by admin | May 18, 2022 | Health & Wellness, Hot Topics
Competitive wages are no longer enough to satisfy and support valued employees. Today, a variety of benefits and perks play an essential role in attracting and retaining talent. Lifestyle benefits, sometimes referred to as employee perks, are non-salary benefits given to employees to improve their overall lifestyle that go above and beyond standard medical, dental and vision benefits. These lifestyle benefits are rapidly becoming the future of employee benefits.
Around 60% of employees say benefit offerings are a significant factor in their decision on whether or not to take a new job. That’s why an increasing number of employers are utilizing lifestyle benefit plans to entice high-quality applicants. In fact, studies show that 80% of employees would select more benefits above a pay increase. Moreover, younger employees, like Millennials, are more apt to change jobs than their older Baby Boomer counterparts if they are dissatisfied with the employee benefits offerings available to them.
Lifestyle benefits are benefits to enjoy now. These are meaningful services that meet the needs of employees today. Not tomorrow, next week or even ten years from now. Employees don’t have to be sick, deceased, disabled or over 65 to use them.
In this article, we will explore the 4 “W’s”—Who, What, When, and Why—of lifestyle benefits to explain how you can use this tool to improve your benefits package!
Who Are Lifestyle Benefits For?
Even companies with generous overall benefits packages can suffer from low employee engagement and productivity which can be exacerbated by the massive shift to remote work. Offering perks that are customized to your people’s unique needs is hugely beneficial for companies wanting to increase employee engagement and retention. In the increasingly competitive job market, this really sets employers apart because it demonstrates a vested interest on the part of the employer to provide opportunities for personal, as well as professional growth. Lifestyle benefits, particularly in the form of flexible perk stipends, are an ideal way to offer personalization and also promote an inclusive company culture.
What Lifestyle Benefits Can Employers Offer?
Lifestyle benefits can be customized to meet many different types of needs. For instance, an employee might be sending their child to college for the first time. If they want advisors or financial planners, a lifestyle benefits account can cover it. Or what if an employee wants to take advantage of a gym membership or health app? This could also be covered through a lifestyle benefits program. Everyone benefits from a calm, happy, and valued employee! Other examples of offerings you can include in a lifestyle benefits program include:
When Should You Offer Lifestyle Benefits?
Really the answer to the question of when you should offer lifestyle benefits is-now! Now is the right time to make the most of lifestyle benefits by setting employees up and educating them of their perks.When organizations offer lifestyle benefits, it’s about building positive, long-term relationships between executives, supervisors and employees. It’s about investment and dedication to employee well-being.
Why Provide Lifestyle Benefits at Your Company
There are so many reasons to provide lifestyle benefits but it primarily boils down to one thing: employee satisfaction. Employees want to feel valued by their employers and if this can be achieved by helping them afford the lifestyle they enjoy and envision for themselves, then do it!
We are, after all, living in the age of personalization. Everything in our lives, from our Netflix subscriptions to Spotify playlists is customized to us and our preferences. Lifestyle benefits can be designed in a way that addresses the various needs of your diverse workforce, whether that means supporting a 22-year-old recent graduate living in the city, or a 45-year-old executive with three kids in a home in the suburbs, lifestyle benefits are ideal for that type of personalization and inclusivity, especially in the form of flexible perk stipends.
If companies want the best potential candidates, they have to think outside the box with personalized benefit offerings. Everyone wins with a flexible lifestyle benefits platform. After all, physically and mentally healthy employees are more productive, which is better for the bottom line.
by admin | May 10, 2022 | Health & Wellness, Hot Topics
“Suck it up,” “cheer up,” “snap out of it,” “but you don’t look sick”- these are just some of the phrases that well-meaning friends and family tell loved ones struggling with mental health issues. Research shows that one in five adults struggle with mental health conditions. Mental health struggles include depression, bipolar disorder, anxiety, schizophrenia, and eating disorders.
