its advantages? Check out this article from Employee Benefits Advisors about the importance of technology in today's marketplace by Brian M. Kalish

More than half of all brokers nationwide are still using paper and have no online database of their clients — but the industry is about to reach a tipping point, where those still using old processes will be left behind.

According to a recent survey of 10,000 brokers by hCentive, 54% still use paper and 53% have no online database.

Having no online database is the most challenging part, Lisa Collins, director of business development at hCentive said a recent event for brokers sponsored by the company in Reston, Va. Those brokers, she said, lack a central place for their resources.

But for brokers still using these old processes, the industry is reaching a tipping point, she said, where “technology is not just a thought [but] a necessity.”

It will become necessary, she explained, because the industry is demanding technology solutions as employers look to their brokers to provide more services with less commissions. On top of that, HR broker tech startups, such as Zenefits, Namely and Gusto are taking business away. These firms offer technology solutions for free and become the broker of record — and they are moving upmarket, Collins added. The tech startups, Collins added, are taking business from more traditional brokers.

These tech startups are directly approaching adviser’s clients, she said. Clients are responding to these HR tech startups because of challenging and changing requirements of HR, including Affordable Care Act compliance.

“Clients are asking for more than ever,” she said. “It used to [broker’s] sold insurance. Now they are a true consultant and risk mitigator.”

“Clients want more and more and it is challenging with less commission dollars to work with,” she added. “You have more competition than you have ever had.”

Advisers need to provide value, as benefits are likely to be a top three expense for an employer, added Brian Slutz, regional sales manager at hCentive.

The future
Looking toward the future, many questions still remain about President Donald Trump’s plans for healthcare and employee benefits, but a few things are likely to be consistent, which can be streamlined with technology, including:

  • Consumer-driver healthcare is staying, Collins said, and with that comes the growth of health savings accounts. As a result, more voluntary products can be sold. Technology enables that through decision support tools that suggest these products to employees.
  • Cost transparency tools: “A really critical tool,” Collins said. Viable systems are hitting the marketplace now and technology provides answers employees are seeking on healthcare costs
  • Personalized communications: With more choice and more complication comes the need for education, Collins said. Technology solutions are becoming more customized to speak to an individual employee with targeted communication to a particular generation.

See the original article Here.

Source:

Kalish B. (2017 January 31). Why technology is not just a 'thought but a necessity' [Web blog post]. Retrieved from address https://www.employeebenefitadviser.com/news/why-technology-is-not-just-a-thought-but-a-necessity?brief=00000152-1443-d1cc-a5fa-7cfba3c60000

by 6d-destani

10 tips for furthering benefits education

Are you looking for some new ways to educate yourself in the world of benefits? Here are some great tips from Benefits Pro you can use to help increase your knowledge about benefits by Erin Moriarty-Siler

In order to maintain relevant in today's ever-changing benefits market, it's important that brokers and benefits professionals keep learning.

Whether that be by networking with others in the industry, diving in with new technology efforts, or simply chatting about client needs, it's essential industry professionals keep learning.

As part of our our marketing and sales tips series, we asked our audience for their thoughts on how to continue their benefits education.

Here are the 10 tips we liked best.

1. Cost-effective education excites employees

Employees are eager to better themselves, especially if doing so can be cost effective through innovative benefits. Consider offering financial planning and educational services like career development courses or college prep classes, as these are becoming more and more popular.

2. Industry events

Disruption will continue in the insurance industry, but will you be able to keep up? Stay up-to-date by attending industry events, such as the BenefitsPRO Broker Expo in April.

3. Practice makes perfect

To retain knowledge and keep a competitive edge, it's important to practice and refresh skills year-round (think social media training, for instance).

4. It's not a "no," it's a growth opportunity

Treat rejection as a learning opportunity. Find ways to turn a no into a yes and remember that persistence prevails.

5. Trial and error is the best teacher

“Experiments are usually about learning. When you get a negative outcome, you’re still really learning something that you need to know.” Linda Hill, professor of business administration, Harvard Business School

6. Think outside your own experience

Look to your colleagues for exclusive insight you might not have. Ask a younger co-worker what they’d most like out of a benefits package, or what type of insurance is best for your officemate nearing retirement.

