April celebrates many key holidays for both Jewish and Islamic individuals that employers need to keep in mind. As we continue to trend towards a global working environment across teams on different continents, it is important to observe and respect key holidays.
April 18: Laylat al-Qadr, also known as the Night of Power, is considered one of the most significant nights in the Islamic faith. It is believed to be the night when the first verses of the Quran were revealed to the Prophet Muhammad. Muslims observe this night during the last 10 days of Ramadan and spend the night in worship and prayer, seeking forgiveness and blessings from Allah. Laylat al-Qadr is considered a time of great spiritual power and blessings, and many Muslims strive to engage in acts of charity, devotion, and reflection during this holy night.
April 21-22: Eid al-Fitr, also known as the Festival of Breaking the Fast, is a significant Islamic holiday celebrated by Muslims worldwide. It marks the end of the holy month of Ramadan, during which Muslims fast from dawn until dusk. The holiday is celebrated for three days and involves prayer, feasting, and spending time with family and friends. Muslims often wear new clothes, exchange gifts, and give to charity during this time. Eid al-Fitr is a time of joy and celebration, and it represents the culmination of a month-long spiritual journey of self-reflection, sacrifice, and devotion to Allah.
April 24-25: Yom HaZikaron is the Israeli national day of remembrance commemorating fallen soldiers and victims of terrorism. It is observed on the 4th of Iyar, the day before Israel's Independence Day. On this day, a siren is sounded throughout the country, and Israelis pause for a moment of silence in remembrance of those who have died in defense of the state. Memorial ceremonies are held throughout the country, and families visit the graves of their loved ones. Yom HaZikaron is a somber and solemn day, but it is also a day to honor the sacrifice of those who have given their lives to protect the State of Israel.
April 25-26: Yom HaAtzma'ut, also known as Israeli Independence Day, is a national holiday celebrated by Israelis and Jews around the world. It commemorates the establishment of the State of Israel on May 14, 1948. The day is celebrated with parades, concerts, fireworks, and other festivities. Israelis gather with family and friends to celebrate the country's achievements and the Jewish people's return to their homeland. Yom HaAtzma'ut is a day of great pride and joy for Israelis, as they celebrate their freedom, independence, and the strength of their nation.
Having a diverse multicultural and multi-faith workplace is important and can help to bring unique perspectives, experiences, and values that enrich the workplace environment. Employers must provide a work environment that is inclusive and respectful of their religious beliefs and practices, such as providing reasonable accommodations for prayer times or dietary restrictions. Employers can also promote diversity and cultural awareness by fostering open communication, providing diversity training, and celebrating cultural and religious holidays. Overall, not only Jewish and Islamic faiths, but having diversity across all religions can contribute significantly to the success of organizations by promoting diversity, cultural understanding, and teamwork.
Looking for more exclusive content? Check out what’s new on the Mployer Advisor blog, and be sure to check out Mployer Advisor’s new podcast “This Week in Benefits.”
Eastbridge Consulting Group has published its research and findings about voluntary benefits at companies that employ between 100 and 1,000 people.
More than 75% of employers with 100-499 employees offer at least 1 voluntary benefit, whereas that figure grows to almost 9 out of 10 among employers with 500 - 999 employees.
Further, more than half of all employees in these mid-size firms have chosen to purchase at least 1 voluntary benefit offering, and the majority of those employees who have purchased at least 1 voluntary benefit have in fact purchased multiple voluntary benefits products.
The report goes on to note that accident and critical illness are the most commonly purchased voluntary benefits among this employee set.
You can read more about that research here.
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According to federal law and under most state law as well, employers are required to meet certain standards as to when pay is due (relative to when the work was performed) as well as how frequently pay is due.
Should employers fail to meet those standards, employees are legally entitled to 100% wages owed in all cases, and in some states/cases employees are due 200% of wages owed as a punitive and compensatory measure. Importantly, lost access to payroll funds (as is the case with some Silicon Valley Bank depositors) is not an available defense for most companies under existing wage laws, even if the company is not directly at fault.
In fact, depending on the jurisdiction and applicable law, even investors like private equity funds and in some cases individual company officers and directors can potentially be held liable for illegally withholding wages, so the reach of these legal obligations can be quite broad.
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Tis the season for tax returns. We are about 30 days away from the perennial IRS due date. More than half of individuals file their annual federal income tax returns before April 1st, with the majority of the remaining filers submitting during the first two weeks of April, while approximately 5%request an extension to file until October 15th, according to a Tax Attorney Dail study in 2019. According to IRS data, roughly 10% of individuals do not file their taxes, though it's possible that the actual number is even higher. Despite the sheer number of non-filers, some may evade detection, but with modern technology, it is becoming increasingly challenging to remain undetected by the IRS indefinitely.
Over the next 30 days, make sure to communicate to your employees -
W-2 phishing targets businesses and their employees. The scammers impersonate executives or human resources representatives and send emails to employees requesting their W-2 information. The email often appears genuine, with the company's correct logos and contact information, which can deceive employees into disclosing sensitive information.
The W-2 contains personal information, such as social security numbers and addresses, that the scammers can use to commit identity theft or file fraudulent tax returns. In some cases, the scammers even use the information to file for unemployment benefits under the employees' names.
Businesses can take several steps to prevent W-2 phishing, including training their employees to recognize and report phishing emails, implementing two-factor authentication for sensitive information, and reviewing the emails' sender addresses for any suspicious activity. Additionally, businesses can encrypt sensitive data to protect it from unauthorized access.
If a business or employee falls victim to W-2 phishing, they should contact the IRS immediately to report the scam and take necessary steps to protect their personal information from further misuse. The article emphasizes the importance of being vigilant and cautious when receiving unsolicited emails, especially those that request sensitive information.
· Avoid penalties: If you miss the deadline for filing your personal taxes, you may have to pay penalties and interest on the amount owed. These penalties can add up quickly and will end up costing you more than if you had simply filed on time.
· Receiving refunds: If you are owed a refund on your personal taxes, you will not receive it until you file your return. Filing on time ensures that you receive any refund owed to you in a timely manner.
· Meeting legal obligations: Filing personal taxes on time is a legal obligation. Failing to file can result in legal consequences, including fines, penalties, and even criminal charges in some cases.
· Planning ahead: Filing your personal taxes on time allows you to plan ahead and make any necessary adjustments to your financial situation. This can help you to avoid surprises and make better decisions about your finances in the future.
