This audio conference was recorded on Monday - April 20, 2009

Credits:

This program has been approved for 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org. The use of this seal is not an endorsement by HRCI of the quality of the program. It means that this program has met HRCI’s criteria to be pre-approved for recertification.

Description:

Many employers have discovered that layoffs alone won’t repair their bottom lines in today’s ailing economy. The next step? Fringe benefits – everything from healthcare coverage and retirement plans to childcare services and education programs – are on the chopping block.

Cutting back on employee benefits will become the norm in many U.S. workplaces in 2009, says a brand-new nationwide survey of employers:

• 46 percent have raised (or plan to raise) the percentage that their workers pay for healthcare premiums.
• 24 percent will reduce their matches for employee contributions to 401(k) plans and other retirement benefits.
• 41 percent have begun cutting other employee benefits, such as childcare services and tuition reimbursement.

These financial pressures will put you on the hot seat this year, as you struggle to control and reduce benefits costs while keeping your stressed-out workers happy and focused on their jobs.

Speaker(s):

Mark Combs, REBC, RHU, CLU, CFA, CFP, ChFC, is vice president and a partner in Horne/Guest, a nationwide, multi-million-dollar employee benefit advisory practice based in Mt. Pleasant, South Carolina. His firm is one of the largest employee benefit advisory firms in the southeastern United States, counseling many successful employers and corporations around the country. He writes and speaks extensively on employee benefits trends and strategies, with an emphasis on helping employers get the maximum possible value from their benefits programs and automating benefits processes to make life easier for them. He earned his bachelor’s degrees from Wofford College.

You and your colleagues will learn:

• Proven strategies for analyzing, comparing, managing, and reducing fringe benefits costs in today’s economic environment
• How to audit your existing fringe benefits and find the proper benchmarks to see how you stack up against other employers these days
• The best practices for shopping around to identify the best benefits vendors to fit your needs - and, when you find them, how to negotiate the best deals
• How to communicate changes in your fringe benefits to employees without alienating them
• Which fringe benefits could actually help you rein in HR costs this year and beyond
• How to involve your employees in managing their fringe benefits expenses and making decisions about potential cutbacks
• What types of nonfinancial benefits you should consider adding in your workplace