The annual open enrollment period is one of the busiest times in your HR calendar. Everyone involved will have to handle queries, process requests—and firefight the occasional crisis.
Reviewing your employee benefits can be an arduous process. You’ll spend time working with your broker to explore the market, find the best options, and agree on a reasonable employee/employer premium split.
Benefits | Best Practices | Employee Relations
Should you be reading this, chances are your organization has recently gone through the process of Open Enrollment for employee benefits.
Health benefits are one of the most sensitive parts of the employer-employee relationship. A great health plan gives people a sense of safety, and often includes their closest loved ones. Whenever there’s a major change, employees’ first thoughts are often, “What will happen to my health benefits?” Health-related benefits are expensive to provide—and they’re only getting more expensive. Leaders often find themselves in a difficult situation, trying to manage costs while also protecting a positive employee experience. A recent report by Aon identified “managing healthcare costs” as the top priority for employers in 2024. It’s easy to see why, as costs are expected to increase by 6.5% this year.
One clear trend in employee benefits has been a collective focus on a healthier work-life balance. With that comes fertility and family planning benefits. According to the International Foundation of Employee Benefit Plans, family planning benefits are gaining recognition among the benefits employees ask for.
The Great Resignation of 2021 was something of a wake-up call for many employers. Leaders began to appreciate that even the most settled team members could walk out in an instant—and replacements aren't easy to find in a viciously competitive recruitment market.
