FBMC Benefits Management’s Post

How do your family benefits stack up? Family-centric benefits are hot right now, and for good reason. According to SHRM’s 2023 survey, parental leave and family care benefits rank among employees’ top five most important benefits. As the workforce gets younger and more vocal about their needs, employers are finally getting wise to the benefits that will actually retain these employees long-term. But the benefits your young employees need look very different from the benefits your older employees need. If you’re not sure which benefits would make a difference to your employees, it’s time to do a demographic study and an employee survey. When was the last time you benchmarked? #Healthcare #FamilyBenefits #EmployeeBenefits #EmployeeBenefitsConsultant

Customization will unlock the full potential of invaluable resources: Meeting every employee's unique needs is nearly impossible. So why not let them choose their own benefits?

An aspect of a #safe and #traumainformed workplace that often gets overlooked is #FinancialSafety for our teams. And based on new research, it's clear that our teams need us to stop overlooking financial safety and well-being. "Recent research by Willis Towers Watson (WTW) found only 23% of employers ranked financial well-being as a top priority for their worker well-being programs over the next three years. Yet, according to a newly released WTW survey of 10,000 U.S. employees, two-thirds (66%) of them ranked financial well-being as the area where they want the most support from employers." As we gear up for benefits season and open-enrollment, I hope you are considering what you can do to better support your team's financial safety and wellbeing. #traumainformed #traumainformedworkplace #benefits #hrcommunity

When it comes to employee benefits, the debate between point solutions and platforms has been ongoing for years. Companies often shift their focus between retaining younger employees and ensuring older employees are well-served. But one thing remains constant—healthcare is the top priority for older employees. In our experience, employers that want to retain and engage their older workforce must focus on providing robust healthcare benefits, not just for the employees but for their families as well. Additionally, offering creative support to help employees navigate the healthcare system is essential, especially as healthcare needs evolve with age. Is your company focusing on the basics? Prioritizing healthcare and retirement benefits for older employees can make a significant impact on retention and engagement. #EmployeeBenefits #EmployeeEngagement #HealthcareBenefits #WorkplaceWellness #OlderEmployees #HRStrategy #Retention #Medicare

Strong benefits could set your company apart. From legal assistance to paid leave, here are a few to consider, based on recent survey results. #HR #humanresources #workplaceguidance #benefits

📢 Attention HR and Business Leaders in the North West of England! Join us in this trial to support local, eligible SMEs. We are proudly serving Cumbria and Lancashire, as an approved provider in a pioneering pilot programme by the Department for Work and Pensions (DWP) and the Department for Health and Social Care. Why Participate? 👉 There is 80% discount on workplace health assessments ( aka occupational health assessments) for as many employees as needed. You only pay 20%! 👉Robust assessments focused on how your employees’ health interacts with their work environment. 👉Experience long-term advantages such as reduced absenteeism and increased productivity. Benefits to Your Organisation: 👉 Gain valuable insights into how to support your employees’ health in the workplace. 👉Develop strategies to enhance workplace wellbeing and operational efficiency. 👉Receive a comprehensive post-assessment report with advice on available support for your staff. Exceptional turnaround time! Find out more and check if you are eligible on our website: https://lnkd.in/encse5BH Don't miss out on this exclusive opportunity to support your team's health and drive your business forward! I am here to answer any questions and guide you through the process. If you have any contacts in the area that could benefit, please share! OH One - Occupational Health #occupationalhealth #HRcommunity

