Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. Start off your week on a high note with The Source!In this week's edition, we discuss how top-tier employers are managing their benefits, common misconceptions about the gender pay gap, a new study about Generation X and more! Click To Tweet
Overlooked and Under-Engaged: Generation X
Generation X – a group now reaching the ages of 38 to 53, is right in between the wave of baby boomers set to retire and the influx of millennials now maturing in their career. According to MetLife’s 17th Annual U.S. Employee Benefit Trends Study, Gen X employees have been long overlooked by organizations. They feel significantly under-appreciated at work and lag behind boomers and millennials in financial security. Learn what steps employers can take to right the course from MetLife.
Celebrate National Employee Benefits Day… All Week Long!
We are proud to work in an industry that helps connect employees with important benefits when they need it most, which is why we celebrated National Employee Benefits Day on Tuesday, April 2.
Equal Pay Day 2019 – Womansplaining the Pay Gap
Equal Pay Day this year was also celebrated on Tuesday, April 2. Created in 1996 by the National Committee on Pay Equity, the day is marked to draw attention to gender pay disparities in the United States. There are quite a bit of studies, statistics, myths and strong opinions surrounding the wage gap, and it requires a nuanced approach to fully understand. The New York Times breaks down the phenomenon by the numbers and explains common misconceptions about the phenomenon as well as how race factors into the equation. Read the full report.
Compensation Remains the Biggest Driver in Employee Turnover
In a new CNBC/SurveyMonkey poll, most employees said they’re somewhat or very satisfied with their jobs, but more than 40% of those surveyed thought a higher salary would improve their work satisfaction.
Workers say they would swap a pay increase for more meaningful work or a more understanding boss, but money remains the ultimate motivator for most people. Women are less happy with their pay than men. Get the full scoop from HR Dive.
How Do Top-Tier Employers Manage Their Benefits?
Gallagher’s Best-in-Class Benchmarking Analysis found similarities in employee benefits management across both midsize and large employers. They’re more likely to offer either one or two medical plan options, self-insure their benefits, and are “intensely” focused on employee well-being. Through a variety of tactics, they’ve successfully lowered pharmaceutical costs and overall health care costs, and 70 percent feel their employees are satisfied with the benefits they offer. Read a full summary of the report from BenefitsPro.
This Week in Benefits and HR Events
It was a big week for conferences in the benefits and HR industry, and with the landscape being anything but stagnant, there was a lot to discuss and debate.
3,500+ HR professionals traveled to Las Vegas for Ultimate Software’s Connections conference, featuring keynotes from NBA legends Magic Johnson and Larry Bird.
Benefits brokers, advisors, and consultants gathered in Miami, FL for the BenefitsPro Broker Expo ready to discuss hot topics like Medicare for All, Amazon breaking into the health care space, and more.
Space is filling up fast for Eclipse, PlanSource’s annual benefits and HR conference that brings together the broker, HR, carrier, and technology audiences for an exclusive and intimate experience in the gorgeous mountainous region of Park City, Utah. Register now!
This Week in PlanSource | The Long Arm of the Law: How Changes in Employment Law Will Affect Your Business
Employment law is not the most exciting or approachable topic, but it’s definitely high on the list of things HR teams need to be well-versed in and familiar with (on top of everything else!) Before you go read the entire Wikipedia page for labor law history in the United States, try this webinar first.
Thought Of The Week
The median salary for men is still roughly 21 percent higher than the median salary for women. Payscale, 2019
What is your organization doing to improve pay equity for all employees?