Praesignis’ Post

We are halfway through the 2024 plan year, and now is the perfect time to start preparing for open enrollment if you have a 1/1 renewal anniversary. For employers, gaining employee feedback before open enrollment shows a meaningful interest in their concerns, and can help identify gaps or opportunities to improve. Research has shown that employer benefits offerings are one of the top reasons employees join companies and stay at their jobs. Below are some things we consider when planning ahead during this busy time of year: * Our priority as a consultant is proactive communication with our customers that will help them prepare for the renewal season. Topics of discussion include education on new industry trends, solutions that can help control their healthcare spend, mental health and wellness resources, and additional voluntary benefits. * Employee benefit offerings are a powerful retention tool. Helping employees understand their current benefit offerings and promoting anything new that’s coming can help employees see the value in the benefits being offered. * Messaging and communication strategies are more important than ever, along with ample educational resources through multiple channels. With more employees working remotely, virtual enrollment may be the most feasible option for many employers, saving them time and resources. -Katie Mercurio #thewatkoway #openenrollment

Is it just my perception or has the buzz surrounding the 4-day work week died down in Australia? Is your employer considering a 4-day work week yet? 📌 Earlier this year, 4 Day Week Global published its report on the 6-month Australasia pilot program. Promising outcomes were observed for businesses, the environment as well as for employees' work-life balance and health & well-being. Access the report here: https://lnkd.in/ggaprNKc 📌 At the recent #AHRI session '4-day week — Is it really worth it?' we got some interesting insights from the MD (Jodie Perram) and COO (Amy Morgan) of Itch Recruitment Group, WA (a trial participant). I especially appreciated how honestly they spoke about the challenges and the negative attitudes they had to deal with. 📌 Following the encouraging 18-month trial in New Zealand, Unilever ANZ expanded its trial to Australia (set to conclude in November 2023). It uses the 100:80:100 principle, i.e., while retaining 100% of their salaries, staff work 80% of the time to achieve 100% business outcomes. (https://lnkd.in/g2z2_Mje)

The open enrollment season holds immense significance for a company's culture and the financial well-being of its employees. To ensure its success, leaders in benefits management must maintain consistent engagement and support throughout the entire year. This entails implementing strategies like initiating conversations with employees, utilizing data analysis effectively, ensuring considerate and timely communication, fostering engagement through educational initiatives, broadening the scope of benefit offerings, and integrating open enrollment seamlessly into year-round support. Ensure that you have a well-prepared game plan in place to nurture ongoing engagement and support throughout the year, starting with these six INDISPENSABLE STRATEGIES: #1: Foster meaningful dialogues with employees. #2: Gather comprehensive data and leverage it judiciously. #3: Maintain thoughtful and punctual communication regarding benefits. #4: Promote engagement through educational initiatives. #5: Expand the range of benefits available. #6: Forge a seamless connection between open enrollment and year-round support.

NEWS | We are over the moon to announce our second acquisition of the year, MyWorkMode! This innovative digital marketplace connects care providers with qualified care workers in their area, helping to resolve some of the recruitment challenges faced within the sector. This exciting new addition to our family will further bolster our digital division, working closely with Grey Matter Learning who already work with thousands of care providers every year. Our Group CEO, Jayne Worthington said: "The addition of MyWorkMode to our digital division comes at a time when we know there is a crisis within the care sector. With scaling costs, a lack of available workers and an aging population, the care sector is under immense pressure. MyWorkMode offers an affordable, accessible, and reliable solution for care providers seeking to source care professionals at short notice, without significant overhead costs. “With a tried and tested model that instantaneously allows a prospective care provider to find a care worker with the skills and qualifications they need, MyWorkMode can save the care provider up to 30% on fees compared to other recruitment methods. And what’s more, the care worker then often receives a higher rate of pay because the provider can afford to offer this, driving the levels of quality and competitiveness in the market.” You can read the full press here: https://bit.ly/3T0CSn2 Rachel Houlden | Tatjana Golubovic | Eammon Price | Phil Hitchcox | Sarah Keenan | Rachel Tully | Sumita Chopra (MSc, MBA)

Watch our recent Partner Profile spotlight on Alight 👇

After a week of diving deep into the open enrollment process and announcing our partnership with SimplyInsured, we're shining a spotlight on the role managers play in guiding and educating their teams. Why is this so crucial? Studies reveal a significant gap in employee understanding of benefits. A surprising 44% of workers didn't consult anyone when enrolling in benefits, leading to increased financial anxiety and concerns about unforeseen health issues. The solution? Empower managers to bridge this knowledge gap. • Trust in Managers: A third of workers prefer benefits education from their managers, not just HR. • Empowerment through Training: With 40% of managers lacking confidence in guiding their teams through benefits selection, proper training can make all the difference. • Tackling HIPAA Compliance: Managers must balance empathy with compliance. While being supportive, they must avoid delving into personal health conversations. • Effective Communication Methods: While online resources are valuable, one-on-one conversations reign supreme in benefits education. Remember: Managers stand at the forefront of the employee experience, and with the right tools and knowledge, they can make open enrollment smoother and more effective for everyone involved. Thank you for joining us this week as we navigated the complexities of open enrollment. Remember, knowledge is power! 💼📘 Have a fantastic weekend!  #OpenEnrollment #ManagerRole #HREducation #LandmarkHR

🚨 Essential Insights for Open Enrollment Season! 🚨 Hey there, business leaders! As we dive into open enrollment, a recent study by Voya Financial has shed light on a crucial trend: employees are increasingly concerned about their benefits costs. 📊💡 🔑 Key Takeaway: A whopping 71% of employees are worried about affording their benefits amid rising healthcare costs. This means it's more important than ever to offer clear, comprehensive, and cost-effective benefits options. Here's where BenePro steps in! We're dedicated to guiding you through this season, ensuring your benefits package not only meets your employees' needs but also addresses their financial concerns. 🤝✨ ✅ Transparent Communication: Let's break down the complexities of benefits options for your team. ✅ Tailored Solutions: We offer plans that align with both your budget and your employees' expectations. ✅ Peace of Mind: Ensuring your team feels secure and valued is our top priority. Don't let your team navigate these waters alone. Reach out to me for expert assistance in crafting a benefits strategy that truly resonates with your workforce. BenePro, Inc. [email protected] Office: 248-581-0288 | Cell: 313-574-1786 1025 N. Campbell Road | Royal Oak, MI 48067 Employee Benefits | Strategic Benefit Planning | Group Health Solutions #OpenEnrollment #EmployeeBenefits #HRStrategy #HealthcareCosts #BenePro