Healthcare

Employee Benefit Packages: The Permanent Employee’s Guide

Madison Schacht

Manager of Talent Acquisition

October 28, 2024

Most of us know the exciting and nerve-wracking experience of landing a new job. From acing the interview to negotiating your salary, there are many things to consider during the job search process.

One area of the job search process that is often overlooked, but equally important, are your employee benefits.

Today, we’re here to help you understand the world of benefits as a permanent employee so you can maximize them to your advantage.

The Benefits You Should Ask About

Did you know that a study by SHRM found that 60% of employees feel their benefits are a large contributor to their overall job satisfaction?

Understanding the benefits offered by a potential employer is not only key to maximizing your total compensation package, but can also lead to increased job satisfaction.

Let’s explore the essential benefits you should be asking about:

Health Insurance

Having health insurance is like having a safety net for unexpected medical expenses. Don’t be shy about asking your potential employer (at the right time, of course) about their health insurance coverage. Dive into the details about premiums, coverage options, and any limitations that may affect your peace of mind.

You know the saying, “Health is wealth?” Well, when you understand your health insurance benefits, you’re not only protecting your physical well-being – you’re also preserving your financial stability.

By knowing the extent of your coverage and potential out-of-pocket expenses, you can feel confident and prepared for any health-related situations life throws at you.

401K and Employer Matching

Planning for the future is important, and a 401K plays a role in that.

What’s a 401K? Think of it as a savings account specifically for retirement that is provided by your employer. You put a portion of your paycheck into this account, and sometimes your employer will add extra money to help it grow – that’s what we call the “employer match.”

A 401K and employer matching can help you build a solid financial foundation. Ask about the company’s 401K and contribution policy, and any other retirement benefits they offer so you don’t leave any money on the table.

Paid Time Off

Work-life balance is essential to your well-being, and paid time off (PTO) often helps people achieve work-life balance.

To maximize your PTO so it works for your personal needs and preferences, it’s crucial to understand how it accrues, any potential restrictions, and whether it rolls over from year to year.

By familiarizing yourself with these details, you can plan to relax and recharge and get paid while doing it.

Flexible Scheduling

In the year 2024, the technology to allow for flexible scheduling is available – and it’s a perk that can make or break a new role for many people.

In a study by Shiftboard, 51% of Millennial workers and 55% of Gen Z individuals value having the option of flexible scheduling.

It’s a benefit known to transform job satisfaction, increase mental wellbeing, and even improve productivity. Whether it’s being able to start and end your workday at times that work best for you, having the option to work from the comfort of your own home, or having access to resources that promote a healthier lifestyle, understanding your flex scheduling benefits – and advocating for them – is important.

Things to Consider As You Evaluate Your Benefits

By understanding your benefits, you can gain a clearer picture of what is being offered to you and how it aligns with your personal and professional needs.

Diving deep into what matters to you will not only help you make informed decisions but also empower you to maximize the benefits available to you.

Let’s walk through some key points to consider:

What Matters to You

Take a moment to think about what matters most to you when it comes to your benefits.

Maybe health coverage is your top priority, adding another layer of protection for you and your family when it comes to medical needs. Or perhaps you place a high value on financial perks, like retirement savings options or tuition reimbursement.

Figure out what resonates most with you, and you’ll be better equipped to navigate your benefits and make choices that set you up for success and honor your preferences.

The Hidden Costs Associated with Your Benefits

It’s important to peel back the layers and know the full picture when considering your benefits.

It may not feel glamorous to dive into the details of your deductibles, copays, and any other out-of-pocket expenses, but these hidden costs can affect your financial stability and wellbeing in the long run.

Understanding how it all works helps ensure that the benefits you choose truly enhance your overall financial well-being. Don’t always take what seems shiny and attractive at face value – get down to the nitty-gritty details to make informed decisions that align with your goals.

Long-Term Goals

Look at your benefits package as a support system, a resource that can propel your career development and success forward.

Whether it’s paving the way for further education, aiding in retirement planning, or providing resources for health and wellness, understanding how these benefits can contribute to your journey will help you make the best choices for you.

