by Devon Bellamy | Nov 28, 2023 | Employee Benefits, Employee Recruitment, Mental Health in the Workplace
The world of employee benefits is transforming significantly due to changing work dynamics and post-pandemic employee needs. There’s no question that COVID-19 reshaped the way we work. In addition to changing what day-to-day work life looks like, the pandemic shone a spotlight on adaptable benefits, particularly ‘Time Off.’ This could be good news.
Although many companies embrace the changes that occurred then, such as remote work and flexible schedules, others pine for a return to “normalcy.” Some are adopting a middle-ground “hybrid” approach as a sort of compromise.
As businesses navigate the changing tides, understanding the importance of time off is crucial. It goes a long way toward ensuring employee well-being, productivity, and satisfaction.
Here at Launchways, we take a closer look at this fascinating trend.
Changing Priorities in Employee Benefit Trends
The pandemic reshaped the understanding of traditional employee benefits, highlighting the emergence of ‘Time Off’ as a critical aspect. In a landscape fluctuating between remote, hybrid, and office setups, recognizing the value of time away from work has become essential.
It’s more than just vacations; it’s about meeting the evolving needs of a workforce seeking flexibility, mental health support, and work-life balance.
Addressing Post-Pandemic Employee Needs
Employees’ needs have transformed post-pandemic, with mental health concerns rising sharply alongside the demand for flexible work arrangements. These concerns significantly affect workforce productivity, with an estimated global loss of 12 billion workdays annually to depression and anxiety, costing about $1 trillion.
Both companies and workers look for answers. Unfortunately, many are unaware of their options, and many more need help navigating them.
Simplifying Time-Off Laws and Regulations
Navigating paid leave laws like Paid Family Leave (PFL) alongside existing ones such as the Family and Medical Leave Act (FMLA) has become more complex. Changes in state regulations, like those in Oregon and Colorado, add confusion.
Managing Family and Medical Leave (FML) can be tricky, requiring a knowledgeable HR team to ensure compliance and guide employees through the process.
Prioritizing Employee Understanding and Accessibility
Educating employees about their rights under FMLA is crucial. When employees know how to request leave and what documents are required, they’re more likely to seek help when needed. Ensuring job security upon return and providing a simple process to request FMLA, integrated with other benefits, is essential for consistency and ease.
Offering ‘Time Off’ as a Premier Benefit
‘Time Off’ has expanded its role in employee benefits, directly impacting employee satisfaction, retention, and overall well-being. To ensure more accessible access to FML (Family and Medical Leave), simplifying the request process by integrating it with other employee benefits, like 401K, payroll deductions, and Employee Assistance Programs (EAP), proves effective. A unified platform or system that merges FML with these benefits streamlines accessibility.
Employing standardized software prevents inconsistencies, which is vital for large employers managing different regional accesses, promoting uniformity in FML availability. This approach eliminates barriers and enhances access to crucial leave benefits.
Offering ample vacation time isn’t just a perk; it’s an investment in workforce health and productivity. But how can your company effectively manage employee time off in these complex times?
Strategies for Effective Time-Off Management
Adapting HR strategies is vital to meet evolving workforce preferences. Customizable leave policies, automation, and technology-driven solutions streamline leave management, optimizing workforce productivity.
HR’s Responsibility in Effective Policy Implementation
HR leaders are crucial in aligning policies with employee needs and business goals. Educating employees, ensuring compliance, and fostering an equitable work environment are essential components.
Prioritizing ‘Time Off’ for a Thriving Workforce
Ample leave reduces burnout, enhances mental health, and boosts employee satisfaction, positively impacting organizational performance.
Challenges and Solutions in Embracing ‘Time Off’
Managing time off amid changing laws requires clear guidelines and simplified processes, ensuring employees understand their rights.
Key Takeaways
‘Time Off’ has evolved into a cornerstone of modern employee benefits. Recognizing its impact on well-being, productivity, and organizational success is crucial. Businesses must embrace and prioritize this evolving benefit to cultivate a resilient workforce in the post-pandemic era.
