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  • As inflation continues to hit U.S. workers, they struggle to pay for basic needs such as gas, housing, groceries, and much more. When inflation rises, the buying power of workers’ take-home pay shrinks. A study by the U.S. Bureau of Labor Statistics (BSL) showed that average hourly earnings fell 3.6 percent from June 2021 to June 2022. While wage growth rose to the highest it has seen in years during the pandemic, 55% of employees still say their earnings are not keeping up with the highest inflation seen in decades. This has forced many employees to look for other jobs that pay more, or for some, they had to take on side hustles to earn extra money to get through these challenging times.

    What To Do As A Business Owner

    Inflation has put more pressure on business owners to increase the wages of their employees. According to a study, 63% of businesses say they will adjust wages in response to inflation. Even after many employers increased wages, these increases haven’t been significant enough to cover increased prices for necessities. As a business owner, you understand the effects of inflation and how it affects your personal life, so you can only imagine its impact on your employees.

    If increasing the wages and salaries isn’t working with the detrimental effects of inflation, what else can you do? The following are ways you can support your employees during these unprecedented times:

    • Offer bonuses more frequently
    • Offer flexibility 
    • Provide competitive benefits
    • Promote from within
    • Offer career development

    Conduct A Market Analysis

    In addition to being creative with how you can offer your employees more money, a market analysis is an additional step you could take. A market analysis is a detailed assessment of your business’s target market and the competitive landscape within a specific industry. They typically include quantitative data such as the actual size of the market you want to serve, prices consumers are willing to pay, and revenue projections.

    In addition, conducting a compensation analysis reviews employee pay about an organization’s pay philosophy. It ultimately considers internal equity and external competitiveness to ensure your pay is fair and will attract, engage, and retain talent. During unprecedented times, you must stay competitive and do your best to attract and retain top talent.

    Partner With GMS

    As a new year approaches, you’re getting ready to kick-start the year strong. However, adding in inflation and dissatisfied employees makes it quite challenging. Fortunately, when you partner with GMS, we give you the resources you need to start the new year off the way you had planned. Our HR experts work with you to conduct a market analysis to ensure all employees are paid fairly and create salaries for future employees that are competitive enough for your industry. GMS makes your life simpler, safer, and stronger. Start the new year strong and partner with GMS. Contact us today.

  • Since the COVID-19 pandemic changed the health care industry, telehealth has emerged as an unexpected silver lining. Telehealth has improved access to care and has facilitated a transition toward digital medicine. During a time of hardships amongst individuals worldwide, telehealth enables virtual doctor visits when in-office visits become almost impossible. Now, telehealth is here to stay indefinitely.

    The Evolution Of Telehealth

    Telehealth, often referred to as telemedicine, allows your health care provider to care for you without an in-person office visit. It’s done primarily online with internet access on your computer, tablet, or smartphone. While telehealth has become increasingly important since the COVID-19 pandemic, it has actually been around for quite some time.

    One of the earliest uses of hospital-based telemedicine was in the late 1950s when a closed-circuit television link was established between the Nebraska Psychiatric Institute and Norfolk State Hospital for psychiatric consultations. Telemedicine became most prevalent in rural areas where populations had limited access to health care and could reach specialists from afar. Since then, technological advances have improved telemedicine efforts, but still resemble earlier telemedicine equipment.

    In the fall of 2020, nearly two-thirds of Medicare beneficiaries reported that their provider offered telehealth appointments, up 18% from before the pandemic. A survey was conducted regarding telehealth, and 69% of the respondents said that they use telehealth because it’s more convenient than an in-person appointment. In addition, 78% said telehealth made it easier for them to seek out health care when they need it.

    The Future Of Telehealth

    Given the rise and sustained higher use of telehealth since the COVID-19 pandemic, the following are trends to be aware of moving into the new year:

    • There will be restrictions on telehealth use, and reimbursements will be permanently lifted
    • Telehealth business models will continue to evolve
    • The types of care that can be provided through telehealth will continue to expand
    • Telehealth will serve as a catalyst to expand the range of mental and behavioral health services

    Telehealth will continue to be an essential means of delivering care to individuals across the United States. 

