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Several lawsuits highlight employers role negotiating health plan contracts with pharmacy benefit managers ( PBMs ) that include pricey prescription drugs, and seek to hold them accountable under the Employee Retirement Income Security Act of 1974 (ERISA). The most recent lawsuit was filed by JPMorgan employees on Mar.
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The HR technology market in 2024 was a story of resilience and growth amidst a rapidly changing global landscape. From groundbreaking mergers and acquisitions to the introduction of innovative solutions that redefine talent management, payroll, and employee experience, 2024 has proven to be a year of transformation. With the U.S.
Quick look: A new year is here, and with it comes a fresh set of workplace trends, from further incorporating artificial intelligence into daily tasks to designing comprehensive succession plans. For example, a client using a legacy applicant tracking system (ATS) may use parts of that program but find the resume-screening process tedious.
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. There are holiday celebrations to prepare for and attend, looming work deadlines, and your staff’s time off to track and plan around.
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Quick look: Open enrollment is a critical period for small- and medium-sized businesses (SMBs), when employees select their benefits for the upcoming year. For employers, it can be a complex and time-consuming process, fraught with paperwork, deadlines, and the need to ensure that all employees are well-informed and supported.
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.
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When a company hires an employee, each party enters into an agreement centered on payment for labor combined with an employeebenefits package. Department of Labor is responsible for the enforcement of everything pay-related—from minimum wage and overtime requirements to deductions and employee classifications.
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Many employers dangle stock options for their highest-tier employees, but more companies, including e.l.f. was a team of roughly 150, but it has grown to almost 650 employees across the US, China, India and the UK. Beauty, Milsten told HR Brew. Quick-to-read HR news & insights. Subscribe to HR Brew today.
Walgreens plans to roll out a student loan 401(k) match program, the company announced Oct. The pharmacy chain is the latest organization to take advantage of a new federal provision that allows employers to contribute to workers’ retirement accounts based on payments they make toward their student debt. Subscribe to HR Brew today.
Employers have increased their efforts to meet women’s health needs, including improved coverage of fertility services , maternity leave, menopause support and rates of evidence-based cancer screenings. Advertisement - Addressing benefit coverage for screening MRIs and ultrasounds is more urgent than ever.
When it comes to 2025 employeebenefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefits package.
Quick look: Happy HumanResource Professional Day! This celebration occurs annually on September 26 and is dedicated to honoring the hardworking HR teams who work tirelessly to support, guide, and empower employees. Employees are the foundation of every successful business.
Bureau of Labor Statistics March 2021 jobs report said that employers added almost 1 million jobs and the unemployment rate is down to 6%. The other one was a recent article from the Society for HumanResource Management (SHRM) that hinted at a turnover “tsunami” once the pandemic ends. But it doesn’t have to be difficult.
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Every year, HR professionals are tasked with announcing changes to employeebenefitsplans during open enrollment—from new healthcare plan carriers to higher deductibles or a reduction in benefits offered. Perception/perspective: Understand what employees know about the benefits.
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Employer healthcare spending is projected to jump nearly 8% in 2025—the largest year-over-year projection increase in more than a decade—according to a survey released this week by Business Group on Health. million employees in the U.S. million employees in the U.S.
However, some employers want to provide it despite the expense because they say the benefit makes attracting and retaining employers easier. The percentage of employers with 25 to 99 workers offering healthcare fell to 77% in 2023 from 81% in 1996, according to the EmployeeBenefitResearch Institute (EBRI).
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It prepared me to be a strong leader and team player; it ultimately helped prepare me for a successful corporate career in humanresources. While some are relevant only to soldiers, I have found that certain Army principles or ideologies can be applied in the corporate world to help shape effective HR policies and practices.
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