7. Learning and education are not created equal

“I’m a three-time college dropout, so learning over education is very near and dear to my heart, but to me, education is what people do to you, learning is what you do to yourself.” Joi Ito, director, MIT Media Lab

8. Become the expert

“You can distinguish yourself with top-notch technical or industry knowledge. It pays to be viewed as an expert, whether in risk management or the regulatory landscape. You’ll open up many opportunities by becoming an authority.” Renee Preslar, communications manager, Transamerica Employee Benefits

9. Money, money, money

“The No. 1 employee wellness trend in 2017 will be an increasing focus on helping employees better themselves financially by providing the tools, resources, education and environment to improve their finances.” Matt Cosgriff, retirement plan consultant, BerganKDV Wealth Management.

10. Too much is never enough

“You can never be overdressed or overeducated.” Oscar Wilde

See the original article Here.

Source:

Moriarty-Siler E. (2017 January 24). 10 tips for furthering benefits education[Web blog post]. Retrieved from address https://www.benefitspro.com/2017/01/24/10-tips-for-furthering-benefits-education?ref=hp-news&page_all=1

by 6d-destani

Strategic Talent Investment

Looking for ways to develop existing talent? Check out this interesting article from SHRM about the impact and benefits of investing in talent by Sharon Margules

Limited dollars for talent development? High expectations for measurable impact? More requests and expressed needs than resources available? These are just some of the challenges facing HR today. The solution: make strategic talent investments that directly link to the business strategy.
Successful organizations have business strategies that define their winning aspiration, where they will play, how they will win and the capabilities and systems they need to have in place to execute.i From my experience, the volatile marketplace has challenged leaders to craft sustainable, competitive strategies and for those that do, many still don’t thoughtfully consider the capabilities and aligned systems needed to operationalize their strategy. While there are exceptions to this conclusion, it is more commonplace to see lagging talent strategies and business systems.
For HR’s part in this, they need to adopt a mindset shift from being reactive and “in service” to proactive and a “strategic partner” in enabling the business strategy. Throughout my career I observed HR wait for the strategy to be defined by the “business” before they determine the actions they need to take in support. That doesn’t work. The time to make a difference is during the creation of the business strategy so everyone involved understands the organization’s current readiness to address the where to play and how to win choices. Absent that perspective, leaders are making assumptions about what can and can’t be achieved to execute their strategy. When it comes time to build budgets, the lack of forethought into what it will take to execute in terms of both capabilities and systems, becomes an unaligned mess. Budgets become grocery lists of investments that are only very nominally linked to the business strategy. No one is thinking through what capabilities and systems are truly critical to enable the strategy execution.
How Do You Get More Strategically Aligned with the Business?
As I mentioned, HR executives need to adopt a mindset shift and assume a more proactive role during the strategy formation. They need to exert their influence on the leadership team when making choices of where to play and how to win. They need to come prepared to share a clear understanding of where the organization is today from a talent and a HR systems perspective. This means leaders need to already have in place an effective means of classifying the current talent capabilities they have, where the gaps are against the current strategy and knowledge of their pools of talent in each of their core areas. An infrastructure of integrated approaches to assessment, talent planning, attraction and hiring, performance management, and compensation needs to be functioning at a high level to provide HR executives with the necessary data for strategic decision making. Furthermore, HR executives must have sufficient knowledge of the business, the competition and the consumer. Otherwise, recommendations on strategy will lack sufficient credibility. With the data and knowledge available then HR can make strategic investment decisions.
How Do You Make Strategic Talent Investment Choices?
If you have clarity around the business strategy and know where you are today in terms of capabilities and where you need to be to execute the strategy, then making these decisions will be straightforward. Most organizations struggle with unclear priorities and massive tactical “to do” lists that are not aligned with the strategy. Your plans need to be directly tied to the business strategy.
