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Post Coronavirus: Leveraging Benefits & Compensation

compensation and benefits

2.5 minute read

Right now, many employers may be facing hard decisions that lead to layoffs, furloughed employees, and reduced pay. That's why now is a good time to take a moment and look towards the future, specifically how the pandemic will change the types of benefits offered to employees. Post coronavirus, many employers want to leverage their benefits (including compensation) to meet the evolving needs of their current and prospective workforce.

Benefit Considerations

Employers should take the following needs into consideration when developing plans for the post-coronavirus employment market:

  • Paid sick leave – Many employers are expanding their paid sick leave. It’s a valued benefit to ensure that an employee can take care of themselves or a loved one.
  • Expanded PTO – Paid time off is seen as a valuable perk.
  • Flexible scheduling – Employees may still be balancing caretaking and personal responsibilities while schools, day cares, etc. are still closed. Flexible scheduling is an attractive benefit.
  • Remote work options – Is it feasible within your organization? Employees are interested in flexible work arrangements or the opportunity to work remotely if possible.
  • Additional health benefits – Providing services such as an employee assistance program, telehealth services, or mental health support are attractive benefits to employees.

 

Workplace Safety

The ability to work in a safe environment is one of an employee’s top priorities. Employers should evaluate if they have created a safe and healthy workplace post coronavirus. This may include items like social distancing, wearing face masks, and increased office cleanings. When recreating safety practices or considering a reopening, follow local health official guidance and review the up-to-date guidelines from the Centers for Disease Control and Prevention.

 

Employee Relations

The last few months have been taxing for everyone. Keep this in mind when you are sharing good or bad news with your employees. Consider surveying your employees to get a current feel for their thoughts on their benefits and compensation. When making any changes or updates, communicate to them clearly in a transparent and timely manner.

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This blog is intended to be a compilation of information and resources pulled from federal, state, and local agencies. This is not intended to be legal advice. For up to the minute information and guidance on COVID-19, please follow the guidelines of the Centers for Disease Control and Prevention (CDC) and your local health organizations.

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Bill Enright

Bill Enright

Bill Enright is Director of Consulting Services at National Insurance Services (NIS). He’s responsible for the management, fulfillment, and strategic direction of the full benefit consulting clients and services and the professional development of NIS full benefit consulting personnel. Bill is a 29+ year veteran in the employee benefits industry, from insurance carrier, benefit consultant, and now director. He has been published on the topics of health care reform and has served on the advisory committees and insurance lobbying groups at the state and local level. Bill served in the U.S Army Reserves as a non-commissioned officer for 11 years. He’s also involved with Special Olympics, youth sports coaching, and is a small group leader at his church.