The Importance of Workplace Education & Development

Training and development programs offer companies an opportunity to expand the knowledge employees while building commitment to the organization.  There are a multitude of offerings to enhance L&D initiatives including training/coaching programs, mentoring, individual studies and on-the-job learning from managers and leadership.

Learning & Development Survey Results:

In early September of this year we surveyed members of the Post’d Network and collaborated with Seed + Branch on their research on the importance of “Learning & Development” in organizations.  Following are the results and learnings.

The survey respondents were largely HR/People Generalists with 10+ years of experience, with the majority representing growth stage organizations with 100+ employees.

  • Individuals were generally satisfied in their roles and felt there could be improvements with
    increased resources and budgets (majority scoring between 4 & 7 on lack of budget)
  • Majority said the company prioritizes L&D, but felt that L&D would be their top investment if money weren’t an object (money was the top reason for lack of investment)
  • Mid-Level Managers were least supported, but Senior to Upper Management were most critical to success
  • Major challenges were: Retention, L&D, Processes & Specifically Soft Skill Development
  • Most Important Topics: Goal and Role Clarity followed by Communication

Top 5 areas for Manager to Improve:

  • Communication & Feedback
  • Professional Development
  • Goal/Priority Alignment
  • Job / Role Clarity
  • Career Path
Whether your company has a robust budget or none at all there are solutions to fit diverse organizational needs and the benefits are clear:
  • Improved employee performance and productivity
  • Improved employee satisfaction
  • Increased innovation and strategic planning
  • Increased retention
  • Enhanced company reputation
Seed + Branch specializes in helping growth stage companies succeed through strategy and leadership consultancy.  You can reach out to them here for more information on how they can support your L&D initiatives.

5 Key Questions for Fertility Benefits

Evaluating new benefits vendors is stressful. Not only is it a huge investment in terms of resources but selecting the wrong vendor can lead to negative consequences such as low utilization and unhappy employees. That’s why it’s critical to ask the right questions during the evaluation process to ensure you’re making a well-informed decision.

Custom Fertility Benefits:

Today, Carrot Fertility – a customized fertility benefits solution for the modern company – is sharing a list of must-ask questions for HR and benefits teams when it comes to selecting your next fertility benefits vendor.

Below are 5 key questions to consider when evaluating fertility benefits for your company and its employees:

1. Do you provide flexible financial coverage? Cost is consistently ranked as the top pain point when it comes to fertility benefits. There’s a myth that fertility coverage has to be all or nothing, but that’s absolutely not the case. It’s important to make sure your vendor has the ability to offer flexible financial coverage that fits your needs and provides predictable costs every month.

2. Is your solution inclusive of everyone? Fertility solutions aren’t one-size-fits-all. Gay parents have completely different needs from women seeking egg freezing, which is why having inclusive and diverse offerings is crucial. Many vendors only offer services for heterosexual couples or carve-outs for donors, gestational carriers, and adoption. This not only creates additional administrative burden for benefits teams, but it also isolates certain members of your workforce.

3. Do you offer a global solution? You want to find a fertility benefits vendor that can grow with your company. This means looking for a complete solution that has the ability to deploy easily on a global scale across North America, EMEA, LATAM, and APAC. You also want a partner whose network of clinics and fertility experts span the globe as well to have access to expertise in every region. Otherwise, you’ll likely be forced to look for a different vendor the following year.

4. Can you separate pricing by treatment costs vs. vendor fees? Successful long-term partnerships are built on trust, so make sure your vendor is transparent about how their fees are earned. There shouldn’t be any confusion about the cost of a treatment versus what goes into the vendor’s pockets, nor should there ever be hidden fees or financial conflicts of interest. If they can’t clearly answer this question, then they might not be the right vendor for you.

5. Can you offer insights without compromising employee privacy? In the world of healthcare, having privacy features to safeguard your employee’s information is absolutely critical. Confirm that your vendor has the ability to offer useful insights from their platform while also respecting the anonymity of their employees. This way, you can receive high-level information that will inform your benefits and fertility coverage strategy without losing the trust of your employees – or risk compromising their personally identifiable data.

By asking the right questions while evaluating your fertility benefits vendor options, you can save yourself a ton of trouble down the road. If you’re interested in learning more about Carrot Fertility’s offerings, you can learn more and request a demo on their website.

Benefits of Corporate Philanthropy

Corporate Social Responsibility, which encompasses all of the initiatives businesses participate in to make a positive impact on the communities around them, has been a part of the workplace for a long time.

Whether it’s the donation of ones time or money, giving back supports causes on a global scale (think foreign aid donations, clothing/food/supply donations in the wake of natural disasters, or volunteer work) or on a local scale (such as donating food to a food bank, volunteering to help students after school, or supporting animal shelters). The energy put into helping one’s community to improve quality of life for one another not only positively impacts those to whom we give to, it positively impacts those who do the giving, too.

Companies like Google, Lego, Intel and Microsoft are amongst some of the leading companies fully embracing social responsibility. According to Giving USA 2019: The Annual Report on Philanthropy for theYear 2018giving by corporations is estimated to have increased by 5.4% in 2018 from the year prior, totaling $20.05 billion.

