P4pbenefits

Retirement Benefits

2. Staffing Levels and Staff Stability accounts for 40% of the overall score for P4P. P4P will utilize the Department’s annual Nursing Facility Wage Survey, typically administered in October of each year.
Two Components
A . Nursing Staffing Levels 20%
Comparing staffing levels to facility census and applying a standard PPD, P4P has established an acuity adjusted goal for each facility. A facility is then scored on it’s own staffing in comparison to their “adjusted goal”.
B. Nursing Staffing Stability 20%
Stability” will be determined by reviewing the percent of nursing employees > 2 years of employment with the facility.

7 th annual MetLife Study of Employee Benefits states that in 2009 most particularly during this recession, the employees…
Have a heightened focus on benefits this year more than most.
EVEN if 100% employee paid
Have a change in attitude with a strong shift towards financial ownership and loyalty (significant increase from 2008)

40% of employees say that benefits play an important role in their decision about whether to remain with an employer or make a change.
46% of the employees are concerned that the economy will cause the employer to reduce it’s match on the 403b or 401k.
68% of employees feel unprepared to face critical financial situations if the principal earner can no longer work.

51% of employees desire financial planning advice in the workplace however only 14% of employers offer such assistance.
50% of employees have an interest in converting “retirement plan” lump sum into “income for life”.
However only 27% of employers are working towards this

Based upon the average worker, ages 31-40, their benefit ranking of “Benefit” prioritization is as follows for both Employee and Employer
Benefit Employee Employer
401K 51% 19%
Personalized Benefit package 46% 1%
Retirement Planning Seminars 44% 1%
Benefit Advisors 43% 10%
↑ variety of Voluntary Benefits 40% 17%

P4pbenefits

by Glass Jacobson on Jul 28, 2010

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P4pbenefits — Presentation Transcript