A recent study by the Consumer Federation of America (CFA) spotlights the value of employer sponsored disability coverage in helping meet the health and financial well-being of workers.
According the Social Security Administration, one in every four employees will use their disability coverage at some point.
Despite this need, the nationwide survey found that fewer than two in five workers (39%) in the private sector have short-term disability (STD) coverage through their employers and only one in three (33%) have employer sponsored long term disability coverage (LTD).
Studies by the U.S. Bureau of Labor Statistics and Mathew Greenwald & Associates have found similar rates of participation in these programs.
CFA Executive Director Stephen Broback says, “Surveys have shown that disability insurance is a critically important part of the social safety net”. . . “that plays an essential role in protecting the emotional and financial lives of workers.” Based on the study’s findings, he urged “all employers to offer the option of obtaining disability coverage.”
The survey also found that when businesses don’t offer LTD, many workers would buy it for themselves if they could receive the lower group rates available through employer sponsored coverage. Most disability plans cost workers between $10 and $30 per month, and the average monthly premium for STD coverage comes to $18.
More and more employees are benefiting from these plans, an estimated 650,000 disabled workers received employer sponsored LTD payments last year.
If you’d like to offer your employees this valuable “peace of mind” benefit, or for a complimentary review of your disability plan,– feel free to get in touch with us at any time. It’s our pleasure to serve you.
3 years ago ·
by Shawna Kreis ·
Comments Off on Employee Advocacy: How to target and recruit the right employees
Employees are more than just a warm body in your office. Being able to target and recruit the right ones not only makes your life run more smoothly, they actively bring your company closer to the goals you have set for it. There are three top priorities you need to keep in mind when you need to find an employee to fit your next job vacancy.
1. Position Criteria
The first step to finding the right employee is to know exactly what skills and knowledge you want them to bring to your organization. You also need to determine if this criteria can be obtained with experience, schooling or both. Consider the culture of your company and those attributes that successful employees must have to fit in there.
2. Recruitment Methods
These days, in order to obtain a diverse pool of applicants, you will likely need to advertise utilizing a variety of methods. While newspaper ads have fallen out of favor somewhat due to the rise in popularity of the internet, consider posting your job opening in a variety of different media outlets to capture the attention of as many qualified job seekers as possible.
3. Make Your Job Posting Count
Your job posting is the critical bridge that helps you connect with the right applicants. Partly an advertisement for your business and partly a laundry list of attributes you want the perfect job applicant to possess, your job posting needs to include key information. This includes items such as the opportunities that are available for applicants, what you expect from the person who fills the job opening and a synopsis of your company’s goals.
3 years ago ·
by Shawna Kreis ·
Comments Off on Employee Advocacy: Key performance indicators to follow and set goals around
The employees you hire are the ones that you think will do their jobs to their best ability with the result being that your business reaps the benefits. Knowing how to determine that your employees’ actions are furthering your company’s success, though, is another matter completely. Use the following key performance indicators (KPIs) to set goals and assess actions.
Key performance indicators will likely vary depending on the individual business as well as the industry. For example, if you are in a service-oriented industry, you might have the goal of providing customers with service within a certain window of time while also completing the desired service to the customer’s satisfaction. Your KPIs would need to measure these factors to determine if they are being met.
KPIs have to be measurable both in quality and quantity. You have to be able to measure that which you want to manage. A good example is customer service, an aspect that exists in almost every industry and one that is important to nearly every business. Being able to quantify good customer service means that you have to be able to measure whether a customer is satisfied rather than their degrees of satisfaction.
There is no doubt that it is important for your employees to come to work each day. However, their attendance might not be correlated to their performance in the field when it comes to handling your customers or completing a repair in a timely manner that meets the customer’s expectations, for example.
Using KPIs as a way to fine-tune goals and focus strategies is the ideal method of ensuring that all your employees are performing those actions that are most likely to help you reach your goals.