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BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

Leading Trends in Prescription Plan Management

It’s no secret that healthcare costs are on the rise. In fact, they have consistently risen over the last several years, with employee benefits comprising nearly 1/3 of total employee compensation-spending, according to the U.S. Department of Labor. In this blog post, we take a deep dive into the 2019 Drug Trend Report to offer insight into the cost of prescription drugs in today’s market.

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The 5- Part Guide to Starting Your Upskilling Initiative

In my last blog post, I introduced the topic of upskilling and how it could benefit your business and your employees. In case you missed it, upskilling is providing employees the opportunity to learn new skills to improve their current work performance while preparing them for projected future needs of your company.

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The Ins & Outs of Discussing Health Benefits in the Recruiting Process

Your potential employees consider several things before they decide to accept your employment offer. Gone are the days of simply evaluating the dollar amount of an annual salary offer to decide whether or not a company is right for one’s career path. In order to thrive in today’s highly competitive job market, it’s important that your company offer robust health and wellness benefits.

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5 Wellness Program Perks Every Business Owner Should Know

Wellness programs started as a perk for large corporations and have since become an attractive employee benefit for businesses of all sizes. Implementing and supporting a corporate wellness program is one way that many businesses are trying to build a culture of health and fitness for their employees and their bottom line.

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Improving Your Employees' Experience Without Breaking the Bank

Though trends often come and go, cost-saving movements tend to gain momentum and stick around—particularly for businesses. One area frequently targeted for savings by employers is employee benefits. It’s easy to see why companies are trying to reduce costs: according to the U.S. Department of Labor, employee benefits account for about 1/3 of total spending on employee compensation.

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Controlling Healthcare Costs Through Transparency and Open Communication

It’s no secret that healthcare costs are on the rise. In fact, they have consistently risen over the last several years, with employee benefits comprising nearly 1/3 of total employee compensation-spending, according to the U.S. Department of Labor.

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The Benefits of Understanding Your Workforce

As a business leader, you have the power to support your employees in their quest for better health by implementing some proven methods that promote healthier employees, which means lower healthcare costs, less absenteeism, and higher productivity.

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[Case Study] Hill Country Pain Associates

Laura Paredez, Director of Business Services for Hill Country Pain Associates (HCPA), manages the day-to-day operations and activities, and ensures that the business is run financially sound. In her role, Laura oversees all matters from vendor management to payroll administration. With a practice of 27 full-time employees and one part-time employee, HCPA brings with it its own set of employee considerations, of which by no means falls short of HR-related inquiries.

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5 Steps to an Effective Benefits Communication Program

Offering your employees competitive health benefits is only half the battle. After you’ve shopped around to find a plan that works for your business, your employees, and your budget, the next obstacle you face is effectively communicating the plan benefits to your employee base. It can be a time-consuming task so we’ve compiled a list of helpful tips and best practices to help you streamline the success of your benefits communication program.

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Make Financial Education Part of Your Employee Wellness Plan

As you probably know, one of the most valuable and popular benefits you can offer employees is a company-sponsored retirement plan. Assuming you provide your employees with the opportunity to save for their future through a corporate retirement plan, there’s just one problem: according to the Pension Rights Center, only about half of American workers are participating in an employer-sponsored retirement plan. Unfortunately, many U.S. workers feel so overwhelmed by existing debt, bills, and household financial obligations that they are unable to find funds to save in their company’s retirement plan.

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