    What This Means For Business Owners

    Understanding the importance and the future of telemedicine is beneficial for any business owner. When providing your employees with a benefits program, it’s worthwhile to look into telemedicine options to offer them the resources they need. We all know that seeing a doctor in person isn’t always convenient. Depending on your doctor’s availability, you may have to deal with several scheduling headaches to get an in-person meeting. The convenience of telehealth saves you and your employees time by cutting out travel and sitting in waiting rooms. It also limits the need to take time off of work to fit an employee’s ailments into a doctor’s schedule and cuts out costly co-pays.

    Luckily, when you partner with GMS, you gain access to quick, convenient telehealth access. Affordable and convenient health consultations with licensed physicians are only a phone call or mouse click away through telehealth. Contact GMS today about adding telemedicine services to your business’s health plan to help your employees stay healthy and productive.

  • Over the past two years, small business owners have faced many obstacles. The COVID-19 pandemic forced businesses to shut down, pushing businesses to operate differently while facing labor shortages, a supply chain crisis, and increasing costs caused by inflation. This has left business owners questioning whether or not a recession will happen in the coming months. A recession is a significant, widespread, and prolonged downturn in economic activity. In a recent survey, 70% of small business owners dictated that they expect a recession within the next six months; however, significantly fewer respondents feel prepared to cope with it. The question of a recession is no longer if, but when.

    As a business owner, it’s crucial to consider what you can do to survive this recession. While most business owners have reported cutting costs where they can, others are contemplating changes that could impact the jobs market. In addition, business owners have considered decreasing their current insurance coverage to reduce operational expenses. So, since there is now a 98% chance of a global recession within the next 12 months, what steps will you take to ensure your business is prepared?

    Continue reading to learn how to prepare for a recession before it’s too late.

    Steps You Should Take As A Small Business Owner

    With the prediction of a recession coming in the next year, you must take every step possible to ensure the effects of a recession don’t blindside your business. The following are ways in which a recession could affect your business if you don’t take a proactive approach now:

    • Plummeting sales
    • Credit impairment
    • Bankruptcy
    • Employee layoffs
    • Benefits reductions
    • Decrease in asset prices

    However, rest assured there are approaches you can take to safeguard your business.

    Consider raising prices

    Whether you’re a business that sells tangible goods or even intangible services, you can certainly raise the prices of your product or service. Businesses are implementing this tactic to compensate for the lost revenue they see instead of laying off employees.

    Temporarily cut wages

    Employees are your biggest asset so losing them during a recession is never a good idea. While some businesses may have to resort to laying off their employees, try reducing your employees’ salaries first. This is an excellent approach to reducing the number of employees you lay off.

    Cut back on spending 

    You may think this is an obvious step in fighting the effects of a recession. However, many business owners don’t fully understand how to do that. As soon as you are made aware of a possible recession, it’s critical that you immediately review all expenditures and determine ways to reduce or eliminate unnecessary costs. The following are ways to cut back on spending:

    • Eliminate discretionary spending
    • Buy more strategically 
    • Stop paying for equipment you don’t need
    • Renegotiate your lease or move elsewhere
    • Eliminate unnecessary perks
    • Cut business travel 
    • Cut back on insurance expenses where applicable
    • Look for new vendors
    • Shop around for more competitive rates
    • Join a coworking space
    • Outsource business task

    While this is essential amidst a recession, cutting costs shouldn’t just be a periodic exercise to improve your bottom line. Throughout the year, consider where you could be cutting expenses – with or without a recession, the opportunity to improve one’s bottom line is always welcomed.

    Outsource Your HR Functions

    At GMS, we understand the word recession is the last thing you want to hear. When you partner with GMS, you gain experts in all areas of your business, including HR, payroll, benefits, and risk management, to ensure your business doesn’t go awry during a recession. Our competitive rates, partnered with our streamlined approach, can save your business thousands. Let’s combat this recession together. Contact us today.

