Here are three of the top issues facing manufacturing business owners and human resource professionals and E2E's best practices to manage them.
Increasing cost of employee healthcare benefits
From a business budget management perspective, the cost of employee benefits is increasingly difficult to control. The best practice to finding affordable employee benefits and managing the cost requires a two fold approach. First, evaluate what is currently offered and decide what’s necessary and appropriate for your employees and their families. You may find that certain benefits are not being used and others are more attractive to offer. Next, find an employee benefit partner who has access to a wide selection of carriers to receive a comprehensive and comparative report to make an informed decision.
Recruiting and retaining good employees
Despite improved manufacturing job perceptions, above average income opportunities and expanded STEM educational programs, there remains a shortage of skilled workers to fill the growing employment gaps.
Whether a manufacturer has internal or outsourced professionals looking for potential hires, it’s best practice for them to be able to communicate job expectations and skills required as well as company’s culture and employee benefits program. A positive employee experience includes feeling their personal needs and goals are supported. Good employees will often remain with a company when they feel recognized for their work and contributions, but also when their families have access to affordable healthcare. Before and during Open Enrollment are critical times for effective communication and should be well supported by your employee benefits provider.
An important best practice for human resource managers is to have reliable and easy-to- use employee benefit and payroll technology working for them so they can focus on other manufacturing priorities like operational safety, workforce development and training to support the employee experience. Offering 24/7 on-demand employee access to benefits and in network providers is yet another best practice to attract, recruit and retain good employees.
Ongoing ACA, DOL and other compliance changes and updates
Getting blindsided can be very costly in terms of time and money. With constantly changing and burdensome ERISA, ACA, IRS, EEOC and other regulations, it’s easy for business owners and professionals managing human resource related issues to not fully understand or even overlook absurd – but important – rules that could cost your company thousands of dollars.
Where do you get your information regarding the myriad of human resource management and payroll compliance mandates? Are you receiving information proactively or have you experienced a penalty notice retroactively? The fines and penalties for non-compliance are often costly.
The best practice is a proactive approach so you can save your company from the stress and cost of non-compliance. Be sure to get our free white paper to help you identify and better manage these compliance issues.
Contact an E2E Expert if you need help with any or all of these challenges.