3. Extension? You still need to file by April 15th –
You may qualify for a personal tax filing extension by filing Form 4868 with theIRS. Form 4868 is the application for an automatic extension of time to file a U.S. individual income tax return. You can use this form to request an extension of time to file your personal tax return, which gives you an additional six months to file.
To qualify for the extension, you must file Form 4868 by the original due date of your tax return, which is usually April 15th. The extension will give you until October 15th to file your tax return.
It's important to note that filing an extension only extends the time to file your return, not the time to pay any taxes due. Therefore, if you owe taxes, you must estimate the amount you owe and pay it by the original due date to avoid any penalties or interest charges.
Additionally, if you are living abroad, you may be eligible for an additional two-month extension, which would give you until December 15th to file your tax return. To qualify for this extension, you must attach a statement to Form 4868 explaining why you need the additional time.
It's important to remember that the rules and regulations regarding tax extensions can vary depending on your specific situation and circumstances. It's always best to consult with a tax professional or the IRS for guidance on your tax situation.
4. Recommended ways to use your tax refund:
Depending on their financial goals and priorities, people can use their tax refund money in various ways. Here are a few options:
Ultimately, the best way to use your tax refund depends on your individual financial situation and goals. It's important to have a plan for your refund to make the most of it and avoid frivolous spending.
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Women's History Month is celebrated annually during the month of March to acknowledge and recognize the remarkable achievements of women throughout history. It is a time to celebrate women's social, cultural, economic, and political contributions to society and to raise awareness about the struggles and obstacles that women have faced and continue to face, including discrimination, gender-based violence, and unequal pay. It is an opportunity to honor the courage, resilience, and strength of the women who have fought for women's rights and gender equality.
This includes both at a macro level and life in the workplace.
Looking at the most recent 100 years in the US, the 1900s saw significant progress for women's rights and gender equality, driven by the efforts of various women's movements. Some of the biggest successes of these movements include:
1. Women's suffrage: The fight for women's right to vote was a major milestone in the women's rights movement. The 19th Amendment to the U.S. Constitution, which granted women the right to vote, was passed in 1920.
2. Reproductive rights: In the 1960s and 1970s, the women's movement fought for access to birth control and safe, legal abortion. The Supreme Court's landmark decision in Roe v. Wade in 1973 legalized abortion nationwide.
3. Workplace equality: Throughout the 20th century, women fought for equal pay and equal opportunities in the workplace. The Civil Rights Act of 1964 prohibited discrimination on the basis of sex, race, color, religion, or national origin in employment.
4. Education:Women fought for and won the right to attend college and pursue higher education. The Higher Education Act of 1965 provided financial aid to help women and other marginalized groups attend college.
5. Domestic violence: The women's movement brought attention to the issue of domestic violence and advocated for laws to protect women. The Violence Against WomenAct was passed in 1994, providing federal resources to combat domestic violence and support survivors.
Overall, the women's movements of the 1900s made significant progress in advancing women's rights and gender equality, laying the foundation for continued advocacy and progress in the 21st century.
The battle for workplace equality continues today
Despite decades of progress in the fight for gender equality, women in the United States still earn only 83 cents for every dollar earned by men. The gender pay gap affects women across all industries and levels of education, and it is even wider for women of color. The reasons for this gap are complex and multifaceted, including occupational segregation, discrimination, and the undervaluing of traditionally female-dominated professions. Additionally, women often face challenges in negotiating their salaries and taking time off for caregiving responsibilities. While there are laws in place to protect against gender-based pay discrimination, enforcement remains weak. Closing the gender pay gap will require a concerted effort from employers, policymakers, and individuals to address these underlying issues and promote true gender equality in the workplace.
Being intentional about workplace equality
It starts on the front end in recruitment.
1. Employers can focus on hiring more females by implementing policies and practices that promote gender diversity in the recruitment and hiring process. Some strategies that can be effective include:
§ Eliminating gender bias in job descriptions and advertisements: Employers can review job descriptions to ensure they are gender-neutral and avoid language that may discourage women from applying.
§ Increasing outreach to female candidates:Employers can partner with organizations that support women in the workforce and attend job fairs and other events that are popular among women job seekers.
2. Providing mentorship and support: Employers can offer mentorship programs and support networks to help female candidates navigate the recruitment and hiring process.
3. Offering flexible work arrangements: Employers can offer flexible work arrangements that can help to attract and retain female talent, such as part-time or remote work options.
4. Providing equal pay and benefits: Employers can ensure that they offer fair and competitive pay and benefits packages and regularly review their compensation practices to ensure no gender disparities.
By focusing on these strategies and creating a more inclusive and supportive work environment, employers can attract and retain top female talent and create a more diverse and successful organization.
Employers can intentionally develop and celebrate women in the workplace in many ways.
1. Leadership -One way is to ensure that women are represented and included in leadership positions and decision-making processes. This can be done by implementing policies that promote diversity and inclusion, such as diversity training, mentorship programs, and flexible work arrangements that support work-life balance.
2. Development- Employers can also provide opportunities for women to develop their skills and advance their careers through training programs and leadership development initiatives.
3. Recognition- Recognizing and celebrating the achievements of women in the workplace through awards and other forms of recognition can also help to promote gender equality and create a more inclusive workplace culture.
4. Compensation- Employers can take steps to close the gender pay gap by conducting regular pay equity audits and implementing transparent and fair compensation practices.
Celebrating women in the workplace is not only the right thing to do, but it can also benefit the organization by increasing employee morale, engagement, and productivity.
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Reuters has an interesting piece that looks at the evidence on both sides of the argument as to whether or not we can expect our global inflationary woes to be sticking around for a while.
Making the case that inflation is fleeting and that the latest flare up has largely been snuffed at this point, the author points to falling energy prices, supply chain improvements, and wages that aren’t seeing the kind of upward pressure that might normally coincide with labor markets being tight as they are.
On the other hand, those who predict that inflationary problems will remain ongoing can reinforce their position by pointing to increased demand as a result of China’s lockdown abating, as well as historical precedent from the last period of comparable inflation in the 1970’s, which took about 6 years to recede down to a 3% annual rate.
You can read more about this analysis here.
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Employer and Employee – it’s a symbiotic relationship.Neither party is there just to take from the other; if that’s the case, it will not work out. Employees work hard daily to support the broader mission of the employer, and employers work hard to support their employees. Often that part can go unnoticed and unappreciated. This discussion talks about why an employee should appreciate their employer and how to foster that knowledge in employees.
