Summary
What happens when benefits renewal costs rise 15% to 50% while wages rise 3%? In this episode of Beyond the Paycheck, host Kelsey Willock Jones sits down with Chuck Heaton, Vice President of Human Resources and Chief Compliance Officer at Perma-Pipe, to talk about the "Armageddon year" brokers are warning about and whether it marks the beginning of the end of company-provided benefits. Drawing on more than 30 years in HR across textiles, retail, oil and gas, and manufacturing, Chuck shares why payroll errors are same-day emergencies for people living paycheck to paycheck, why the spouse or partner is often the real benefits decision maker at open enrollment, how a total rewards transparency play won a union over to company benefits, and what fiduciary responsibility really means for employees' retirement money. A candid conversation for HR, benefits, and finance leaders navigating the toughest renewal cycle in decades.

Chapters

00:00 Welcome and Chuck's path through 30 years of HR

03:05 A first paycheck at Shaw Industries and where the money went

05:00 Payroll errors are same day emergencies

06:55 The spouse is often the real benefits decision maker

07:45 Supporting the whole person without wasting benefits spend

09:30 The total rewards play that won over a union

12:05 The benefits Armageddon: renewals up 15 to 50%

15:35 Fully insured, self insured, and the stop loss squeeze

16:55 Financial wellbeing and a company's fiduciary duty

21:10 Staying current with brokers and peer networks

Takeaways

Benefits renewal costs are rising 15% to 50% this year while US wage increases sit around 3 to 3.5%, and the usual fixes of switching carriers and raising deductibles are running out of road.

Payroll errors are same-day emergencies, not next-cycle fixes, because employees living paycheck to paycheck face immediate rent, mortgage, and late-fee consequences.

The spouse or partner is often the real benefits decision maker, so open enrollment communication should reach the household through home mailers and sessions partners can attend.

Total rewards transparency changes behavior: showing employees exactly what the company spends on their benefits won a union over to company coverage.

Companies carry a true fiduciary responsibility for retirement money, from lowering 401(k) fees to educating employees on the real cost of loans and hardship withdrawals.

Connect with the Guest
LinkedIn: https://www.linkedin.com/in/chuckheaton/
Website: https://www.permapipe.com

Sponsor

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