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A new report released by family health benefits platform Ovia Health by Labcorp (Ovia) uncovered U.S. workers’ preferences for family-friendly workplace benefits. American employees are looking for company benefits and policies that support their families, and nearly three-quarters (73%) would leave their current jobs to find them. Respondents also expressed widespread dissatisfaction with available family-friendly benefits. Many (62%) employees don’t consider their employer family-friendly, and almost half (43%) graded their benefits a “C” or lower. Overwhelmingly, working parents seek longer and more pay during parental leave, stronger flexibility policies and child care support. Furthermore, parental leave is generally associated with the birth of a baby, but respondents expressed a need to expand that thinking regarding benefits. In fact, 10%-20% of pregnancies end in miscarriage, validating the employee demand for better maternity management support (to identify risk and intervene) and pregnancy loss support. Along with fertility benefits, there is a growing demand for family-building offerings, including adoption, foster and surrogacy support. One-third (38%) of respondents said family-building benefits are important, but only 5%-14% of employees can access them. Today’s workers want and need unbiased support and alternative family planning support, including adoption and surrogacy. “Pregnancy among people in their 30s and 40s is on the rise, and thankfully, same-sex couples are able to speak more openly about their intentions to build their families. There's more of a need for alternative family-planning support.” - Dr. Jenny Carrillo, president of Ovia Employer Takeaway The Ovia report stated that if an organization values retention, productivity and engagement, it should prioritize fostering a family-friendly culture in 2024 and beyond. To round out a great family benefits package and contribute to holistic wellness, employers can also incorporate nutrition, health screenings and menopause support. An organization can promote a family-friendly culture by making its commitment to its workforce’s health obvious. More workers today are looking for a company culture that inclusively supports their families, assists with various paths to parenthood and helps them navigate life’s journeys. Employers should continue to monitor workers’ desires and adjust their health benefits strategy as needed. Contact Simco today for more information.
Despite employers’ best efforts to offer competitive health care benefits to workers, many employees struggle with medical debt. According to a new survey commissioned by Goodroot, a community of health care companies, more than 4 in 10 employees report having experienced medical debt. “When employees are struggling with a massive, unpayable medical bill, it not only puts tremendous stress on their family but also harms their ability to be productive and contribute to company culture.” - Goodroot CEO Mike Waterbury Medical Debt in the United States In 2023, employers spent an average of $17,393 for family coverage per employee, a 48% increase since 2013. Although employers increasingly invest in their sponsored health care benefits, employees still face medical debt. Consider these key findings from the Goodroot survey: Medical debt remains the leading cause of bankruptcy in the country. Half (52%) of Americans in medical debt owe more than $2,500. Medical debt impacts employees’ ability to cover daily living expenses. At some point, nearly 4 in 10 people have been unable to afford rent, groceries or utilities due to medical bills. People are delaying health care in anticipation of high costs. The majority of Americans (86%) who have experienced medical debt delayed care due to the expected cost. Younger workers are more likely than older ones to experience medical debt, and their debts are larger. Of employees aged 42 or under with medical debt, 59% owe more than $2,500, compared to 45% of workers aged 43 or older. Goodroot stressed that employees often are unaware that financial help is available. Hospitals are federally mandated to offer “community benefits, including free or discounted urgent and medically necessary care to patients unable to pay.” However, each health system has its own financial assistance policy, eligibility criteria and application form, which can be confusing for patients. Employer Takeaway Medical debt is taking a toll on many Americans. Employers can help their workers by integrating hospital financial assistance into health benefits. In addition to health care benefits, some employers are also exploring providing a health-cost navigator who will work directly with employees to help them understand and use their benefits effectively by comparing pricing, reviewing bills and negotiating costs. Employers should continue to monitor health care and benefits trends. Contact us for more resources.
