Archive for September, 2010
Prescription Benefit Ripoffs.
It’s easy to feel like your PBM holds all the power over you. In most cases, it does.
A landmark 2004 study compared what drug store benefits managers (PBMs) charge businesss’ plans to what they actually pay pharmacies.
Researchers found staggering overcharges – namely for generic drugs. Unfortunately, four years later, the situation has scarcely changed. All [...]
Employee Recognition and Health Promotion Programs.
The best staff member recognition practices are often the simplest.
Here is one that’s lately been adopted at the publishing organization where I work – a progam called “See something good, say something good.” It’s a way for employees to bring positive attention to things that their peers, managers and the company’s different departments do well.
Precisely [...]
Three Ways Health Promotion Programs Fail.
When it comes to wellness programs, it can be tough to get past all the hype. Here’s how to avoid the three most common traps businesss fall into.
Trap #1. The “one-size-fits-all” approach
For good reason, your corporation doesn’t simply copy other firms’ 401(k) plans or compensation designs. Yet, all too often, firms adopt ill-fitting wellness programs [...]
Worker Pay Issues.
Variable compensation could be a great way to satisfy demand for higher pay while addressing upper management’s need to improve productivity and keep base salaries under control.
But there are some major pitfalls. Here are two proven ways to avoid the most common legal and return on investment risks.
Non-exempt employees
Beware if you use variable comp as [...]
Insurance Broker Concerns.
Shopping for heath programs through a broker is a fact of life for the vast majority of organizations. But how well is your broker meeting your needs?
And how can you work together better to minimize costs while getting maximum bang for your organization’s benefits buck?
What’s New in Benefits and Compensation conducted an exclusive survey of [...]
Presenteeism.
Which costs your business more – staff members who miss work or ones who show up physically but take a mental PTO day?
For most companys, it’s the latter. So why do even savvy senior level managers and finance directors (we’re not just talking about the bean-counters) worry about absenteeism while downplaying so-called presenteeism as a [...]
Staff Member Recognition Ideas.
Any benefits HR/manager can adopt these ways to make personnel feel more appreciated.
The common thread – using your own communication skills as a powerful tool for boosting morale.
1. Put in face time
When time permits, managers may want to put in some “face time” with workers. This in and of itself is a type of staff [...]
Exactly how Recognition Programs Fail.
Looking for recognition ideas that get results? Here are two keys to success -
The most common characteristics of high-ROI recognition programs – regardless of their monentary value – are their spontaneity and perceived value by workers themselves.
In reality, the cost of some of most effective spot awards and bonuses often amount to less than 1 [...]
Boosting Employee Morale.
Looking for ways to improve morale, productivity and retention? Spot awards may be the way to go.
They are the most well-liked recognition incentives among workers, a recent research study shows. The best part – the incentives usually amount to less than 1 percent of base pay. That also can makes this option attractive to C-levels. [...]
Health Benefits identity theft.
In the last few years, there’s been a lot of publicity about the fast-growing crime of identity theft. Greater than half happen in the worksite. Benefits and compensation files are the most vulnerable targets.
The scariest part – Victims of benefits-related ID theft often make out worse than those who fall prey to the more common [...]