HR Industry Brief

Trilogy Health Services, a Louisville, KY, post-acute and long-term care organization recognized as a Best Place to Work in 2020, has some solid advice about building a strong workforce:

• Have extensive education assistance programs to attract and retain talent.
• Find creative ways to support employees. For instance, Trilogy gives hourly workers a wage increases every quarter instead of annually.
• Focus on the future. Think about what markets you will be pursuing/serving in the future and what types and numbers of workers you will need.
• Invest in people long-term. Empower your workers to take responsibility for their professional and financial futures.

Work is changing, and new technologies and trends are popping up all the time. Consider these top trends to keep pace with change in 2020:

• Increased focus on employee wellbeing. A growing awareness of the detrimental impact of burnout, stress, and anxiety has lead employers to prioritize these issues; and they’re targeting preventive strategies, such as the practice of mindfulness.
• Workers are demanding flexibility. From four-day workweeks and remote employment to job-sharing and flex hours, the traditional 9-5 model is a deal breaker for many employees, especially millennials and gen Zers.
• Gen Z is coming on strong. Gen Zers are entering the workforce, and they are changing the way we train and treat employees. For instance, gen Zers prefer to learn through YouTube tutorials and videos, and they are social media natives who have different a outlook on work and life.
• Watch for 5G to speed up the workplace.
• Flexibility not … [Read more...] about (12/27) Workplace 2020: Key Trends for the Future of Work

LeadingAge has a new downloadable turnover cost calculator that enables you to accurately determine the cost of losing and replacing workers in your organization. On average, the cost of replacing any employee is 25% of the salary for that position. Among other numbers related to turnover:

• The average turnover for home care agency staff is between 40% and 60%.
• Average nursing home certified nursing assistant (CNA) turnover is between 40% and 70%.
• The minimum cost of replacing a CNA or other direct care worker is about $2,500. This includes costs associated with exit interviews, the use of temporary staff, training, and more.
• Indirect costs are different for each organization, but they average at least $2,000.

According to a new survey, the top non-insurance benefits for U.S. workers are:

• Generous paid time off (40%)
• Flexible/remote work options (30%)
• Paid family leave (22%)
• Gym memberships (21%)
• Fitness/healthy lifestyle incentives (17%)
• Student loan repayment benefits (14%)
• Professional development (13%)

You may be sick of hearing about cybersecurity; but this is a constantly evolving, changing issue that requires ongoing attention. Among the key challenges you can expect to see in 2020 are:

• Business email compromise scams (advanced forms of phishing).
• Unique impersonation-based attacks (such as deepfake audio messages imitating company executives).
• Shortage of security professionals.

While companies often create a culture and expect employees to adapt, they should consider ensuring their culture matches the kind of employees they want to attract and keep. A few steps are in order:

• Stay current. Know what benefits and workplace offerings workers most want. Be able to relate to job seekers and tap into their needs and interests during interviews.
• Offer new challenges to workers. Increasingly, employees want continuous learning and new opportunities.
• Discuss career paths. Find out what each employee aspires to be or do.
• Encourage bonds between workers.
• Provide meaningful work.

Consider these leadership tips from women execs who broke through the glass ceiling:

• Don’t always follow advice; look inside yourself for answers.
• Make to-do lists, and check off each item as it’s done.
• Push yourself out of your comfort zone.
• Be introspective, and identify one thing that makes you feel energized, talented, and worthwhile.
• Embrace your leadership role and learn all you possibly can to become invaluable.
• Know who you are and who (and where) you came from. Don’t forget your roots.
• Ask yourself, “What am I waiting for?”
• Put the right people in the right positions.
• Don’t be afraid of change.
• Know your numbers.

Employers will be looking to shake things up in the new year to attract and keep good people. Here are a few trends you’re likely to see:

• More organizations are going to move to flexible schedules, such as four-day work weeks.
• Health plan deductibles may be decreasing to meet employees’ needs.
• High profile social issues will be on the company agenda due to employee demands and expectations.
• Variable pay, such as bonuses, will play a bigger role in compensation.
• Artificial intelligence (AI), not bosses, will determine salaries.
• Organizations will address the opioid addiction via external resources such as foundations and treatment centers.
• The gig economy will slow down, and employers will focus more on employed workforces.

Popular benefits are a key way to keep good employees. Consider some of these voluntary benefits you can offer immediately that will make your employees love their jobs:

• Shortened workweek (such as a six-hour workday or a four-day week with longer daily hours).
• Fitness and wellness initiatives. An onsite gym and/or fitness classes, free or inexpensive access to massage therapy professionals or chiropractors, and spa discounts are popular options.
• Paid vacation/time off. For instance, one company gives employees a four-week paid vacation for every five years they’re with the company.
• Generous maternity and paternity leave.
• Student loan benefits, such as matched payment programs.

According to a new report, musculoskeletal conditions such as arthritis and back pain have the greatest impact on organizations’ overall healthcare costs. Among other findings:

• After musculoskeletal issues, the top five conditions impacting costs are cancer, diabetes, cardiovascular disease, and high blood pressure.
• Contributing to expenses are advancements in medical treatment (such as joint replacement surgery) and the rising costs of prescription drugs.
• Health benefit costs overall are expected to rise nearly 4% in 2020.