The Value of The Benefit Statement

With the election past and a new president in office,Guest Posting our country can expect some decisive changes in the coming future. Like it or not, one thing is fairly certain: Universal Healthcare is on the way. And a change in healthcare means a change in human resource information systems Benefits of Using.

At this point, it’s still difficult to pinpoint just what the phrase “Universal Healthcare” might mean. To some, it suggests a single-payer, government-run system; to others it means mandated insurance purchase, and still others expect that current government programs will be expanded to cover the working poor and children.

Naturally, this vague UHC entity will take on a more definite shape over the course of the next year as legislation hones in on the healthcare issue. For the time being, however, the best we can do to prepare for the coming changes is to remember the two core principles of human resource management: strategy and communication.

Chances are good that the employee-based system of providing health care will remain in place, meaning that the task of communicating any changes in this system will fall to the employer. This is no small responsibility. Making changes in a company’s HR system will be an ongoing process over the course of several years, and HR departments everywhere will have to repeatedly ensure that their employees understand differences in benefits, costs, and access instructions.

The Benefit Statement

General consensus suggests that the best way of communicating changes to employees is through the use of benefit statements. Not only do benefit statements summarize the unique benefits of each program, they also set forth the cost of each benefit as paid by the employer. Statistically, benefit plans represent 42% of the company payroll – yet 80% of covered employees do not comprehensively understand these benefits.

It is essential that employees understand the value of a benefit package as a whole, because this generates greater success in recruitment and retention, as well as a significant increase in employee satisfaction.

Recently, the benefit statement has gained importance as yet another kind of tool: a means of communicating business strategy. By constructing and conveying a sound long-term strategy, employers can make it clear that they care about their employees and have a plan for the future which involves everyone.

Stress Benefits, Not Costs

When it comes to delivering your employee benefit statements, half the battle is won based on the way you shine your sword. Too often, an HRIS spits out a single-page summary of benefit costs, with no detail or elaboration to help improve the employee’s knowledge of the package.

Such benefit statements typically place too much emphasis on the employer’s cost, rather than the employee’s benefits; not only are they uninformative, but at times they can even lead to bitterness and resent instead of appreciation and understanding! A benefit statement should be a work of superior quality and pride, thus conveying the importance of the employee benefit program to the company.

Citizens are the most important assets of a country and taking care of them is the first priority of the government. This policy has been followed since ages and even today every government works towards making its citizens richer,Guest Posting happier and more comfortable.

The Value of The Benefit Statement

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