  • While COVID-19 is winding down, employees are returning to work and trying to get back to “normal.” However, employers are still experiencing challenges in attracting new employees and retaining existing employees. During the COVID-19 pandemic, most employees could work from home. Now, employers are trying to bring their employees back into the office, forcing them to contemplate what they truly want from their jobs and commute. For the most part, employees have resorted to finding a new employer as a direct path toward their goals. In January 2022, 4.25 million individuals quit their job.

    Based on the new requirements employees are requesting, employers should consider implementing the following:

    • Providing remote or hybrid working arrangements
    • Expanding employee assistance programs to help with mental health and burnout
    • Increasing compensation and/or bonuses
    • Planning more frequent meetings with managers and employees regarding engagement levels and ways to improve them

    However, there is one solution HR professionals haven’t fully grasped to retain employees – technology. Continue reading to learn strategies in which technology can assist you with retention while providing a more positive employee experience.

    Leveraging Technology To Retain Employees 

    Technology can be utilized to retain employees and reduce turnover. Below are strategies you should begin implementing to provide a more positive employee experience.

    1. Conduct surveys 

    The first question to ask yourself is why your employees are leaving. Turnover, in most cases, results from employees feeling burned out or underappreciated. These feelings from your employee develop from poor relationships, lack of work-life balance, or maybe even from lack of growth opportunities. To combat these feelings, you must ensure you’re checking in on your employees. An excellent tool that helps with this is by conducting surveys. Employee surveys help keep track of and improve team collaboration and ensure that all employees feel valued and heard. Simply asking questions and providing employees the opportunity to make their voices heard can lead to more positive behaviors and, ultimately, lower turnover.

    The following are examples of questions you could ask to get the most out of your employee surveys:

    • How do you feel at work today?
    • Do you feel excited about coming to work?
    • Would you recommend this company to your friends as an employer?
    • Are you satisfied with your current compensation and benefits?
    • Do you enjoy working with your team?

    Once your employees complete the survey, it’s vital that you analyze the results and act to address your employee’s feedback.

    2. Professional development

    When business owners encourage their employees to seek professional development opportunities, they experience increased productivity and job satisfaction. Businesses that don’t offer professional development opportunities see greater turnover than those that do provide resources. While there are various programs out there used for professional development, a learning management system (LMS) has been one of the most common platforms. An LMS is a web-based platform or software application to implement and monitor a learning process. It’s used to deploy learning strategies across the workplace, facilitate experiential and formal learning, manage compliance training, and enhance sales enablement.

    3. Offer competitive pay

    Employee compensation is essential for employee retention as it helps businesses avoid the high costs associated with turnover. Compensation has been one of the main reasons employees change jobs. A study showed that 63% of employees reported low pay as a key reason they left their job in 2021. The loose labor market has given employees more leverage regarding pay and benefits. As the employer, you must determine the most competitive salary or pay for your employees to retain and attract the talent you need. By conducting a salary analysis, you can compare a specific position with similar roles within your industry to determine the proper pay. Perhaps you offer slightly over that number to ensure you stand out from similar organizations.

    4. Reward and recognize good performance 

    When business owners incorporate a reward and recognition program, it helps employee engagement which leads to many benefits for the company, including increased productivity and retention. By focusing on the positives, recognition initiatives convey that what employees do matters and are not unnoticed. When you reward excellent performance with benefits your employees want, it keeps them focused and driven to perform better. Starting a rewards and recognition program will:

    • Increase motivation
    • Show appreciation
    • Encourage friendly competition
    • Improve productivity 
    • Boost employee retention
    • Create a positive workplace

    To incorporate an employee recognition program, you can begin implementing the following: 

    • Weekly shoutout on social media
    • Conduct surveys to determine employee of the quarter, month, or even the year
    • Press releases
    • Newsletters
    • Internal software to acknowledge a job well done

    You can utilize many ideas to ensure you have the appropriate program set in place for your business. 

    5. Work/life balance

    One’s job plays a significant part in their life and takes up a huge chunk of each day. Our jobs ensure that we have a roof over our heads, food on the table, clothes on our bodies, and so much more. As a business owner, your job is to ensure that your employees maintain a healthy work-life balance. Work-life balance is defined as the state of equilibrium where a person equally prioritizes the demands of one’s career and the demands of one’s personal life.