Questions to Ask to Better Understand Your Benefits

If you’re feeling overwhelmed by the wealth of information surrounding your benefits package, there are a few targeted questions you can begin to understand the complexities and gain clarity on what’s available to you.

Let’s dive into what those pointed questions could look like:

Is there an insurance waiting period?

Be aware that some benefits may have a waiting period before you become eligible. Ask about any waiting periods and when you can expect to start receiving the benefits.

What are your sick time and PTO policies?

Understand how your sick time and PTO policies work, including when PTO begins to accrue, how much you can accrue over time, and any potential restrictions.

Are there any performance-based incentives?

Ask about any incentives or bonuses tied to performance to understand how your efforts can be rewarded beyond your base salary.

Best Practices When Asking About Employee Benefits

It’s assumed you’re curious about the perks that come with a new job or promotion, but it’s important to approach the conversation thoughtfully, so you’re still operating with professionalism and tact.

Let’s dive into the do’s and don’ts when it comes to asking about your benefits and compensation package, so you understand what’s available to you and still build positive rapport with your employer (or potential employer)!

Do Your Research

Take the time to research the company and its benefits before your interview. If the initial benefits information is available on their website or in the job description, use that as a starting point for more in-depth questions during your interview, or as your deciding factor in choosing when to ask your benefits-related questions.

Taking the initiative to research and understand the company in advance can give you a competitive edge and ensure that you approach the topic strategically and confidently.

Wait Until the Final Interview Stage

As you progress through the interview process, it’s crucial to strike a balance when it comes to discussing benefits. While gathering general information about benefits early on is important for your decision-making process, saving the more detailed questions for the final stages of the interview shows your interest in the role – beyond the benefits.

Save your detailed benefit questions for the final interview stages, so you can convey professionalism, attentiveness, and sincere excitement in the job opportunity.

Use Broad Questions to Start the Conversation

Initiating the benefits discussion with a broad question like, “Can you tell me more about the total compensation package offered?” is a strategic approach to gaining more understanding of the benefits available.

This question sets the tone for a conversation that goes beyond just salary figures, and invites the interviewer to dig into each of the job’s perks and benefits. By keeping your initial question broad, you lay the groundwork for a more detailed conversation that can help you make a well-informed decision about the role.

How That’s Good HR Can Help

At That’s Good HR, we understand that the world of employee benefits as a permanent employee can be overwhelming, but it doesn’t have to be.

Our team is here to simplify that process for you! We not only match you with jobs that fit your skills and aspirations, but can also help you understand and negotiate the benefits that matter most to you.

Ready to take control of your job search? Let us help you find a permanent position that checks all the boxes — including the benefits that will keep you happy and healthy! Contact That’s Good HR to get started on your journey to a rewarding career today.

HR Insights

Maximize Happiness in the Workplace: A Guide to Employee Benefits

Greta Cline

Partner, CFO/COO

October 15, 2024

Today, we’re tackling a topic that doesn’t always spark immediate excitement: employee benefit packages.

Navigating the world of benefits can be a daunting task, whether that’s Health Insurance, PTO, a 401K contribution, or a flexible work arrangement.

Regardless of what your team looks like, big or small, remote or in-office, employee benefits deserve your attention, and doing it right can be life-changing for your employees.

Here’s what you need to know:

How + Why Benefits are Life-Changing

People spend a significant chunk of their lives at work, and investing in the health and happiness of your employees is not only the right thing to do – it also produces a ripple effect that can positively impact your entire organization.

Positive Impact on Employee Wellness

When you provide health and wellness benefits, you contribute to the physical and mental well-being of your employees by making sure they can enjoy a healthy lifestyle with fewer financial barriers.

What may look like “just health insurance” to one person, may be someone else’s ability to start family planning, undergo an important medical procedure, or get the professional mental health support they need – all of which can improve someone’s quality of life.

Increased Employee Morale

When employees feel that their employer cares about their growth and well-being, it creates a sense of dedication that often boosts employee morale.

A study by SHRM showed that 92% of employees say their paid time off affects their overall job satisfaction.

Long story short: increased job satisfaction = increased morale.

When you offer a benefits package that truly resonates with your employees, you’re not just supporting the work they do—you’re showing that you value them as people. It’s a win-win, where they feel cared for on a personal level, and that’s the foundation of a great working relationship.

