Benepass

Fringe benefits have been around for a long time. 🕰️ The concept of fringe benefits developed during the Second World War due to government-imposed wage controls at the time. Forced to cut back on employee hours and pay, employers sought alternative ways to attract and retain workers by offering benefits like paid leave and health coverage. In today’s work landscape, fringe benefits now include remote work options, wellness programs, and tuition reimbursement, reflecting the changing priorities and lifestyles of the modern employee. Our blog digs into 26 types of fringe benefits, how they work, and the advantages of offering these benefits to your employees. Read up here: https://hubs.li/Q02FV4K90 #FringeBenefits #EmployeeBenefits #EmployeeExperience #CompanyCulture

Lifestyle spending accounts are rising in popularity as more companies catch on to the fact that top talent flocks to organizations that prioritize employee well-being. But as great as these accounts are, they’re still somewhat of the new kid on the block. If you’re a benefits leader trying to implement an LSA, you'll probably be asked about the ROI and advantages of investing in this employee benefit. 📈 Our latest blog dives into the hard and soft ROI of lifestyle spending accounts, complete with calculators you can use to understand your company's unique ROI. Read the full blog here to start making a case for investing in an LSA: https://hubs.li/Q02FhBff0 #LifestyleSpendingAccounts #ROI #EmployeeBenefits #EmployeeExperience

So you're considering offering commuter benefits to your employees—the next question is, do you offer a pre-tax or post-tax program? 🤔 Pre-tax commuter benefits allow employees to allocate pre-tax dollars for commuting costs. For 2024, the limit is $315 per month for commuter highway vehicle transportation and transit passes and a separate $315 per month for qualified parking. Pre-tax benefits are beneficial because they allow both employees and employers to save on payroll taxes. Post-tax benefits, on the other hand, offer a bit more flexibility. Although you'll forgo the tax savings, offering post-tax commuter benefits to your employees allows you to cover a wider range of commuting expenses, including gas, tolls, car insurance, ridesharing services, biking, and more. Our blog digs into the pros and cons of each approach so you can make an informed decision. Read it here: https://hubs.li/Q02F9CK20 #CommuterBenefits #RTO #PretaxBenefits #EmployeeBenefits

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As an admin, a question you might hear often from employees is, "What can I spend my benefits on?" 🤔 Our latest product launch is designed to answer this question and make it easier for employees to understand how they can use their benefits. Every Benepass benefit has a set of eligibility categories that determine spending, and this launch makes that information more readily available—both admins and employees will now see a section within the app called "What can I buy?" that shows eligibility information and spending examples. We're excited to launch this update and make it easier for employees to engage with their benefits. Let me know your thoughts in the comments! #Product #Launch #EmployeeBenefits

Curious about all the types of employee stipends available to your organization? 🤔 We often hear from HR and benefits leaders who are interested in expanding their stipend offerings but are overwhelmed by all the options. We wrote a new comprehensive guide to take the guesswork out of the equation and help you design competitive, compliant stipend programs that engage your employees. The guide provides: - An overview of employee stipends and their taxability - The benefits of offering employee stipends - A list of stipend ideas to inspire you - Taxability status of individual types of stipends - Common eligible spending criteria - Tips and best practices for designing your stipend - 6 steps to launching an employee stipend program Download the guide today to get started on building competitive stipend programs! Get the link in the comments. 👇 #Stipends #EmployeeBenefits #EmployeeExperience #EmployeeEngagement

Gallup research reveals that employee engagement is an ongoing problem that companies want and need to fix. In 2023, only 23% of employees were engaged and thriving at work. So what can you do to improve engagement at your organization? Here are 6 strategies to try: 1. Keep a pulse on employee sentiment: Start with some basic benchmarking. Use employee engagement surveys, exit and stay interviews, and skip-level meetings to get a sense of employee sentiment. 2. Recognize your employees' contributions: 81.9% of employees confirm that recognition impacts their engagement. Recognition programs, regular shoutouts, and employee awards can help boost engagement. 3. Address employee feedback: Engagement improves when employees feel like they are heard and listened to. Give employees a voice by performing regular surveys, approach these insights with curiosity, and act on the results. 4. Build a community your employees never want to leave: Create a sense of community within your organization. Team-building activities, employee resource groups, and mentorship programs are a few examples of initiatives that strengthen community and drive higher engagement. 5. Empower your employees with autonomy: There’s nothing worse than feeling micromanaged as an employee, so it’s critical to train managers to give employees more autonomy wherever they’re based. 6. Create an inclusive engagement strategy: An inclusive community prioritizes fairness across the entire company. Ensure all employees are treated equitably regardless of their role and implement policies and practices that promote fairness within and across teams. Read our full blog on driving employee engagement at the link in the comments. 👇 #EmployeeEngagement #Benefits #EmployeeExperience

Since the pandemic, each year has offered a different theme in talent acquisition. 2021 was the year of the Great Resignation, 2022 brought in a wave of diversity and inclusion initiatives, and 2023 saw the rise of AI. What have been the most pressing themes of 2024? With the latest data and expert insights, we collected a list of 10 current trends in talent acquisition. Recognizing and understanding these latest recruitment themes can give your organization a serious edge in attracting and retaining top talent. Read the full blog here: https://hubs.li/Q02CJnrL0 #TalentAcquisition #BenefitsTrends #Recruitment #EmployeeRetention #HumanResources

🚨 Product launch alert 🚨 We know that admins are extremely invested in data that shows how employees are using their benefits. This data helps them measure the success of their programs and demonstrates the value of their programs to leadership. Our latest launch makes it easier for admins to get this essential data. We've redesigned the Admin Dashboard homepage to show three charts: year-to-date engagement, previous month engagement, and year-to-date utilization. These charts link to new engagement and utilization reports if admins want to dig into the raw data. We're excited to launch this update to admins and help them easily access the data they need to monitor their programs and track ROI! Let me know your thoughts in the comments. 👇 #Product #Launch #Data #EmployeeBenefits

Mark your calendars 🗓️ We're launching our latest benchmarking report soon and want to give you an exclusive preview of this year's data! We're hosting two exciting webinars on June 25 and June 26 for benefit consultants and benefits and HR leaders to dig into: ✅ Trends in pre-tax and post-tax benefits across companies of various sizes and industries ✅ How companies of all sizes and industries are designing lifestyle spending accounts (LSAs) ✅ Engagement and utilization insights for various types of pre-tax and post-tax benefits Sign up at the links in the comments. 👇