    While showing up at work is essential for your business’s growth, your employees’ well-being is the most important aspect of your business. If your employees are sick or burned out, it will cost you now and in the long run. By creating a workplace culture that doesn’t feel like a chore, your employees will work hard, make fewer mistakes, and are more likely to become advocates for your brand.

    The following are tips you can use to improve work-life balance in your business:

    • Encourage time off
    • Implement short breaks throughout the day
    • Practice what you preach
    • Maintain a regular schedule for working hours
    • Establish a sacred work area
    • Support flexible hours
    • Empathize with and tolerate absenteeism

    Implementing cloud technology with your standard technology platforms allows your employees to access everything from any location. It gives your employees the flexibility of working from home and empowers them to be more productive while also managing their personal lives.

    Why You Should Outsource These Efforts 

    With the loose labor market, you must ensure you are doing everything you can to retain and attract top talent. At GMS, we understand how many tasks you handle day-to-day and know that it can be challenging to increase these efforts. We’re here to tell you not to worry anymore. GMS experts are here to help. From providing you with an LMS and cloud-based technology to creating benefits that will attract and retain the talent you need, we do it all in-house. Kalynn Muha, GMS’ Recruitment Specialist, expressed, “One of the most important aspects of an organization is their success, and employee retention promotes this. Hiring new employees is costly and consumes so much of the employer’s time. In addition, turnover can cause rifts in employee morale and low productivity. In today’s market, hiring is a long and tiring process. It’s more important than ever for business owners to retain their valuable employees before they go elsewhere.”

    Contact us today, so you don’t have to be part of the effects of the Great Resignation.

  • As business owners continue to face a tight labor market, companies have been searching for ways to stand out from their competition. While many businesses have resorted to increasing salaries and implementing hybrid work schedules, others have increased their benefit options. Researchers say that 51% of employees say that benefits play a significant role in talent retention. As 2023 approaches, finding ways to stand out from your competitors will be essential.

    Employer-Assisted Housing Programs

    Recently, businesses have begun helping their workers purchase homes by offering employer-assisted housing programs (EAHPs). EAH programs provide a channel through which employers can help their employees with the cost of owning or renting a home, typically in neighborhoods close to the workplace.

    The following are ways in which assistance could be provided:

    • Down payment grants
    • Loans
    • Homeownership counseling and education
    • Rental subsidies
    • Direct investment in the construction of rental housing

    Why This Is Becoming Popular

    The COVID-19 pandemic has affected everyone in various ways. Alongside that, inflation has increased prices for necessities for individuals to survive. 49% of Americans say that the availability of affordable housing in their community is a huge issue. In addition, mortgage rates throughout the U.S. have climbed over seven percent for the first time in 20 years.

    EAH programs help build employee loyalty and increase productivity through the following:

    • Improved morale
    • Enhanced employee work/life balance
    • Decreased absenteeism

    The unavailability of affordable housing makes it challenging for employers to attract quality employees. Employers can set themselves apart from their competitors when they offer housing benefits, ultimately improving their competitive position. A study showed that those who own homes often work harder and longer for their employer.

    Outsource Your Benefits Administration

    If retaining and attracting top talent is essential for you, you’ve come to the right place. Partnering with GMS provides benefits outsourcing services that allow your company to offer competitive, cost-effective benefits while you focus on growing your business. If providing your employees with EAH programs is too big of a step for you right now, we will work diligently with you to get you the benefits your employees want and need. Contact us today to learn more.

  • While the COVID-19 pandemic is winding down, the talent shortage is still the number one challenge businesses face. According to a study, 55% of business owners and recruiters struggle to find qualified applicants for open positions. In addition, it’s said that the U.S. is facing one of the most alarming labor crunches it has ever seen.

    Alongside the shortage of quality talent, Glassdoor conducted a study showing that the average cost of hiring an employee is around $4,000. On top of that, the average time it takes to hire a new employee is 42 days. As a business owner, you don’t have time to deal with such challenges and the amount it costs to hire one employee. Continue reading to see what HR professionals say about automated recruiting software.