Fair Pay

There’s a reason that most employees want to learn more about your benefits package before accepting a new position. In fact, a 2021 Glassdoor survey found that 60% of people strongly consider the company’s employee benefits before accepting a job offer.

Benefits clearly play a role in the decision-making process. Many professionals have been in the workforce long enough to know the role benefits play in their overall job satisfaction and well-being.

This affirms what we’ve long known: a solid employee benefits package is a key factor in attracting and retaining top talent.

Advantages of Employee Benefits for Organizations

Competitive benefits aren’t just in the best interest of your employees. These benefit packages play a significant role in shaping the overall success and reputation of your entire organization.

Here’s how 👇🏼

Higher Employee Retention Rates

Investing in your employees’ skills and well-being makes them more likely to stay with your company for the long haul.

Providing great benefits helps create an environment where employees feel invested in the success of the company. For example, a survey by United Insurance revealed that 78% of employees were drawn to stay at a company because of their benefits. Not to mention, when an employee leaves your organization, the costs quickly add up between recruitment, onboarding, training, and productivity losses.

In many cases, it can be cheaper to invest in your employee benefits package than it is to lose your top talent to a company that is.

Increased Employee Productivity

When employees have peace of mind knowing their health, financial, and personal needs are taken care of, they are more likely to bring their A-game to the workplace.

Oxford University’s deep dive into happiness and productivity reveals that happy employees are 13% more productive than unhappy employees.

By nurturing employee well-being and happiness, you’re giving your company the chance to achieve the productivity that can drive your business toward growth.

Want to empower your team to bring their best selves to work every day? Give them the tools to do so.

Healthy Workplace Culture

A workplace full of people who have opportunities to be happy and healthy creates an overall positive atmosphere.

And when employees feel valued not just for their work, but for who they are, they’re more likely to foster great teamwork and build positive relationships with their colleagues.

As a result, your workplace culture becomes one where your team feels motivated, connected, and inspired to do their best.

How to Manage Employee Benefits

Making sense of employee benefits can be daunting, but there are a few things you can do to provide better support for your employees and alleviate your mental load.

Understand Your Employees’ Needs

It’s simple really. Talk to your employees to better understand what kind of benefits would be most valuable to them. By tailoring your benefits to the team’s long-term goals and desires, you can be sure that your benefits truly serve their purpose.

Prioritize the Benefits that Matter Most

Of course, health insurance is crucial, but consider expanding your offerings to also include mental health support, wellness programs, or flexible work arrangements. Remember: your benefits don’t have to be costly to be valuable to your team.

Communicate Benefits Effectively

It’s not enough to provide great benefits. It’s good corporate stewardship to make your employees aware of what is available to them. Clearly communicate the full extent of the benefits you offer, how to access them, and the value they provide.

Leave the Employee Benefits to Us

At That’s Good HR, we understand the challenges that come with managing employee benefits. Our team can work with you to find a benefits package that not only meets legal requirements but truly supports your employees.

Make a positive impact on the lives of your employees and the success of your organization. Contact That’s Good HR today to learn more about how we can help.

Staffing

You’ve Heard of the Big Quit, but What’s the Big Reason?

Tiffany Moore

VP, Client Partnerships

January 14, 2022

When the COVID-19 pandemic hit, millions of people lost their jobs or were furloughed. But in the months following, millions more quit their jobs in search of a new situation. You may be an employee considering joining in the “Big Quit,” but what’s your big reason? Our staffing experts at That’s Good HR can help candidates analyze why you are thinking about shifting your career focus… and we can also help employers eliminate retention issues for current employees and hiring barriers for new employees.

Why are you considering the Big Quit?

Whether you lost your job or are choosing to leave, it’s time to think about what is most important to you. In this era of hiring, workers have the option to be more selective. As you apply for new jobs, what do you want most out of your career? Is it flexibility in working hours or the option to work from home? Do you want expanded insurance and benefits, higher compensation or specific perks you couldn’t find in your old position, such as paid training or tuition reimbursement? That’s Good HR will help you evaluate the benefit offerings for the open jobs you are interested in and help you decide which ones fit your needs the best.

