Tag

Benefits

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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