We all know what bad situations look like -
Employer – We have all seen or heard of employers where it is “a grind.” Little PTO, no schedule flexibility, 50+ hours a week, always on call, low compensation, low development opportunities, and a mission that may not be worth fighting for.
Employees – We have all seen or heard of employees that are not enjoyable to work with and don’t give; they just take. Productivity is low, they have a bad attitude, and there is little gratitude and no proactive approach to anything.
What good looks like from an employer-
Compensation - A salary that enables employees to meet their financial needs, support their families, and live a comfortable life for their job duty. Compensation is often market-driven, if you’re performing services highly unique and not easily replicable by another, then expect higher compensation – we all want higher compensation, be realistic with expectations.
Medical benefits - Employers also provide, for the most part, some type of medical insurance to ensure the employee is covered both in case of an accident as well as if a chronic or more serious condition appears.
Leave and flexibility – Opportunities for employees to take time as needed with vacation and holidays.
Training & Development – Employers also invest in employees' training and development. Every day at work, a skill is honed, or a new skill is developed. That’s why years of experience are important on a resume.
Positive work environment – Outside of sleep, you will spend more time at work than any other item. Well, maybe being a parent, because that job is seemingly never-ending. Work should not feel like a prison. In addition to schedule and location flexibility, make sure there is a positive and proactive environment.
Opportunity to work on a larger mission -Employers have a vision and a mission for their company, and they hire employees who share their values and are committed to achieving their goals. This one cannot be understated.
That’s a large investment by the average employer into their employee and is generally what is made available by most employers.
Given all the great, how do you help ensure it is actually appreciated by the employees?
If you are an employer, you can also be proud of yourself and make that known. A large company in our market asked all their employees to return to the office full-time. The premise was – “It's an honor to work here, we invest heavily in you, the employee, and you have an opportunity to make an impact. To be most effective, we need teams in the office. If that’s not for you, that’s ok.”
In conclusion, employees should appreciate their employers for providing them with a salary, benefits, access to a larger mission, and opportunities for growth and development. Employers play a vital role in the lives of their employees, and they should be recognized and appreciated for the value they provide. Don’t be shy about communicating that. Everyone is replaceable, from the CEO to the receptionist or top physician at a hospital.
NASHVILLE, TN – November 2, 2021 – Mployer Advisor, the leading independent platform for employers to research, review and evaluate insurance brokers, announced today that it has secured an additional $1.6 million in funding from Martin Ventures and other well-known investors. This is the second round of funding Martin Ventures has led in Mployer Advisor in the past twelve months. This new round of funding will enable Mployer Advisor to deploy new features on its platform, hire additional leadership roles and expand its insurance broker and carrier network.
"Mployer Advisor is changing the way employers purchase over $1 trillion in benefits each year,” said Devin Carty, CEO of Martin Ventures. "We are excited to partner with the leadership team and other investors to grow and scale Mployer Advisor nationally.”
Since its launch in early 2020, Mployer Advisor has transformed the employee benefits space by prioritizing transparency and empowering employers, top brokers and consultants. Through its proprietary analytics, Mployer Advisor offers employers access to:
These analytics, combined with the industry’s first localized benefit plan design and cost benchmark reporting for employers, have resulted in an exponential increase in employers utilizing the platform to evaluate and connect with top insurance brokers and consultants.
"This investment will accelerate Mployer Advisor’s mission to create greater transparency for employers into their $1 trillion benefit spend annually, and connect them with the right resources to achieve high-quality, cost-effective benefits,” said Brian Freeman, Founder and CEO of Mployer Advisor. “Few employers realize that who they select as their insurance broker has a more significant impact on cost and quality than who they select as their carrier. We are fortunate to be partnering with the Martin Ventures team and other industry leaders to drive value to employers and top brokers.”
Mployer Advisor has added several seasoned healthcare and SaaS professionals to its senior leadership team, including Aaron Clifford as Chief Marketing Officer (formerly with Press Ganey), Weller Emmons as Vice President of Operations (formerly with HCA), Jenny Gensler as Vice President of Sales (formerly with HCA), and Gabriel Sterling as Vice President of Technology (formerly with L3 Technologies). Moreover, Mployer Advisor continues to recruit top talent to propel its mission and impact forward. Over the past six months, Mployer Advisor has more than doubled its employee base and plans to continue hiring aggressively. To accommodate its growing workforce, Mployer Advisor recently opened a new office inside Cummins Station in downtown Nashville.
Mployer Advisor has established itself as a trusted, free-to-use marketplace for businesses to access information and insights on brokers and benefit plan design. To learn more about Mployer Advisor and understand how your employee benefits compare, visit MployerAdvisor.com.
Mployer Advisor is changing the way employers search, evaluate and select insurance advisors. The intuitive platform connects employers and employees to exceptional benefits and insurance plans by providing employers with actionable data to easily evaluate and select the best advisor for a company’s specific needs. Most brokerages have a profile on Mployer Advisor, which provides independent ratings of insurance advisors to support employers. Insurance brokers cannot pay to influence their Mployer Advisor rating. Only highly rated brokerages are allowed to advertise on the platform. To learn more about Mployer Advisor, visit https://mployeradvisor.com or follow us on LinkedIn.
Media Contact:
Jacob Westfall (Public Relations Consultant)
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Nashville, Tenn.– September 7, 2022 – Mployer Advisor, the leading independent platform for employers to research, review, and evaluate insurance brokers is pleased to announce the winners of its “Top Employee Benefits Consultant Awards” based in San Antonio, Texas. Mployer Advisor has named more than 600 winners in over 50 regions as part of its second annual 2022 awards. The class of 2022 winners account for less than 5% of all brokerages nationwide.
Mployer Advisor’s Top Employee Benefits Consultant Awards Program evaluates brokerages based on the breadth and depth of their experience across employer industries, sizes, insurance products, and employer reviews. We recognize esteemed brokers that demonstrate market-leading competencies and a proven track record of success among employers, insurance providers, and peers.
“The team at Mployer Advisor is proud to honor this group of top insurance consultants as part of the 2022 class for our second annual Top Employee Benefits Consultant Awards,” said Brian Freeman, the Founder and CEO of Mployer Advisor. “Employer-sponsored healthcare and benefits cover over 150M Americans. Who an employer selects as their benefits advisor has more impact on cost and quality than who they choose as the insurance carrier. We scored these brokerages utilizing sophisticated, industry-first algorithms, and we applaud the winners’ demonstrated commitment to service, quality, and positive employer feedback.”
