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In 2025, several top-tier HR software solutions are tailored specifically for the healthcare sector. The software also provides robust compensation and benefits management, ensuring that healthcare professionals receive timely and accurate payments. Payroll & benefits management : Automates compensation and benefits.
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. This change will go into effect January 2025.
Quick look: As 2024 comes to a close, it’s time for HR professionals to review, reflect, and fine-tune their processes to ensure compliance, enhance employee satisfaction, and streamline operations. Two critical tasks: ✓ Review benefits enrollment: Make sure changes in employeebenefits for the new year are processed correctly.
Under the new benefit, which will be available to eligible employees starting in January 2025, Walgreens will contribute up to 4% of workers’ eligible compensation to their 401(k) accounts when they make student loan payments. of their income to retirement over a three-year period, on average, compared with a 5.7%
These trends underscore the continued evolution of HR technology as a critical enabler of business success, especially as companies focus on skills, retention, and employee well-being in a competitive labor market. This acquisition highlights the growing focus on comprehensive benefits packages to attract and retain talent.
Advertisement - New research out this week from The Conference Board found that—of the 300 compensation leaders the organization surveyed—projected salary increase budgets for 2025 are expected to edge up about 3.9%, a slight increase from the actual 3.8% The post What will salary increase budgets look like for 2025? in 2023.
Though MHPAEA has been in effect for more than 15 years, employers have thus far struggled to apply the law in a way that satisfies the federal agencies overseeing compliance, said Sarah Raaii, a partner in the employeebenefits and executive compensation group of law firm McDermott Will & Emery LLP. 9 statement.
However, human capital management does have a distinct focus that organizations will want to consider as they work on improving their HR practices or building their HR strategies for 2025. It encompasses many areas, such as talent management, compensation and rewards, talent acquisition, and more. What is human capital management?
Weve watched the buzz around the “No Tax on Overtime Bill” grow louder in 2025. The question on everyones mind is: When does the No Tax on Overtime Bill pass in 2025? If it clears the Senate and lands on the Presidents desk, the No Tax on Overtime Bill pass date could be just weeks away or it might drag into late 2025.
The term “employeebenefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. What are employeebenefits? . Employeebenefits are non-salary compensation and perks.
Fair and performance-based compensationCompensation is a key element for successful talent management. To hire and retain the right people, you’ll need to offer reasonable compensation and benefits. A robust compensation package takes the form of financial (base) pay and employeebenefits.
As 2025 quickly approaches, many organizations are gearing up for growth. Advertisement - One component of M&A activity that organizations need to examine in the coming year, experts say, is how they pay employees who work on mergers, acquisitions and divestitures.A
In 2025, one in three employees in the U.S. Being transparent with your compensation practices shows that youre serious about paying fairly, closing pay gaps and avoiding bias. From a people and culture perspective, this will help foster trust and increase employee satisfaction, leading to a stronger organizational culture.
Employeebenefits are a cornerstone of workplace success. Understanding and managing the different types of employeebenefits is essential for attracting, retaining, and motivating a strong workforce. What are EmployeeBenefits? Employeebenefits are often referred to as staff benefits or employee perks.
Retail coffee chain Starbucks recently announced that in 2025, it is upping its paid parental leave benefit, increasing the leave from six weeks to 18 weeks for birth parents and 12 weeks for non-birth parents.
In 2025, businesses can no longer get away with ignoring technology at work. HRIS offers many benefits that an organization can utilize and customize to suit its needs. What to Look for While Making HRIS Comparisons in 2025? Will it be able to manage bonuses and other compensation plans?
As we step into 2025, businesses face an increasingly challenging environment of regulations, workforce dynamics, and economic challenges. Here are some reasons why working with a PEO is a strategic move for businesses in 2025. Handling payroll taxes, workers compensation , and unemployment insurance filings.
Compared to years prior, employees are more interested in retirement benefits and paid leave opportunities. Here are the most important benefits your company needs in 2025. Financial wellness remains atop the benefits trends The common thread that connects most employee concerns is a high level of financial stress.
This year, our most-read blogs reflected these developments, focusing on topics like how to best appeal to Gen Z talent, the benefits of outsourcing HR, ways to improve company culture, and more. Read on to dive deeper into these issues, which will continue to prove valuable as 2025 unfolds. What Does Gen Z Want in the Workplace?
The world of work is changing faster than ever, and, with it, the expectations of employees. As we move deeper into 2025, HR leaders are under increasing pressure to design total rewards programs that not only attract and retain top talent but also adapt to the rapidly evolving needs of the workforce. Total Rewards Statements 2.0
There is a lot of uncertainty about who qualifies for the up to $1400 stimulus check in 2025 and how to apply for it, and many employees may be unaware of the opportunity to claim these credits. Who Qualifies for the $1400 Stimulus Coming in 2025?
Only employees with a legitimate tax-dependent status can use FSAs to cover dependent care expenses. Contribution rules The IRS sets an annual limit on the amount that can be contributed to an employees FSA. The 2025 medical FSA contribution limit (including limited and combination FSAs) is $3,300 per year.
