Senior Providers Blog

The Aging Nation… What are we doing about it?

Posted by Senior Providers Network on Aug 18, 2018 12:00:00 PM

Business Case

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Topics: Employee Benefits

Pet Insurance vs. Eldercare Employee Benefits

Posted by Senior Providers Network on Jun 14, 2018 10:00:00 AM

We love our pets.  If you think about it, they are extensions of the family.  Having pets take on lots of responsibility.  We know what having children can cost, but pets can cost a lot too!  Pet insurance is one of the fastest-growing voluntary employee benefits, one in three Fortune 500 companies now offer pet insurance. More than 3,800 companies and organizations have added Veterinary Pet Insurance (VPI, a Nationwide Insurance company) to their benefits portfolio, including Chipotle Mexican Grill, Deloitte LLP, Delta Airlines, Hewlett-Packard, Microsoft, T-Mobile, UPS, and Xerox, according to VPI Pet Insurance.

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Topics: Family Caregiver, Employee Benefits

Why Eldercare Employee Benefits are so Important

Posted by Senior Providers Network on Mar 29, 2018 10:00:00 AM

15% of the current U.S workforce is providing care to an aging loved one. The associated time, costs, and impact on productivity causes a loss of $30B every year for businesses. This happens because employees providing such care tend to become stressed or overwhelmed and they can’t be as productive at work as they should be. To enable your business to avoid this lost potential, it is important to implement elder care into your employee benefits package.

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Topics: Employee Benefits

How Employee Benefits Affects Total Compensation

Posted by Senior Providers Network on Mar 27, 2018 10:00:00 AM

As more companies provide unique employee benefits packages to attract top talent, the cost of these perks is constantly rising in relation to actual salaries. Benefits that are aimed at boosting workplace productivity and attracting the best employees are beginning to comprise a significant percentage of a worker’s total compensation.

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Topics: Employee Benefits

Examples of the Most Popular Employee Benefits Today

Posted by Senior Providers Network on Mar 22, 2018 10:00:00 AM

57% of job seekers today assign top priority to their employee benefits packages before accepting a job. In fact, 4 out of 5 workers prefer a new benefits package over a pay raise. As more job seekers place emphasis on comprehensive benefits, businesses need to adapt their current offerings to accommodate these needs.

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Topics: Employee Benefits

What are Standard Employee Benefits?

Posted by Senior Providers Network on Mar 20, 2018 10:00:00 AM

For your business to remain competitive in a today's economy, you need to attract and retain top talent. Employees nowadays expect a compensation package that goes beyond the basic salary and healthcare benefits.

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Topics: Employee Benefits

3 trends HR professionals need to know about employee benefits

Posted by Senior Providers Network on Feb 27, 2018 10:00:00 AM

More companies are beginning to realize the important role that their workforce plays in boosting productivity and helping the business grow. Investing in your workforce remains one of the best ways to secure the long-term success of any company.

To this end, HR professionals need to keep an eye out for emergent trends in the employee benefits space so they can offer competitive, useful and cost-effective support to their employees.

Here are some of the most influential trends that will define employee benefits in 2018 and beyond:

1. The value of Employee Assistance Programs

More companies are realizing the enormous benefits that Employee Assistance Programs (EAPs) provide. EAPs are comprehensive assistance programs aimed at helping workers and their families deal with personal problems, mental health issues, substance abuse, and other challenges. EAPs typically address issues that may interfere with workplace productivity.

The important role of EAPs for assisting employees has caused their prevalence to grow quite a bit, from 31% of businesses offering them in 1985, to 75% of companies in 2009. EAP programs are also beginning to commonly include elder care, which helps employees do a better job taking care of aging parents and loved ones. Moving forward, we are likely to experience more EAPs being offered that address a wider variety of issues that may interfere with employee performance.

2. Flexible benefit options for contract workers

Today's workforce increasingly consists of temporary employees - freelancers or contractors. This also makes it necessary for businesses to design employee benefit programs that cover contract workers. These team members might not have the same visibility as full-time employees, but they can be just as vital. Contract workers are vulnerable to health and financial instability just like anyone else.

Based on these trends, it's likely you'll see more companies offering contract employees with benefits that will go towards ensuring these workers remain productive while working - even if they work remotely. Look for companies to use “contract benefits” as an important tactic in the war for contingent employee talent.

3. Assistance with student loans

As younger employees replace baby boomers in the workforce, many new workers are concerned about their student loan debt. The primary concern is shifting beyond a healthy 401(k) plan or having enough money in a retirement account. In 2018 and beyond, we are likely to see more employers developing benefit programs that address their workers’ student debt, since the amount of debt held by employees will only increase as baby boomers continue to exit the workforce.

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Topics: Employee Benefits

Employee Benefits Package Example for a Small to Medium Size Business

Posted by Senior Providers Network on Feb 22, 2018 10:00:00 AM

Small and medium sized companies often find themselves at a crossroads. Many have the ultimate goal of growing and developing into larger companies. To achieve this, they look to minimize operational costs in order to invest in growth and expansion over time. Most of these cost-saving tactics target employees and HR costs, because they can be quite high for companies of this size.

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Topics: Employee Benefits

Elder Care Resources are a Necessity in Your Employee Benefits 

Posted by Senior Providers Network on Jan 16, 2018 9:19:54 AM

The issues working caregivers face are serious, and growing every day. Employees juggling an elderly loved one's hospital discharges and physical well-being on top of their job obligations are overwhelmed. With 10,000 people turning 65 every day for the next 13 years, now is the time to offer senior care assistance to your employees.

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Topics: Employee Benefits

4 Signs You Might Need to Change Your Employee Benefits Package

Posted by Senior Providers Network on Oct 5, 2017 11:00:00 AM

Is your company getting a healthy ROI from employee benefits? Do you have low utilization rates, or are your employees unhappy with the resources offered? When it comes to employee benefits, the solutions offered must always be tailored to employee needs and evaluated periodically.

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Topics: Employee Benefits