Employer Strategies

With the hefty price tag organizations pay for employee benefits, effectively communicating those offerings to get the highest return on investment is critical - particularly in the current economic environment. To this end, having a vision to engage and motivate workers is one thing. Turning that vision into a successful campaign is quite another.

The group legal plan is growing. More employers are slashing budgets, which often equals cutting benefits. No more 401(k) matching, a high-deductible health plan becomes the only option, and money gets tight and employees see it and feel it.

An entrepreneur has launched a new employee benefits service promising companies access to a network of certified public accountants who will offer prepaid tax preparation and year-round tax advice to their employees.

As open enrollment season approaches, employees likely will see that they have more voluntary benefit options than in previous years, a survey by Colonial Life concludes. The insurer's poll of more than 750 HR managers and benefits administrators found that almost half (49%) expect to add voluntary benefits to their plans within the next year. Employers were asked about their employee benefits packages and benefits communication efforts.

When acquiring a spin-off - buying a subsidiary that will be standing on its own or integrated into the acquirer's other businesses - benefits are key to a deal's success and minimizing employee disruption. Successfully transitioning employee benefits in spin-offs presents unique challenges.

Reflecting uncertain economic conditions and a conservative cost-management environment, U.S. employers are projecting moderate pay raises for employees in 2012. Employers expect to fully fund their annual bonuses for workers this year, as corporate profits have increased, according to a new survey of 773 employers conducted by Towers Watson.

Insurers have yet another cloud option available to them, as Informatica announced several new insurance clients using their services. Although not a new offering (the company launched cloud services in 2006), it's relatively new coming from an insurance industry known as technologically risk averse. According to a recent Gartner Group study, annual spending on cloud-related transactions may grow to almost $150 billion worldwide by 2014.

Although the name Dave Thomas likely is most closely associated with the smiling red-haired girl in pigtails who serves as the icon for his chain of Wendy's restaurants and the burgers and Frosties the outlets serve, the restauranteur also was a passionate advocate for adoption. Himself an adoptee at age 5, Thomas spent most of his adult life championing adoption and making inroads with employers to provide adoption benefits.

Corporate America does lend itself to a workday that includes 90-minute intervals of intense work and then periods of deep recharging. It’s certainly not the image conjured; it’s the dedicated employee who works late, comes in early and eats lunch at his/her desk.

Employers looking to attract engage and retain Generation Y workers need to do their homework to see what makes this demographic group tick — their preferences and communication styles, especially when it comes to benefits.