Category

Employee Benefits

Jun 06

Ensuring You Remain Compliant with the Rules and Regulations of Benefits

By Employee Benefits
As leaders in the emerging cannabis industry, you’re familiar with evolving laws and regulations. However, navigating the complexities of employee benefits plans can be equally challenging. At Kapnick, we take a holistic approach to cannabis industry benefits compliance, ensuring your programs are effectively designed, implemented, and compliant with all rules and regulations. KAPNICK COMPLIANCE: YOUR PARTNER IN BENEFITS COMPLIANCE Kapnick Compliance is a specialized task force dedicated to simplifying legislative compliance for our clients. We provide timely, easy-to-understand updates through: Seminars Webinars Legislative update emails One-on-one consultations By partnering with Kapnick, you can stay ahead of the ever-changing compliance landscape while…
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Jun 01

Employee Engagement Across State Lines – A Kapnick Case Study

By Case Studies, Employee Benefits
This case study highlights how a large property management group improved employee engagement and benefits enrollment with Kapnick's help. By addressing challenges caused by a dispersed workforce, Kapnick implemented solutions that boosted engagement and doubled benefits participation. THE PROBLEM A Michigan-based property management group with full-time and part-time employees spread across Southern and Midwestern states struggled with poor employee engagement and low benefits enrollment. The dispersed nature of their workforce made communication and engagement difficult. THE NUMBERS 70% of employees are not engaged. High engagement increases operating income by 19.2%, while low engagement can cause revenue to drop by nearly…
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May 23

The Impact of Employee Benefits on Workers’ Compensation Claims – A Holistic Approach

By Employee Benefits, From the Experts, Risk Solutions
Workers’ compensation accounts for less than 2% of U.S. medical spending and was largely overlooked in the 2010 healthcare reform. However, workers’ compensation and healthcare reform are connected in two significant ways, both of which benefit employers and employees alike. RESULT #1: HEALTHIER WORKPLACES THROUGH INSURANCE COVERAGE The reform extended coverage to many previously uninsured workers, creating a healthier workforce. With access to preventive care, employees are less likely to suffer from undetected conditions like diabetes or hypertension, which can complicate workers’ compensation claims. Healthier employees heal faster, return to work more quickly, and are less likely to attribute underlying health issues…
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Apr 26

Retain and Recruit Employees Without Breaking the Bank

By Employee Benefits, From the Experts
A year into the “great resignation,” employers are still struggling to retain and recruit talent. With 46% of workers actively seeking new jobs in late 2021 and 4.5 million quitting in November alone, it’s clear that workers are prioritizing their needs over paychecks. To combat this, employers must adopt effective employee retention strategies that go beyond compensation, such as voluntary benefits, employee assistance programs (EAPs), and employee education. VOLUNTARY BENEFITS: A COST-EFFICIENT SOLUTION Voluntary benefits are becoming a cornerstone of many companies’ benefits strategies due to their cost efficiency and portability. These benefits allow employees to choose from a variety of options,…
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Mar 24

One Firm Solutions – A Kapnick Case Study

By Case Studies, Employee Benefits
At Kapnick, we pride ourselves on delivering exceptional service across all areas of insurance. This case study highlights how our Kapnick Business Insurance solutions helped a client save money, improve coverage, and receive the proactive care they deserved. THE PROBLEM One of our Employee Benefits clients was dissatisfied with their Business Insurance broker. They felt they were paying too much for too little coverage and weren’t receiving the same level of care they experienced with their Kapnick benefits team. THE SOLUTION Kapnick stepped in to help. We introduced the client to one of our Business Insurance experts, who listened to their concerns…
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Mar 21

Using Employee Engagement and Education to Combat the Great Resignation

By Employee Benefits, From the Experts
The Great Resignation has reshaped the workforce, with employees leaving their jobs in record numbers. A Prudential survey conducted in late 2021 revealed that 46% of workers were actively seeking or considering new opportunities. Labor statistics confirmed this trend, with 4.5 million workers quitting their jobs in November 2021—a record-breaking figure. This trend underscores a critical challenge for employers: Workers are no longer willing to stay in roles that don’t meet their needs. To combat this, employers must focus on employee engagement and retention strategies to demonstrate their value and keep top talent. TOOLS TO BOOST EMPLOYEE ENGAGEMENT AND RETENTION At Kapnick,…
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Mar 17

Negotiating Premiums Rate Reductions Due to One Time Claims – A Kapnick Case Study

By Case Studies, Employee Benefits
Managing the rising costs of employee benefits, especially health insurance, is a challenge for many organizations. This case study highlights how Kapnick used data-driven strategies to help three clients significantly lower their costs. By analyzing claims data and negotiating with carrier partners, we delivered substantial savings for each client. THE PROBLEM: HIGH EMPLOYEE BENEFITS COSTS Three clients approached Kapnick with concerns about the escalating costs of their employee benefits, particularly health insurance. Each organization faced large, one-time claims that were driving up their premiums. These challenges made it difficult for them to manage their budgets effectively. THE SOLUTION: DATA-DRIVEN SAVINGS…
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Mar 10

The High Cost of Employee Turnover – A Kapnick Case Study

By Case Studies, Employee Benefits
Employee turnover is a costly challenge for organizations, with both direct and indirect expenses adding up quickly. A municipality client approached Kapnick to uncover the root cause of their high turnover and reduce its financial impact. By identifying pain points and implementing tailored solutions, we helped them address this critical issue. THE PROBLEM: HIGH EMPLOYEE TURNOVER COSTS Employee turnover can have serious financial and operational implications. Direct costs include recruiter fees, interview expenses, signing bonuses, and onboarding. Indirect costs, such as reduced productivity, lost work time for trainers, and morale damage, further compound the issue. The Numbers: According to Gallup,…
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