- Prioritize understanding employee needs for flexibility and mental health support.
- Educate employees about FMLA rights for easy access to support when needed.
- Integrate FMLA request processes with other benefits for consistency and simplicity.
- Recognize the strategic value of ‘Time Off’ in fostering a healthier, more productive workforce.
As time passes, it becomes increasingly evident that change is here to stay. The “new normal” requires a degree of flexibility. We at Launchways intend to remain up-to-date and will ensure our clients remain informed.
by Jim Taylor | Nov 20, 2023 | Company Culture, Employee Retention, Human Resources, Mental Health in the Workplace, Uncategorized
HR strategies, mental wellness, inclusivity, workplace productivity. These are more than just buzzwords. Together, they form the framework that results in a well-managed workforce of content employees or an environment of apathy.
It’s no secret that today’s work environment is a dynamic canvas, constantly shifting and demanding new strategies to optimize productivity and support employee wellness. As HR specialists, our role is pivotal in adapting strategies to optimize productivity while prioritizing employee wellness.
As someone who’s been in HR services for years, I understand the challenge of adapting to these changing needs. That’s why Launchways is here to share some insights and strategies to navigate these changes effectively.
Flexibility: Embracing Change for Better Work Dynamics
Remember when the traditional 9-to-5 was the gold standard in Chicago? Well, times have changed. The rise of remote work and hybrid models has challenged the norms. Embracing this change by offering flexible schedules or remote options can significantly boost morale and productivity.
In fact, flexibility has become one of the most common employee demands in recent years. According to Achievers Workforce Institute (AWI), it is the number one reason workers change jobs. Hybrid work schedules allow for better work-life balance. It offers a more relaxed, focused approach to tasks resulting in up to a 20% increase in employee satisfaction.
Efficiency: Streamlining HR Processes for Maximum Output
Efficiency – the holy grail of productivity remains the cornerstone of productivity. Embracing automation tools within HR operations can work wonders. From applicant tracking systems to onboarding software, automation minimizes manual tasks, letting your team focus on what truly matters.
I remember when the recruitment process was time-consuming and arduous. It used to take weeks. With the integration of automated systems, we witnessed a remarkable reduction in hiring time. It cut that down by half allowing our team to concentrate efforts on engaging with potential candidates more effectively.
Inclusivity: Fostering Diversity for a Supportive Environment
Inclusivity isn’t just a buzzword. It’s the cornerstone of a thriving workplace. Creating an inclusive workplace goes beyond fulfilling diversity quotas; it’s about valuing different perspectives and creating an environment where everyone feels respected and heard.
Initiatives like mentorship programs focusing on diverse talent have proven instrumental in nurturing a sense of belonging and driving innovation through varied viewpoints.
Mental Wellness: Prioritizing Employee Health and Resilience
Employee well-being is non-negotiable. They are integral components of a productive workforce. Prioritizing mental health support programs and promoting work-life balance isn’t just a nice gesture – it’s crucial.
Witnessing a colleague burn out due to a heavy workload and lack of support was an eye-opener. It really highlighted the urgency for prioritizing employee well-being.
Implementing regular check-ins, wellness seminars, and flexible hours has helped us not only retain talent but also boosted overall productivity and creativity.
Automated Solutions: Revolutionizing HR Practices
Welcome to the age of AI and machine learning! The adoption of AI-driven recruitment tools has revolutionized HR’s hiring process in the following ways:
- Enhancing decision-making capabilities through data analysis
- Improving candidate sourcing
- Offering insights for strategic planning
The implementation of AI-driven recruitment tools not only expedited our hiring process but also facilitated the identification of top talent, leading to reduced turnover rates. They don’t just make life easier. It’s like having a reliable assistant who never sleeps!
