Category: Insurance Protection

With the unprecedented talent shortages being experienced in just about every industry and geography, employers have been turning to less conventional approaches to enhance job offers. One such approach becoming more widespread is a signing bonus. While this is not uncommon for more senior level positions, it’s traditionally not as prevalent among entry level new hires. Recent examples include:

• Amazon offered a signing bonus of up to $3,000 to warehouse and logistics applicants as part of its massive holiday hiring initiative. Bonus amounts varied based on geographic market, part-time vs. full-time status, work shifts, etc.

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  Digital Trends in Healthcare Benefits

  By: Kevin Davis, Vice President & Senior Employee Benefits Consultant, Univest Insurance, LLC November 4, 2021
  

  Due to the ongoing COVID-19 pandemic, healthcare companies have been forced to accelerate their digital transformation efforts out of necessity. We have seen more and more companies become comfortable with digital-first interactions and it seems that the old model of benefits administration is long gone. Even before COVID-19, digital was a goal for many companies. This stemmed from a commitment to improving the consumer experience as well as making healthcare and benefits more accessible and understandable. The pandemic has sped up the evolution.

  For many companies, work-from-home arrangements remain in place, so there isn’t going to be a traditional enrollment…

October is National Fire Safety Month. Although the prevention of residential fires is the focal point of the month, employers should also spend some time reviewing workplace fire safety and prevention as it pertains to employees, equipment and property. In 2019, there were 99 occupational fatalities involving fire according to the U.S. Bureau of Labor and Statistics.

Here are some steps to help prevent or prepare for a fire-related emergency at your facility:

1. Practice good housekeeping throughout your facility to eliminate potential fuel sources as well as trip hazards when evacuating the premises.
2. Maintain the proper…
   

It’s imperative that insurance brokers do our part to raise awareness about the importance of cybersecurity for individuals and businesses. Cyber insurance is a component of a healthy cybersecurity strategy yet many businesses, both small and large, continue to operate without proper coverage. I recently sat down with Travis Whitmill, Vice President of Evolve, a nationally recognized cybersecurity insurance specialist, to discuss everything cyber insurance.  Evolve was named “Advisen Cyber MGA of the Year” in 2020 and 2021.

1. Cyber insurance is still foreign to many businesses. How would you describe it in 30 seconds to a business owner?

Cyber insurance provides coverage for…

Prolonged medical absences with indefinite timelines and lack of clear justification can be paralyzing to business leaders and HR managers, particularly in smaller work environments. Although employers may feel entitled to more information than the employee is providing, they may not be entirely clear about the implications of asking for medical documentation.

Employers with less than 50 employees not subject to the Family & Medical Leave Act in particular, may adopt less rigorous procedures when dealing with medical leaves. And, in what I’ve seen become more of the norm, employers in this space are not requiring documentation from employees to…

As we shift towards a post-pandemic normal with more people returning to the office and construction and seasonal job markets increasing their workforces, it is important to remember that employers must prioritize safe work practices. You should revisit the policies that your company has implemented to ensure the safety of your workforce, remind your employees of required practices and consider if anything needs to be updated.

One of the most common risks on the job is falls. While we commonly think falls occur at height, falls also occur at ground level. To reduce or eliminate the potential for a slip and fall…

What is your company’s culture and engagement strategy? Employers who embrace the power of cultural fundamentals and have strategies in place to communicate their culture and promote employee engagement are in a position to accomplish more. By incorporating your company’s principles into daily business practices, you can cultivate a high-performing culture that drives performance and encourages employees to work together to serve their customers and communities. When an engaged workforce follows a common set of fundamental behaviors, it results in success.

At Univest, we highly value our culture and truly believe it drives performance. We also realize that culture isn’t…

Workers’ compensation is a required benefit that all employers must provide for their employees. By 1949, it was adopted by all 50 states and it used to pay for lost wages and medical bills when an employee is injured on the job. Some employers look at workers’ comp as a sunk cost or a cost of doing business. These businesses typically spend more for workers’ comp than businesses that work to proactively improve their safety culture and minimize on-the-job accidents. The rate in Pennsylvania for a carpenter can range from $5.91 per $100 of payroll to as much as…