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HR Strategies Perks Program

When was the last time you took a look at our Perks Program page? We have all of the most exciting vendors in Atlanta! Especially with Summer coming up, check it out today to see all of the savings and discounts available to HR Strategies clients.

Perks Program Information!

Perks Program!

To gain access to these great discounts, contact our HR Strategies Perks Program representative by calling 770-339-0000 and asking about Perks. We will send you information on how to access the Perks Program from our website!

Today is World Mental Health Day

World Mental Health Day is observed on October 10th every year, with the overall objective of raising awareness of mental health issues around the world and mobilizing efforts in support of mental health.

Studies show that 20% of employees have mental health or substance abuse problems at any given time. Troubled employees are absent 2 to 4 times more, and are at least 20% less productive than the average worker. In fact, a study published recently in the Journal of the American Medical Association estimated that the cost of lost productivity to only one disorder, major depression, is over $31 billion annually.

EAPs, through prevention and early intervention services, are a proven, cost effective solution to many of the problems.

HR Strategies is proud to offer the Employee Assistance Programs of EAP Consultants for free to all of our Client Employee’s and their immediate family members.EAP Logo

In regards to mental health, EAP Consultants, LLC offers in-person and telephone assessment, counseling, referral, monitoring, and follow-up in our private offices.

Assistance is available for a wide range of personal issues including:

  • Stress
  • Marital & Family Problems
  • Work Related Difficulties
  • Emotional Problems
  • Substance Abuse
  • Psychiatric Disorders
  • Relationship Difficulties
  • Eating Disorders
  • Medical Problems
  • Life Transitions
  • Crisis
  • Grief and Loss

EAP Consultants, LLC network of clinicians includes:

  • Licensed Psychologists
  • Licensed Professional Counselors
  • Licensed Marriage & Family Counselors
  • Licensed Clinical Social Workers
  • Certified Addiction Counselors
  • Certified Employee Assistance Professionals

Clinician Qualifications

EAP Consultants, LLC carefully selects, screens and oversees a network of clinicians to ensure the highest level of service. Their clinicians are licensed/certified, have a masters or doctorate in the mental health field, and at least three years of post-graduate practice, including EAP experience. Many have specialized expertise and training allowing them to better serve participants. The network clinicians are consistently rated as good to excellent on our participant surveys.

To find out more contact our benefits department at 770-339-0000; or visit EAP Consultants on the web at http://www.eapconsultants.com

Pictures from Our December 13, 2012 Training Session

We hold complimentary quarterly trainings for all of our clients! Interested in attending the next one? Call or click today for a Free Needs Analysis! 770.330.0000 Become a client and start enjoying all of the excellent benefits HR Strategies’ clients receive!

The Office Witch

The Office Witch, or bully, has become more prevalent as bullying overall has increased in our society.

The relationship between employees plays an important part in the life and fate of not only those employees but also in your company as a whole. When employees are subjected to an office witch and thus do not enjoy healthy working relationships; problems arise, productivity decreases, and retention becomes a major problem.

It is important for businesses to have a policy in place for dealing with the Witch before she/he brews too much trouble.  The article “How to Manage an Office Bully”( http://www.inc.com/guides/2010/06/manage-an-office-bully.html) offers some advice on what you need to know if you have a bully in your workplace.

HR Strategies is here to help you with setting anti-bullying, discrimination, and harassment policies; as well as to help guide you through conflict resolution with employee relations.

The Importance of Communication in 401(k) Offerings

We have discussed 401(k) plans in the past, either by simply mentioning retirement planning in passing or dedicating full posts to the subject. If you are a client or a follower of this blog, you know that HR Strategies offers 401(k) programs, retirement planning, college financial planning, and many other ways for you and your employees to save money.

Recently, an article came out by Stephen Miller concerning 401(k) matching. Miller is an online editor/manager for SHRM, the Society for Human Resource Management. The article, entitled,401(k) Match: ‘Thresholds’ Drive Participation More than Rates: A sampling of the wide variety of matching formulas”, discusses the importance of employer-to-employee communication in regards to choosing a 401(k) plan matching formula. Miller draws from a July 2012 report by Brigitte C. Madrian, the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School of Government. Her findings show that changing matching formulas can result in higher savings for employees, while keeping the employer contribution the same. Here is a basic scenario using two example formulas from the article:

Employee A and Employee B earn the same yearly salary: $100. Here are the two match formulas they have to choose from:

Employee A

Employee B

50% of the first 6% of Salary

25% of the first 12% of Salary

EE Contribution/Quarter=$6

EE Contribution/Quarter=$12

Remaining Yearly Salary=$94

Remaining Yearly Salary=$88

Employee A sees the higher match percentage and goes with the 50% of the first 6% of salary. Employee B does a few equations, and decides to go with the 25% of the first 12% of salary.

50% of the first 6% of Salary

25% of the first 12% of Salary

50% x (6% of $100)

25% x (12% of $100)

50% x $6

25% x $12

ER Contribution/Quarter=$3

ER Contribution/Quarter=$3

As you can see, the employer contribution is the same for both employees. However, as we go further, we see that there is a definite difference in the employee savings.

EE Qtly Contribution+ER Match=$9

EE Qtly Contribution+ER Match=$15

Employee Earns= $36/year

Employee Earns=$60/year

$94(salary)+$36(contribution)=

$130

$88(salary)+$60(contribution)=

$148

Madrain states that there is a risk that employees are more likely to perceive the higher rate/lower threshold as a better savings plan. However, in the example above, we can see that even though the employer match is the same for both employees, by choosing the lower match rate/higher threshold, Employee B is earning an extra $18 a year. Furthermore, the effect of higher savings is compounding! Employees contribute to their 401(k) on a pre-tax basis, thus increasing savings and take-home pay, while setting aside money for their retirement. In most cases, and with proper alignment of education and diversification tools available, higher deferrals typically result in higher returns, increasing the compounding effect of savings.

While those of you who are well versed in the language of 401(k) might see this as common sense, a majority of your employees may not see it that way. This is why the article stresses the importance of making sure your employees are in the know about 401(k) matching. The cost will stay the same for you, the employer, but your employees will be benefiting from increased savings and the knowledge that their employer has helped them work towards stability in their financial future.

The Employee Retirement Income Security Act (ERISA) identifies the fiduciary responsibilities of plan sponsors to include education of participants and eligible employees. Lack of education often leads to inadequate diversification of assets and thorough understanding of the plan’s features. Each plan sponsor must ensure that they dedicate the proper resources and time to thoroughly educate their employees about their 401(k) plan.

Don’t forget, HR Strategies offers a variety of retirement savings plans. Our knowledgeable HR Consultants will help your employees with their 401(k) needs, while helping you to fulfill your fiduciary responsibilities.

Contact Us Today!

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