Employee benefits are the cornerstone of a thriving organization. Perks and benefits are pivotal in enhancing job satisfaction, attraction and retention rates, employee well-being and overall workplace morale. While some organizations may feel constrained by budget limitations, there are numerous low- and no-cost benefits that can significantly impact employee happiness and productivity. This article highlights 15 budget-friendly employee benefits. Affordable Benefits That Employees Want Many of today’s most popular benefits come at little to no cost for employers. As the race for talent remains tight, employers may consider offering the following affordable employee benefits to appeal to workers: 1. Flexible work arrangements —Many of today’s workers desire flexible work hours or the option to work remotely. This flexibility can greatly improve work-life balance and reduce stress levels. Remember that flexible work arrangements require clear policies and communication to ensure accountability and consistency among workers. 2. Flexible vacation policies —Instead of rigid vacation accrual systems, more employers are implementing unlimited or flexible vacation policies. Trusting employees to manage their time off can lead to greater autonomy and responsibility and help reduce burnout. However, flexible policies require trust and accountability from employees and may entail additional coordination to manage leave schedules. 3. Wellness programs —Popular wellness initiatives include yoga classes, meditation sessions or health challenges. Promoting physical and mental well-being can lead to healthier, happier employees. Wellness programs are trending as a way to foster positive company culture, but it’s important to keep in mind that they often require commitment and resources for planning and implementation. 4. Family-friendly policies —The path to and journey of parenthood are unique. Employers can offer attractive family-friendly policies, such as parental leave, flexible child care arrangements, generous nursing breaks or assistance with adoption expenses. Supporting employees in their family responsibilities can improve loyalty and morale. 5. Professional development opportunities —Today’s workers value learning and development programs for their career growth. Investing in employee professional growth opportunities, such as online courses, workshops or conferences, demonstrates a commitment to their long-term success. 6. Employee recognition programs —Emotional salary, which comprises non-monetary components contributing to an employee feeling adequately rewarded at work, contributes to higher levels of job satisfaction. Frequent recognition is one such factor of emotional salary that can help keep workers happy. When employees feel valued, recognized and appreciated for their contributions, they are more likely to enjoy their work and find it fulfilling. Therefore, employers can establish a system for publicly acknowledging and rewarding outstanding performance. Recognition doesn’t always have to come with a monetary reward; a simple “thank you” can go a long way. 7. Employee assistance programs (EAPs) —These programs can help employees save on health care expenses, provide tax benefits and promote financial wellness. While such programs require administrative setup, the payoff can be worth it, as EAPs provide confidential support for employees dealing with personal or work-related issues. 8. Flexible spending accounts (FSAs) or health savings accounts (HSAs) —Even if an organization can’t afford to provide comprehensive health care benefits, offering FSAs or HSAs allows employees to set aside pre-tax dollars for medical expenses, which may reduce their financial burden. 9. Financial education workshops —More workers want guidance to increase their financial literacy. To meet this desire, employers can provide resources or workshops on personal finance management, budgeting and retirement planning. Empowering employees with financial literacy can alleviate stress and improve overall well-being. 10. Mentorship programs —Mentorship can facilitate knowledge transfer, boost career development and employee engagement, and strengthen the company’s talent pipeline. By offering mentoring resources or pairing junior employees with experienced mentors within the organization, a company can foster professional growth, skill development and a sense of belonging. A mentorship program can easily be scaled based on employees, roles and organization. 11. Paid volunteer time —Employers can encourage community engagement by granting paid time off for employees to volunteer with charitable organizations. Giving back to the community fosters a sense of purpose and fulfillment and may even enhance team bonding. 12. Casual dress code —Relaxing the dress code policy can make employees feel more comfortable and increase morale. This option could entail casual Fridays or more lax requirements during summer. The dress code policy should be clearly defined to avoid confusion. 13. Summer hours —To help boost employee morale and satisfaction during the summer months, employers can offer summer hours, such as closing an hour or two early on Fridays. This perk demonstrates flexibility and trust from the employer and can ultimately help improve employees’ work-life balance during vacation season. 14. Employee discount programs —Employers can offer discounts that appeal to workers’ interests and needs. This perk allows employees to save money on their everyday purchases, which can improve their financial literacy and boost company loyalty. Keep in mind that exclusive discounts hinge on partnerships and negotiation, and they may not be equally beneficial to all employees, depending on their interests and preferences. 15. Health and wellness resources —It may be beneficial to provide access to resources such as mental health hotlines, virtual counseling sessions, or fitness and meditation apps. Prioritizing employee well-being sends a clear message that their health is valued. Summary Offering employee benefits doesn’t have to come with a hefty price tag. These low- or no-cost benefits that workers value can enable employers to create a supportive and fulfilling work environment that, in turn, attracts and retains top talent. Investing in employee satisfaction not only boosts morale and productivity but also strengthens the overall success and reputation of the organization. Contact Simco for more information.
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On April 23, 2024, the Federal Trade Commission (FTC) voted to issue a final rule that would ban noncompete agreements in virtually all employment relationships. The final rule has not yet been filed in the Federal Register, but is scheduled to take effect 120 days after such filing. Final Rule The final rule defines a noncompete clause as a term or condition of employment that prohibits a worker from, penalizes a worker for or functions to prevent a worker from: (i) Seeking or accepting work in the United States with a different person where such work would begin after the conclusion of the employment that includes the term or condition; or (ii) Operating a business in the United States after the conclusion of the employment that includes the term or condition. Such terms or conditions include employee contracts or workplace policies, whether written or oral. Subject to very limited exceptions, the final rule provides that: The use of noncompete clauses will be banned as of the effective date; Any existing noncompete clauses (other than those entered into with senior executives) will be invalidated; Employers must notify all employees (other than senior executives whose existing noncompete agreements will remain enforceable) that their existing noncompete agreements will not be enforced. Currently, the enforceability of noncompete clauses is determined by state and local legislatures and courts. The FTC rule would instead govern the enforceability of noncompete clauses at the federal level and supersede any less restrictive state laws or judicial interpretations. Legal Challenges On April 24, 2024, the U.S. Chamber of Commerce sued the FTC, seeking to block the final rule. The complaint was filed in the U.S. District Court for the Eastern District of Texas and argues that the FTC lacks the authority to issue rules that define unfair methods of competition. Additional legal challenges are likely, so employers should monitor for updates and anticipate potential uncertainty in the coming months. Next Steps for Employers Employers may consider reviewing existing employee agreements or form agreements (such as new hire paperwork) to determine whether any contain noncompete clauses that would be invalidated under the rule. Employers may also begin preparing revisions to such agreements and consider whether to use alternatives to noncompete clauses (e.g., nondisclosure clauses) to protect competitive business information.