That same report also uncovered that foundations and corporate giving programs accounted for a majority of donations, highlighting how important the act of giving to important causes, really is. Charity is meant to be done for public benefit, relief and to provide assistance to people at times of need in any part of the world, helping to foster a better quality of life for humans and animals alike In 2018, substantial growth was seen in giving to international affairs and environmental / animal organizations.

Philanthropy’s Impact on Employees:

Donating, both through time (volunteering) or money, can actually make your people feel good and happy. The act of helping others triggers a release of a chemical that boosts ones mood and counteracts the effects of the stress hormone. When that good mood hormone is boosted, so are serotonin and dopamine (aka the happy chemicals)! Long story short, helping others helps your employees in the following ways:

  1. Greater sense of connection to colleagues and to their company
  2. An increased sense of pride and ownership
  3. Better mood & more feelings of happiness
  4. Improved sense of wellbeing

Philanthropy’s Impact on Business:

1. Increase employee engagement and productivity: Philanthropy programs that involve employees foster stronger employee connections to one another and their company. The personal impacts that giving has on individuals translate into their work, which can increase employee engagement and thus productivity.

2. Improve company culture: According to a Deloitte study on volunteering, Millennials reported being “twice as likely to rate their corporate culture as very positive” if their company participated in workplace volunteer activities.

3. Attract top talent: As the lines between personal life and work continue to blur, employees are looking for employers who not only offer them a pay check and benefits, but those who also support their passions, charitable giving included. While Millenials are a main proponent of this, other generations agree. According to Givinga, 78% of employees want to be an active participant in Corporate Social Responsibility (CSR) initiatives, 58% consider CSR commitments when deciding to join a company and 51% will not work for a company that doesn’t have a strong CSR commitment.

4. Increase sales: Charitable giving or volunteering can improve brand awareness and attract new customers who associate your company/brand with positive social responsibility.  This can be done by marketing your giving initiatives to the public. When weighing between two similar services or brands, consumers are likely to choose that which supports important causes.

5. Receive tax deductions:  Donating to charity provides companies with financial gain. While this shouldn’t be a sole reason to put CSR initiatives in place, it is a benefit. Tax deductions from charitable giving can be received. Just be sure to consult with a finance professional to ensure compliance with all tax requirements.

Behind the Benefits: The 2020 Vision of What Employers Really Want

What your employees want from their benefits program may actually be different than what you think they want.  In mid-2019 we embarked on a journey to find the answers through a dual survey (one with employers and one with employees) with well over 250 companies in the NYC metro and SF Bay areas. 

The time to update your benefits offerings is not after your top performing employees have left for more generous opportunities. Staying ahead of the trends allows employers to attract and retain their top talent and avoid costly onboarding and training expenses.

Here’s What We Found:

The members we surveyed fell into one of three generational cohorts: Baby Boomers (ages 55-73), Generation X (ages 39-54), and Millennials (ages 23-39). Understanding the upbringing, current standing, and values of each of these generations is key to understanding what they are looking to get out of life and a career.

Generation B: Baby Boomers – Employee Survey Highlights

Born in the year 1946 – 1964

Generational Traits:

  • Employer Loyalty – I could work my way to the top!
  • Training – Tell me what to do.
  • Elder Respect – Automatic.
  • Change – Dislike.
  • Communication – Land line.
  • Tech – Ignorant.
  • Government – They aren’t trusting.

Employee Benefits Satisfaction – 3.5 / 5

  • Most Valued Benefit – Medical Health Insurance
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 50% Conferences & Professional Development
    • 50% Unlimited Time Off
    • 25% Financial Planning Services

Generation X – Employee Survey Highlights

Born in the year 1965 – 1980

Generational Traits:

  • Employer Loyalty – I’ll work if I have to.
  • Training –  Show me HOW to do it.
  • Elder Respect – Polite.
  • Change – Accepting.
  • Communication – Cell phone.
  • Tech – Comfortable.
  • Government – They are skeptical.

Employee Benefits Satisfaction – 3.3 / 5

  • Most Valued Benefit – Medical Health Insurance
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 53% Unlimited Time Off
    • 46% Tuition Reimbursement, Conferences or Professional Development.
    • 40% Childcare services.

Generation Y – Millennials – Employee Survey Highlights

Born in the year 1980-1996

Generational Traits:

  • Employer Loyalty – Jobs are a dime a dozen.
  • Training –  WHY do I need to learn this?
  • Elder Respect – Must be earned.
  • Change – Demand it!
  • Communication – Text/Tweet.
  • Tech – Masters.
  • Government – They are distrusting.

Employee Benefits Satisfaction – 3.4 / 5

  • Most Valued Benefit – Flex time / Paid time off
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 45% Unlimited time off.
    • 45% College loan repayment.
    • 35% Tuition Reimbursement or Continuing Education.

EMPLOYEE vs. EMPLOYER

Employee – +50% of the three generations top desired benefit is Unlimited Paid Time Off

vs.

Employer – Less than 1% plan on offering Unlimited Paid Time Off as a benefit in the next year

__________

Employee – 40% of Gen X want Childcare as a benefits

vs.

