1. Total Rewards/Actuarial Approach to Redesign Tme Off/Absence Programs to Improve Operations, Employee Attraction, Retention, Satisfaction & Well-Being with Reduced Costs
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Thomas A Ference
President & CEO
Human Resources Mining & Distribution Co
Locating, Validating and Accelerating HR  Innovation
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2. Actuarially Driven Time Off Program Redesign
Employment candidates and current employees attach a disproportionate value to time off programs relative to their actual value.
At the same time, many benefits, finance and HR people cannot even determine the actual value, which is often costlier than the employer’s own medical benefits program.
This firm deploys a consulting process designed to weave time-off benefits into the fabric of the employers’ total rewards strategy and better support the desired culture.
The process defines current state (including current employee behaviors, gaps and overlaps, etc.) and develops a philosophy that leads to defining a future state for the programs.

3. Actuarially Driven Absence Program Redesign
This results in the design of revised programs that will achieve desired outcomes.
The above process includes actuarial modeling to develop financials and identify gainers and losers, the solicitation of employee / leadership feedback and a regulatory compliance assessment.
A detailed implementation plan is also developed that considers administrative infrastructure, tracking and reporting systems, communication, training and success metrics.
Typical results include significant reductions in unscheduled absence, while at the same time improvements in employee well-being and employee relations leading to better attraction and retention rates

4. Actual Value Determination Issues
Programs & Policies
Potential Issues
PTO/Vacations
Holidays/Personal Days
Military/Jury Leave
Bereavement Leave
Sabbaticals
Maternity/Paternity
Incidental/Sick Days
STD/Salary Continuance
LTD
Worker’s Compensation
Family Medical Leave
Wellness/Disease Management
Behavioral Health/EAP/Work/Life
Marketplace Competitiveness
Perceived Value/Actual Value/Liability
Litigation Costs
Operational Impact
Tracking, Metrics, Reporting
Gaps and Overlaps
Compliance/ADA/FMLA/State/Local
Private Letter Rulings/USERRA/PDA
Abusers and Losers
Burnout/Breakdown/Safety
Return-to-Work / Durations
Income Protection
Collective Bargaining

5. Redesigned Absence Program Development Process
-Gaps & Overlaps
-Employee Behaviors
-Cost Analysis
Current Absence Programs
Assessment
Philosophy
&
Future State
Key Stakeholder
Input
-HR
-Finance
-Risk
-Operations
Revised
Programs
Actuarial Modeling
Gainers/Losers
Compliance
Stakeholder Feedback
Reduced Program Costs
Improved Employee Relations
Productivity Increases
Improved Attraction/Retention
Budget & Metrics
Administrative Infrastructure
Tracking/Reporting
Communication/Training
Custom Metrics

6. Case Study 1 – PTO and Disability
A midsize employer (2,000 employees) faced complaints from employees about the reliability of staff, high levels of unscheduled absence, inordinate amount of time spent dealing with unscheduled absences and significant associated costs and liabilities
The employer wanted to streamline its time off programs, make the programs easier to manage, reduce the amount of gaming between the programs, promote equity, and improve tracking and accountability
Through a collaborative process, guiding principles were developed and the desired impact on culture and behaviors identified to serve as the foundation for the new program design process
A new program was financially modeled, identifying the various provisions to be changed, the potential winners and losers and financial impact
The results included 1) an improved workplace culture, 2) more accountable and reliable workforce as measured by a 52% reduction in unscheduled absence and 72% reduction in extended absence and 3) improved employee relations as measured by 95% reduction in related employee relations issues, 29% reduction in high performer turnover and 36% increased low performer turnover

7. Next Steps
This product/service is contained in the HR Specialty Products & Services Catalogue™
Operational level details about this particular service provider can be obtained in conference with the vendor
The HR Mining & Distribution Co. is an independent and contracted representative of the vendor
Upon your request, we will arrange for an introduction that can range from a simple, quick conference call to a services overview / system demo
Tom Ference (Chicagoland area) or
Thank you for your potential interest in this fresh thinking