R.W. Benefit Communications (RWBC) today released the following case study conducted in cooperation with Huntsville Hospital.
Scottsdale, AZ (PRWEB) November 20, 2006 -- R.W. Benefit Communications (RWBC) today released the following case study conducted in cooperation with Huntsville Hospital. Romy Wightman, president of RWBC, has more than 20 years of employee benefit experience and maintains the company's focus on providing customized benefit statements for employers of all sizes. Huntsville Hospital began treating patients in 1895, and currently services people throughout north Alabama and southern Tennessee. The Hospital is one of the largest locally owned not-for-profit hospitals in the nation with a medical staff of physicians who are supported by 5,000 employees, including nearly 2,000 nurses.
The following Case Study can be found in its entirety at: http://www.benefitstatements.com/news.html#HUNTSVILLE.
According to LeAnn Thieman, author of Chicken Soup for the Nurse's Soul, it is estimated that by the year 2015, the United States will be short 500,000 nurses. Additionally, 30% of nurses under the age of 30 plan to leave their jobs within the next year. These two facts alone give cause for employers in the medical community to take immediate action in their recruiting and retention practices.
The employment climate at medical facilities is such that trained nurses and medical administrators have a bounty of employment opportunities at their disposal. Private clinics, private physician offices, hospitals, and homecare practices are all vying for the most talented candidates. In fact, filling and retaining employees in these positions has become so difficult, facilities are beginning to outsource nursing because they cannot staff the positions internally.
It costs a company 25% of salary plus benefits to replace one employee. In other words, it would cost $15,000 to replace one employee that is making $50,000 in salary plus $10,000 in benefits. And this is for only one employee. Huntsville Hospital recognizes the current industry crisis and has wisely invested in proactive steps to educate its employees of their total compensation package in order to improve retention in an extremely competitive market.
An employee's total compensation package goes far beyond a weekly paycheck. It includes average pay, bonuses, sick days, holiday pay, vacation pay, 401k or other retirement benefits, training, and even company parties. Employees who are seeking new employment make a vital mistake if they only compare paycheck to paycheck.
Despite budget challenges, Huntsville Hospital came to RWBC to assist them in developing a comprehensive, professional, and personalized benefit statement for more than 4000 of their employees.
Huntsville Hospital understood that in general, its employees were only interested in visiting their benefits situation once a year - usually during open enrollment. The hospital, along with RWBC decided that the best timing to provide the benefits statements would be just prior to open enrollment in order to assist their employees in making informed enrollment choices for the upcoming year.
The standard yet strategic information RWBC included in benefit statements for Huntsville Hospital was an overall explanation of the benefits statements. Next, was a detailed list of benefits, such as insurance, disability and 401k rewards. This list was followed up with the employee's base pay and other pay, which are only a portion of the value of the total compensation. All of this information was also laid out in colorful pie charts which are included in every personalized statement.
The second page of the benefits statement demonstrated the hospital's commitment for their employees' work and life balance, as well as their healthy well-being. Interspersed with tips on wellness, this section indicated the employee's paid time off, and went into detail about medical, dental, life, disability insurance, as well as Flexible Spending Accounts. Also included was a list of benefits that employees frequently do not consider as part of their total compensation package, such as service awards, child development centers, tuition reimbursement, free parking, and an onsite Notary.
RWBC wrapped up the benefits statements with comprehensive information and charts indicating personalized retirement benefits and retirement projections for the future. This last page also included key contact information for all insurance plans, as well as a link to Huntsville Hospital's Self Service online web site.
Huntsville Hospital's human resource department was inundated with emails, letters, and words of praise from its employees at all levels. The cost of turn-over is so high, if the hospital was to retain just one person, it would more than pay for the statements.
The employees said that the benefits statements were appealing, highly professional, and best of all, easy to read and understand on a very personal level. At the prime time when employees were already evaluating their benefits enrollment, the benefits statements encouraged employees to see the big-picture of the value of their compensation.
According to Jennifer Holly, Director of Human Resources at Huntsville Hospital, "Providing RWBC Benefits Statements for our employees was the best public relations move we could have done for our department, and the best morale boost for our employees."
To read this Case Study in its entirety, please visit www.benefitstatements.com or click on http://www.benefitstatements.com/news.html#HUNTSVILLE.
Media Contact:
Melanie McBride
McBride Communications
T: 480.773.7754
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