Mployer Advisor determined the winners of the second annual “Top Employee Benefits Consultant Awards” by analyzing each brokerage based on historical data, online reviews, their M Score rating, and demonstrated business experience.
The San Antonio, Texas job market is one of the most competitive in the U.S. Southwest, employing almost 1.2 million people. Offering competitive employee benefits is a critical factor in hiring top talent for the region’s employers. Finding and partnering with a highly rated insurance consultant is imperative to retaining talent in any market.
The recipients of the 2022 “Top Employee Benefits Consultant Awards” for San Antonio, Texas are as follows:
The above winners are a snapshot of Mployer Advisor’s matrices and proprietary M Score on June 1, 2022. To view a full list of consultants in San Antonio, Texas, visit MployerAdvisor.com.
To view a complete list of the 2022 recipients of Mployer Advisor’s “Top Employee Benefits Consultant Awards,” visit https://mployeradvisor.com/best-insurance-brokers.
About Mployer Advisor:
Mployer Advisor is changing the way employers search, evaluate, and select insurance advisors. The intuitive platform connects employers and employees to great benefits and insurance plans by providing employers with actionable data to easily evaluate and select the best advisor for a company’s specific needs. Most brokerages have a profile on Mployer Advisor, which provides independent ratings of insurance advisors to support employers. Insurance brokers cannot pay to influence their Mployer Advisor rating. Only highly rated brokerages are allowed to advertise on the platform. To learn more about Mployer Advisor, visit https://mployeradvisor.com and follow us on LinkedIn.
Disclaimer: Rankings are dynamic, and this report may not reflect the rankings currently listed on Mployer Advisor’s website. Because Mployer Advisor’s research is ongoing, interested companies that want to join next year’s list are encouraged to claim their free profile on Mployer Advisor.
Media Contact:
Abbey Dean (Director of Content)
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Nashville, Tenn.– July 27, 2022 – Mployer Advisor, the leading independent platform for employers to research, review, and evaluate insurance brokers is pleased to announce the winners of its “Top Employee Benefits Consultant Awards” based in Atlanta, GA. Mployer Advisor has named more than 600 winners in over 50 regions as part of its second annual 2022 awards. The class of 2022 winners account for less than 5% of all brokerages nationwide.
Mployer Advisor’s Top Employee Benefits Consultant Awards Program evaluates brokerages based on the breadth and depth of their experience across employer industries, sizes, insurance products, and employer reviews. We recognize esteemed brokers that demonstrate market-leading competencies and a proven track record of success among employers, insurance providers, and peers.
“The team at Mployer Advisor is proud to honor this group of top insurance consultants as part of the 2022 class for our second annual Top Employee Benefits Consultant Awards,” said Brian Freeman, the Founder and CEO of Mployer Advisor. “Employer-sponsored healthcare and benefits cover over 150M Americans. Who an employer selects as their benefits advisor has more impact on cost and quality than who they choose as the insurance carrier. We scored these brokerages utilizing sophisticated, industry-first algorithms, and we applaud the winners’ demonstrated commitment to service, quality, and positive employer feedback.”
Mployer Advisor determined the winners of the second annual “Top Employee Benefits Consultant Awards” by analyzing each brokerage based on historical data, online reviews, their M Score rating, and demonstrated business experience.
The Atlanta job market is one of the most competitive in the U.S. Southeast, employing over 3 million people with an unemployment rate of only 2.6 percent. Offering competitive employee benefits is a critical factor in hiring top talent for the region’s employers. Finding and partnering with a highly rated insurance consultant is imperative to retaining talent in any market.
The recipients of the 2022 “Top Employee Benefits Consultant Awards” for Atlanta are as follows:
The above winners are a snapshot of Mployer Advisor’s matrices and proprietary M Score on June 1, 2022. To view a full list of consultants in Atlanta, visit MployerAdvisor.com.
To view a complete list of the 2022 recipients of Mployer Advisor’s “Top Employee Benefits Consultant Awards,” visit https://mployeradvisor.com/best-insurance-brokers.
About Mployer Advisor:
Mployer Advisor is changing the way employers search, evaluate, and select insurance advisors. The intuitive platform connects employers and employees to great benefits and insurance plans by providing employers with actionable data to easily evaluate and select the best advisor for a company’s specific needs. Most brokerages have a profile on Mployer Advisor, which provides independent ratings of insurance advisors to support employers. Insurance brokers cannot pay to influence their Mployer Advisor rating. Only highly rated brokerages are allowed to advertise on the platform. To learn more about Mployer Advisor, visit https://mployeradvisor.com and follow us on LinkedIn.
Disclaimer: Rankings are dynamic, and this report may not reflect the rankings currently listed on Mployer Advisor’s website. Because Mployer Advisor’s research is ongoing, interested companies that want to join next year’s list are encouraged to claim their free profile on Mployer Advisor.
Media Contact:
Abbey Dean (Head of Content)
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Editor’s Note: To access your SHRM credits for listening to this podcast episode, click here.
Welcome to This Week in Benefits, a new biweekly podcast from Mployer Advisor, the company that is changing the way employers search, evaluate, and select insurance advisors online.
In each episode, our team will bring you the latest news and industry updates in the world of employee benefits. We will break down top headlines, bring you interviews with industry insiders, and highlight market trends and stories we’re following.
In case you missed Episode 16, click here to listen and to access the show notes.
Date: November 30, 2022
Episode Season and Number: Season 1, Episode 17
Episode Title: In this week's episode, Abbey Dean and friend-of-the-pod Jeff Reinke (Editorial Director for Industrial Equipment News) discuss Ford’s decision to offer longtime employees with performance issues the option to voluntarily leave the company with a severance package rather than go through a performance enhancement plan.
To listen to Episode 17 of This Week in Benefits, click here.
Ford Offers Easy Exit to Underperforming Workers, SHRM
Ford Gives Underperforming Employees Option to Take Severance Package, The Detroit News
Abbey Dean: Hi everyone, and welcome to this week's episode of This Week in Benefits, a podcast from the team at Mployer Advisor where we discuss all things in employee benefits. I hope everyone had a wonderful Thanksgiving. We're still getting out of the post Thanksgiving haze, but to help me do that, we have back on the podcast today, my friend and former boss, Jeff Reinke of IEN. And we are going to be discussing an interesting new policy that Ford Motor Company announced earlier this, well, I guess it was a few weeks ago now, but it started November 1st. So we are going to look back at that headline, dig into the kind of meat of the story, and Jeff is going to give some interesting perspectives on what this might mean and also what it could indicate for the larger manufacturing industry. So stay tuned and take a listen to my conversation with Jeff.
