The number of Americans owing money for sizable student loans has soared to 45 million — a 116 percent increase over the last decade.1 For employers hiring newly minted college graduates burdened with loan debt, this is an opportunity to attract and retain the best employees with benefits that help reduce college loan repayment.
In just the past few years, data analytics have become an essential tool for savvy benefits managers who want to follow how employees are using their benefits. Armed with real-time data insights, managers can use this information to help reveal coverage gaps.
There’s no doubt the coronavirus pandemic has accelerated the transformation of digital technology across nearly every industry. For corporate benefits managers, digital transformation initiatives have made it possible to efficiently conduct virtual benefits fairs and provide decision support tools designed to educate and help employees opt for the most cost-effective benefits.
Last year, many companies shifted to allow employees to work from home amid the pandemic. But employers are noticing that shift has also led to an increase in mental health challenges — as emotional and financial stress continue to take a toll on employees with COVID-19 stretching into 2021.
A new year has arrived! Many are hoping 2021 will be better, but challenges remain. For example, it’s likely employee financial stress will continue to be evident in the wake of COVID-19. The good news is, companies are noticing their employees are feeling financially stressed — and taking action.
Everyone can agree, 2020 has been a wild ride. Benefits professionals at every company have contended with the rippling effects of COVID-19. And at the same time, COVID’s impact has changed every business's trajectory over the past 12 months. In case you missed this year’s most popular Snapshots, here’s a recap of the top three topics of 2020.
With the emergence of COVID-19, more companies are adding voluntary benefits, specifically critical illness coverage. But even prior to the pandemic, benefits options were steadily expanding.
Benefits analytics platforms and technologies continue to be important decision-making tools both employees and benefits managers find essential. In fact, 41 percent of benefits professionals said they rely on data analytics tools to determine the efficiency of their existing plans.
If there’s one thing benefits leaders have learned over the last six months, it’s that more employees than ever are seeking virtual or telehealth services. SHRM reported that beginning in April, telehealth experienced explosive growth as employees began living under stay-at-home orders.