Quick look: As 2025 unfolds, a new wave of human resources trends is emerging. The ExtensisHR 2025 Trends Report highlights the top five shifts, complete with actionable insights from industry thought leaders.Below is a quick recap of the report, which can be downloaded using the form below.
According to WTW’s 2024 Global Benefits Attitudes Survey , 75% of employees are likelier to stay with an employer offering a strong benefits program. This article will explore the essentials of an effective staff benefits program, including various types of employeebenefits and modern approaches such as rewards programs.
Research on workplace empathy reveals alarming gaps between employees’ mental health needs and the support they receive from their employers. Consider employeebenefits , for example. In a 2024 Businessolver survey, 90% of employees said having mental health benefits available at enrollment was important.
In 2025, salaries alone no longer define an attractive employment offer. Employers are increasingly turning to fringe benefits. What are fringe benefits? But what exactly is the meaning of fringe benefits, and why do they matter? What are Fringe Benefits? The concept isnt new. Start by surveying your workforce.
Last-minute tax savings before April 15 Even though many pre-tax benefits are elected during open enrollment , there are still last-minute tax savings opportunities before the deadline: Maximize HSA Contributions If you have an HSA , you can make contributions up until the tax filing deadline (April 15, 2025) for the 2024 tax year.
With it, you can easily run payroll for salaried employees and contractors as often as you need each month. It also allows you to automatically file payroll taxes, manage healthcare and other employeebenefits , perform direct deposits, and more. This software is specifically designed for businesses with up to 50 employees.
These strategies encompass not just compensation and benefits but also recognition, career development, DE&I initiatives, and mental wellbeing, all designed to boost engagement and retention. Total Rewards strategies continue to evolve, driven by the diverse expectations of today’s workforce.
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.
With it, you can easily run payroll for salaried employees and contractors as often as you need each month. It also allows you to automatically file payroll taxes, manage healthcare and other employeebenefits , perform direct deposits, and more. This software is specifically designed for businesses with up to 50 employees.
HR Executive: Beyond employee wellbeing, what do you see as another opportunity for HR leaders to become even more integral strategic business partners in 2025? I need to do this not through just programs and compensation and developing good L&D strategy, but I also need to make sure I understand where the business is going.
Together, theyll explore strategies and success stories for driving employee engagement with wellness initiatives year-round. Strategies for Year-Round Employee Engagement with Wellness Offerings When: Wednesday, January 29, 2025 1:00 PM ET Where: Virtual Register via Zoom click here. Why attend? Jennifer Wright , Sr.
Trends Report HR Trends 2025: What Business Leaders Need to Know Future Forward: ExtensisHRs 2025 HR Trends Report The HR landscape is poised for significant transformation in 2025. Download Full Report The post HR Trends Report 2025 appeared first on ExtensisHR.
These strategies encompass not just compensation and benefits but also recognition, career development, DE&I initiatives, and mental wellbeing, all designed to boost engagement and retention. Total Rewards strategies continue to evolve, driven by the diverse expectations of today’s workforce.
Advertisement - The State of Work-Life Wellness 2025 is packed with new findings that make this clear. In companies with these kinds of programs, employees are much more likely to say their overall wellbeing is good or thriving—and that they believe they are adequately compensated.
Are employeebenefits today considered perks, or are they expected? Not surprisingly, the history of employee perks involves World War II, the burgeoning tech industry and women. Today’s Top EmployeeBenefits and Perks. They will make up 75 percent of the workforce by 2025, and they want more from work than money.
elections potentially leading to significant shifts in employment laws and employeebenefits, its crucial for employers to stay ahead of changes to maintain compliance. New regulations could affect everything from healthcare policies and labor laws to tax laws, all of which play a key role in benefits administration.
They’re working with smaller budgets for payroll and employeebenefits. Contingent workers may not be permanent employees, but you can establish long-term, mutually beneficial relationships with them. The Growing Contingent Workforce Contingent workers will make up 35-40% of the global workforce by 2025. billion by 2031.
To help alleviate financial stress (and subsequently, improve work productivity and employee retention), it’s beneficial for brokers to explore solutions which support financial wellness goals. Greater job availability leaves room for employees to be selective about where they work.
New chatbots (conversational algorithms designed to perform key HR functions such as answering employeebenefit questions or assisting in recruiting new hires) are rapidly being introduced into the workplace. Mosley predicts more companies will provide only 98% of an employee’s total compensation.
In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act of 2022 says The implications of this law’s passage for your business How small and midsize businesses and their employees can both benefit Overview of the SECURE 2.0 The SECURE 2.0 Major highlights of the SECURE 2.0
Competitive recruiting and retention advantage Many job candidates—especially younger employees, who make up a sizeable portion of the workforce—consider retirement benefits an important factor and may look elsewhere if a 401(k) plan isn’t included in a compensation package. Click here to view the complete SECURE 2.0
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