Reevaluate why you work

Speaking of family, did you have to adjust your family structure during quarantine? Many parents found themselves watching toddlers with daycares closed or supervising virtual schooling. During this time, some families decided that they were comfortable with one parent working and one caring for children or aging family members. Others realized from that time at home that a career is very important to them.

Beyond family situations and needs, what else forms your “why” for working? Reexamine your lifestyle, mental and physical health and overall life goals. Is it time for a change from full-time to part-time or vice versa? Are you ready to make a move into a brand new career field? Do you want to fall back in love with your current career — or maybe want to look for a new position within your current field? No matter your job search goals, That’s Good HR staffing experts are here to help.

How is the Big Quit impacting employers?

As a part of the Big Quit, we are all likely aware of staffing shortages and how that is impacting day-to-day life. We have a number of open positions to fill for our employer clients, and we are working hard to match the best candidate to each one. However, there is still more that organizations can do to not just hire new employees but retain their current workforce.

Offering more benefits and perks

Our biggest recommendation for our employer clients is to look at your current processes for both hiring and retention, and determine how they can work even better. Eliminating hiring barriers, such as biases against gender, age or resume gaps, will make a huge difference in the candidates you find applying to your open positions.

Offering expanded job perks will also help you gain interest from candidates, such as full-time or hybrid remote work schedules, more wellness resources, mental health plans, child care assistance and stipends for education or setting up a home office. And as you revamp your job perks, don’t forget about your current employees. Revamping your benefits package should not only entice new candidates to apply, but should apply to your entire workforce to show your appreciation for their dedication to the company during these hard times.

Whether you are a candidate looking for a new career or an organization looking to hire new employees, we are all being affected by the Big Quit — and That’s Good HR can help. Let us come alongside whichever side of the search you are on by contacting our office online or at 317-469-4141 today!

Staffing

Are You Taking a Spring Break?

Mary Springer

Partner

March 27, 2019

Many employees across the U.S. are getting ready for Spring Break. Did you know that this time off from work may actually extend your tenure at your job? A recent IBJ infographic noted for every week that employees took off, it extended their stay at their company by eight months. We at TGHR know how important tenure is since our entire client services staff has been with the company for 10 years or more! In addition, as a result of every 10 vacation hours an employee took, their performance review was 8 percent higher.

Vacation is good for the soul as reported by the American Psychological Association in their annual Work and Well-Being Study. Sixty-eight percent of workers claimed they were more positive after returning from taking vacation time and 66 percent claimed to have more energy. This translated to 57 percent of employees feeling more motivated and 58 percent of workers saying they were more productive.

But does everyone use all their vacation time? In 2018 there were 212 million unused vacation days and only 41 percent of US workers said they felt encouraged by their companies to take their vacation. But companies who encouraged their employees to go on a vacation like Spring Break had employees that felt more valued and who were satisfied with their job. One of the most important statistics? The employees who worked at places who encouraged taking vacation said they were likely to recommend their employer as a good place to work, 81 percent versus 39 percent.

But having workers out on vacation can cause added stress on a company, but there’s no need to fret. That’s Good HR places people on temporary assignments for as short as one day. If you have someone headed out on Spring Break or if you are prepping for a summer vacation give us a call. We are ready to help so vacation can be stress-free for you and your employees!

Taxes

Tax Changes are in Effect

Greta Cline

Partner, CFO/COO

January 14, 2019

Please note, this content was written for informational purposes only, consult your own tax or accounting professional before filing your taxes.

Our tax blog summarizing the Tax Cuts and Jobs Act was one of the most read blogs of 2018. The new laws that were passed in late 2017, will go into effect with your 2018 tax return that is due April 15,2019. As a reminder, one thing that will make an impact is the change in the dollar amounts and percentages of the 7 different tax brackets. Here’s the breakdown so you can see which bracket you fall into.

A new W-4 form was also released in February of 2018. A W-4, simply put, is the form you fill out when you start a new job. The W-4 determines your withholding from your paycheck. You can update this at any time even if you haven’t recently changed jobs. A copy of this form can be found here. Give your updated form to your payroll department. They will ensure the changes are recorded properly in your payroll record.

