Searching Benefits on page 4

; However, outside of mandatory benefits such as unemployment compensation, workers’ compensation and Social Security, very few benefits are required to be offered to any employee, let alone part-time employees.

Answering the Call for Veteran-Focused Benefits Once onboarded, one strategy to better engage and retain veterans in the workforce is to tailor aspects of the benefits program for this group’s particular needs.

“A key aspect of returning to the office is team-building and fostering the culture, so there can be a real benefit to offering these benefits.”

Businesses know how to match their competitors in tangible benefits, but they don’t necessarily know how to match or beat them in nonmonetary benefits.

While each organization and each department or job type may have its own obstacles to benefits utilization, here are some typical factors to consider: Time to use the benefit.

Tailor Your Rewards While benefits such as work-life balance and flexibility are generally important to employees regardless of age, it may also behoove total rewards professionals to explore rewards offerings specifically tailored toward the needs of younger generations, Spencer said. “ Student debt support might disproportionately benefit millennials and Gen Z, but it could be a worthwhile investment for employers, given that 41% of survey respondents indicated that student loan debt has or will prevent them from pursuing their passions,” Spencer said.

Employee Benefit Research Institute (EBRI). 2018.

Key Takeaways Offering travel reimbursement benefits .

They have gone from predominately employer-provided defined benefit pension plans with their lifetime benefits for the retiree and spouse to defined contribution 401(k) plans that do not provide lifetime benefits.

For organizations with a diverse employee population, offering translated versions of benefit information can further enhance understanding and perceived value. ; ; Regardless of what benefits resonate with employees most, TR professionals should communicate those benefits in a way that is easily digestible and quickly understood , Jones said.