How well are you managing workers’ compensation claims?

The right analytics approach could yield substantial savings

Posted by Matt Carrier and Frank Zizzamia on May 17, 2018.

The “80/20” rule is commonly applied to workers’ compensation claims: namely, that 80 percent of the cost comes from 20 percent of the claims. What if you could consistently predict whether a claim would fall in that costliest 20 percent so you could handle it in a way that mitigates the risk?

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Good intentions, Great outcomes: Optimizing the value of a tax savings reward

If you plan to share anticipated tax savings with workers, how can you make the impact truly meaningful?

Posted by Michael Niciforo, Garry Spinks, and Naomi Bradley on March 16, 2018.

Due to the reduction in corporate tax rates in the Tax Cuts and Jobs Act of 2017,1 companies have an opportunity to reinvest those savings in the business. Many are choosing to share the savings with their workers in the form of a cash bonus. But while these organizations’ intentions may be good, the outcome of this decision is a short-term, one-time event, rather than something that has longer-term impact. Why? It could be as simple as this: They didn’t ask workers about their wants, needs, and preferences.

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No more sitting on the sidelines

Three large employers joining forces to tackle health care shows inaction is not a strategy to create an irresistible employee experience and optimize your Human Capital Balance Sheet

Posted by Robert A. Dicks, Erica Volini, and David Buck on March 5, 2018.

When three large employers announced they’ve partnered to upend how their employees receive health care, it was a wake-up call for many organizations to rethink the traditional boundaries for how and where they can affect change and drive greater value—not just for the bottom line, but also to help create better experiences for their workforce. The opportunity is immense: Opening the aperture on health care helps create the ability to drive enterprise value and reward shareholders at the same time as hitting the employee trifecta:

  • Derive greater value from every dollar of human capital investment
  • Provide greater value to the workforce
  • Demonstrate commitment to improving employee experience

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Total Rewards – Total Relationships

Driving towards a Simply Irresistible Organization demands a shift in Total Rewards

Posted by Arthur Mazor, Chad Atwell and Jason Flynn on February 2, 2018.

Total Rewards leaders (Compensation & Benefits) are increasingly pressured from both inside and outside the modern organization. Long-time experts in this profession are accustomed to balancing the needs of the workforce, business, and regulators. Now more than ever there are new challenges for Total Rewards professionals to get ahead of – or risk being caught off guard.

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Is your job architecture holding you back?

Posted by Ian Dawson and Jennifer Kwech on September 15, 2017.

Structured job hierarchies with defined roles, responsibilities, reward systems, and career paths may have supported business and HR needs in the past. But with the emphasis on “employee experience,” the modern workforce is demanding greater mobility and flexibility in their careers, with more focus on team-based learning, and a greater breadth of opportunity within the organization. High-performing companies have been able to address these evolving employee demands by examining and restructuring their company’s job titles, reward programs, and career paths. The result is often a flatter, more dynamic organization.

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Incentive compensation plans at all levels merit board and management attention

Posted by Tara Tays on May 18, 2017.

Boards of directors and management routinely scrutinize executive incentive compensation plans to understand whether the plans are in line with the company’s short- and long-term business objectives. However, oversight should not stop there, as plans to compensate and incentivize employees at all levels can expose the company to financial and reputational risks.

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3 ways next-generation performance management is evolving for high impact

3 ways next-generation performance management is evolving for high impact

Posted by Terry Patterson on March 28, 2017.

High-impact HR has caused a radical shift in the way performance is being measured and managed in order for companies to be able to attract, engage, and develop their top performers. Organizations are overhauling their performance management programs and focusing on developing the right mix of total rewards and development opportunities to help keep high-performing talent engaged. According to Deloitte’s 2017 Global Human Capital Trends research, 79 percent of surveyed executives consider redesigning performance management a high priority, and organizational capabilities to implement performance management have greatly improved. This “next-generation” performance management addresses today’s workforce issues through three shifts in approach to more strategic performance management.

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IRS extends deadline for providing Affordable Care Act information reporting statements to individuals

IRS extends deadline for providing Affordable Care Act information reporting statements to individuals
Posted by Jerry Karlin on January 18, 2017.

The Internal Revenue Service on November 18 issued Notice 2016-70*, which extends the due date—from January 31, 2017, until March 2, 2017—for insurers, self-insuring employers, and certain other providers of minimum essential health insurance coverage under Internal Revenue Code section 6055 and for applicable large employers under section 6056 to furnish the Form 1095-B and 1095-C to individuals for the 2016 tax year. (Sections 6055 and 6056 were added to the code as part of the Patient Protection and Affordable Care Act of 2010.)

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Should you appeal a health insurance exchange notice?

Should you appeal a health insurance exchange notice?

Posted by Jerry Karlin and Jamie Gross on September 07, 2016.

Many of our clients have reached out to us about notices they have received from public (federal or state) health insurance exchanges. The notices inform employers about employees who have qualified for subsidies to purchase coverage through the exchange, and give employers the chance to appeal this determination. To appeal, employers have to demonstrate they have offered “affordable” coverage that provides “minimum value” to the employee. The question we’re hearing from clients: Should I respond to the notice?

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