Next, there are new amounts for a standard deduction. As a taxpayer you can chose to take the standard deduction or itemize your deductions. For a single filer (or if you are married but filing separately), the deduction has increased from $6,350 to $12,000. For Head of Household, the deduction has increased from $9,350 to $18,000. For married couples, the standard deduction has increased from $12,700 to $24,000.

Normally about 30% of taxpayers file their returns utilizing itemized deductions. Because of the increase in the standard deduction amounts, be sure to compare your total itemized amounts to the new standard deduction. It could make sense to claim the standard deduction this year.

Also, educate yourself on the itemized deductions that have new limits, or if you are no longer eligible to deduct that item at all. A $10,000 limit was added to SALT (State and Local Tax itemized deduction). Property taxes are local taxes that would be included in the new limit. Some common deductions – like your tax preparer fees – are no longer deductible starting with this filing. Other deductions that have gone by the wayside include un-reimbursed employee costs, moving expenses, employer-subsidized parking, loses due to theft, and union dues.

This is a high-level glimpse of some of the inaugural changes our 2018 tax returns will experience. We hope this inspires you to meet with your own tax/accounting professional before filing your 2018 return.

Healthcare

What is the #1 Benefit for Job Seekers?

Greta Cline

Partner, CFO/COO

October 3, 2018

Unemployment has continued to be at an all-time low, which means the labor market is tight. Finding qualified candidates can be a challenge. It’s a simple case of supply and demand, less people looking for work means quality candidates have more options. There is one key benefit that top employees look for when considering a new opportunity. Good news – it’s a benefit offered by That’s Good HR so you don’t have to worry about providing it to temporary or contract employees.

According to a recent study conducted by Essential Staff Care (ESC), availability of affordable, usable health benefits is a core indicator of employee interest in a position, attitude and longevity on the job. In addition, 87% of temporary employees say medical benefits are their most desired perk when job searching. Employees enrolled in the healthcare insurance plan that we offer are also more likely to stay on the job almost 4 weeks longer than those who do not have this valuable option.

More than half of Americans hold less than $1,000 in savings, meaning that one illness or injury could result in significant financial hardship. Having the option to enroll in TGHR’s health insurance option helps alleviate financial stress and gives temporary employees an affordable healthcare option, with no added expense to our client companies.

Another benefit to our candidates? The plan rates – which are paid weekly – have remained unchanged since 2010. This is just one way we can show we are committed to our candidates and prove that we want to attract the highest caliber employees for our clients.

Seasonal

Did You Take a Summer Vacation?

Mary Springer

Partner

August 16, 2018

As the dog days of summer begin to wrap up, more and more vacation days will go unused. According to a study conducted by Glassdoor, the average employee has only taken about half of their eligible vacation in the past 12 months. This could be because more Americans (66 percent) report working on vacation more than three years ago.

The average number of vacation days employees take has been steadily declining over the years. Thirty years ago, the average was around 20 days, but that has dwindled to just 16 days in recent years. The study also indicated that in 2016, 662 million vacation days went unused and if those had been taken, it would have contributed $236 billion in spending for our economy.

The study also revealed that forfeiting vacation time can have an impact on an employee’s performance, proving that a little R&R benefits both the employee and company. In addition, 47 percent felt shame at work for taking their vacation. There’s a simple solution to combat this shame. Book a temporary employee to cover during your worker’s vacation time. That’s Good HR has temps ready to go at a moment’s notice. You keep productivity up, your employee returns refreshed and guilt free – it’s a win-win.

So how do you get started? Easy – call us and describe your employee’s responsibilities. We’ll send you resumes to review of available temporary employees and you’ll be meeting them in no time. Then everyone can sit back, relax and take a well-deserved vacation without worrying about the company’s bottom line. Take advantage of summer before it’s too late!

About TGHR

What Do Employees Value?

Mary Springer

Partner

May 10, 2018

Recently, That’s Good HR was recognized as one of the Best Places to Work in Indiana. In fact, in the small business category That’s Good HR took home the fourth-place spot. To say we were thrilled to be in the Top 5 the first time we applied for the award is an understatement. But we don’t share our accolade to brag, but rather to share how to build a corporate culture that matters to your employees.