Actionable Steps for HR Leaders
In this ever-evolving landscape, HR leaders hold the compass to navigate through change successfully. Embracing flexibility, streamlining processes, fostering inclusivity, prioritizing mental wellness, and integrating automated solutions are the pillars of building a resilient, thriving workplace.
Assess your current HR practices. Identify bottlenecks and areas where automation can lend a helping hand. Invest in tools that align with your company’s culture and goals. Remember, employee feedback should be your guide. Adapt and evolve based on their needs.
So, fellow HR practitioners, let us collectively steer our organizations toward a workplace that not only thrives in productivity but also champions the holistic well-being of every individual. Together, we can create a workspace where success and happiness coexist.
For more information, reach out to the professionals at Launchways.
by Devon Bellamy | Nov 13, 2023 | Employee Benefits, Human Resources, Open Enrollment
It’s that time of the year again – open enrollment. Sure, for “Zillennials” (the micro-generation that falls between Generation Z and Millennials), talking about benefits and paperwork might not be the most exciting thing.
Trust me, though; getting it right can make a difference. Let’s dive into some key strategies for this age group to navigate open enrollment success.
Understanding Zillennial Perspectives on Open Enrollment
Zillennials tend to want things quick, digital, and hassle-free. The days of lengthy paperwork and confusing benefit structures are a thing of the past. Today’s new employees value benefits that align with their lifestyles and aspirations. So, for open enrollment success for Zillennials, let’s keep it streamlined and relevant.
Plus, let’s talk tech. Zillennials grew up in the digital era, and they’re not afraid to embrace it. Automated solutions and user-friendly interfaces are their thing. When choosing benefits, they appreciate platforms that make the process straightforward, allowing them to make informed decisions without the headache.
Open Enrollment Challenges for Zillennials
One of the challenges often faced today is information overload. So many options and so many details – it can get overwhelming.
Plus, have you ever tried to enroll in benefits using a clunky interface? It’s like trying to order food from a confusing menu. When it’s complicated, they’re out.
Clear communication is critical. Employers, break down open enrollment for Zillenials. Simplify the jargon and highlight what matters most. Trust me, they’ll appreciate it. Zillennials thrive on simplicity.
User-friendly interfaces also make the process smoother, ensuring they can get in, get their benefits sorted, and get back to what they do best – living their lives.
Leveraging Automation for Open Enrollment Success
Let’s talk about the game-changer – automation. Automated HR services are like having a personal guide through the benefits maze. They streamline the process, provide real-time assistance, and ensure Zillennials don’t miss opportunities. Plus, these servives fit perfectly into their fast-paced lives.
Automation isn’t just a buzzword; it’s a friend that simplifies complex tasks. Personalize the experience, highlight the options that align with their needs, and let them make decisions at their own pace. It’s all about empowerment.
A Step-by-Step Guide for Zillennials
Step 1: Know What You Need
Before diving into benefits, understand your needs. Are you focused on health coverage, planning for the future, or looking for perks that fit your lifestyle? Knowing this sets the stage for a successful open enrollment experience.
Step 2: Explore Your Options
Don’t settle for the default. Explore the available benefits. There might be hidden gems like wellness programs, flexible spending accounts, or lifestyle perks. Choose what resonates with you and adds value to your life.
Step 3: Seek Guidance When Needed
If you’re feeling lost, don’t hesitate to seek guidance. Reach out to your HR department, use available resources, or leverage automated assistance. Remember, open enrollment success can feel like a significant moment – make the most of it.
The Takeaway
To ensure open enrollment success, choosing wisely is the key for Zillennials. Keep instructions simple, embrace technology, and prioritize clear communication.
In the world of information overload, clarity is everything. When communicating benefits, keep it concise. Break down the details into digestible chunks. Remember, Zillennials are more likely to engage with content that respects their time.
Use contemporary tools. From benefit calculators to decision-support tools, nteractive tools make the process engaging and informative. During open enrollment, guide Zillennials through the options interactively. It’s like having a conversation, minus the confusion.
