Navigating Employee Benefit Compliance in MA
The Great Resignation shows no sign of slowing down. While not as high as the 3% seen last winter, the May 2022 resignation rate is still a healthy 2.8%.
One of the best ways to combat this is by offering employee benefits. For instance, as of March 2021, 92% of government employees had access to paid sick leave, while 78% of private employees enjoyed the same.
Massachusetts (MA) companies aiming to attract and retain top talent must offer comprehensive benefits and compensation packages.
The question is, how do they go about that legally? Keep reading for tips on employee benefits while remaining compliant with MA regulations.
Tips on Navigating Employee Benefit Compliance in MA
No matter what industry you’re in, whether real estate, medicine, fashion, or food, every company should try to offer employee benefits. The best employee benefits can boost employer-employee relationships.
Compliance is vital as it ensures you conform with all employee benefits laws, including ERISA and HIPAA. Below are ways to navigate employee benefit compliance in MA.
1. Document policies and procedures
Creating policies from scratch often seems like an overwhelming project full of legal jargon, with one wrong step landing you in a legal minefield.
The thing is, your company’s employee policies and procedures don’t have to be sophisticated. The most important thing is documentation. Write down the policies and procedures and continue tweaking them over time.
To develop the best policies, ensure you gain input from all levels in the company. Remember that you’re writing a living document that will need regular updating. As time passes, things change in the company; remember to update the handbook.
2. Monitor changes in existing laws
To ensure you never find yourself on the wrong side of the law, make it a habit to check for updates to current regulations. Because of the numerous laws regarding employee benefits, keeping up with all the changes can be challenging, so it wouldn’t hurt to seek clarification from a specialist lawyer.
If you cannot do so yourself, ask someone on your team with the responsibility of checking for updates. Having an employee monitor changes makes it easier for you to review the regulations promptly.
3. Mentor employees on their privacy rights
It’s not uncommon for HR professionals in various companies to help employees to learn more about their benefits. These HR professionals encourage employees to read relevant material to understand the employee benefits options available to them.
HR officers today continue to provide the stepping stone to discussions on employee benefits. Try to extend the same support to hires alike.
4. Use digital tools to streamline the process
If you want a pain-free way to remain compliant, opting for a benefits provider with a benefits compliance software tool is best. The tool will afford your HR team automated tracking and assessments and is excellent for self-service.
The great thing about such software is it will make updates whenever there are new regulations, ensuring you always stay compliant.
They also have a team of compliance experts who will guide you if you have any issues. So settle for an intuitive and easy-to-use software for all your employees.
Contact Health Consultants Group
To learn more about how you can help your employees with such problems, and other essential HR issues, visit our contact page or give us a call at (800) 367-2482.
