Employee Lifestyle Spending Accounts (LSAs) are one of the most sought-after benefits in HR outside of the traditional health and retirement stack. In an ongoing pandemic and resignations rising to an all-time high, employees are looking at what an organization can do to enhance and better their lives.
Globally, we are in an employee market and that is not likely to change in the foreseeable future. Retaining the talent a company has while attracting every available force is skyrocketing innovations that take care of people, not just at a base level, but extending to meet them exactly where they are.
Companies have expanded LSAs from basic gym membership and tuition reimbursement to include total wellbeing, mental health, elder, child and pet care, and work from home aides including ergonomic setups. As an employer designs an LSA, they can offer the ultimate flexibility and inclusivity to employees wherever they are, and around the globe.
In this accredited track, we will discuss everything you need to know to not only get started with LSAs but also gain consensus with leadership for budget approval. We will also break up the session into four 15-minute segments to hit the most critical areas of LSAs, so you leave with an SHRM and/or HRCI credit and a well-rounded and deep knowledge of how to create an immediate and actionable plan.
Watch on-demand without accreditation
Part One: LSA Basics
- What is an LSA?
- LSAs versus other plans, e.g., HSAs, FSAs, HRAs
- Tax implications for budgeting
- LSAs as a component of an employee Total Rewards package
- Sample LSA plans and creative ideas on how to use them
- The basics of LSA implementation – HRIS and payroll connection
Part Two: Understanding LSA, a Deep Dive
- What’s possible with LSAs
- Total Wellbeing that lives up to its name, including mental health support
- Tuition reimbursements and allowances
- Commuter benefits
- WFH and ergonomics
- Communications (mobile phone, internet)
- Allocation of 401k match vs LSA – ultimate employee choice
Part Three: LSAs as a Global Benefit
- Equalization and inclusion across the globe
- Localization of language and currency
- Purchase Power Parity
- Multi-region payroll implications
- Global support
Part Four: Getting Creative with LSAs
- Gamifying LSA allowances
- Earned allowances
- Connecting challenges to LSAs
- Recognition and LSAs and how they play together
- Example programs
LSAs are employee reimbursements reimagined to embrace every employee – and by design is the great equalizer.
Join us for this one-hour-long session to get an exciting view into what’s possible.