A dependent care flexible spending account (FSA) lets participants set aside pre-tax dollars to help pay for dependent care. Contributing to this benefit reduces taxable income and spreads the benefits of pre-tax dollars throughout the year, helping individuals save 30 percent or more (based on their tax rate) on dependent care costs. Dependent Care...
The season for filing taxes is upon us once again. We’re getting closer to the deadline for filing for 2023. We wanted to share a few tips and reminders about health savings accounts (HSA) you’ll need for your tax return. HSA Tax Prep Checklist Check your W-2 for HSA payroll contributions Get your 1099-SA form...
Health savings accounts (HSAs) have become increasingly popular but they often come with misconceptions. To help employees make informed decisions, let’s debunk common HSA myths and shed light on the HSA facts that matter. HSA Fact #1: HSAs are Employee-Owned While employers may choose to contribute to an employees’ HSA, it’s important for employees...
Expanded public transit. The rise and rebound of ridesharing. Increased work-from-home arrangements. The work commute has changed a lot recently, as lawmakers and civic officials grapple with how to effectively support people traveling to and through ever-growing cities. New York City, Washington, D.C., Chicago, Philadelphia and Seattle are among cities that have enacted laws and...
What are pre-tax savings and post-tax savings? Understanding taxes relating to health savings accounts (HSAs), flexible spending accounts (FSAs) and other benefits plans can be time-consuming and difficult to explain. Pre-tax savings are tied directly to FICA taxes. You may be wondering what FICA is and how does pre-tax savings work for HSAs and FSAs?...
In 2023, mental health became a top priority for employees and employers. According to a SHRM study, 41% of U.S. employees said they would likely or would very likely leave their current job if they were offered a new position with significantly improved mental health benefits. While many companies offer employee assistance programs (EAPs), it’s...
Welcome to 2024! As we get ready for another year of sharing the latest benefits trends and practical tips to enhance you and your employees’ benefits experience, let’s look back at our most popular blog posts from 2023. Get the Best Results from Your Benefit Budget Conversations Benefits are critical for attracting and retaining...
As we age, the importance of maintaining safe mobility within our home becomes critical. It is crucial to understand how to save money on common at-home expenses with health savings accounts (HSA) and flexible spending accounts (FSA). From home modifications to adaptive equipment, creating an environment that not only nurtures a person’s well-being but also...
Did you know that, when employees were asked on a scale of 1 to 10 how confident they are in their understanding of their benefits, 34% chose 7 or less. Only 25% responded with a 10. That was just one of the findings from a survey of benefits participants WEX launched in May 2023. Often,...
How to Make Flexible Work Arrangement and Social Wellness Work
How to Make Flexible Work Arrangement and Social Wellness Work
“I feel socially awkward,” one HR manager at a major medical supply company said at the beginning of a virtual meeting as she described her first few days in the office without having to wear a mask. “It’s like that first day of high school as an awkward teenager. I don’t know how to interact with people comfortably anymore. Should I shake hands? Am I standing too close? Should I still wear a mask? It just feels so weird.”
Unfortunately, her reentry anxiety and uneasy experience are not uncommon today as mask mandates are lifted and more and more employees return to the office. It’s a far cry from the progress many companies made in creating a culture of employee wellness just a few short years ago.
The stark reality: the goal post has shifted for HR professionals. It’s time to reimagine what employee social wellness means during and after a pandemic, and how to help your people find their way back to health and happiness as they interact with their work community again.
Hitting the Social Reset Button
In many ways, the last few years have been a setback for employee wellness as we swung into safety mode, with most companies operating mainly with a work-from-home (WFH) model. Social isolation, inactivity and stress mixed to create a potent and intoxicating cocktail that has left us all with a bad hangover. According to Business.com, 19% of remote workers struggle with loneliness.
The good news is that with the worst hopefully behind us, HR professionals have a once-in-a-lifetime opportunity to start fresh and craft social wellness strategies and programs that can have an enormous impact on their valued — yet shell-shocked — workforce. With the darkness fading, these programs can shine brighter and are more important than ever today, leading to greater engagement and teamwork.
Social Wellness in a Hybrid Work Environment
So, what’s the best approach to addressing the challenges inherent in promoting social wellness with employees? At this stage in the pandemic, with the “all clear” signal still to come, many companies are in a hybrid mode. Sometimes employees work from home, other times they’re in the office. Since there are likely many more virtual meetings to come, try to prioritize some element of social interaction.
You could spend five minutes at the start of a meeting engaging participants in a fun sharing activity. For instance, have participants pick an item nearby and tell the group its meaning or any interesting story behind it. Ask employees to share recent family, pet or vacation photos in the chat.
It’s also important for managers to strengthen relationships with their direct reports and to make them feel supported. Managers can schedule monthly time with their team members for an unstructured, one-on-one chat. Position these sessions as a “safe space” to voice concerns or simply have a pleasant conversation about how things are going (make sure this doesn’t morph into an assessment or evaluation).
Social Wellness Beyond Hybrid
As we look to the (hopefully) near future where the workplace normalizes, there will be many more opportunities for HR departments to help their employees achieve social wellness and bolster team camaraderie. Opportunities to promote social engagement can include:
Volunteer or Community Projects: An element that brings people closer to nature or environmentalism — such as a lakeside cleanup or planting at a local garden — can motivate and stimulate.
Social Fitness Programs: Spin classes or martial arts combine physical fitness with human interactions for high-energy social wellness benefits.
Social Challenges: Stoke the competitive flames in your people that can naturally lead to social wellness. These can be fitness challenges — number of steps per day — or engagement milestones within a structured program.
Other incentives: Encourage employees to try new ways of interacting, such as a theater group program, a painting class or a culinary course.
The last few years have been the most challenging time for HR professionals. But, with a little creativity and strategic thinking, you can elevate social wellness to new heights, creating an engaged and collaborative workplace culture.
The information in this blog post is for educational purposes only. It is not investment, legal or tax advice. For legal or tax advice, you should consult your own counsel. To stay up to date on benefits trends and insights, subscribe to our blog.