Tailoring open enrollment for Zillennials isn’t just about the present; it’s an investment in the future. Companies that understand their needs today build a foundation for lasting employee satisfaction, loyalty, and productivity.With the right benefits consultant by your side, open enrollment success for this demographic is not just a goal – it’s a reality. Let’s make benefits work for us, not the other way around.
by Jim Taylor | Oct 30, 2023 | Compliance, Diversity & Inclusion, Human Resources
In 2023, the number of lawsuits filed by the Equal Employment Opportunity Commission (EEOC) saw a significant 52% increase. This has left businesses wondering about what might happen in 2024.
As a protector of workers’ rights, the EEOC makes sure that federal laws against workplace discrimination are followed. Their main job is to guarantee that everyone is treated fairly. They aim to shield them from discrimination based on any of the following:
- Age
- Race
- Color
- Gender
- Religion,
- Place of origin
- Others
The EEOC is very dedicated to being fair and ensuring everyone is treated equally. To do this, it splits its efforts into three ways: providing education, prevention, and investigating complaints of discrimination. Its ultimate goal is to create a job market where every individual can participate and thrive, free from the burden of unjust bias or prejudice.
Based on recent behavior, companies can expect the EEOC to proactively address discrimination in the following year. Here, Chicago-based company, Launchways provides insights into the EEOC’s anticipated influence through 2024.
The EEOC’s Mission Intensifies
During fiscal year 2024, which started on October 1, the EEOC is set to intensify its efforts. This predicted increase in activity is partly due to a significant budget increase of 6%, amounting to an additional $26 million in funding. This financial boost underscores the government’s commitment to protecting workers’ rights.
Another factor is that the EEOC is now under the control of the Democratic party. After a year-long tie, the senate approved democrat Kalpana Kotagal to the five-chair committee. The democrat-rich EEOC is more likely to aggressively pursue all kinds of unfair treatment at work.
The EEOC’s plans include taking legal action against discrimination and identifying new forms of bias. In the year that ended on September 30, 2023, the EEOC filed 143 lawsuits. Some of these were about widespread discrimination. For example, one well-known case accused Tesla of worker discrimination at their factory in California.
What’s more, the EEOC is very determined to deal with new challenges in the workplace. For example, EEOC recently solved its first case involving AI bias. An international tutoring company, iTutorGroup, was using artificial intelligence to hire employees. They were required to pay $365,000 because the AI was picking candidates unfairly.
As the commission becomes more determined, employers should stay watchful. They should make sure to maintain a workplace that is fair, free from discrimination, and open to all employees.
What Can Employers Do?
Employers must take proactive steps to ensure compliance with anti-discrimination laws. Here are some key actions that businesses can take to promote fairness and prepare for the expected surge in EEOC lawsuits in 2024:
- Review and Update Policies: Employers need to carefully check their workplace rules. Look for regulations regarding discrimination, harassment, and equal chances. Making sure these rules cover everything, stay current, and are well explained to employees is really important.
- Provide Training: Teach employees and managers about anti-discrimination laws and rules. Regular training can make people aware and show them how to deal with discrimination at work.
- Set Up Reporting Systems: Make clear and private ways for employees to report discrimination. This is crucial for stopping issues before they get worse.
- Investigate Quickly: When there are complaints about discrimination, employers should immediately investigate. This not only solves problems but also shows that they are serious about fixing discrimination.
- Encourage Diversity and Inclusion: Building a diverse and inclusive workplace isn’t just a legal rule; it’s also the right thing to do. Employers can take steps to bring in more diversity at all levels of the company, making a place where all employees feel respected and valued.
What Is the Takeaway?
As we look ahead to 2024, it’s evident that the EEOC’s role in combating workplace discrimination will continue to be prominent. Employers should understand the changing rules and the EEOC’s dedication to strategically enforcing them.
The main idea for businesses is that being proactive is the best way to protect against possible EEOC lawsuits.