Hi everyone, and welcome to another episode of This Week in Benefits. We have a return friend of the podcast on today, Jeff Reinke of IEN. Thanks for coming on again, Jeff.
Jeff Reinke: My pleasure, Abbey. Thanks for having me.
Abbey Dean: Of course, always. Again, just any sort of excuse to talk to you. So <laugh>,
Jeff Reinke: Just trying to relive this Wisconsin weather from South Tennessee.
Abbey Dean: You know, I honestly am so it's a win-win for me.
Jeff Reinke: Well, hey, a couple months we can go ice fishing if you really want to get back into it.
Abbey Dean: Jeff, I never went ice fishing even when I lived there.
Jeff Reinke: Well see. There you go.
Abbey Dean: Would you actually take me?
Jeff Reinke: If you would make the track up here to do it, I would definitely take you on the ice, I think especially because you would last maybe 90 minutes and we'd be done. So <laugh>,
Abbey Dean: Okay, so this is recorded so you can't back out.
Jeff Reinke: I'm in, I'm in.
Abbey Dean: Okay, awesome. So anyway, aside from ice fishing, today, what we are talking about is some news that came out of Ford a few weeks ago. Basically what the news is, is that Ford is giving long-time employees with job performance issues, the option to voluntarily leave the company under a policy update that went into effect officially on November 1st. So what it's doing is it's altering its approach to addressing white collar employees, of which they have around 30,000 who are deemed under performers. And they're telling managers that some of those workers must choose between severance, or a performance enhancement program, and that's internally known as the performance enhancement plan, or PEP. So there's sort of like Jeff, we talked about this a little bit before, but this isn't a new type of plan. There's a lot of sort of structures out there that are similar.
But what is different about this is that the plan before has been in place for U.S. salaried workers with at least eight years of service experience at Ford? So I'm, I'm just very interested in this. Basically, Ford is giving white collar workers who have been flagged for underperformance the option to have weekly check-ins with managers and have new objectives over a six week-ish period. Or they can just go ahead and say, hey, you know, I don't think this is working out for me and take a severance check. So it's very interesting, and I wanna touch on this a little bit but Jeff, when you first heard this news, what was your reaction?
Jeff Reinke: Well, Ford's had a lot of interesting developments going on internally with the way that they're structuring or restructuring their company. And a lot of this, and they're not alone, is based on the fact of just the impact of the electric vehicle market. Earlier this year, I wanna say it was March, they came out with an announcement basically saying they were going to split the company into what they're describing as two interdependent companies.
You're going to have Ford Blue, which is the internal combustion engine production focused vehicle company, and then you're also going to have Ford Model E, which is obviously focused on the production of electric vehicles. So to me, when I first saw this, it seemed like they were taking additional steps to get their company the right size and with the right people to move forward with really going after the electric vehicle market. They've also made announcements by hopefully having, I think 16 electric vehicles within the next three or four years out on the market, which is very aggressive, especially cause right now they're nowhere near that. So a lot of, I think this just to me it reading between the lines, even though they didn't say anything specific, this was another move focused on electric vehicle development
Abbey Dean: Right and then a lot of the coverage I saw surrounding this, they were very clear that this is not I think there was some rumors going around that they might announce another round of layoffs. And so when this news came out, they were like, no, no, no, no, we're actually <laugh> trying to make sure we have the best people in the business who want to be here. And so it's kind of an interesting approach. Actually, the Wall Street Journal they interviewed someone named Liz Weber who's a management consultant, and she said quote, she's "never come across an approach to performance management like Ford's new policy." She also called it "impressive and very gracious, and a move that demonstrates Ford's commitment to supporting underperformers within its white collar ranks." So I don't know about all of that, but it is a very interesting approach.
Jeff Reinke: I think she's being very gracioU.S.there. I think this is kind of a half glass full approach. Basically, Ford is weeding out some of their underperformers, because the dynamic with producing marketing servicing electric vehicles is very different. Now, the supply chain is similar in many respects, but you've got a customer that's going to have to take on a real paradigm shift. You've got different design specifications, you've got just completely different production processes and models. Those models really depend on a little bit more automation fewer hands on the vehicle while it's being made potentially, and leveraging a lot of these new production technologies. So when you're looking at really refocusing so many elements of your internal operation, there's no way that can impact the folks working in the front office who are involved with designing those vehicles, marketing those vehicles, selling those vehicles, dealing with dealerships, dealing with customers.
All of those things are going to be impacted as well, especially because Ford has also taken steps in with their supply chain in terms of developing a lot of their own battery factories especially in the southeastern part of the country. So when you look at an internal combustion engine versU.S.a battery pack, the number of suppliers is less, the design elements are less. So that's going to impact things in the front office as well. And again, I think that's where a lot of this is coming from, identifying these underperformers and getting people in there that are going to be better suited to their EV business.
Abbey Dean: I should also say that I could not find any numbers anywhere about how many underperformers Ford usually has in this existing program too. So I don't know how big of a program this is or how big of a change but it is an interesting policy. Jeff, do you know of other automakers or manufacturers who do have similar programs or initiatives like this?
Jeff Reinke: Well, I mean, the buyout dynamic is not new. We've seen that a lot. But typically it was related to sort of time at the company, maybe certain positions that were being eliminated as opposed to them transferring somebody to a different job. They gave them the option of a buyout. So when it was downsizing or again, letting people retire early, essentially those things are not new for it to be directly tied to a performance program or a performance, for lack of a better word, rating program or ranking program. Yeah, that's very different. Typically, you would see automakers maybe being a little more aggressive depending on the type of job we're talking about now we're talking about front office folks as opposed to UAW workers on the plant floor. So that's a different dynamic too. But again, typically it'll be more about weeding them out more I think in a more democratic way. This is unique to look at performance.
Abbey Dean: Ford also clarified that the updated policy allows, they kind of clarified what you're talking about, what the actual severance payouts would be based on, and apparently it's based on, as you kind of said, length of employment, continuation of benefits, and then also career transition services. I don't know what that part means. Honestly, I think there's, yeah, I know. Yeah, and maybe or maybe there is a position, maybe you could move up elsewhere. I don't know. Maybe that's a different part of this that they didn't go into as much too but the process they say would remain unchanged for those who opt to go into a PAP program rather than leave. So they could be subject determination without severance if they fail to turn around their performance. So I mean it is it an interesting carrot they're putting out there?