That’s where it starts – with your employees. And the number one thing you can do to make a difference in your corporate culture is to ask your employees what matters to them. Multiple industry studies cite better health/dental/vision insurance as the number one benefit an employee looks at when choosing a job. Can you make changes to your health benefit package that would help your employees?

Or perhaps your employees would rather a benefit that helps them achieve a better work-life balance like flexible hours or the ability to work remotely. Once again, you won’t know until you ask them. Is unlimited vacation time the answer? According to the Society of Human Resources (SHRM) only 1 – 2% of companies offer unlimited vacation time, therefore this may be a way to stand out from other companies in your industry.

Other benefits that employees value include tuition assistance, free/paid gym membership, employee outings such as lunches and team building events. For us at That’s Good HR, there’s a combination of benefits that our employees value – the key is finding out what works for your company. One of the advantages of participating in a program like the Best Places to Work, is participating companies, no matter what their rank, get a detailed report of what their employees value and what areas need some work. This can provide company leadership with a road map for future policies and updates.

Want to know more about our company culture and how we can help you find great employees who will love working for you? Contact us today, we are happy to share our experience with you.

TGHR News

Employee on unexpected leave…now what?

Tiffany Moore

VP, Client Partnerships

March 29, 2018

Having employees out, even it’s just for one day, can lead to undue stress on other employees. Not to mention, leave work unfinished and business unattended. Research shows that more than 10% of the workforce is on a qualified FMLA leave at any given time. Since it was signed into law more than two decades ago, 100 million employees have used this benefit.

There’s a simple solution if you find yourself with an employee unexpectedly out. Hire a temp through TGHR! Using temporary employees is a common solution. According to the American Staffing Association (ASA), staffing companies nationwide employed an average of 3.19 million temporary and contract workers per week in 2017. This is the third highest number of temp employees since right before the recession (2006). Temporary employees worked an average assignment of 10.7 weeks in 2017.

Temporary workers can work for as little as one day to cover your front desk or for a few months to run your payroll due to an extended leave of absence. At That’s Good HR, we’ve helped provide temporary workers for a one-day absence in a mail room or for a receptionist to cover a front desk for a day. We have provided temporary accountants for one week to three months and more. If you need HR support, a medical verification specialist or a customer service representative we have temps for those positions too.

Didn’t plan ahead? Not a problem. That’s why we are interviewing people daily so we can be ready for your call. We see this all the time and are happy to help in these times of need. Need a temp? Call us today!

TGHR News

Our Key to Success = Company Culture

Mary Springer

Partner

March 5, 2018

People before profits. That’s our company motto. Whether we’re placing a temporary employee out in the workforce, catering to one of our clients, or talking to our internal staff, we put people first.

This October That’s Good HR will celebrate 20 years in business and over the years That’s Good HR has never lost focus on what matters most – people. Ten out of our 15 employees have been at That’s Good HR for 5+ years and four team members can celebrate 10+ years with the company.

What’s our secret, you ask? Cultivating a positive company culture. We’ve never bragged about this before, but recently were honored as a Best Places to Work in Indiana. How did we achieve this honor? By creating a supportive, family-friendly environment by providing flexible schedules, including part-time options and work-from-home when needed options. TGHR employees like to come in the office too for employee appreciation lunches, pop-up smoothie bars, chili cook-offs and more.

We are always looking for innovative ways to appreciate our employees. So last year, after reading an insightful article, we introduced a new concept for TGHR – bonus days. Each employee, full and part-time employee alike, receives one bonus day per quarter. This day is designed to be used to do something for yourself like take time to pamper yourself, go shopping or take a long weekend. Bonus days are scattered through the quarter ensuring that not the entire office is off at once.

TGHR does many standard practices for employees, including offering great health benefits available from your first day of work, to having an employee of the quarter, complete with a comically large trophy, and a swinging holiday party celebrated in January with spouses.

Twenty years ago, That’s Good HR was founded out of a desire to do staffing better. This includes treating people better too – our candidates, our clients and our internal employees. Want to work with us and see why we’re one of the Best Places to Work in Indiana? Reach out and our team would be happy to show you.