Employers can create a workplace that follows the law and treats all employees fairly by taking these steps:
- Checking and improving company policies
- Offering training
- Setting up reliable reporting systems
- Promptly investigating issues
- Promoting diversity and inclusivity
In the end, protecting workers’ rights and preventing discrimination benefits both employees and employers. With the right actions in place, businesses can navigate the evolving workplace rules and help build a more just and inclusive future.
by Jim Taylor | Oct 3, 2023 | Company Culture, Employee Retention, Future of Work, Human Resources
The pendulum continues to swing. Going “back to normal” is a status many businesses long for even as they struggle to manage the “new normal.” With many workers insisting on the freedom they experienced working remotely, and employers calling for a return to their cultivated work culture, there is bound to be tension.
So, “Who’s in control of employer/employee relations?”
Employer/employee relations form the foundation of our modern workforce. By examining the current trends, we can gain insight into the evolving dynamics of employer/employee relations.
Remote Work and Flexible Arrangements
In recent decades, many trends have altered the employment landscape. Non-traditional work arrangements, such as freelance and contract work, have blurred the lines between traditional employer and employee roles. This results in new challenges in determining control and responsibility.
Remote work often requires a shift in management strategies, with a greater emphasis on results and performance. However, this shift means that employees may feel the need to be constantly connected to work. This sometimes blurs the line between their personal and professional life.
While workers have more control over their work environments and schedules, employers may fear that this lack of oversight could result in less productivity. The challenge is finding a balance. The desired solution would allow employees the flexibility they desire while ensuring employers can maintain control over work outcomes.
Mental Health Matters
Additionally, mental health has emerged as a prominent issue. More people are reporting feelings of depression and anxiety. Rates of drug abuse, addiction, and suicide have been steadily increasing. Although many are becoming more aware of mental illnesses, work-related stress, and burnout, businesses continue to find practical solutions to be a challenge.
Employers recognize that overly strict regulation can lead to feelings of employee dissatisfaction. That results in high turnover rates. In fact, the Great Resignation and quiet quitting trends have been linked to the level of support an employer offers its workers.
Workers prioritize their mental well-being and the quality of the work culture as they seek opportunities. Therefore, wellness and mental health have become important recruitment strategies for businesses.
Major health events, including mental health ones, change everything in a person’s life. As employers and HR advisors, we need to take the health of our workers seriously.
Balancing Employer and Employee Interests
With the increased attention that employee needs are getting, more employers are aware than ever before. Unfortunately, inflation has made wage increases difficult. Plus, more inclusive benefit options are increasingly expected to attract new talent. It has become challenging for many employers to keep up.
Employers are vested in ensuring their businesses’ productivity and profitability. This often involves making decisions that affect employee workloads, compensation, and job security. In contrast, employees seek job satisfaction, fair compensation, and security.
Employers often feel torn between wanting to support their employees and wishing to avoid price increases. This is clear in the healthcare benefits landscape. Balancing these sometimes conflicting interests is essential for a healthy workplace.
Where Do We Go From Here?
Although the pandemic redefined work dynamics, there’s a real sense of cooperation and negotiation. It’s in the best interests of both employers and employees to work for a mutually beneficial arrangement.
Employers can engage in open dialogue with their workforce. They can seek feedback and involve employees in decision-making processes that affect them. This inclusive approach can enhance employee satisfaction and reduce feelings of powerlessness.
When employees feel included in the process, they are more likely to cooperate. They may support initiatives that may initially appear restrictive.
As businesses weigh their needs with those of their employees, it becomes increasingly apparent. This support is required to attract and secure top talent in a competitive environment.
Over the coming weeks, we’ll be delving into a few innovative solutions for improving employer/employee relations. We’ll discuss measuring employee engagement as well as creative recruitment strategies.