Jeff Reinke: Well, it also allows them to move more rapidly. Hopefully we can get these folks essentially off the books. Part of this may also be trying to leverage the fact that there's been a lot of layoffs in the tech industry. Yeah. When you look at social media companies, even some of the more technologically focused companies like Cisco and Microsoft laying off a lot of people right now, Amazon's another one. Maybe Ford is looking at those types of individuals. When you look at data scientists and artificial intelligence people and other developers of different types of technologies, they may be real appealing and this allows them to, pardon the term, just sort of cut some dead weight and move on to get the right people in place. Again, I think this is really focused on advancing their electric vehicle business.
Abbey Dean: And that was going to be my next question, if this change signals anything to you about the state of Ford, but also just large, more largely speaking about the state of the industry right now and all the kind of changes and curve balls that everyone has been hit with this year.
Jeff Reinke: Well, it's unique in the fact that automotive, and again, we're looking more at the plant floor when I say this as opposed to the front office, but labor shortages have been real. I mean, especially in automotive, they've had a very difficult time finding enough workers. So to hear about a program where they're basically allowing those who have come up on the shorter end of the evaluation stick to leave with some money in their pocket is unique. That's different. We haven't heard, we haven't seen that before, how this impacts automotive going forward. I think every one of these companies is embracing the transition to the electric vehicle marketplace in a different way. Some people have gotten out way in front of it. Ford has been a little bit more, I would say, gradual in their approach. They've started with the F-150 Lightning, they started with the Mustang in electrifying those vehicles, which are two of the most popular vehicles on the planet.
I mean, the F150 has been the number one selling vehicle in the U.S.for 40 years. So their approach has been different, but I think that's what you're going to see with a lot of automakers around the world, seeing what they need to do to get the right people in place to really push these electric vehicle programs forward because they have some extremely aggressive goals in terms of the percentage of their portfolio that they want to be electric and the goals that they have in place for making sure the mass majority of the vehicles they produce are EVs.
Abbey Dean: Is there anything else you think we should touch on that's interesting about this or important to mention?
Jeff Reinke: Well, I think what's interesting, remember Ford is obviously the oldest automaker in the U.S. so when they do things, people still pay attention. I think geographically, it's also very interesting with them still being very focused on Detroit. They've been one of those that has not had as strong a move away from sort of the Midwest, although they have opened, they've got a big truck plant, they've got a lot of facilities in Kentucky. So again, and they're even this year, the way that they've done things in terms of the job cuts, we heard about 3000 cuts earlier in the spring, another 8,000 that were rumored this summer. But then we've seen huge investment again in that Kentucky facility where they make trucks, where they're hiring upwards of 500 or more auto workers. So I think everybody does watch a company like Ford and sees what they do, not necessarily to emulate them, but to get a feel for what may or may not work in their plans as well. So it'll be interesting to see how this plays out, and I could see other automakers potentially taking this route in terms of, here's an easier way to, again, get the right people that we need in transitioning towards electric vehicles.
Abbey Dean: Awesome. Well, I hope they maybe do some updates. I'm assuming if it goes well, we'll hear about it. If it doesn't, then maybe we won't.
Jeff Reinke: Yeah, I, and then you kind of feel bad for these folks who didn't take the initial offering. Oh, I know. They're not able to improve their performance level, and they're letting go anyway, and I kind of feel like that Ford is going to be, even though they wouldn't say it in any type of press release or external statement, I think they're pushing these folks to take the deal,
Abbey Dean: Yeah, I bet so too. Okay. Well, thank you, Jeff, Reinke, for all of your insight and expertise. We'll have to have you back on soon. Either that or I'll just come to Wisconsin and we'll go ice fishing.
Jeff Reinke: That would be wonderful. Abbey Dean, thank you so much for having me on your podcast.
Abbey Dean: <laugh>. Awesome. Thank you, Jeff.
Jeff Reinke: All right, see you later.
Abbey Dean: And that wraps up today's episode. Thanks so much to everyone for tuning in. Now, if you have not yet, please subscribe to the podcast. If you leave us a review, I would be forever grateful. Don't forget too, that you can leave us a voicemail message if you want to send along ideas or have follow up questions to past episodes. Also, something that you guys may not be aware of, but if you are an HR professional and you need some SHRM credit, this podcast does qualify for SHRM credit, so be sure to check out our show notes to learn more about how to access that. In the meantime, I hope everyone is doing well, getting into the holiday spirit, and I will see you all next time.
Thank you for listening to this week's episode of This Week in Benefits brought to you by Mployer Advisor. Mployer Advisor is changing the way employers search, evaluate, and select insurance brokers. Our intuitive platform connects employers and employees to get great benefits and insurance plans by providing employers with actionable data to easily evaluate and select the best advisor for your company's specific needs. To learn more about Mployer advisor and our suite of products, please visit our website at mployeradvisor.com and tune in next time. Thanks.
A survey of benefits brokers conducted by Wellfleet Workplace and EIS found that brokers’ top pain points all center around demands for better technology from their carriers. The survey, conducted to gauge broker sentiment on partner technologies, also examined factors that impact broker satisfaction and their ability to be successful partners with carriers in the current workplace benefits market.
According to the survey, respondents’ top six carrier pain points are all IT-Related. The specific pain points include:
The survey’s results also reveal that while brokers are increasingly embracing their roles as advocates for employer clients, they find themselves in an uphill battle with legacy technology. This finding is critical because technology is the No. 1 reason brokers will recommend a carrier to a client, according to the survey's researchers.
“Employers are stretched thin with the management of their current benefits programs, as well as crafting and implementing benefit strategies that resonate with their employees. When you add in a poor technology experience, the pressure HR benefits managers feel grows exponentially,” said Samantha Chow, LAH Markets Lead at EIS in a statement. “The survey findings reveal the carriers that are able to provide meaningful solutions are going to excel.“
The aforementioned survey also found that, after technology, the other top factors that influence brokers’ carrier recommendation are financial rating (57%) and the claims submission process (36%).
In order to meet the growing demands of clients and the changes caused by the ongoing pandemic crisis, brokers have pointed to a need for strong technology enablement from their carriers. Data from the survey reveals that in order for a broker to recommend a carrier to a client, there first needs to be confidence that the carrier will provide a seamless digital experience for both broker and employer.
