Yesterday, Navera president and CEO Steve L. Adams shared tips on taking advantage of voluntary benefits; today, we present more on this compensation trend and how to ask the right questions during implementation.
MetLife’s 12th Annual U.S. Employee Benefit Trends Study found that 60 percent of employers agree (and 34 percent strongly agree) that the reason they offer voluntary benefits is to replace employer-paid benefits programs to reduce benefits costs. It also showed that 80 percent of employees value benefits that are personalized to their own circumstances and ages.
It is interesting, then, that the same study found a dip in the number of companies that agree with the statement “voluntary benefits are a significant part of our company’s benefits strategy.” Some theorize that in 2015 employers will be mainly focused on complying with the Affordable Care Act, which will make them less likely to implement new benefits. How can you prevent voluntary benefits from falling through the cracks?
All the California-specific employee handbook policies you need, fully updated for 2015. Learn more.
Ask the Right Questions
With clear advantages, but also some uncertainties, to voluntary benefits, it’s important for employers to tailor their offerings to maximize employee participation. Here are three questions to consider.
- What are the demographics of our company, and how might they change with future recruits? While the MetLife study showed that personalized benefits are appealing across generations, they are particularly popular among Gen Y (also known as Millennials), 86 percent of whom favor them. If Millennials are a key factor in your recruiting strategy for 2015 (and they most likely are), voluntary benefits will help attract them.
- Which benefits will appeal to most employees? Based on the present and predicted future demographics, select your benefits offerings to align with your goals of recruiting and retention. Health products drove most 2014 growth (for example, critical illness and accident insurance in particular have grown at rates in the double digits for the past several years), but focus on products that will fit your employees’ unique needs.
- How can we present these products in a way that doesn’t cause information overload? Sixty-four percent of employees are interested in having their employer provide a wider array of voluntary benefits, but keep in mind that it is possible to have too much of a good thing. An overload of confusing options can cause employees to disengage from the whole process altogether.
All the California-Specific Employee Handbook Policies You Need
Our fully updated HR Management & Compliance Report the California Employee Handbook Template includes 101 vital policies—written specifically for employers in California and fully updated for 2015—including:
- At-Will Employment
- Employee Classifications
- Social Media Code of Conduct
- Right to Observe Employees
- Voice Mail, E-mail, Electronic and Computer Files, and Usage
- Appearance and Courtesy; Uniforms
- Equal Employment Opportunity
- Harassment Prohibited
- Retaliation Prohibited
- Bullying Prohibited
- Accommodation of Disabilities
- Zero Tolerance for Drugs or Alcohol in the Workplace
- Terminations
- Final Pay
- Progressive Discipline
- Rest Periods
- Meal Periods
- Overtime Pay, Authorization, and Mandatory Overtime
- Payroll Deductions
- Travel Time Pay
- Bereavement Leave
- COBRA Coverage for Health Insurance
- And 79 more!
Brand-New for the 2015 Edition:
- New policy on use of personal cell phones in the workplace
- Updated social media policy
- Updated antiharassment policies: New FEHA protection for unpaid interns and volunteers
- Updated policy against workplace bullying to reflect the new law on prevention of abusive conduct
- New policy on recovery periods
- Updated sick leave policy reflecting the requirements of California’s Healthy Workplaces, Healthy Families Act of 2014
- New policy covering request for flexible work arrangement under San Francisco’s Family Friendly Workplace Ordinance
- New paid family leave policy
- And more!
Fully Editable and Customizable for Your Workplace
All of the policies are fully editable and customizable—when you order, you’ll get a link to editable Word versions of all 101 policies.
Every policy in the California Employee Handbook Template has been drafted by an experienced California employment lawyer. Plus, we’ve provided practical information for every single policy on:
- Which employers the policy applies to
- Which employees the policy applies to
- Whether the policy is required or optional
- Special considerations
It’s like having a California employment lawyer on call, working on your handbook 24/7, at a fraction of the cost!
Best of all, we’ll send you a brand-new edition each year so you always have the most up-to-date policies available. Don’t delay—order now, and get all your handbook questions answered once and for all.
Download your copy of Employee Orientation: How to Energize, Integrate, and Retain Your Newest Hires today!
Download your copy of Employee Orientation: How to Energize, Integrate, and Retain Your Newest Hires today!
Info overload is a real problem, especially with older employees who often long for the day when benefits were WYSIWYG–they didn’t have options but got what they got, so they didn’t have to think about it.