Due to the coronavirus (COVID-19) pandemic affecting workplaces, many employers are adopting remote and virtual practices—including interviewing. While the process of virtual interviewing is an appropriate action for many employers in wake of the COVID-19 pandemic, it will remain a consideration for an increasing number of employers even post-coronavirus. Virtually interviewing and hiring a new employee can be a daunting process, as it comes with its own unique set of challenges, but it offers benefits to both employers and job seekers. As employers adapt to stronger technology capabilities than ever before, virtual interviewing offers an opportunity for employers to become more adaptable, while staying up to date with growing trends. Many job seekers frequently use job websites such as LinkedIn, Indeed and Handshake, and the expanded use of technology is challenging recruiting and hiring norms—leading to virtual interviews becoming a strong consideration for employers. In addition, v...

Poor hiring decisions can be extremely costly for your company, in terms of business interruption, wasted recruiting and training resources, lower employee morale and more. You may realize that an individual is not a good fit, or a new employee may choose to leave if the job doesn’t match his or her expectations. In both circumstances, many of these separations are due to the fact that the hired individuals did not fit the company culture and therefore lacked productivity, creativity and/or morale.  Culture is the unifying element that holds everyone in an organization together. Unlike an established mission statement, culture encompasses the written and unwritten behavioral norms and expectations of those within the company. Culture can set one company apart from others, and it can include the value of work-life balance issues, the way the company is organized, the extent to which leaders follow through on mission statements and many other factors.  Companies looking to hire ...

Each quarter, the Attraction and Retention newsletter offers statistics about the employment market, suggestions on securing top talent and insight to attract and retain workers. This edition looks at: 3 Pandemic-influenced Recruiting Trends to Watch in 2022 The Case for Considering “Boomerang” Employees 3 Tips for Strengthening the Virtual Recruiting Experience Download your copy today . For more information about  employee benefits, our services and products , please contact HANYS Benefit Services by  email  or by calling (518) 431-7735. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2022 Zywave, Inc. All rights reserved.

This month's Benefits Breakdown explores strategies for reducing benefits costs in 2022 and discusses why employers should consider offering mental health benefits. 3 Strategies for Reducing Benefits Costs in 2022 Health care costs continue to rise each year, and 2022 will be no exception. In the new year, experts predict a 6.5% increase in medical costs alone, according to PricewaterhouseCoopers. Employers are also anticipating health plan premiums to rise more than 5% in 2022, a Willis Towers Watson survey reports. With these increases in mind, employers will want to strategize methods to rein in benefits spending. This article offers three ways to help.  1. Consider Alternative Plan Modeling Instead of raising premiums, which may push employees away, employers can think about offering alternative health plan models. These include consumer driven health plans and various self-funded plan models. At their core, alternative plan models give more control to employees and employers a...

Recruiting and retaining top talent is a challenge for many organizations. Successful recruiting campaigns include a variety of techniques and careful positioning. However, despite its challenges, recruiting top talent is crucial for both short- and long-term organizational success. Use these resources below to bolster your recruiting efforts and solicit the best possible candidates for your organization. The best people are looking at much more than job postings. Things like company values, internal policies and company culture are all factors for potential applicants. This information can help strengthen your organization’s messaging so you may attract the best talent.  Recruiting and Retaining Talented Employees Today's workers are not committed to companies the way they once were. This article provides suggestions on how to hire qualified employees—and how to keep them. Recruiting Post-coronavirus Like most aspects of the workplace, recruiting norms have changed as organizatio...

The first step to understanding your retirement benefits is to understand your employer’s plan. There are two major types: defined benefit and defined contribution. A defined benefit plan promises a specified payment amount at retirement. This may be stated as an exact dollar amount or may be calculated through a formula that includes factors such as your salary, age and time with the company. In a defined contribution plan, you and/or your employer contribute to an account. Your contributions are invested and the value of your account upon retirement depends on the amount contributed and how your investments perform.   DEFINED BENEFIT PLAN DEFINED CONTRIBUTION PLAN Employer Contributions and/or Matching Contributions   Employer funded. Federal rules set amounts that employers must contribute to plans. There are penalties for failing to meet these requirements.   For most plans, there is no requirement that the employer c...

Many individuals need help making sense of their options when receiving health services. In fact, a recent study from Quantum Health found that 8 out of 10 people said they faced challenges when receiving care. The study also noted that these challenges were worsened by benefits complexity. In other words, confusion toward health benefits can take a toll on employees in the workplace. According to Quantum Health’s findings, the vast majority of consumers have reported facing hurdles while receiving care during the past two years. These challenges include issues understanding coverage levels, locating providers and navigating the insurance claims process. Issues like these were compounded for individuals with chronic conditions—90% of whom said they faced additional challenges, such as making sense of diagnoses or test results. Here are other main findings from the study: Of the majority who experienced health care challenges, 57% of these consumers said they suffered negative impacts f...