Employer – Only 3% of employers offer Childcare as a benefit

__________

Employee – 45% of Millennials want College Loan Repayment as a benefit

vs.

Employer – Only 14% of employers offer College Loan Repayment as a benefit

__________

Employee – 25% of Baby Boomers want Financial Planning Services as a benefit

vs.

Employer – 22% of employers offer Financial Planning Services

Benefits trends are constantly evolving, and it is apparent that the most successful companies are forward thinking when it comes to their offerings and improving employee satisfaction. Formulating a benefits program that appeals to a diverse audience and provides incentive to complete quality work can give any business a competitive edge. In addition, the investment in your employees can reduce turnover and as a result, reduce onboarding expenses that can ultimately be more expensive than a benefits package.

As a new generation enters the workforce, it’s impossible to anticipate the new expectations they will create and set in their work environments. No matter what new insights and ideas they bring to the HR landscape, by understanding historical trends, employers can anticipate continued change in employee expectations surrounding technology, social norms, and innovation.

To read the complete report on the findings from our survey please click here.

Behind the Benefits: The 2020 Vision of What Employees Really Want

What your employees want from their benefits program may actually be different than what you think they want.  In mid-2019 we embarked on a journey to find the answers through a dual survey (one with employers and one with employees) with well over 250 companies in the NYC metro and SF Bay areas. 

The time to update your benefits offerings is not after your top performing employees have left for more generous opportunities. Staying ahead of the trends allows employers to attract and retain their top talent and avoid costly onboarding and training expenses.

Here’s What We Found:

The members we surveyed fell into one of three generational cohorts: Baby Boomers (ages 55-73), Generation X (ages 39-54), and Millennials (ages 23-39). Understanding the upbringing, current standing, and values of each of these generations is key to understanding what they are looking to get out of life and a career.

Generation B: Baby Boomers – Employee Survey Highlights

Born in the year 1946 – 1964

Generational Traits:

  • Employer Loyalty – I could work my way to the top!
  • Training – Tell me what to do.
  • Elder Respect – Automatic.
  • Change – Dislike.
  • Communication – Land line.
  • Tech – Ignorant.
  • Government – They aren’t trusting.

Employee Benefits Satisfaction – 3.5 / 5

  • Most Valued Benefit – Medical Health Insurance
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 50% Conferences & Professional Development
    • 50% Unlimited Time Off
    • 25% Financial Planning Services

Generation X – Employee Survey Highlights

Born in the year 1965 – 1980

Generational Traits:

  • Employer Loyalty – I’ll work if I have to.
  • Training –  Show me HOW to do it.
  • Elder Respect – Polite.
  • Change – Accepting.
  • Communication – Cell phone.
  • Tech – Comfortable.
  • Government – They are skeptical.

Employee Benefits Satisfaction – 3.3 / 5

  • Most Valued Benefit – Medical Health Insurance
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 53% Unlimited Time Off
    • 46% Tuition Reimbursement, Conferences or Professional Development.
    • 40% Childcare services.

Generation Y – Millennials – Employee Survey Highlights

Born in the year 1980-1996

Generational Traits:

  • Employer Loyalty – Jobs are a dime a dozen.
  • Training –  WHY do I need to learn this?
  • Elder Respect – Must be earned.
  • Change – Demand it!
  • Communication – Text/Tweet.
  • Tech – Masters.
  • Government – They are distrusting.

Employee Benefits Satisfaction – 3.4 / 5

  • Most Valued Benefit – Flex time / Paid time off
  • Top 3 Desired Benefits (participants were allowed to select more than one category):
    • 45% Unlimited time off.
    • 45% College loan repayment.
    • 35% Tuition Reimbursement or Continuing Education.

EMPLOYEE vs. EMPLOYER

Employee – +50% of the three generations top desired benefit is Unlimited Paid Time Off

vs.

Employer – Less than 1% plan on offering Unlimited Paid Time Off as a benefit in the next year

__________

Employee – 40% of Gen X want Childcare as a benefits

vs.

Employer – Only 3% of employers offer Childcare as a benefit

__________

Employee – 45% of Millennials want College Loan Repayment as a benefit

vs.

Employer – Only 14% of employers offer College Loan Repayment as a benefit

__________

Employee – 25% of Baby Boomers want Financial Planning Services as a benefit

vs.

Employer – 22% of employers offer Financial Planning Services

Benefits trends are constantly evolving, and it is apparent that the most successful companies are forward thinking when it comes to their offerings and improving employee satisfaction. Formulating a benefits program that appeals to a diverse audience and provides incentive to complete quality work can give any business a competitive edge. In addition, the investment in your employees can reduce turnover and as a result, reduce onboarding expenses that can ultimately be more expensive than a benefits package.

As a new generation enters the workforce, it’s impossible to anticipate the new expectations they will create and set in their work environments. No matter what new insights and ideas they bring to the HR landscape, by understanding historical trends, employers can anticipate continued change in employee expectations surrounding technology, social norms, and innovation.

To read the complete report on the findings from our survey please click here.