Mental illness is also becoming increasingly common among teenagers; studies indicate that approximately one in five teens between ages twelve and eighteen are diagnosed with a mental health disorder. These issues deeply impact day-to-day living and may also affect the ability to relate to others. When your mental health suffers, everything in your life will suffer as a result.
What is Mental Health?
Mental health includes our emotional, psychological, and social well-being. It affects how we think, feel, and act. It also helps determine how we handle stress, relate to others, and make choices.
The fact is, a mental illness is a disorder of the brain – your body’s most important organ. Like most diseases of the body, mental illness has many causes – from genetics to other biological, environmental and social/cultural factors. And just as with most diseases, mental illnesses are no one’s fault. For many people, recovery – including having meaningful roles in social life, work and school – is possible, especially when you start treatment early and play a strong role in your own recovery process.
What Are the Warning Signs?
Each illness has its own symptoms, but common signs of mental illness can include the following:
- Avoiding friends and social activities
- Feeling excessively sad or low
- Feeling helpless or hopeless
- Extreme mood changes
- Thinking of harming yourself or others
- Inability to perform daily tasks like taking care of your kids or getting to work or school
- Feeling numb or like nothing matters
- Overuse of substances like alcohol or drugs
- Having unexplained aches and pains such as headaches or stomach aches
- Changes in sleeping habits or feeling tired and low energy
- Feeling unusually confused, forgetful, on edge, angry, upset, worried, or scared
What Are Some Things You Can Do to Look After Your Mental Health?
- Talk About Your Feelings – Just being listened to can help you feel supported and less alone. Talking with a friend or loved one is helpful but remember, therapists are not only for those in the middle of crisis – they’re incredibly beneficial for people in all stages of life
- Exercise regularly – Exercise releases endorphins, which have mood-boosting effects. Aim to exercise about 30+ minutes at least five days per week
- Eat Well – Your brain needs a mix of nutrients to stay healthy and function well, just like the other organs in your body
- Stay Connected with Family and Friends – Close, quality relationships are key for a happy, healthy life
- Take a Break – a change of scenery or pace is good for your mental health
- Get Outside to Enjoy 15 Minutes of Sunshine – Sunlight synthesizes Vitamin D which experts believe is a mood elevator
- Send a Thank You Note – Let someone know why you appreciate them. Written expressions of gratitude are linked to increased happiness
- Practice Forgiveness – People who forgive have better mental health and report being more satisfied with their lives
- Pursue Your Passions – Enjoying yourself can help beat stress and achieving something boosts your self-esteem
- Sleep – Most adults need around 8 hours of sleep each night so try to make sure you’re getting enough shut-eye
Mental health is undoubtedly just as integral as physical health but it’s something that we often don’t prioritize. We all experience times when we feel stressed or overwhelmed but if these feelings persist, it’s time to slow down and re-evaluate your mental wellbeing.
Most people are afraid to ask for help, but seeking help is actually a sign of strength, not weakness. If you or someone you know is struggling with their mental health, please reach out to a local mental health professional.
by admin | Mar 21, 2022 | Health & Wellness, Human Resources, Workplace
Question
We’ve been both super busy and understaffed recently. Is there anything we can do during this time to help our employees avoid extra stress or burnout before we can hire more employees?
Answer
Yes. Here are a few things you can do to make this time run as smoothly and stress-free as possible:
Remove nonessential work duties: For the positions that seem most stretched, make a list of tasks that could be put on hold (or perhaps reassigned). You can invite input from employees, too, but I’d recommend acknowledging that they’re overwhelmed and saying that you’ll do your best to alleviate some of the pressure. Then hold off on nonessential tasks until business slows down or you’ve increased your headcount.
Allow for flexible scheduling: If employees need to work longer hours on some days during the week, consider allowing them to work fewer hours on other days of the week. Note that some states have daily overtime, spread-of-hours, or split-shift laws.
Budget for overtime: Employees may need to work extra hours to keep up with the current demands of their job, so allow them to work overtime if you (and they) can swing it. If you’re pretty sure overtime will be necessary, inform employees of that ahead of time, so they can plan accordingly.