    The Importance Of Automated Recruiting Software

    Businesses are rapidly adopting recruiting automation tools to help streamline their hiring process. One of the most significant benefits of using recruiting automation software is that it saves you time by automating tedious tasks, which include screening resumes, scheduling and conducting interviews, and engaging with the candidates through the entire hiring process.

    As a business owner, there is only so much time to handle these tasks in one day. Make it easier for yourself and utilize recruiting automation software. Once you have automation tools in place, you can quickly identify top talent, which leads to hiring candidates faster than ever.

    The following are reasons why you should leverage recruiting automation tools:

    • Increases productivity 
    • Improves quality of hire
    • Bias-free hiring
    • Assesses candidate skills effectively 
    • Reduces the time to hire
    • Reduces the cost per hire
    • Enhances the candidate’s experience 
    • Increases diversity 
    • Creates a more straightforward onboarding process

    Recruiting automation tools ultimately help you attract and engage candidates by giving them a positive experience. In today’s competitive market, ensuring you’re providing an excellent candidate experience is essential. While there are many recruiting tools available to you, it’s vital that you conduct your research and understand the goals you want out of the software to make your job easier.

    Let’s Find The Candidates You Want And Need

    While the right candidate is out there, it’s up to you to wow them from start to finish. With GMS as a partner, you can find the candidates you want and need. We understand that between the ongoing training and employee recruitment services, it takes extensive time and effort to find, hire, and develop the right people for your business. GMS provides the necessary tools and resources to take on these responsibilities while improving your recruiting, hiring, and training efforts. We work with you to create enticing job descriptions that will attract top talent, conduct the initial interview with candidates, and provide you with employee training software that will set your employees up from the beginning. Stop wasting valuable time in areas that GMS specializes in. Contact us today!

  • The Biden-Harris Administration has extended the COVID-19 public health emergency to January 11th, 2023. This concern has adapted from the speculation of a winter spike in COVID-19 cases. The COVID-19 public health emergency first made its appearance in January 2020 by the Trump administration and has been renewed every 90 days since.

    Recall: The Purpose Of The COVID-19 Public Health Emergency

    The declaration allowed changes throughout the healthcare system which included the free distribution of COVID-19 vaccines and treatments. Millions of Americans gained Medicaid coverage, telehealth services were authorized, and hospitals gained flexibility in responding to patient surges.

    In addition, it provided the federal government with the flexibility to waive or modify specific requirements in a number of areas such as Medicare, Children’s Health Insurance Program (CHIP), Medicaid, and private health insurance. Alongside these, Congress also enacted the following legislation:

    What Next?

    When the COVID-19 public health emergency ends, an estimated 5.3 million to 14.2 million individuals could lose their Medicaid coverage. The loss of Medicaid coverage has been named, “the great unwinding,” and could take as long as a year to complete.

    It’s vital for small business owners to provide their employees with the health insurance coverage they need. What happens when the public health emergency ends and you have employees who were enrolled in Medicare during that health emergency period? GMS does more than simply offer coverage like a medical insurance company. We provide our clients with various tools and resources to find a coverage solution tailored to their needs. Contact us today!

  • In its Quarterly Experience Report, the Workers’ Compensation Insurance Rating Bureau of California reported that written premiums were up by 27% due to higher employer wage levels and economic recovery following the COVID-19 pandemic. 

    The report concluded that:

    • California’s written premiums for the first six months of 2022 were 27% above that for the first six months of 2021 caused by the economic recovery.
    • The average charged rate for the first half of 2022 was 3% below that for 2021, making it the lowest in decades. 
    • The projected combined ratio for 2021, including COVID-19 claims, is eight points higher than in 2020 and 33 points higher than the low point in 2016. 
    • The average claim closing rates declined sharply beginning in the second quarter of 2020 due to the pandemic. After bottoming in 2021, average claim closing rates are beginning to increase in 2022. 
    • Medical service costs per claim increased by 3% in 2021, driven by an increase in the average paid per medical service transaction. 