What’s more, brokers want to be able to provide their clients a digital-first, customer-centric experience; this includes the ability to access portals and microsites, as well as the power to easily integrate with client benefits administration systems.
When asked about the importance of a carrier’s ability to provide a robust digital experience with features such as a broker portal, client analytics, and educational materials, 93% of respondents ranked it as “very important.”
Looking for more content related to brokers and digital transformation? Read on for “How to Choose an HR Software System.”
One of the most common misconceptions among modern business organizations is that human resources and human capital are the same thing. Some organizations historically have used the terms interchangeably, and there remains a great deal of overlap between them. However, the modern understanding of these terms as distinct concepts is more than a vocabulary lesson; it is critical to the optimization of both.
The broadest area of overlap between human resources and human capital, as the nomenclature suggests, is that they are primarily concerned with the people who make up an organization. But while human resources involves the employees themselves and their role within the hierarchy of the organization, human capital management is about the intangible assets that each employee brings to their role in the organization.
To put it another way, for any goal that an organization may hope to accomplish, human resources covers the ‘who’ in terms of who will be responsible for defining, delegating, executing and accomplishing that goal. Human capital covers the ‘how’ in terms of the tools, such as creativity, problem-solving, experience, network and authority, that each human resource within the organizational hierarchy will put to use toward seeing the organizational goal achieved.
Another feature that human resources and human capital management share is a difficulty being precisely quantified. While somewhat rudimentary if not crude as a metric, human resources can at least be measured on the balance sheet in the form of salaries and benefits.
Human capital, on the other hand, is even more difficult to represent in figures – though theoretically at least, that human capital should be equally represented in the same salaries and benefits earned by the human resources that embody that human capital.
This is where the distinction between human resources and human capital management becomes significant. It is standard practice within most organizations to associate salary and benefits directly with the concept of human resources. This is because the core salary and benefits package is perceived as being baselined by the title or position within the organizational hierarchy, and then adjusted according to the skills, experience, value and advantages (or lack thereof) brought to the role by the individual employee hired to fill that position.
In other words, salary and benefits are conceptually understood as primarily a function of the titled position within the organizational structure, which then potentially can be modified up or down depending on other factors including the perceived human capital that a prospective hire might bring to their new position.
What is a PEO and Is It Right for My Company?
It should be noted that this perception of human resources as an independent variable with human capital as subordinate is entirely rational given that human capital is so difficult to identify and measure – even more so in the interview and acquisition process. Certainly, abstract human capital assets like talents, good business practices and habits, and creative problem-solving skills are incredibly difficult to value in advance of a thorough on-the-job performance evaluation, which is rarely if ever possible (in outside hire scenarios at least) and is difficult to consistently value even then.
Even more difficult to properly value than the human capital assets that are contained within a single human resource (e.g. talents, skills, individual experience) are the human capital assets that interconnect the employees, teams and divisions. More than just collectively creating the culture of an organization, the individual human capital that each member brings to their role indelibly shapes the systems and processes around them.
Accordingly, there are really two separate classes of human capital assets: those you bring with you to the company (in the case of new hires) or to the new position (in the case of promotion from within) and those human capital assets that develop within the company, ideally representing interconnections, symbioses, and complementary abilities among the organization members.
Put another way, there is one class of human capital assets that employees bring with them when they come and also take with them when they go – along with the new experience and knowledge they’ve gained during the course of their tenure with the organization.
The second separate class of human capital assets represents the footprint that remains embedded within the organization when a member of that organization and their individual class 1 human capital assets no longer fill that space.
With all that in mind, how then can an organization best apply these conceptualizations of human resources and the two classes of human capital assets when valuing employees in terms of salary and benefits packages?
As discussed above, salary remains a rational means for evaluating and rewarding value to an organization, especially in new hire and promotion scenarios. However, it is not the only nor necessarily the ideal tool by which talent can be retained. Further, talent (and other class 1 human capital assets) are not the only human capital assets that the organization has an active interest in preserving.
Salary alone has its limitations as an effective retention tool in today’s highly competitive talent retention environment. In fact, many organizations are turning to creative benefits and incentives structures to better reward employees for the often undervalued footprint that their intangibles make on the organization.
While salary for any given skillset or set of experiences can always be met or exceeded by an outside offer with the flick of a pen, uniquely tailored benefits packages designed to optimally fulfill the needs of an employee can be a much more difficult offer to match and can better align the employee’s incentives in accordance with the size of their intangible footprint.
Knowing the difference between human resources and the human capital management can be a helpful consideration to account for when evaluating those resources and capital assets.
Even more so, when determining how best to compensate employees for the intangibles they bring to and create within the organization, revitalized benefits packages are an effective way to properly align the incentives of both the employee and the organization as a whole.
With a vast variety of benefits options and insurance brokers combined with the current technological search capabilities to nearly instantly find the best fit for your organization, there is no reason not to make sure your current benefits and incentive options aren’t neglecting the human capital assets on which your organization depends.
Start searching today on Mployer Advisor.
At Mployer Advisor, our focus is creating transparency in the insurance and insurance broker, consultant and advisor space to the advantage of the employer. Analytics is our core and we will bring to light new information, tools and resources to aid employers in making more cost-effective decisions. As a phase I, we are here to help employers find the right broker or consultant and the right insurance company for them. Giving choice and initial transparency is a first step in creating an employer centric insurance marketplace.
An insurance broker can save money for your business by procuring better rates and coverage than you could find and purchase on your own. And the best part? The insurance company usually pays them commissions – not you. But many businesses wonder if brokers have a fiduciary duty to serve in their best interests.
The good news is that insurance brokers do have a fiduciary duty to their clients.
When you hire an insurance broker, they work directly for you – not the insurance companies. So, you can think of an insurance broker as an intermediary between insurers and businesses, with no stakeholder interest in the policy itself.
In this post, we discuss a broker’s responsibilities to clients, how they are paid, and the fiduciary duties of insurance brokers and agents.
An insurance broker's main responsibility is to understand your business and find fitting insurance policies within your budget. They also provide ongoing services to help determine if policies should change, assist you with compliance, and help submit claims and receive benefits.
Some insurance brokers focus on specific industries or types of insurance, while others provide advice on many different business insurance and benefits options. For example, brokers specializing in property and casualty insurance help small businesses find coverage for risks like natural disasters and lawsuits, while group health and life insurance brokers will assist companies with benefit plans.