Building a strategic investment plan means you make critical, differentiated investments in core/key talent areas that will have the most significant impact on your business strategy. Just as a business has to choose what it will and won’t do as part of creating their strategy, HR needs to have the discipline to make choices. That can mean you allocate some of your investment across frontline leaders as you implement a new service model. Or, perhaps it is an investment in high potential mid-level leaders who need to make the transition to managing larger scope across broader global teams. The point is, regardless of where you do and don’t make investments, your choices should be a result of strategic input at the beginning stages of business strategy formation. Failure to make the strategic connection and to monetize the ROI will lead you to arbitrary HR decision making and ineffective solutions.
Similarly, the absence of the right talent development solutions will bring further failure in delivering against the capability requirements for the strategy. The keys to strategic talent investment: link business strategy to investment choices, to solution identification, and follow through with execution and measurement.
Using this as a model to build your talent development plans will significantly increase your chances of investing in the right solutions, for the right audience, at the right time and with the right results.
How Do You Build a Case For Your Talent Investments?
The question you need to ask first is: Will making an investment in this population, in this solution, in this initiative facilitate the accomplishment of our business strategy?
Even if you answer yes, organizations may still cut the talent investments that most directly impact their ability to achieve their strategy.
For example, I recently led a high potential program designed to build general management capabilities among leaders from product functions who were experts in each of their fields. The goal, originally defined by the CEO, was to create a pool of GMs that could take on leadership of businesses that were becoming more global and integrated. Rather than have operators run a product business, the objective was to have GMs with product expertise run a product business on a global scale. The results from two years of the program were that 72 percent of the participants received promotions to GM roles and 22 percent of the participants took on expat assignments as GMs in Japan and China. Despite its success, the program was cut because the investment, 50K per person for 20 people was deemed too steep. The primary reason the case couldn’t be made to continue this investment; is following a CEO leadership change, we were unable to demonstrate how this program was directly aligned with the business strategy. We didn’t monetize the value of this investment.
Here are some questions you should answer in making a strategic case for talent investment:
1. How does having internally developed “x” leaders with “y” capabilities enable the achievement of your organization’s vision and strategy? Will having leaders with these capabilities allow you to more rapidly innovate, act on opportunity and compete in new markets? Which specific strategic business objectives are you tackling?
2. How much business do the leaders you are developing impact and how much economic value can be gained? Let’s say the leader runs a $200m business. If the leader, as a result of your targeted development, is able to find cost savings and increase earnings of just 2 percent, the economic value the leader brings is $4M.
3. What is the cost to attract, hire and onboard someone into a key role? What is the cost in lost productivity? Most estimates put the cost of hire to be 1.5 to 2 times the salary for key roles.ii If you assume a key leader earns $200,000 then the minimum cost to hire is $300,000 and according to most studies, nearly half will fail within the first 18 months at a new employer.iii
4. What will it cost you in attrition, if you don’t invest in your key talent? As Dan Pink articulates in his book, Drive: The Surprising Truth about What Motivates Us, leaders need a sense of mastery, autonomy and purpose to be motivated and achieve their best. Development provides leaders the opportunity to expand their mastery and autonomy and even clarify their purpose. As Pink says, “The secret to high performance and satisfaction … is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world.”
The loss of key talent affects commitment and focus on results among team members. It has a lasting, negative effect on climate that can permeate the organization.
5. What insights are you not tapping into from these leaders by not making the investment in development? Leaders are both born and made and through practice, excellence can be achieved. By creating the right development solution, leaders are given an environment in which they can acquire new knowledge, learn new skills and practice with low risk. What new idea, innovation or perspective might you leave on the table because you didn’t invest in giving leaders the tools and resources as well as the space to learn?
With these questions answered HR executives should be able to make the case to invest $50K in the development of key talent (per example above). Between the cost to hire of about $300K and the lost potential economic value of $4M, the possibility of attrition and the resulting negative climate impact, the organization is beyond remiss for not making the investment a priority.
HR has long sought to be a business partner. The more HR professionals can influence business strategy, link their efforts directly to the strategy, and deliver thoughtful, differentiated investments that can show true value, the more likely the “business” will seek their partnership.

See the original article Here.

