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As an HR professional, you know how hard it can be to keep all of your ducks in a row. Managing the long list of humanresources (HR) tasks, whether they’re annual, quarterly or everyday processes, can be overwhelming. “Streamlining your HR responsibilities is key to departmental efficiency.”
Several trends in traditional and non-traditional benefits are poised to transform the HR and benefits landscapes. GENERAL TRENDS Rapid technological advancements and shifting employee expectations have added another layer to recruiting and retaining top talent.
It may be a bit of a trope, but it is also a truth: as an HR professional, your work is never really done. An HR department is tasked with many duties that are cyclical in nature—recruit, hire, replace—as well as tasks that demand constant attention or reinvention. A strong company is a direct result of the people behind it.
It may be a bit of a trope, but it is also a truth: as an HR professional, your work is never really done. An HR department is tasked with many duties that are cyclical in nature—recruit, hire, replace—as well as tasks that demand constant attention or reinvention. A strong company is a direct result of the people behind it.
Quick look: By 2026, the HR outsourcing market is expected to grow by $10.90 Here, explore the latest HR outsourcing trends, including the various types of HR outsourcing companies, which HR duties SMBs are offloading the most, and how to choose the right partner to help your organization simplify its workload and succeed.
As I have said before, every organization operates inside a distinct labor market and only by understanding the overall economy and relevant labor markets, both macro and micro, can one make informed decisions and plan a smart talent strategy. Job losses starting in spring 2020 were concentrated among the lowest earners.
When you can’t always offer a higher salary than your competitors, a big difference maker can be found in your employeebenefits. Big-ticket benefits like health insurance are obvious favorites, but less expensive perks like flexible work and earned wage access also attract job seekers.
That’s down from 49% in May of 2020. At most, 15% of employees strongly believed their employer supported any one element. Only a quarter of respondents would recommend their employer’s well-being initiatives and resources to friends and family. Quick-to-read HR news & insights. Subscribe to HR Brew today.
employers are shuffling their employeebenefits priorities for next year, according to a new survey, moving away from new mental health initiatives and instead prioritizing efforts to control rising healthcare costs. 1 focus for new benefits initiatives at organizations with at least 500 employees.
As we look toward 2021 and beyond, PEOs, including Genesis HR Solutions , are uniquely positioned to provide opportunities and positivity to our clients. The predecessors to PEOs first appeared in the 1970s in response to employers’ need for staffing and humanresource administration. 4 PEO Trends To Watch In 2020 & Beyond.
Welcome, once again, to HumanResource Executive ® ’s Top HR Products contest. Our annual awards spotlight 10 of the most innovative new solutions on the market that are helping business leaders meet the ever-evolving HR needs of their organizations.
That has created a cascade of HR transformations—along with opportunities—many of which are being helmed by Conrad Riddle, vice president of HR shared services. Riddle is one of HumanResource Executive ‘s five HR’s Rising Stars for 2023. nonprofit. “I
employers look to bring in talent with inclusive workplaces that center employee needs, more are expanding their benefits portfolios to include fertility-related coverage. Advertisement - According to a recent survey by the International Foundation of EmployeeBenefitPlans, 42% of U.S.
Even in the midst of the pandemic in 2020, 37% of workers rated their financial wellness as excellent or very good. For example, an employee may not be able to go to work because they cant afford to fix a flat tire. Were looking at this as a benefit for when life happens, said Sanchez. Quick-to-read HR news & insights.
Per HRI, the medical cost trend is defined as the year-over-year percentage increase of projected cost to treat patients (assuming benefits are the same). Part of the increase is due to the bounce-back utilization of healthcare spending following the abrupt halt in 2020.
Since joining the company four years ago, Kenslow said many of her clients have asked about benefits that will address their employees’ top concerns. For many, that includes family planning. Mental health is also top of mind for employees, Kenslow said, as is financial stability. Quick-to-read HR news & insights.
civilian workers “had access to paid sick leave” — increasing slightly from 78% in March 2020. 29% received paid sick leave as part of a consolidated leave plan (e.g., Be clear about what constitutes “sick leave” to reduce misunderstandings and confusion among your employees. Answer to see the results. a PTO bank).
We have compiled the latest stats, arming you with all the data you need to make informed decisions when looking at your hiring plan. HR Challenges in Manufacturing. Tips For HR Practitioners in Manufacturing. Manufacturing growth slowed to a 19-month low in January 2022, while demand for manufacturing goods remained high.
For much of 2020, many finance teams were forced to shift their focus from maximizing profitability to simply staying operational. That makes workplace health and safety very much a financial issue as well as an HR issue. Lost-time injuries per employee. Projected employee turnover rate. Frequency of equipment issues.
Quick look: It’s National Retirement Security Month, making it the perfect time for brokers to equip clients with the tools and resources needed to help their employeesplan for a secure financial future. Part-time workers may qualify for employer retirement plans more quickly. workers is reaching retirement age.
June 4, 2020 /PRNewswire/ — PeopleStrategy, Inc.® From financial wellness and employee engagement to risk management and compensation planning, PeopleStrategy Network Partners represent the latest HR technologies and trends. EDISON, N.J., About PeopleStrategy, Inc. Learn more at peoplestrategy.com.
Open enrollment may be the last thing on the minds of HR teams across the U.S. right now with all of the challenges resulting from COVID-19, but it is a topic you will want to focus on soon especially if you anticipate changes to the benefitsplans you will offer. The number of employees that changed benefit selections.
