With the new year upon us, companies of all sizes need to prepare for difficult challenges in 2019. Among the most pressing issues employers face in the coming year are:
1. Healthcare Costs: In a survey of top employer concerns for 2019 conducted by Associated Industries of Massachusetts (AIM), 74% of employers noted the cost of healthcare as their biggest challenge for 2019. While good health insurance is critical to attract and retain talent, proper plan design can help lower expenses. Beyond high-deductible plans coupled with a health savings account, new approaches to controlling costs are growing in popularity like virtual care options.
2. Availability of Workforce: With low unemployment, attracting employees is troubling for many businesses. In fact, multiple reports state that over 60% of businesses have difficulty finding quality applicants. One way to address the shortage of workers is to create a better applicant experience throughout the process by leveraging tools like AI, social media and mobile applications. And be sure to offer the benefits employees want. Download the SHRM survey results to see the top benefits today.
3. Regulatory Issues: Administering employee benefits is a major challenge for businesses who must remain compliant with federal, state and local laws and regulations affecting employers and employees. To stay in compliance, employers should continually monitor new and existing laws, understand which ones apply to their organization, and determine how to best communicate to and train the workforce to meet the requirements. Download our list of required notices by company size.
4. Family and Medical Leave: In an XpertHR survey, 47% of respondents cited challenges with tracking and complying with rapidly changing leave laws across states and 43% reported the administrative burden of managing leave a top problem. Organizations can ease the process by determining the laws that apply to them, communicating rights to employees, and training managers on how to properly schedule and document leaves.
5. Employee Marijuana Use: Employers need to maintain a safe and productive workforce. But with medical and/or recreational marijuana legal in many states (check out our map of states that have legalized the drug.), it can be challenging. To help promote a drug-free workplace, companies should craft policies about the use and possession of marijuana, clearly outlining expectations and consequences. And offer support for those struggling with abuse.
Complete Payroll Solutions can help you prepare for what’s next. Contact us at 888-865-4470.