Ensure all equipment is fast and reliable: It’s important to identify, troubleshoot, and correct any slow or nonworking equipment issues (such as laptops, internet hardware, cash registers, or vehicles). If not resolved, these issues can slow down work and add to everyone’s stress.
Look for ways to automate: Consider whether any of your employees’ manual and time-consuming tasks could be eliminated or simplified with the use of new or different technology.
Increase safety protocols: Employee absences related to COVID have created a significant strain for many employers during the pandemic. Shoring up your safety protocols may reduce the risk of COVID-related absences because of sickness or exposure. Depending on your circumstances, examples include improving ventilation, encouraging or requiring vaccination, requiring employees to wear masks, and allowing employees to work remotely when possible.
By Megan Lemire
Originally posted on Mineral
by admin | Feb 14, 2022 | Health & Wellness
February is American Heart Month, a time when all people can focus on their cardiovascular health. Do you know how to keep your heart healthy? You can take an active role in reducing your risk for heart disease by eating a healthy diet, engaging in physical activity, and managing your cholesterol and blood pressure.
Heart disease accounts for nearly one-third of all deaths worldwide. Studies and experts recommend exercise as an important way to maintaining a healthy heart, but your diet plays a major role in heart health and can impact your risk of heart disease. The most important factor in healthy eating is having a balanced diet, watching portions, and eating foods you actually enjoy. This will allow you to stick with it for the long term.
Let’s take a closer look at the 4 key factors for a heart healthy diet and examples of how you can incorporate them into your daily life:
1. Fruits and Vegetables:
Leafy green vegetables are well known for their wealth of vitamins, minerals, and antioxidants. An analysis of eight studies found that increasing leafy green vegetable intake was associated with up to a 16% lower incidence of heart disease.
2. Healthy Proteins:
Lean meat, poultry and fish, low-fat dairy products and eggs are some of your best sources of protein. Legumes – beans, peas and lentils – are good, low-fat sources of protein and are a good substitute for meat. Also, substituting plant protein for animal protein – ie. a black bean burger for a hamburger – will reduce your fat & cholesterol intake and increase your fiber intake.
3. Healthy Fats:
Not all fats are bad. Foods with monounsaturated and polyunsaturated fats are important for your brain and heart. Limit foods with trans-fats, which increase the risk for heart disease.
4. Whole Grains:
Whole grains are good sources of fiber and other nutrients that play a role in regulating blood pressure and heart health.
Eating heart healthy is a lifestyle, it’s about nutrition, balance and retraining our mind to make better food choices. What you eat can influence almost every aspect of heart health, from blood pressure and inflammation to cholesterol levels and triglycerides. A well-balanced diet can help keep your heart in good shape and minimize your risk of heart disease. With planning and a few simple substitutions, you can eat with your heart in mind!
by admin | Feb 9, 2022 | Health & Wellness
Workplace wellness programs have increased in the past several years to promote healthy diets and lifestyle, exercise and other behaviors such as quitting smoking. As of 2020, most employers had wellness programs of some kind, including 53% of small firms (those with 3-200 employees) and 81% of large companies. Since employees spend most of their waking hours on the job, wellness programs seem to be a natural fit to try to promote healthy changes in behavior. But, in 2022, employees want more; many workers are looking for employers who show authentic concern for their well-being.
Well-being is about how our lives are going. It’s not only about health and happiness but also about living life to its fullest potential. In fact, data shows that employees of all generations rank “the organization cares about the employees’ well-being” in their top three criteria.
Financial stress soared during the pandemic but so did regular stress, too. Mental health struggles such as anxiety, depression, and substance abuse are also climbing. These are expensive issues to ignore both in terms of the human suffering but also the company’s bottom line: Depression alone costs an estimated $210.5 billion per year. These costs are due to absenteeism (missed work days) and presenteeism (reduced productivity at work) as well as direct medical costs (outpatient and inpatient medical services and pharmacy costs).