🤷🏻♂️ Overwhelmed by what benefits I should offer to my employees? You’re not alone. Over the past two years, there has been a 23% increase in the number of available benefits to offer. Examples: ⚕Core Benefits: health care offerings, retirement options, and paid time off 📚Education Benefits: financial, volunteering, and family care ⭐Niche Benefits: menopause support and grandparent leave Trying to balance cost, relevance, and appeal is becoming increasingly difficult. How do you determine what to offer to be competitive, attractive, and desirable to current and prospective employees? 📣 Ask your employees! Use surveys, focus groups, and/or direct feedback to gauge what benefits employees value most. Consider a stack rank or conjoint analysis to determine what employees value most. Look at your current enrollment and utilization rates and then drill down on why certain benefits have greater participation than others. 📈 Benchmark! This is another useful tool to determine what is available, what other employers are doing, and how well your current benefits stack up against those in your industry/region. 👓 Observe the market! Mental and financial health have been top of mind the last few years. Many employers already offer these resources. Perhaps it is time to embellish and improve some of the benefits already being offered. Flexibility and customization are key. Consider benefits that are dynamic and can be customized for each employee’s differing needs and wants. As an example, Lifestyle Spending Accounts (LSAs) have proven helpful in offering employees a myriad of uses for dollars available to them.

✴️ Offering competitive work-family employee benefits is becoming a business necessity. This year, 94% of workers described family benefits as “important” or “extremely important,” in a survey by Ovia Health. Nearly three-quarters of those surveyed said they would switch companies for better family benefits. Forbes 1. Employees Are Prioritizing Paid Leave (Even More Than Employers Realize) 2. Rising Expectations For Reproductive Healthcare Benefits 3. Menopause Is More Than Just A Hot Flash 4. Increasing Demand For Work-Family Benefits Transparency #FamilyBenefits #BenefitTrends2025 Brown & Brown

The guide to best practices for employee benefits across the life stages from TIAA Institute and GCOA has a fresh new look - read it here: https://lnkd.in/ePcsGCpy Benefits are key for an effective #employeevalueproposition. With only 66% of employees satisfied in their jobs and major changes taking place in the workplace due to changing culture and technology, employers should be asking – are our #benefits are doing enough to keep employees happy, healthy, and productive? To stay competitive in #recruiting and retaining employees of every age, employer-provided benefits can be designed to meet the needs of employees at every life stage – from early adulthood to parenthood and #caregiving to later life and #retirement. For the latest innovation in employee benefits, check out the updated knowledge brief from Global Coalition on Aging and TIAA Institute, “Best Practices for Employee Benefits in Different Life Stages.”

🔍 Stay Ahead of the Curve in 2024: Key Benefits Trends to Watch! 🔑 Employers are tackling rising healthcare costs and evolving leave policies while striving to boost benefits utilization and address mental health needs. Understanding these trends is crucial for staying competitive and meeting employee demands. 🌟💪 1️⃣ Rising Health Care Costs: Employers are finding it challenging to manage health care costs, with a predicted 5.4% increase in 2024. Inflation, health system consolidation, and expensive therapies are driving these costs up. 💊💸📈 2️⃣ Evolving Leave Policies: States are increasingly enacting paid leave laws, and employers are embracing diverse types of paid leave to support their workforce. This includes family, medical, sick, and even volunteer leave. ✌️😎🏝️ 3️⃣ Personalized Benefits: With a multigenerational workforce, personalized benefits like health savings accounts, lifestyle spending accounts, and pet insurance are becoming more attractive. 🐾🏦 4️⃣ Emotional Salary: Beyond traditional compensation, emotional salary elements like recognition, career growth opportunities, and work-life balance are key to attracting and retaining talent. 💼🫂👪 5️⃣ Mental Health Benefits: Anxiety has become a top workplace issue. Employers are focusing on mental health benefits to support their employees' well-being. 🧠🧘🌱 6️⃣ Financial Wellness: Financial stress remains a concern. Employers are offering resources to help employees with retirement planning, managing debt, and developing good financial habits. 💰🤑 Understanding these trends helps employers create a supportive and competitive environment, fostering employee loyalty and satisfaction. 📊😁 #BBG #HR #Benefits2024 #EmployeeWellbeing #HRTrends #HealthCareCosts #PaidLeave #PersonalizedBenefits #EmotionalSalary #MentalHealth #FinancialWellness #WorkplaceTrends #EmployeeEngagement #TalentAcquisition 💼✨