This month, HRE is helping HR leaders prepare for the year ahead with a series featuring insights from industry experts, thought leaders and others about what we can learn from 2020 and the challenges coming in 2021. Where could HR leaders have done a better job? Read the series here. *. Pryor: There’s plenty of data.
There’s no getting around it – employers pay a hefty sum to provide health care benefits for their employees. per hour, per employee, for health-insurance costs, according to Sept. 2020 data from the U.S. percent, according to Mercer’s National Survey of Employer-Sponsored Health Plans. These aren’t low numbers.
More than 80 percent of employers are concerned about retaining employees — and with good reason. Almost half (43%) plan to look for a new job in the next 12 months, according to research from global staffing firm Robert Half. . More on How to Retain Employees. Choosing the Most Important Benefits to Employees in 2020.
What Healthcare HR Teams Can Learn From 2020 Jan. Here are some of the things that healthcare HR leaders can learn from the novel coronavirus pandemic. In the world of COVID-19 , healthcare HR professionals have had to take a new view of their policies for both clinical and non-clinical employees.
Top HR challenges in 2021 and how to overcome them. The most pressing issues in humanresource management and what organizations can do about them. Employers made difficult decisions to navigate COVID-19 in 2020 but it’s unclear what the lasting impact of those changes will be. 48 percent said employee engagement.
2019 was an exciting year for humanresources and benefits administration. What do these changes and trends mean for HR professionals and teams in 2020 and beyond? In this edition of ‘ Ask The Industry ’, we spoke with 20+ HR experts from across the nation on what their top predictions are for the upcoming year.
Choosing the most important benefits to employees in 2020. Increase employeebenefits participation and engagement with our three-step strategy. How to Choose the Most Important Benefits to Employees in 2020. Step #1 Audit Your Current EmployeeBenefits .
Quick Look: Adapting to trends while also focusing on what employees really want is essential to maintaining low turnover and an engaged work environment. SHRM has recently published its 2022 EmployeeBenefits Survey which shows the trends worth paying attention to as employers prepare for the upcoming benefits renewal season.
The Society for HumanResource Management (SHRM) recently released its annual employeebenefits report, highlighting employeebenefits trends for 2020. The report gathered information on the types of benefits companies currently offer their employees or those they plan to offer in the next 12 months.
Quick look: The 2023 SHRM EmployeeBenefits Survey highlights the shift brokers are experiencing in how clients are prioritizing employeebenefits. Therefore, rather than viewing the future of employeebenefits as an “out with old, in with the new” situation, it’s better to welcome a co-mingling of the two.
A well-designed employeebenefits strategy will help your organization navigate through an ever-changing candidate market. Understanding your employees’ needs and designing a crafted solution is one of the most critical aspects of successful HR management. Contents What are employeebenefits?
As an HR leader, you’ve undoubtedly had to deal with a lot of process changes in the space of just a few months – in many cases, making more adjustments than other parts of your organization. A virtual open enrollment process will be HR’s best bet this season.
As open enrollment season approaches for many employers, new data shows that an increasing number of HR and benefits leaders are going retro with their healthcare plans—by expanding their limited health plan offerings. And that erosion is likely to continue into this year’s open enrollment, healthcare experts say.
Preparing for virtual open enrollment in 2020. How employers can utilize employee data and streamline communications for successful virtual open enrollment. Employers are preparing for virtual open enrollment as many employees continue to work remotely during the COVID-19 pandemic. Preparing for Virtual Open Enrollment in 2020.
Quick look: The economic impact of 2020 on women in the workplace guided many companies toward offering women-specific employeebenefits as part of their larger diversity, equity, and inclusion (DEI) initiatives. Between 2020 and 2022, over one million women left the workforce, which accounted for 63% of jobs lost.
Health and wellness benefits insights for 2020. Where employeebenefits are missing the mark and how employers can reduce work-related stress. Aetna’s Business of Health 2020 report looks at some of the greatest challenges employers face maintaining a healthy workforce and improving business performance. .
Your plan may differ according to your industry or organization, but the need to generate an exciting, creative launch campaign that drives maximum employee engagement is universal. The great thing about planning an intranet launch phase is that there is no one “right” way to approach it. Planning an intranet launch campaign?
During furloughs, employeebenefits usually continue, which is one of the ways in which furloughs are distinguished from layoffs, where benefits generally end either on the last day of work or at the end of the month. These employers need to be ready to provide mandated leaves starting on April 1, 2020.
Chances are, you’ve probably heard about student loan repayment as an employeebenefit. Many large employers have rolled this handy financial wellness perk into compensation packages as a way to attract and retain talent (notably, millennials) and provide better financial wellness support to employees across the board. .
Earlier this year, MetLife released a study showing how much benefit satisfaction had dropped between 2020 and 2023. Part of the reason was due to the shift in benefit expectations post-pandemic , going beyond the traditional health and 401(k) plans. This includes offering a competitive benefitplan.
As employers look ahead to 2024, the labor market doesn’t appear to be easing much, meaning talent acquisition and retention won’t get any easier for HR leaders. However, experts say that traditional and newer benefits can play a critical role in helping attract and retain top candidates and employees.
2019 was a busy year in humanresources and employeebenefits. Several states issued new laws that expanded regulation on everything from parental leave to classifying contracted employees. What do these changes mean for the future of HR in 2020 and beyond? Employee Assistance Programs.
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