Employers must recognize the interrelationship between the physical, financial, work and well-being components of employees’ lives. For example, employees who need help with their financial well-being are significantly less likely to be physically healthy and more likely to report feeling stressed or anxious which can impact productivity and job performance. Vice President for Communications at Fidelity Investments in Boston, Mike Shamrell, recognizes the need for all dimensions of wellness. “It’s tough to be well in one area when you’re unwell in another,” he said.
Well-being is often associated with gym memberships and green smoothies but it is much more than that; it is a result of many different aspects of one’s life. Here are 5 common dimensions of well-being that can be addressed through a workplace wellness program:
- Emotional/Mental Health – Understanding your feelings and coping with stress.
- Physical Health – Discovering how self-care can improve your life and productivity.
- Financial Health – Successfully managing your money.
- Social Connectedness – Creating and being a part of a support network.
- Occupational Well-Being– Feeling appreciated at work and satisfied in your contributions.
Great employees want great employers. Companies that want creative, high-performing teams must be willing to support workers both in and out of the office. Well-being has a major influence on an employee’s performance and satisfaction; employees who feel valued and appreciated are more invested in their company in return.
by admin | Feb 1, 2022 | Health & Wellness
While the new year feels like a fresh start for most workers, it’s also expected to come with a spike in health insurance premiums. Premiums and deductibles have been steadily increasing for years. The Kaiser Family Foundation (KFF) found that premiums for a family rose 4% in 2021, according to a survey focused on employer-sponsored benefits.
The average family pays $22,221 in premiums, according to KFF. Workers contributed $5,969 toward their coverage, while employers paid the rest. In fact, since 2011 the average family premiums have increased 47%, which KFF found was more than wages (31%) and inflation (19%).
Not only is this a financial hardship for American families, but it’s also draining companies that are struggling to maintain employee coverage. To complicate the matter, several federal programs providing support for healthcare are due to expire in 2022.
What to Expect in Healthcare Coverage
Rising healthcare premiums are only part of the problem. Deductibles are also skyrocketing. This is the amount workers have to pay before insurance kicks in and could make a huge financial difference for families dealing with a serious health issue.
The average single deductible has doubled in the last decade to $1,669. For the more affordable healthcare plans, deductibles can be as high as $8,000. Overall, 85% of the 155 Americans with employer-sponsored coverage have a deductible.
Another survey conducted by the Business Group on Health anticipates healthcare costs increasing by as much as 6% in 2022. Analysts pointed out that 2021 rates actually flattened out slightly because many Americans avoided treatments during the pandemic. That’s expected to end in 2022, which will drive up prices. Of all employers surveyed by BGOH, 94% expected higher medical costs because of delays in treatment.
Expiring Federal Support Programs
Federal legislation is also expiring in January 2022. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was one of the first bills signed in 2020 to help workers. It gave money to businesses, enhanced unemployment programs, and funded hospitals.
One provision known as “safe harbor” allowed high-deductible health plans to cover telehealth and remote care services at little to no cost. The CARES act expired on December 31 and will now impact who is eligible for telehealth services.
Another rule under the American Rescue Plan Act (ARPA) in 2021 allowed for mid-year election changes for Dependent Care Reimbursement Accounts (DCRA). This allowed workers to elect higher limits to help pay for childcare pre-tax. The ARPA also expires on December 31. If the new higher exclusion limit is not extended into 2022, families will have to contend with the previous $5,000 limit.
Around 30 million Americans get their health coverage from the Marketplace, which was established by the Affordable Care Act. With more enrollees and more available plans in 2022, experts anticipate a change in premium subsidies that could increase the total price people have to pay.
Navigating the Future
Regardless of what employers decide to do, HR departments need to be proactive in guiding employees through the process. Healthcare decisions are complex and no company wants disgruntled workers as a result of cutting or switching plans without notice. Clear communication and assistance are necessary to ensure a smooth transition that is beneficial for everyone.
Companies and HR departments should also keep in mind that the benefits they ultimately choose will define future recruiting. Healthcare benefits are a top decision-making factor for most prospects.
By Mckenzie Cassidy
Originally posted on HR Exchange Network