Source:

Margules S. (2017 January 19). Strategic talent investment [Web blog post]. Retrieved from address https://blog.shrm.org/blog/strategic-talent-investment

by 6d-destani

HSAs could play bigger role in retirement planning

Did you know that ACA repeal could have and effect on health savings plans (HRA)? Read this interesting article from Benefits Pro about how the repeal of the ACA might affect your HRAs by Marlene Y. Satter

With the repeal of the Affordable Care Act looming, one surprising factor in paying for health care could see its star rise higher on the horizon—the retirement planning horizon, that is. That’s the Health Savings Account—and it’s likely to become more prominent depending on what replaces the ACA.

HSAs occupy a larger role in some of the proposed replacements to the ACA put forth by Republican legislators, and with that greater exposure comes a greater likelihood that more people will rely on them more heavily to get them through other changes.

For one thing, they’ll need to boost their savings in HSAs just to pay the higher deductibles and uncovered expenses that are likely to accompany the ACA repeal.

But for another—and here’s where it gets interesting—they’ll probably become a larger part of retirement planning, since they provide a number of benefits already that could help boost retirement savings.

Contributions are already deductible from gross income, but under at least one of the proposals to replace the ACA, contributions could come with refundable tax credits—a nice perk.

Another proposal would allow HSA funds to pay for premiums on proposed new state health exchanges without a tax penalty for doing so—also beneficial. And a third would expand eligibility to have HSAs, which would be helpful.

But whether these and other possible enhancements to HSAs come to pass, there are already plenty of reasons to consider bolstering HSA savings for retirement. As workers try to navigate their way through the uncertainty that lies ahead, they’ll probably rely even more on the features these plans already offer—such as the ability to leave funds in the account (if not needed for higher medical expenses) to roll over from year to year and to grow for the future, and the fact that interest on HSA money is tax free.

But possibly the biggest benefit to an HSA for retirement is the fact that funds invested in one grow tax free as well. If you can leave the money there long enough, you can grow a sizeable nest egg against potential future health expenses or even the purchase of a long-term care policy. And, at age 65, you’re no longer penalized if you withdraw funds for nonapproved medical expenses.

And if you don’t use the money for medical expenses in retirement, but are past 65, you can use it for living expenses to supplement your 401(k). In that case, you’ll have to pay taxes on it, but there’s no penalty—it just works much like a tax-deferred situation from a regular retirement account.

See the original article Here.

Source:

Satter M. (2017 January 16). HSAs could play bigger role in retirement planning [Web blog post]. Retrieved from address https://www.benefitspro.com/2017/01/16/hsas-could-play-bigger-role-in-retirement-planning?ref=hp-news

by 6d-destani

Owning Engagement in Your Workplace

Looking for ways to help increase your employee engagement at work? Take a look at this great article from Society of Human Resources (SHRM) for so great tips to boost employee engagement by Trish McFarlane

We’re going on well over fifteen years of thinking about employee engagement in organizations.  And after years of surveying employees and rolling organizational results into a macro look at our country, the results today have not changed much from when we first started the analysis.  What we know is companies that lose disengaged employees often see the negative impact of having lower profitability and higher recruiting expenses.
From a company perspective, there are always things that can be done to reach out to employees and make them feel valued.  What has changed in the last fifteen years is using technology to bolster engagement by creating solutions to aid in stronger organizational connections.  These can include solutions to:
Encourage mentor relationships- Employees who feel mentored know that someone in the organization cares about their development and career path.  This mentor relationship also creates an outlet for continuous communication, and feedback, so that the employee has a strong connection point.
Communicate more, not less- Being transparent, even in economic downturns, builds trust with employees.  They will be more likely to hang in there for the long run.  Additionally, letting an employee know how valuable they are to the company is key.
Allow and encourage some fun in the work day- Fun at work = employees who don’t dread being there.  You don’t have to be playing ping pong or foosball all day at work, but definitely encourage a culture of being able to step away from the desk to chat and congregate.  It also means providing technology to make collaboration and sharing easier.  And beyond the technology, having senior leaders who will use and champion the technology so that employees feel compelled to use it too.
But it’s not just about the company driving employee engagement.  In many organizations, employee engagement is looked at as the relationship between the employee and the company.  In actuality, it goes far beyond this and is the relationships that an individual employee builds with colleagues and clients that truly indicate how likely the employee is to stay with the organization.  Engagement is also a set of behaviors an employee must embrace in order to make the connections that will be lasting.  So, what can you do as an employee to build that relationship?
Ways to foster your own engagement
  • Volunteer to do more
  • Be more active (in the group, the topic, etc.)
  • Look for ways to improve, then implement them
  • Take ownership for what goes well and where you need to improve
  • Get “fired up” and use your passion
  • Be loyal
  • Build trusting relationships

The take away for me is it’s about focusing on the relationship, not the individual inputs and levers.

