Benefit and Program Benchmarking
Trying to do some benchmarking of my own surrounding the following topics:
- Phased Retirement Program
- Returnship Program (internship program for individuals who are returning to the work force after 2+ years hiatus)
- Health and Wellness programs (i.e. EAP, app services, initiatives, etc.)
- Bereavement days (i.e. amounts, who they apply to, etc.)
- Paid CARE Leave (1-2 weeks paid to take care of family)
- Care.com Partnership
I have a meeting on the topics above and want to make sure I have as much information/data as possible. If anyone has additional resources that they have used in the past to benchmark, I'd love to hear about them as well :)
Any insights are greatly appreciated! Have a wonderful day everyone!
Amanda - I'm curious to see the feedback on these topics as well. Especially the leave and wellness items.
We consider phased retirement on a case-by-case basis. We want to retain institutional knowledge and do our best to have our team members have a "red carpet out." We don't have specifics on a broader program at this time, but I see the value in this.
We offer 3 bereavement days in general. We aren't nearly as stringent as to "who" they apply to because a loss of any person has a direct impact on a team member's wellbeing. We're willing to be flexible in this as well. I believe in individual HR wherever possible.
I can't wait to hear how the meeting went and what topics striked the most interest.
We have EAP for our employees. Our EAP sends out monthly newsletters with tips, articles and free webinars. We have hosted wellness days but those have had very low attendance. Our employees have prefered receiving vouchers for flu shot clinics, gym trials and discounts instead.
As for bereavement, we do have a specific list of "who" it can be used for but it's far more extensive than the employees are allowed to use sick days to cover this time. This allows a bit more flexibility for the employee and opens the dialogue with their supervisor on what their specific needs are. We've had employees take one day and some have asked for weeks and allowed it.
Amanda, I can provide info on Health & Wellness - specifically EAP and app services as well as bereavement days. For bereavement, we provide up to 5 days paid for any employee (no length of service required) to attend and/or plan the services. Thereafter, it is the discretion of their manager and workload if they could have more time off - generally, this would be paid as well. Think spouse death, that could take longer to get things settled than a parent for ex. On the EAP side, we joined with Aetna Resources for Living and have found it to be a great program. Our employees can talk with a licensed counselor for up to 8 separate issues and I don't believe there is any cap as to visits within one category. That was one huge benefit and the overall cost per person was not bad at all. They also offer legal help, financial and budgeting assistance, in relation to counseling services. There is also a discount program available for all sorts of different items. www.resourcesforliving.com
Happy to chat if you'd like, Happy Friday and good luck!