Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlight 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 top takeaways from this year’s Benefits Forum, big news concerning the CVS/Aetna merger, how one company is remaining competitive through maternity leave perks and much more!
Time To Kill Annual Performance Reviews — And 14 Other Takeaways From The Benefits Forum & Expo
Did you miss this year’s Benefits Forum? Well, fret not – Employee Benefit News is here to fill you in on the top takeaways from this year’s event. Student loan debt benefits, performance reviews, financial wellness programs, telemedicine, retirement plans, paid leave policies and mental health were all topics of discussion. Check out the full event recap for details.
CVS, Aetna Win U.S. Approval For $69 Billion Deal
After much contention, the U.S. finally approved a massive merger between pharmacy chain CVS and health insurer Aetna. The end goal of the merger is to cut health care costs across the nation for consumers, though some have doubts about the feasibility of this plan. The companies have expressed that they will save on administrative and patient care costs through strategies like opening and promoting convenient walk-in clinics. CVS boldly plans to save $750 million annually by the end of the second year after the deal is settled. Read more about the merger and what this could mean for consumers in this Reuters recap.
Phased Maternity Leave Enhances Parental Benefits
As the job market tightens and unemployment falls, organizations are turning to unique employee benefits to remain competitive and stand out from the crowd.
Noodles & Company, a fast-casual pasta restaurant, is the latest employer to increase their maternity leave policy with six weeks of paid leave for mothers, two weeks of paid bonding time for fathers and non-birth parents, and an innovative new way for mothers to ‘phase in’ and ‘phase out’ of maternity leave with lighter, more flexible schedules prior to and after birth. Learn more on the new policy and why parental perks are on the rise in this SHRM recap.
How Wearables are Revolutionizing Workplace Safety
Wearable technology is making the workplace safer. Although many might think of pedometers used to track exercise goals, wearables can do a lot more than count footsteps. They can monitor the wearer’s health status and send out alerts when anything goes wrong. They can even help prevent risks while maximizing work efficiency. Wearable devices can be especially helpful in trucking, construction and industries with a high level of physical exertion and risk. Learn how you can use wearables to improve your safety initiatives in this Heffernan Insurance review.
Have You Considered Using Videos to Educate Employees About Benefits?
If not, you should! According to a recent EBRI study, only 52% of employees claim to understand their health benefits. And, only 39% report that their employer provides education or advice on how their health insurance works. There is clearly a gap between the programs and perks being offered and the level of understanding about these perks. So, what’s the answer? Enter video.
See how you can incorporate video into you employee benefits education strategy with this outline from TLNT.com.
How to Develop a Data-Savvy HR Department
To create an analytical culture in your organization, you need to nurture the right mindset among your employees. And that starts with creating a culture of analytics in your HR department. How can senior leaders help HR develop a culture in which people think analytically? First, you need to understand the different levels of comfort with analytics in HR, and then you need to decide your approach to hiring and building expertise at each of the different levels. Learn how to get started in this Harvard Business Review report.
This Week at PlanSource: Employee Engagement Webinar
You have a secret power during benefits enrollment: your employees’ attention. So why not use that power for good? Join Nancy Sansom from PlanSource and Bob Armour from Jellyvision as they share seven practical tips you can immediately put into place to take advantage of your employees’ attention.