What do you think?  What would you add to the list?

See the original article Here.

Source:

McFarlane T. (Date). Owning engagement in your workplace [Web blog post]. Retrieved from address https://blog.shrm.org/blog/owning-engagement-in-your-workplace

by 6d-destani

How to encourage increased investment in financial wellbeing

Is financial wellness an important part of your company culture? By promoting financial wellness among your employees', employers can reap the benefits as well. Check out this great article from Employee Benefits Advisor about the some of the effects that promoting financial wellness can have. By Cort Olsen

Financial wellness has come to the forefront of employers’ wellbeing priorities. Looking back on previous years of participation in retirement savings programs such as 401(k)s, employers are not satisfied with participation, an Aon study shows.

As few as 15% of employers say they are satisfied with their workers’ current savings rate, according to a new report from Aon Hewitt. In response, employers are focused on increasing savings rates and will look to their advisers to help expand financial wellbeing programs.

Aon surveyed more than 250 U.S. employers representing nearly 9 million workers to determine their priorities and likely changes when it comes to retirement benefits. According to the report, employers plan to emphasize retirement readiness, focusing on financial wellbeing and refining automation as they aim to raise 401(k) savings rates for 2017.

Emphasizing retirement readiness
Nearly all employers, 90%, are concerned with their employees’ level of understanding about how much they need to save to achieve an adequate retirement savings. Those employers who said they were not satisfied with investment levels in past years, 87%, say they plan to take action this year to help workers reach their retirement goals.

“Employers are making retirement readiness one of the important parts of their financial wellbeing strategy by offering tools and modelers to help workers understand, realistically, how much they’re likely to need in order to retire,” says Rob Austin, director of retirement research at Aon Hewitt. “Some of these tools take it a step further and provide education on what specific actions workers can take to help close the savings gap and can help workers understand that even small changes, such as increasing 401(k) contributions by just two percentage points, can impact their long-term savings outlook.”

Focusing on financial wellbeing
While financial wellness has been a growing trend among employers recently, 60% of employers say its importance has increased over the past two years. This year, 92% of employers are likely to focus on the financial wellbeing of workers in a way that extends beyond retirement such as help with managing student loan debt, day-to-day budgeting and even physical and emotional wellbeing.

Currently, 58% of employers have a tool available that covers at least one aspect of financial wellness, but by the end of 2017, that percentage is expected to reach 84%, according to the Aon Hewitt report.

“Financial wellbeing programs have moved from being something that few leading-edge companies were offering to a more mainstream strategy,” Austin says. “Employers realize that offering programs that address the overall wellbeing of their workers can solve for myriad challenges that impact people’s work lives and productivity, including their physical and emotional health, financial stressors and long-term retirement savings.”

The lessons learned from automatic enrollment are being utilized to increase savings rates. In a separate Aon Hewitt report, more than half of all employees under plans with automatic enrollment default had at or above the company match threshold. Employers are also adding contribution escalation features and enrolling workers who may not have been previously enrolled in the 401(k) plan.

“Employers realize that automatic 401(k) features can be very effective when it comes to increasing participation in the plan,” Austin says. “Now they are taking an automation 2.0 approach to make it easier for workers to save more and invest better.”

See the original article Here.