You likely have heard about the upcoming 2024 total solar eclipse. In the United States, Mexico and Canada, the solar eclipse will take place today: Monday, April 8, 2024. You may have questions about when it will occur, where you can see it and how to view it safely. If you are planning to view the solar eclipse, safety should be the number one priority. This article provides information about the 2024 solar eclipse, including how to stay safe and how you can learn more. The details provided are compiled from the National Aeronautics and Space Administration (NASA). What Is a Total Solar Eclipse? A total solar eclipse happens when the moon passes between the sun and Earth, completely blocking the face of the sun. People viewing the eclipse from locations where the moon’s shadow completely covers the sun, known as the path of totality, will experience a total solar eclipse. The sky darkens, similar to a normal dawn or dusk. The 2024 total solar eclipse will only last for two to four minutes, depending on the viewer’s location. However, the full experience will last over an hour from the initial partial eclipse to the conclusion of the event. If weather allows, viewers along the path of totality will see the sun’s corona, or outer atmosphere, which is usually obscured by the face of the sun. Where Can I See the Total Solar Eclipse? In the United States, the path of the solar eclipse will extend from Texas to Maine, crossing through Oklahoma, Arkansas, Missouri, Illinois, Kentucky, Indiana, Ohio, Pennsylvania, New York, Vermont and New Hampshire. Depending on your location , the total eclipse will take place between 12:23 p.m. and 3:02 p.m. CDT and between 1:59 p.m. and 4:40 p.m. EDT. An estimated 31.6 million people live in the path of totality this year, and an additional 150 million people live within 200 miles of the path of totality. Millions more are expected to travel to prime viewing locations over the weekend. Even if you don’t live directly on the path of totality, you may be able to see a partial eclipse. NASA estimates that 99% of people in the country will be able to see a partial or total eclipse from where they live. The solar eclipse will also be viewable online. NASA will be showing a live stream on Monday, April 8, from 1-4 p.m. EDT. The live stream will be available for viewing here . Is This Different Than the Solar Eclipse That Happened in 2017? The total solar eclipse that took place on Aug. 21, 2017, and this year’s total solar eclipse are similar events. However, the path of the 2017 eclipse was narrower than what will take place during the 2024 total solar eclipse. On April 8, 2024, the total solar eclipse will be visible to more people in the United States and last longer. How Often Does a Total Solar Eclipse Happen? Total solar eclipses happen, on average, once every 18 months across the globe. In North America, a total solar eclipse occurs only six times between 2001 and 2050. After the 2024 solar eclipse, there will be one that is viewable from some parts of Alaska in 2033. A total solar eclipse will be viewable by some northwestern states in 2044, followed by one that broadly reaches the U.S. in 2045. How Can I Stay Safe? During the total solar eclipse, looking directly at the sun without specialized eye protection for solar viewing is not safe. According to NASA, the exception is during the brief total phase of a total solar eclipse, when the moon completely blocks the sun. Here are safety tips to consider: Avoid looking at the sun directly. Viewing any part of the sun through a camera lens, binoculars or a telescope without a special-purpose solar filter secured over the front of the optics will instantly cause severe eye injury. Use safety protection. When watching the partial phases of the solar eclipse—which happens before and after totality—directly with your eyes, you must always look through safe solar viewing glasses (“eclipse glasses”) or a safe handheld solar viewer. You can also use an indirect viewing method, such as a pinhole projector. Learn more about safe solar viewers and filters here . Don’t use viewing devices that are not approved for use during the solar eclipse. Use only approved devices. NASA specifically advises against wearing standard sunglasses during the solar eclipse. Wear sunscreen. If you are outside for hours, you may be subject to ultraviolet rays from the sun. It’s important to properly apply SPF for your skin safety. Prepare for large crowds. If you are viewing the eclipse in or near any city on the path of totality, you should expect more traffic and crowds than normal. Plan ahead for longer transportation times and bring water and anything else you’ll need to stay comfortable. There are ways to experience this event while staying safe. NASA provides more information about safety during the total solar eclipse. Learn More If you plan on viewing this event, create a plan to prepare for and stay safe during the total solar eclipse. This is a once-in-a-lifetime experience for many viewers, but it can create safety risks for participants who don’t take precautions. Check out resources from NASA’s website to learn more.
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