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Report: HR Trends 2024 – Navigating the Future of Work

Extensis

The speed at which the business landscape is evolving means employers must quickly adapt to remain competitive; gone are the days of researching emerging trends and bookmarking them for later. employees consider a potential employer’s professional development and training offerings important when accepting a new job.

HR Trends 102
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Charter and Independent Schools Prepare for the Latest Federal Overtime Pay Rule

Extensis

Quick look: The Department of Labor (DOL)’s new overtime pay rule requires charter and independent schools to review and refine their current strategies to ensure compliance. New earnings threshold renewal period: Starting July 1, 2027, the earning thresholds will be updated every three years to ensure the fairness of overtime pay.

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2023 Recapped: Our Top 5 HR Blogs for SMBs

Extensis

It’s estimated that the HR outsourcing market will grow to over $13 billion by 2027 , and this isn’t surprising when you consider 70% of HR professionals feel they’re working beyond typical capacity, according to SHRM’s 2022-2023 State of the Workplace Study. What is Employee Leasing and How Does It Differ from PEO?

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Help SMB Employers Improve Retirement Readiness

Extensis

million Americans will hit retirement age annually through 2027 , with 11,000 expected to turn 65 in 2024 alone. Employers may also look to providers to host financial education sessions on topics like budgeting, reducing debt, and investing. Sources state that over 4.1

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6 Cybersecurity Threats Facing Small Businesses

Extensis

In recent years, there has been a substantial increase in the number and scale of cyberattacks on businesses, mainly due to the vast amount of sensitive data many organizations manage and store. Third-party breaches It’s estimated that by 2027, freelancers will comprise over half the U.S.

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New Year, New HR Trends for Brokers to Know

Extensis

As a broker-friendly professional employer organization (PEO) , ExtensisHR prioritizes informing its broker partners about the latest market developments. Additionally, it’s estimated that by 2027, 50% of skill sets for jobs will have changed , highlighting the need to prioritize continuous learning.

HR Trends 105
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What SMBs Should Know About the 2024 Overtime Rule Salary Threshold

Extensis

Quick look: The new overtime pay rule redefines salary compliance standards for many small- and medium-sized businesses across the country. Any wage thresholds will be updated every three years, starting July 1, 2027. SMB employers can undertake several initiatives by the designated deadlines to avoid HR compliance issues.