Trends in employee benefits: Perspectives from the C-suite and HR/benefit managers

|

article image
More than four years after the passage of the Affordable Care Act (ACA), media headlines continue to stream about the potential impacts on employers of all sizes. Yet according to the 2014 Employee Benefits Trends Survey commissioned by Wells Fargo Insurance, employers themselves are split on how reform will impact business.

Spotlight

THE CLARKS GROUP

Building world class teams with a global reputation for excellence. Executive Recruiter, Professional Contract Staffing experts. With every search brings incomparable recruitment resources and personal commitment to excellence. Specialties: Across industries, The Clarks Group provides world class searches for a : Human Resources Supply Chain Logistics Engineer Operations Marketing, Finance, Accounting and Customer Care. Services: Recruiting, Contingency Search and Retained Search, Contract Staffing, Job Search Process.

OTHER ARTICLES

What are HR Tech Buyers Researching?

Article | August 30, 2021

“HR Should be the digital transformation leader because, in reality ‘digitalization challenges’ are work culture challenges.” - Jane McConnell, Thought Leader Over a year or so, there has been massive transformation across HR technology. Today the business leaders have become significantly more digitalized to remain competitive. In addition, the pandemic has drastically changed the way companies have adapted pace to purchase and implement new technologies. The traditional way of office-based work was replaced with a virtual workforce, prioritizing efficiency and value-creation. Rapid development in fast-paced, low-cost, modernized, and automated HR Tech solutions transforms the global hiring process. This article will guide HR Tech buyers through new technologies and help you alleviate the HR process. Trending HR Tech Features Buyers Want To scale and ease the HR process, companies have started investing in technologies. As a result, many HR Tech companies have come up with easy-to-use and implement solutions to optimize your HR processes and maximize business output. Following are the trending features that businesses are looking forward to when buying an HR Tech solution for their organization. Recruitment In the past year, a lot has happened around the recruitment process. HR professionals focus on achieving higher-value objectives like keeping staff happy and engaged, improving retention, and support recruitment strategies. Recruitment professionals can use Artificial Intelligence-powered tools for applicant sourcing, assessment, and screening. Moreover, Artificial intelligence can also help improve the candidate experience. Virtual Reality (VR) technology can be a worthful tool for recruiting and training employees. Benefits & challenges As an employer, a hybrid workforce and flexible working hours come with many challenges. Allowing remote teams with flexible working hours will help companies attract suitable candidates for the role. However, to adopt an effective remote work, companies need to ensure a secured network, cloud sharing needs to be seamless, and all the necessary software must be successfully managed. Cyber-security is one of the biggest concerns’ companies face, which can be resolved with trusted solution providers. Learning & development Learning and development have become even more important than ever. With workforces such as millennials and Gen Z are craving diversity and inclusion programs from their employers. Challenges HR Tech buyers faced are creating an employee-friendly work culture, easy ways to onboard and train, and offering the right compliance training tool. HR Tech buyers are researching technologies that are easy to implement and roll out a successful HR management program. Talent & People Management The future of the workplace has changed drastically. Talent management and people management in a remote work environment has become even more challenging. Managers and HR are constantly trying to keep the staff motivated, nurturing talent, and empowering them to improve and update holistically is becoming the top priority. Companies will recognize, develop, and retain talent for better team-building with the right technology and collaborative efforts. Leadership Development Businesses need to focus on leadership development. Millennials are confident to take over the workforce soon. However, 63% of these young workforces feel their employers are not fully developing their leadership skills. Complementary leadership includes pairing leaders with balanced skill sets so that they can share responsibilities. This leadership style helps teams remain active and well-organized. Meanwhile, HR can learn how employee performance varies and create a pool of employees recruited for leadership roles. Challenges and buying process The process of buying or investing in new technology may vary between organizations. However, a basic understanding can help build and establish prospects in the pursuit of a digital transformation. Commonly faced challenges in an organization in buying HR technology may be due to the number of decision-makers involved; stakeholders may have pre-notion views, backed by their research, and set of potential solutions are often overwhelming. Following are the steps for a business to considering while buying an HR Tech:- Identifying the problem areas and prioritize Figuring out requirement areas and uncompromised and need for process development Listing down solutions and exploring all the available options, hands-on Selecting an easy to implement, adapt, and process solution Associate with a trusted solution provider Agreement and approval of funding Final Thoughts Investing in the latest HR Tech solution doesn't necessarily be overwhelming or complicated. All the digital solutions companies are expanding to meet the demands of the changing landscape. It's no longer pioneering to have the latest and innovative technology; instead, it's becoming a widely accepted norm. FAQ's Q. Who is an HR Tech buyer? A. HR Tech buyers are the top decision-makers in any organization. They need to anticipate the future of the work environment and provide solutions to build an adaptive and flexible environment for a hybrid workforce. Q. What is new in HR technology? A. Due to a hybrid work environment, employee training and development are moving to the digital realm. This shift has given rise to the development of new and innovative solutions. Some of the latest innovative technologies are using gamification, AI, and AR/VR { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Who is an HR Tech buyer?", "acceptedAnswer": { "@type": "Answer", "text": "HR Tech buyers are the top decision-makers in any organization. They need to anticipate the future of the work environment and provide solutions to build an adaptive and flexible environment for a hybrid workforce." } },{ "@type": "Question", "name": "What is new in HR technology?", "acceptedAnswer": { "@type": "Answer", "text": "Due to a hybrid work environment, employee training and development are moving to the digital realm. This shift has given rise to the development of new and innovative solutions. Some of the latest innovative technologies are using gamification, AI, and AR/VR" } }] }

Read More

Covid-19, Difficult Truths and the Urgency of Closing Racial Gaps

Article | August 30, 2021

In less than two months, COVID19 has forced America to look at an honest picture of itself that it has been avoiding for a long time. It isn’t pretty. We are witnessing the costs of building a society where a large part of the population experiences extreme financial instability, housing insecurity, student debt burdens, lack of basic health care, and can’t even provide broadband at home so their kids can go to school. None of this information is new, but it took a crisis like this to make it impossible to keep such shameful statistics at arms’ length, when so many of our family, friends and neighbors are suffering.

Read More

HR’s silver lining in a game-changing year

Article | August 30, 2021

The HR function has evolved over recent decades; its evolution reflects changes in business operations and shifts in the dynamics between employers and employees. Today, due to COVID-19, the role of HR has undergone its most dramatic reinvention yet – but for the better. HR personnel have, for a long time, been perceived as those who deal with the “soft and fluffy” aspects of business: people’s problems, emotions, needs, ideas, etc. They don’t deal with hard numbers and fundamental business operations. Right? Wrong.

Read More

How HR has changed more in the last 20 days than in 20 years

Article | August 30, 2021

HR is arguably having to manage more change to strategically support businesses in the last 20 days than they have done in the last 20 years. Will these shifting practices become the new normal? The CIPD recently launched its look back on changes for HR in health and absence in the workplace in the last 20 years. But by the time the article was published, like most of normal life right now, things had moved on apace for HRs.

Read More

Spotlight

THE CLARKS GROUP

Building world class teams with a global reputation for excellence. Executive Recruiter, Professional Contract Staffing experts. With every search brings incomparable recruitment resources and personal commitment to excellence. Specialties: Across industries, The Clarks Group provides world class searches for a : Human Resources Supply Chain Logistics Engineer Operations Marketing, Finance, Accounting and Customer Care. Services: Recruiting, Contingency Search and Retained Search, Contract Staffing, Job Search Process.

Events