Many insurance brokers and advisors will also act as an extension of your human resources team. When you need to reconsider policies or file a claim, your insurance broker can be a liaison between you and your insurance carrier. Because brokers work for you, not the insurance company, their advice should serve your company’s best interest.
On the other hand, since they are paid by commissions by insurers based on premium costs, brokers could be confronted with conflicting incentives and fiduciary responsibilities. Understanding whether insurance brokers have a fiduciary duty first requires understanding how they are paid.
Not all brokers are compensated in the same way, so the commissions or fees they collect may be different.
Insurance brokers typically are paid through a commission based on a percentage of your policy premium. In most cases, commissions are paid by the insurance company that the employer chooses.
Sometimes, brokers will charge fees as they take on consultant (or advisor) roles, providing ongoing services that go beyond buying and renewing policies. You should know if your broker or agent charges fees, and who pays the fees, before they start searching for insurance policies on your behalf.
Some brokers are contracted for several years, so you might need to pay broker fees through the contract term, regardless of policy changes, unless the broker violated your contract. Broker fees are usually non-refundable, so you will still have to pay if you cancel your policy mid-term, unless your insurance broker violated your contract.
Employers should know how their brokers are paid, but insurance policies are seldom simple, so you will need to ask about every potential fee or commission. To avoid unexpected costs, you should know commissions and fees upfront, examine your broker’s relationship with insurers, and understand the difference between insurance brokers and insurance agents. Good brokers have no issue with transparency.
A fiduciary is a person or group (such as a brokerage firm) that acts on behalf of your company, putting your interests ahead of their own. So, being a fiduciary requires being bound legally and ethically to act in a client’s best interests.
Fiduciary duty requires that a representative in a position of trust, such as an insurance broker or advisor, must act in good faith and honesty on behalf of a client.
Insurance brokers voluntarily accept this fiduciary responsibility and agree to carry out that responsibility in good faith. Legally, that means fiduciaries must act reasonably to avoid negligence and not favor anyone else's interest (including their own) over your company’s interest.
Avoiding conflicts of interest is crucial to acting as a fiduciary, so a broker or advisor must disclose any potential conflicts to them serving your interest ahead of their own or the insurer’s.
Fiduciary certifications, along with insurance broker licenses, are managed at the state level in the U.S. and can be revoked by the courts if a representative neglects their duties.
You might wonder if insurance brokers have your best interest at heart. In most cases, they do. When you hire an insurance broker, they work directly for you – not the insurance companies.
Insurance brokers and insurance consultants perform similar functions, are licensed, and have a fiduciary duty to you as the insurance buyer. Moreover, an independent, fee-only advisor is legally bound to be a fiduciary.
The fiduciary duty between an insurance broker and a client is based on trust and good faith, and requires that they act in your interest as a client. A “standard of care” is established between these two parties and it must be upheld, regardless of external interests.
Their duty ensures that brokers advise and work for you when purchasing coverage, not beholden to a particular insurance company.
The distinction between fiduciary responsibility for an agent compared to a broker, however, becomes blurred when agents are working for insurance carriers to sell their products.
An independent or captive insurance agent is primarily a representative of the insurance companies they work for. As far as fiduciary duty goes, liability typically falls to the insurer if the representative is determined to be an agent. This means the agent will not have a fiduciary duty to the insured.
Brokers, meanwhile, owe their allegiance to the client, even though they are typically paid by carriers. In other words, they are an agent for your company and owe fiduciary duty to you as the insurance purchaser.
As we discussed earlier, most brokers are compensated by commissions, which could present an inherent conflict of interest. In the case of conflicting interests, brokers and agents are supposed to disclose the "dual agency" or risk being accused of neglecting their fiduciary responsibility.
You should be able to trust that your broker is finding appropriate coverage for your company. If they are not attentive, do not provide valuable advice, or only appear when renewals are coming up, it may be time to browse other options.
Broker relationships do change. If you are unsatisfied, know that more than 40% of businesses do not feel satisfied with their current broker, and 21% have changed brokers in the past three years, according to Zywave.
When evaluating and choosing insurance brokers, be sure to explore benchmarking studies that give you an understanding of who is out there and how much you should pay. Mployer Advisor’s proprietary M-Score can show you how different brokers rate in terms of industry expertise, transparency and cost.Looking for more exclusive content? Check out what’s trending on the Mployer Advisor blog.
From “policyholder” to “premiums” and “providers,” much of the jargon used in the insurance industry isn’t easy to keep straight. For those unfamiliar with the difference between an insurance broker and carrier, Mployer Advisor outlines the distinction below.
An insurance broker is a licensed professional who helps businesses evaluate and select insurance policies. Unlike insurance agents, brokers do not work for a particular insurance company. Rather, they represent employers and work to help businesses find the best plans and coverage for their needs.
Some brokers work with individuals rather than companies. However, the type of broker an employer will work with deals primarily or exclusively with procuring insurance coverage for businesses. These brokers are often called business insurance brokers or commercial insurance brokers.
There are several types of commercial insurance brokers, such as health insurance brokers, property & casualty (P&C) insurance brokers, liability insurance brokers and more.
Insurance brokers assess the unique needs of a given employer, then work with insurance carriers to negotiate and select an array of coverage options. For this reason, employers who work with a broker often end up with more choices than those who shop online or purchase directly from an insurance provider.
As a result, employers are able to evaluate a variety of plans and policies that an insurance broker brings to the table. Employers can compare coverage, costs and more in order to select the best plans for their company and their employees.
An insurance broker typically gets paid by commission. Usually this commission is built into the premiums paid by policyholders every month. Thus, it’s not a separate payment, but included in the price of the policy purchased through the broker.
Learn more about broker commissions and fees or try our commission calculator to see if your insurance broker costs are competitive for your market.
An insurance carrier is the company that actually provides the insurance policy. Also called an insurance provider or insurance company, a carrier offers one or more insurance products to individuals or groups, such as health insurance, property and casualty insurance, workers’ compensation and more.
In other words, a carrier is the company you pay premiums to. They underwrite your insurance policy and pay out for claims.
Examples of large insurance carriers include State Farm, Allstate, Humana, Cigna and Progressive.
Insurance carriers can offer policies for individuals, such as Geico’s car insurance or Liberty Mutual’s life insurance. However, carriers can also offer business insurance which covers a company or a group of employees. Examples include Blue Cross Blue Shield’s group health plans and Delta Dental’s group dental insurance. Looking for more exclusive content? Check out what’s trending on the Mployer Advisor blog.
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