Millennials—those born between 1980 and 2000—are projected to make up 50 percent of the work-force by 2020 and 75 percent by 2025. As more baby boomers retire, no longer are millennials the workers of the future; instead, they are the leaders of today.
A lot has been said about millennials, but one thing that most studies can agree upon is that millen-nials are more likely to job hop than their older co-workers.
“Onboarding” is a trending term in the world of HR, but not everyone knows what it is or how to do it. The goal of the onboarding process should be to cultivate a long-term relationship between the employer and the employee while fostering a feeling of belonging and an affirmation of making the right choice.
Every business is different, so there isn’t one right way to handle the onboarding process of new hires, but the tips in this toolkit can help you improve your process in a way that works best for your organization.
In recent years, the health insurance market has exploded with technology platforms designed to make the operations of group health plan administration a more streamlined process. Previously designed primarily for large employers, companies of all sizes can now reap the advantages of an online system.
Online systems offer a range of appealing features. Before committing to a system, take time to consider your company profile to determine the best solution for you.
A growing number of U.S. employers are making the switch to alternative funding as a way to reduce costs and improve benefits in their employee health plan. Regardless of company size, it’s never too early to explore alternative funding options.
But what does an alternative funding strategy entail? How does alternative funding differ from a fully-insured solution? What options are available to small and mid-size employers?
Once considered an option available only to very large companies, employers of all sizes are turning to alternative funding strategies to provide cost-effective health benefits to employees. Just about any company can implement some form of alternative funding.
There are a variety of options available, from pairing a high-deductible health plan with a Health Reimbursement Arrangement, to completely self-funding the benefits. Employers should carefully assess which of the many options will provide them with the greatest advantage.
Download our Alternative Funding Preparedness Assessment for a thorough analysis of the factors that should be considered before implementing an alternative funding strategy.
Drug and Alcohol Policies
Following the 2016 election, four states approved recreational marijuana measures – including California – and many others adopted initiatives to expand the use of medical marijuana. However, marijuana use, both for medical and recreational purposes, remains illegal on the federal level.
This evolving patchwork of regulations creates a challenge for employers to craft effective and compliant workplace drug and alcohol policies. California employers should be mindful of the balance between their ability to enforce a drug-free workplace with an employee’s right to privacy.
The U.S. Department of Labor (DOL) is tasked with enforcing group health plan compliance with ERISA and related federal regulations, including HIPAA, COBRA, and now the Affordable Care Act (ACA). While there is no way to eliminate a plan’s chances of being randomly selected for a DOL compliance audit, employers can be prepared.
A DOL audit is extensive and exhaustive. The process can take months and can easily exhaust an employer’s resources, which makes advance preparation essential.
The Employee Retirement Income Security Act of 1974 (ERISA) is federal law that regulates employer-sponsored health plans of all sizes. Sponsors of noncompliant plans run the risk of various civil – even criminal – penalties assessed by the DOL and IRS.
Employers can take steps to prevent the costly consequences of noncompliance. An ERISA gap assessment can serve as a sponsor’s first line of defense by identifying areas of weakness and addressing vulnerabilities