Overall, the employer/employee relationship is in a decent place, with neither in the position to make many demands. That is a pretty good way to start.
by Devon Bellamy | Sep 25, 2023 | Compliance, Employee Benefits, Human Resources
The Retirement Savings Crisis
The Securing a Strong Retirement Act, also known as SECURE Act 2.0, was signed into place in December 2022. This law introduced new rules and requirements for retirement plans, all aimed at helping Americans save more money for their retirement. This comes as good news for working Americans who worry that they won’t have enough money when they retire.
A 2021 report from the National Institute for Retirement Security highlighted how a lot of U.S. workers are concerned about their retirement savings. It showed that most people believe there’s a real crisis, and many fear they will have to work beyond the age of retirement just to survive. For them, the new rules from SECURE Act 2.0 could be considered a lifesaver.
Unfortunately, however, they are causing real challenges for organizations. Those who rely on manual processes to make sure they remain compliant may find them especially challenging.
The new regulations will be enforced starting on December 31, 2024. That means organizations need to get ready pretty quickly.
Understanding SECURE Act 2.0
To better understand these new rules and what organizations need to do to prepare, let’s take a closer look at the details.
- Section 101: Automatic enrollment is required for all new 401(k) and 403(b) plans implemented after December 29, 2022. Additionally, enrollment must be set between 3% and 10% of the employee’s pay and increased by 1% each year until it reaches 10% to 15%.
- Section 125: Reduced eligibility requirements for 401(k) plans make it easier for part-time workers to join 401(k) plans. Instead of three years, employees must have worked at least two consecutive years, with at least 500 hours of work each.
- Section 603: Catch-up contributions are available for individuals 50 years or older, who earned over $145,000 last year. It allows them to classify catch-up contributions as Roth contributions. This offers significant tax benefits.
Unfortunately, these changes make it more complicated for companies needing to update their systems to handle these new rules.
Overcoming Implementation Challenges
Following these new rules can be really hard for smaller organizations because they have to do a lot of things manually. Unfortunately, the manual approach makes it more likely that human error in the process will go unnoticed until it’s too late. The potential consequence of this oversight can be extreme. Your company could face fines for even one tracking error.
Therefore, it’s vital to begin preparing for compliance immediately if you are affected by SECURE Act 2.0’s Section 125 and/or Section 603.
Does your company have the necessary technology in place to face this and the other challenges it faces?
Technology Solutions for Compliance
To ensure compliance, companies require the right technology. They need to be able to transfer a lot of data between their systems and the retirement plan providers’ systems. This includes payroll details and other sensitive personal identifiable information (PII).
Companies can choose from various methods including:
- Manual Data Entry
- SFTP
- Custom Integrations
- Unified employment APIs
Each has its benefits. The more automated the system is, the more accurate it is. The simpler and less expensive the method is, the more likely it is to result in costly mistakes.
Getting help from professional retirement advisors can help you assess your options and make the right choice for your company.
The Role of Retirement Advisors
Ideally, you should be planning and securing the support and tools you’ll need for 2.0 now. To ensure your company’s retirement landscape remains compliant, consider seeking the assistance of a professional retirement advisor. Advisors can:
- Inform you of important deadlines and keep you on track.
- Help you choose the right retirement plans.
- Explain what your company needs to do to follow the rules.
- Ensure compliance and safeguard you from legal consequences.
- Recommend tools to make sure the company is ready for the changes.
The right retirement advisor can be a valuable asset for companies wishing to identify and avoid potential pitfalls before SECURE Act 2.0 goes into effect.
A Final Note
With a looming retirement crisis, the need for change is apparent. SECURE Act 2.0 aims to provide opportunities for US workers to save for a secure retirement. Unfortunately, the manual processes used by many organizations present an increased risk of errors that could result in non-compliance.
Therefore, it is essential for plan providers and employers to begin enlisting support and implementing the correct technology to automate their systems. With the right resources, you should be able to seamlessly integrate your systems, reduce errors, and ensure compliance with SECURE Act 2.0–effectively and on time.
