Benepass’ Post

🚨 Lifestyle Spending Account webinar at the end of the month 🚨 What's better than 1 webinar in July? 2 webinars in July! Mark your calendars for 7/31 at 2 pm-2:30 pm ET We're hosting a webinar on July 31st in conjunction with Shortlister exclusively for benefit leaders and consultants to cover how to set up effective Lifestyle Spending Accounts. We'll also dig into the trends and insights we're seeing in the market. We will get into: ✅ What is a Lifestyle Spending Account? ✅ Benchmarking how different plan designs impact the employer's budget ✅ The difference between budget utilization and engagement ✅ Why employees LOVE their Lifestyle Spending Accounts Sign up at the link in the comments! #Webinar #LifestyleSpendingAccount #Benefits #EmployeeExperience #Benchmarking

🚨 Pre-tax webinar next week 🚨 Mark your calendars, and attend for a free Yeti! We're hosting a webinar on July 23rd exclusively for benefit leaders and consultants on our pre-tax product experience. You'll get the opportunity to dive into: ✅ An introduction to Benepass ✅ The pre-tax market landscape and common pitfalls that we see ✅ A product demo covering both the employee and administrative experience There will be time for questions. Sign up at the link in the comments! #Pretax #EmployeeBenefits #Webinar #EmployeeExperience

Fringe benefits have been around for a long time. 🕰️ The concept of fringe benefits developed during the Second World War due to government-imposed wage controls at the time. Forced to cut back on employee hours and pay, employers sought alternative ways to attract and retain workers by offering benefits like paid leave and health coverage. In today’s work landscape, fringe benefits now include remote work options, wellness programs, and tuition reimbursement, reflecting the changing priorities and lifestyles of the modern employee. Our blog digs into 26 types of fringe benefits, how they work, and the advantages of offering these benefits to your employees. Read up here: https://hubs.li/Q02FV4K90 #FringeBenefits #EmployeeBenefits #EmployeeExperience #CompanyCulture

Lifestyle spending accounts are rising in popularity as more companies catch on to the fact that top talent flocks to organizations that prioritize employee well-being. But as great as these accounts are, they’re still somewhat of the new kid on the block. If you’re a benefits leader trying to implement an LSA, you'll probably be asked about the ROI and advantages of investing in this employee benefit. 📈 Our latest blog dives into the hard and soft ROI of lifestyle spending accounts, complete with calculators you can use to understand your company's unique ROI. Read the full blog here to start making a case for investing in an LSA: https://hubs.li/Q02FhBff0 #LifestyleSpendingAccounts #ROI #EmployeeBenefits #EmployeeExperience

So you're considering offering commuter benefits to your employees—the next question is, do you offer a pre-tax or post-tax program? 🤔 Pre-tax commuter benefits allow employees to allocate pre-tax dollars for commuting costs. For 2024, the limit is $315 per month for commuter highway vehicle transportation and transit passes and a separate $315 per month for qualified parking. Pre-tax benefits are beneficial because they allow both employees and employers to save on payroll taxes. Post-tax benefits, on the other hand, offer a bit more flexibility. Although you'll forgo the tax savings, offering post-tax commuter benefits to your employees allows you to cover a wider range of commuting expenses, including gas, tolls, car insurance, ridesharing services, biking, and more. Our blog digs into the pros and cons of each approach so you can make an informed decision. Read it here: https://hubs.li/Q02F9CK20 #CommuterBenefits #RTO #PretaxBenefits #EmployeeBenefits

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Curious about all the types of employee stipends available to your organization? 🤔 We often hear from HR and benefits leaders who are interested in expanding their stipend offerings but are overwhelmed by all the options. We wrote a new comprehensive guide to take the guesswork out of the equation and help you design competitive, compliant stipend programs that engage your employees. The guide provides: - An overview of employee stipends and their taxability - The benefits of offering employee stipends - A list of stipend ideas to inspire you - Taxability status of individual types of stipends - Common eligible spending criteria - Tips and best practices for designing your stipend - 6 steps to launching an employee stipend program Download the guide today to get started on building competitive stipend programs! Get the link in the comments. 👇 #Stipends #EmployeeBenefits #EmployeeExperience #EmployeeEngagement

Gallup research reveals that employee engagement is an ongoing problem that companies want and need to fix. In 2023, only 23% of employees were engaged and thriving at work. So what can you do to improve engagement at your organization? Here are 6 strategies to try: 1. Keep a pulse on employee sentiment: Start with some basic benchmarking. Use employee engagement surveys, exit and stay interviews, and skip-level meetings to get a sense of employee sentiment. 2. Recognize your employees' contributions: 81.9% of employees confirm that recognition impacts their engagement. Recognition programs, regular shoutouts, and employee awards can help boost engagement. 3. Address employee feedback: Engagement improves when employees feel like they are heard and listened to. Give employees a voice by performing regular surveys, approach these insights with curiosity, and act on the results. 4. Build a community your employees never want to leave: Create a sense of community within your organization. Team-building activities, employee resource groups, and mentorship programs are a few examples of initiatives that strengthen community and drive higher engagement. 5. Empower your employees with autonomy: There’s nothing worse than feeling micromanaged as an employee, so it’s critical to train managers to give employees more autonomy wherever they’re based. 6. Create an inclusive engagement strategy: An inclusive community prioritizes fairness across the entire company. Ensure all employees are treated equitably regardless of their role and implement policies and practices that promote fairness within and across teams. Read our full blog on driving employee engagement at the link in the comments. 👇 #EmployeeEngagement #Benefits #EmployeeExperience