    The Impact GMS Has On Your Business

    As workers’ compensation rates continue to climb in California, GMS can provide a better rate than what the state has to offer. Our workers’ compensation specialists help minimize your exposure, maintain records, and complete best practices that keep your business compliant with OSHA. Sharee Andrade, GMS’ Senior Director of Risk Management Underwriting expressed, “GMS helps businesses on all levels. We offer a robust workers’ compensation policy that covers 47 out of the 50 states, ensuring you stay compliant with state and federal laws. Our risk management team is yours as well. Our team of experts helps with underwriting, safety protocols within workplaces, and handle the claims process from start to finish.” Contact us today to learn more.

  • Assembly Bill (AB) 152 would extend California’s COVID-19 supplemental paid sick leave (SPSL) to December 31st, 2022. The California SPSL law is set to expire on September 30th, 2022, if Governor Gavin Newsom does not sign the bill. The law provides qualified full-time California employees with up to 80 hours of SPSL when they cannot work for the following reasons related to COVID-19:

    You are caring for yourself: 

    • Subject to a quarantine or isolation period
    • Advised by a healthcare provider to quarantine 
    • Experiencing COVID-19-related symptoms and seeking a medical diagnosis

    You are caring for a family member:

    • Child whose school or place of care is closed or otherwise unavailable for reasons related to COVID-19 on the premises
    • A family member who has COVID-19 or who is subject to a quarantine or isolation period

    Vaccine-related – you or a family member are: 

    • Attending an appointment to receive a vaccine
    • Recovering from symptoms of a vaccine

    How AB 152 Could Help Small Businesses

    If AB 152 is approved, it will establish the California Small Business and Nonprofit COVID-19 Relief Grant Program within the Governor’s Office of Business and Economic Development (GO-Biz). GO-Biz serves as the State of California’s leader for job growth, economic development, and business assistance efforts. The program would provide small businesses and nonprofit organizations grants up to $50,000 but “no more than the actual costs incurred for” SPSL between January 1st, 2022, and December 31st, 2022.

    In addition, employers would not be obligated to provide additional COVID-19 SPSL to employees who have already used their allotment for 2022. Employers should evaluate whether SPSL obligations pertain to their employees and whether they qualify for the small-business grant relief.

    GMS Is Here For Additional Support 

    While rules and regulations are constantly changing for small business owners, GMS experts are here to set you at ease. Our team partners with small business owners to take on the HR administrative burdens that shouldn’t stop you from growing your business. We will keep you up-to-date on rules and regulations vital to your business. In addition, we provide small businesses with benefits outsourcing services that allow your business to offer competitive, cost-effective benefits. Contact us today.

  • Many businesses have been forced to adapt to new working conditions due to the COVID-19 pandemic. As a result, many workers maintain a hybrid or remote work schedule. With the rise of remote employment, the focus has shifted to developing clear communication. This is vital to employers being able to communicate and meet the needs of their employees. Another major concern for employees stems from rising inflation and talk of an upcoming recession. This is the time when employees look to their employers for guidance. Let them know you care during the open-enrollment period by developing a plan that fits everyone’s needs.

    Communication Means Success

    As open enrollment is approaching, the need for effective and open communication is the biggest asset employers can implement. It’s imperative that employees have access to all information about each plan and can ask questions about it. Employees want to communicate with their employers. As the open enrollment period begins, they will be looking for guidance. Developing an open line of communication will create a happy, healthy, and productive workforce.

    Virtual communication is not likely to change anytime in the future. Even as businesses welcome their employees to return to in-person positions, virtual communication is here to stay. At the click of a button, employees can access their information when and where they need it. This will allow employees to understand their benefit plan offerings. When there is easier access to learning, employees will be more likely to take advantage of the offerings provided.

    GMS Steps In

    Many employers question which benefits their employees want to see during the open enrollment period. GMS can help you develop a plan that is right for your employees, along with creating a personalized experience working with a benefits account manager. Finding a plan that fits your business during open enrollment can be overwhelming. Let GMS simplify the process every step of the way, easing the line of communication with your employees. Contact us today to learn more.