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Employee Retention and Work / Life Balance
Human Resource Executive highlights two recent studies on work / life balance and it's influence on an organization's retention rate. Both surveys concluded that when an organization is able to support a healthy work / life balance with sustainable working patterns, it reduces turnover and operating costs and increases employee satisfaction and productivity. Other highlights from the report include:
- 95% of survey participants felt "happiest" when an employer allowed them to meet family obligations.
- 52% of employees at organizations with work / life balance programs reported they are likely to stay at their current company for five years or more.
- Over 25% of employees who feel they do not have a healthy work / life balance plan to leave their organization within the next two years.
- Almost 70% of individuals unsatisfied with their work / life balance felt they were paid unfairly. Conversely, 58% of individuals who reported that they have a healthy work / life balance felt that they were adequately compensated for their work.
Click here to read the full article...
The Truth About Wellness Programs
Chronic diseases like obesity and diabetes account for three-quarters of US healthcare costs. As a result, organizations are incorporating health and wellness programs to reduce their firm's medical costs and encourage employees to change or modify unhealthy behaviors. Part of these initiatives incorporate on-site medical tests and screens as a way to identify, educate, and treat employees with conditions like high blood pressure and cholesterol. Although this proactive approach may seem beneficial, a recent article from Business Week explains that this cost-cutting measure may not be as effective as it seems. In fact, it may contribute to the $210 billion the US health-care system has already spent on unnecessary care. Other items to consider before implementing an employee wellness programs include:
- "Playing Doctor": HR departments, or the ring-leaders of these wellness programs, have assumed the role of "playing doctor" and giving advice on topics they have no professional background in.
- Unnecessary Care: Organizations are actually spending more on excessive treatments and over-the-top testing procedures than they would on the cost of an unhealthy employee's medical coverage.
- Unhealthy Employees Bear Higher Costs: Programs that incorporate financial penalties or rewards may prohibit an unhealthy employee from being able to pay for proper treatment.
- Sending Inconsistent Messages: Wellness programs are only effective when the entire workplace commits to a healthy attitude. Otherwise, employees are told to make healthy decisions in the office but are offered pizza and soda in the cafeteria.
Click HERE to read the full article...
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Things to Consider When Hiring a Recent Grad
When hiring someone straight out of college, we tend to forget how green and inexperienced those new to the workforce can be when it comes to the inner workings of a business. To this end, you need to consider how you are going to educate, orient, and nurture a recent grad hire in addition to how you are going to integrate them into your workplace in order to secure productive behavior from them. Some formal "buddying" or mentoring goes a long way. Pairing up the new hire with someone a bit more experienced, but ideally close to their age, can help ease the transition. Overall, just be aware and be prepared for some bumps in the road.
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Interview Question of the Week
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Q: How often should performance appraisals be done?
A: Performance Appraisals should be performed a minimum of once a year. If it is feasible the ideal structure is to do these 2x a year or even once a quarter (in some abbreviated format). Note that the delivery of a written appraisal should not be seen as a replacement for providing regular feedback to your employees throughout the year on their performance.
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Legal Disclaimer
Information provided in The OperationsInc Navigator is researched and reviewed by the HR experts at OperationsInc. The information in every issue of The OperationsInc Navigator is in part gathered via information available in the public domain, as well as in part the original, copyrighted work of OperationsInc and is protected under U.S. copyright laws. As such, you may not reprint or publish in any format any article or portion of article The OperationsInc Navigator without the express permission of OperationsInc. OperationsInc provides the information in this e- newsletter for general guidance only. The information provided herein should not be used as a substitute for consultation with professional human resources, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation.
We encourage you to pass along any issue of The OperationsInc Navigator by forwarding it to friends and colleagues. |
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New I-9 Form
Click HERE for article
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3/8/13 FMLA Poster Update
Click HERE for article
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USCIS Reaches FY 2014 H-1B Cap
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2013 Minimum Wage Increases
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New York Minimum Wage to Increase in Stages
Click HERE for article
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Upcoming Training Events
May 22, 2013
Webinar
The Basics of HR Administration
May 22, 2013
Norwalk, CT
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Have questions about The Affordable Care Act?
OperationsInc is here to provide the answers.
Click HERE to contact our team of experts.
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Did You Know...
How do you know if your current Summary Plan Description is complete? Would you be found non-compliant if audited?
OperationsInc's Summary Plan Description Audit will identify strengths and weaknesses and implement solutions where needed. As Subject Matter Experts in the area of SPD development and compliance, we are prepared to assist you with your needs. We will:
- Review them for content and compliance.
- Compare what is referenced in the SPD(s) vs. what you truly offer as benefits.
- Review to Insure that all legal requirements are being met.
- Identify gaps....and fill them.
Why is Summary Plan Description (SPD) Compliance Important?
Each year, the Employee Retirement Income Act (ERISA) requirements change, forcing employers that offer Medical / Dental Benefits to update their SPD(s). What you may not be aware of is that the carriers and even the brokers do not always deliver a fully compliant document to you. We can assess your existing SPD(s) to ensure that you are acquiescent with current federal regulations.
Click HERE for more information.
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