The Source: Weekly Roundup – May 13th, 2019

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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 cover the new generation of benefits advisers, new stats about HSAs, leave programs for working moms, benefits that help attract top talent and much more! Click To Tweet

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Employee Benefits That Help Attract and Retain Top Talent

The ante is officially upped in terms of incentives to attract and retain top employees, especially at larger organizations – 63% of people said benefits are among their top considerations before accepting a job. What are some of the most popular benefits companies are using to set themselves apart from the competition for talent? Flexible paid leave policies, extended parental leave, prioritizing work-life balance and wellness programs are just a few examples. Get the full scoop from CEO Magazine.

The Incredible Ways Artificial Intelligence Is Now Used In Mental Health

We’re experiencing a mental health crisis. Approximately 15.5% of the global population is affected by mental illnesses, and those numbers are rising.

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Although there are many who require treatment, more than 50% of mental illnesses remain untreated. In the United States, one in five adults suffers from some form of mental illness. Learn how AI is helping physicians screen, diagnose and treat mental illness in this Forbes review.

Benefits Advisers Are Evolving

The next generation of benefits advisers have little interest in traditional brokering – instead, they want to be benefits consultants – professionals who audit benefit programs to help employers save money. Instead of working on commission the way traditional brokers do, they generally charge a one-time fee and receive a percentage of whatever savings they bring to the employer. Read more about the new generation of benefits advisers on EBA.

Seven Pay Equity Questions Every HR Professional Should Ask

Achieving true pay equity is high on many HR teams’ priority lists this year, but it can be hard to find a good place to start.

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It’s important to assess risk and evaluate the company’s commitment to pay equity; companies not analyzing pay equity often enough are incurring unnecessary risk – and doing so at a time when organizations are under increasing pressure to demonstrate their commitment to pay equity. Check out these seven questions to ask that will help get your organization started down the right path from HR Daily Advisor.

HSAs Falling Short on Two Key Selling Points

A new survey shows that health savings accounts are not helping consumers save money, and are not causing patients to participate in more cost-comparison shopping – two of their main selling points. Instead of making health insurance more affordable, in most cases they have simply shifted more costs onto employees. Lack of price transparency and plan clarity continues to be a barrier to comparison-shopping among consumers. Get a full summary of the survey results on BenefitsPro.

Designing Better Leave Programs for Working Moms

Mother’s Day is the perfect time to take a deeper dive into improving working conditions for working mothers.

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In addition to their work responsibilities, working moms take on more of the intellectual, mental and emotional work of childcare and household maintenance, making a healthy balance of professional and personal responsibilities highly difficult. Designing a leave program to specifically help balance this for employees can have huge benefits. Read more from EBA.

This Week at PlanSource | 2019 Benefits Benchmark Report

We’re thrilled to announce the release of the first annual PlanSource Benefits Benchmark Report, combining insights drawn from the 92 million benefit elections made on the PlanSource system. Data is powerful, and it’s one of the best tools for backing up benefits strategy decisions.  This free report showcases this year’s top trends for employee benefits enrollment, benefit types offered, contribution amounts and more.

 

Download the Report

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Thought Of The Week

63% of people said that benefits are among their top considerations before accepting a job, and nearly 4 in 5 employees preferred new or additional perks to a pay rise. – Glassdoor, 2018

What are some new benefits your company is trying to attract and retain top talent? 

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