Source:

Olsen C. (2017 January 16). How to encourage increased investment in financial wellbeing [Web blog post]. Retrieved from address https://www.employeebenefitadviser.com/news/how-to-encourage-increased-investment-in-financial-wellbeing?feed=00000152-1377-d1cc-a5fa-7fff0c920000

by 6d-destani

FIVE TRENDS IN TALENT

Do you know what is needed to attract new talent to your company? Here's a great article from SHRM about 5 trends that new hires are looking for in 2017 by Shonna Waters & Alex Alonso

1. A VERY COMPETITIVE TALENT MARKETPLACE
Labor market improvements and skills shortages have combined to create a very competitive talent marketplace. Sourcing talent is now as much about how organizations represent themselves to the world as it does about digging deeper to find new pockets of talent. Not only is sourcing talent a real and relevant problem for HR, but according to a 2015 SHRM survey of non-HR executives, it is the defining issue for ensuring organizational sustainability. As we look to the future, organizations that can find talent in non-traditional pockets or manufacture their talent through partnerships with educational institutions and NGOs will continue to build competitive advantage.
2. DATA & ANALYTICS WILL DRIVE HUMAN CAPITAL DECISIONS
Big data and analytics trends have not spared HR. Today's competitive landscape requires HR professionals to be able to tie talent investments to business objectives. Metrics such as cost-per-hire and time-to-fill are no longer sufficient. New trends in workforce analytics call for meta-metrics like return on workforce investment and assessing opportunity costs associated with workforce processes. Moreover, truly astute consumers of these meta-metrics will also blend in marketing tools like net promoter scores to enhance the information gathered about the organization's effectiveness when promulgating brand and consumer value propositions. All this to say, when looking at workforce analytics we can safely say, "it isn't your grandfather's analytics anymore."
3. INTEGRATED PERFORMANCE MANAGEMENT
In part thanks to increased attention on business outcomes (or lack thereof) of traditional performance appraisal systems, organizations are responding to an overwhelming imbalance between what they invest in appraisal systems and the outcomes they receive by eliminating or significantly re-conceptualizing performance management (e.g., General Electric, Deloitte, Adobe, Microsoft, Gap, Inc.). Despite overwhelming frustration with appraisal systems, they are here to stay. HR professionals will have to take on new ways of designing these systems to move beyond administrative processes to business impact. The most successful organizations will focus on strengthening the performance culture to embed performance management behaviors such as feedback and coaching into the day-to-day work rather than crafting it as a separate and administrative process.
4. PARENTAL LEAVE
Heavy workplace demands and an increasingly complex, global environment can lead to burnout, low productivity, dissatisfaction, and stress-related illnesses across organizational levels. Increased research demonstrating the importance of employee well-being, an increasingly transparent and competitive talent market, and media attention on both gender equality and paid leave policies across the globe have made paid parental, maternity, and paternity leave a top trend for 2017. Although only about a quarter of organizations currently offer this type of paid leave, competitive organizations will be taking a hard look at their policies next year to ensure their benefits packages appeal to their target employees.
5. THE GIG ECONOMY & ADAPTIVE LEADERSHIP
Two other trends, the contingent workforce and leader development, are worth watching. The gig economy is here to stay. Employees can no longer be easily parsed into full-time and part-time, exempt and non-exempt. HR professionals will need to grapple with how to orient and socialize gig workers, while staying in compliance with evolving laws and regulations. Rapid changes within the business environment are also threatening the old command and control management structures and styles. As a result, new models of leadership and leader development methods are required to build complex, adaptable leaders who can handle ambiguity and constant change and motivate their employees to do the same by focusing on meaning and purpose.

See the original article Here.

Source:

Waters S., Alonso A. (2017 January 5). Five trends in talent [Web blog post]. Retrieved from address https://blog.shrm.org/blog/five-trends-in-talent

by 6d-destani

What’s employers’ No. 1 concern in 2017?

Does the new year have you worried? Check out this great article from Employee Benefits Advisor about employers concerns in 2017 by Phil Albinus

In the aftermath of President-elect Donald Trump’s surprise victory last month, the top employee benefit concern among employers remains their role on the Affordable Care Act. According to a survey of 800 employers conducted by brokerage solution provider Aon, nearly half — 48% — responded that the employer mandate is their biggest concern for the new administration.

According to J.D. Piro, head of the Aon’s law group, the concern stems from whether or not Trump will repeal and replace Obamacare and what plans the 115th Congress has for Medicare.

“It’s all of those [issues] and the employer mandate which has the reporting obligations, the disclosure obligations, 1094 and 1095 forms and the service tracking ... all of that goes into the ACA. The concern is, is it going to be dropped, expanded or modified in some way?” Piro tells EBN.

“Employers have all sorts of questions about that,” he adds.

The employer mandate was by far the top employer concern, according to the Aon survey, which was administered after the election. “Prescription drug costs” received 17% of responses and the “excise tax” received 15% of respondents’ attention. “Tax exclusion limitations on employer-sponsored healthcare” garnered 10% of votes while “paid leave laws” and “employee wellness programs” trailed at 8% and 2%, respectively.

The results didn’t surprise Piro. The employer mandate “is something employers had to get up to speed on and learn how to administer in a very short period of time. It was so complex that it was delayed for a year. It’s not yet part of the framework, and people are still addressing how to comply with it,” he says.

Looking ahead

While Piro declined to make any predictions about what the new administration will accomplish in terms of healthcare, he does think Congress will act quickly, if at least symbolically.

“I think something will happen in 2017. The most likely scenario is Republicans will pass some sort of repeal bill in the first 100 days of the new administration, but they will put off the effective date of the repeal until 2018 or 2019,” he says. “It will be somewhere down the road so they can decide when and what the replacement is going to be.”

The sheer complexity of ACA and Medicare will not make its repeal an easy matter for either the new Trump administration or Congress.

“This is an interconnected web of laws and rulings and the ACA affects every sector of healthcare. It’s thousands of pages of regulations,” Piro says. “Repealing it is not as easy as turning off a light switch or unplugging a computer and plugging it back in again.”

“A lot of people are affected by ACA and you have to consider what the impact is going to be.”

See the original article Here.

Source:

Albinus P. (2017 January 04). What's employers' no. 1 concern in 2017 [Web blog post]. Retrieved from address https://www.employeebenefitadviser.com/news/whats-employers-no-1-concern-in-2017?utm_campaign=eba%20daily-jan%204%202017&utm_medium=email&utm_source=newsletter&eid=909e5836add2a914a8604144bea27b68

by 6d-destani

Don’t expect tech to solve benefits communications problems

Great article from Benefits Pro about using technology to communicate with your employees by Marlene Satter

Although technology has spawned multiple methods of communication with employees on benefits, that doesn’t mean they’re solving all the problems in conveying information back and forth between employer and employee.

In fact, generational and demographic differences, varying levels of comfort with a range of communication methods and the complexity of information all mean that there’s no one-size-fits-all solution in workplace benefits communication.

A study from West’s Health Advocate Solutions finds employees’ expectations cover a wide range in benefits, health and wellness program communication. As a result, human resources and benefits managers have to dig more deeply in finding ways to convey information to employees.

One finding which may surprise them is employees prefer live-person conversations, although some do prefer the option to use digital communication channels in certain benefits scenarios. And 41 percent of employees say their top complaint about employers’ benefits programs is that communication is too infrequent.

Employee benefits in 2017 will feel the effects of political change as well as cultural change. Here are some trends...

The top choice of employees for communicating about health care cost and administrative information is directly by phone (73 percent) with a live person; second choice was a website or online portal (69 percent), while an in-person conversation was the choice of 56 percent.

For information about physical wellness benefits, 71 percent opt for the website/online portal, while 62 percent want to talk to someone on the phone and 56 percent wanted an in-person conversation. Interestingly, 62 percent of men and 44 percent of women prefer in-person conversations.

For personal/emotional wellness issues, 71 percent want that chat with a person on the phone, 65 percent want an in-person conversation and just 60 percent want to interact with a website/online portal.

When it comes to managing a chronic condition, 66 percent prefer to talk to someone on the phone, 63 percent would prefer the website/online portal option and 61 percent want an in-person conversation. Sixty-seven percent of men, compared with 53 percent of women, prefer in-person conversations, while 35 percent of women, compared with 18 percent of men, prefer mobile apps.

And there are generational differences, too, with millennials wanting in-person interactions more than either Gen X or boomer colleagues. But they all want multiple options, and the ability to choose the one they prefer, rather than simply being restricted to a single method.

See the original article Here.

Source:

Satter M. (2016 December 14). Don't expect tech to solve benefits communications problems [Web blog post]. Retrieved from address https://www.benefitspro.com/2016/12/14/dont-expect-tech-to-solve-benefits-communications

by 6d-destani

4 Things Your Company Should Consider as New Overtime Rules are Put on Hold

Great article from SHRM by Sushma Tripathi

The U.S. Department of Labor (DOL) is fighting a court ruling that put new FLSA (Fair Labor Standards Act) overtime regulations on hold. Last month, a district court in Texas issued a nationwide preliminary injunction blocking the DOL’s final rule that sought to raise the required salary level to qualify for white collar exemptions.

Although the DOL now seeks to lift the injunction, the overtime changes that were scheduled to take effect December 1 remain on hold for the time being.

Several possibilities exist as to what will happen next. The DOL could file a motion to stay, or suspend, the injunction during the appeals process. If the court were to grant such a motion, this would cause the rule to take effect. If no motion to stay is filed, or if such a motion is denied, the injunction will stand during the appeals process.

To add a further layer of complication, the DOL filed a motion for an expedited appeal on December 2, which motion was granted on December 8, and the DOL’s opening brief will be due on December 16, 2016. Further, the states’ brief in support of the district court’s injunction will be due on January 17, 2017 and the DOL’s reply brief will be due on January 31, 2017. We will not have a decision on the expedited appeal until sometime in February 2017. While all this plays out, it’s natural to ask: What should businesses be doing?

Here a few things to consider:

  • Rapidly assess what actions to take and what actions are possible. Many employers spent months preparing for the FLSA changes, identifying workers affected by the final regulations, and determining whether to increase their salaries to comply or reclassify them as non-exempt employees, and communicating those changes to their employees. If an employer already notified an employee of a salary increase effective December 1 or already made the change, it may be too difficult to reverse that change and communicate that the change won’t occur. You should confer with your counsel and consider whether it’s better to go ahead with your initial plans and stay the course, especially if your payroll team already processed the change.
  • Start tracking time now. The court may side with the DOL and the proposed regulations could be reinstated retroactively to the original December 1 effective date. For that reason, employers that decide not to take action to comply with the new regulations while the litigation and appeal are pending should consider directing reclassified employees to track time. This will ensure that, in the event the final rule is later upheld and overtime becomes due retroactively, employers will have an accurate record of hours worked.
  • Continue to evaluate the FLSA status of employees. While the rule is delayed, employers should continue to evaluate the FLSA status of their employees by reviewing job duties and descriptions to ensure that employees are properly classified. Whether or not the rule is upheld, employers remain subject to FLSA requirements that dictate proper job classification and payment methods. Take this opportunity to make sure employees’ duties match their job descriptions. Following the recession in 2008, in many workplaces, tasks were redistributed after layoffs and many employees took on additional duties that were never added to into their job descriptions. These employees may need to be reclassified under existing FLSA regulations.
  • Be transparent in communicating changes. In deciding how to proceed, employers are strongly advised to consult with internal or external legal counsel and other experts to discuss options available before making and communicating decisions related to this latest development. Employee relations and financial implications should be considered. Employers should also keep in mind that applicable state laws may require advance notice of any changes in pay. State laws may also govern the overtime exempt status of employees. Remember to convey to employees that it’s the law that’s causing potential changes and not your company. Otherwise, morale can be impacted if employees feel they are being demoted by being reclassified.

While we have no crystal ball and cannot predict what a Trump administration will do, one can guess that it might direct the DOL to abandon the appeal, because President-elect Trump previously stated that he thought that small businesses should be exempt from the proposed increases in minimum salary for the white-collar exemptions. The Trump administration might prefer to take a more gradual approach to raising the minimum salary levels, instead of the almost 100 percent increase contemplated by the DOL’s rule, or may prefer no increase at all. So, our advice to employers is to take this time to make sure you’re in compliance with existing wage and hour laws and ensure you have employees classified properly. There’s no time like the present.

See the original article Here.

Source:

Tripathi S. (2016 December 14). 4 things your company should consider as new overtime rules are put on hold[Web blog post]. Retrieved from address https://blog.shrm.org/blog/4-things-your-company-should-consider-as-new-overtime-rules-are-put-on-hold

by 6d-destani