This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
PBMs negotiate prices and process claims, but employers dont often see the complete picture of how drugs are priced under their plans, HR Brew previously reported. A PBM may help them ink a contract thats within their budget, but the tradeoff is employees may then encounter really big imbalances in drug pricing.
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. Let us help you successfully navigate everything 2024 has in store.
In 2023, some 62% of operators reported being understaffed. Today, 45% of operators say they need more employees to meet customer demand. restaurant industry and consider some employeebenefits strategies and resources that operators can adopt to overcome their recruitment and retention challenges.
Here, discover the key insights outlined in ExtensisHRs 2025 HR Trends Report and learn how brokers can leverage these emerging developments to strengthen client relationships. You may also download the entire report using the button below. These applications already prove valuable to employees.
Regardless of the company’s size, those that offer the right mix of benefits outperform the competition. To make sure your company is following the right recipe when it comes to employeebenefits, download their latest report.
Key Features: Headcount analytics : Offers in-depth reporting and analysis of workforce trends. Employee self-service : Provides a platform for employees to manage their information, improving efficiency. Compliance and reporting : Ensures compliance with employment laws and generates detailed reports.
Employeebenefits and compensation Managing employeebenefits and compensation involves multiple processes to ensure your organization stays compliant, controls costs effectively, and promotes the health and well-being of your workforce. Employee engagement and culture Company culture is a hot topic, and for good reason.
Key Services: Workforce and Talent Strategy EmployeeBenefits and Compensation Management HR Technology Solutions Health and Wellness Programs Global Mobility Services Why It Stands Out Mercer’s focus on employeebenefits and total rewards strategies is particularly noteworthy.
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.
Maureen Pittenger was tapped in June to serve as Domino’s new EVP-CHRO, reporting to CEO Russel Weiner. She’ll report in to the company’s CEO, and will lead talent strategy, development, and employeebenefits. As the world watches the Summer Olympic Games, we’ve been wondering about the HR equivalent of a gold medal.
First off, businesses are legally obligated to pay their employees timely and accurately. When a company hires an employee, each party enters into an agreement centered on payment for labor combined with an employeebenefits package. Ensuring this happens, the U.S.
Right now, for example, you may be wrapping up open enrollment , ensuing all employees have enrolled in – or waived – coverage. At the same time, you are probably trying to review employee data and payroll records in preparation for year-end reporting, tax filing and setting up the first payroll of 2020.
“I don’t really care about my employeebenefits,” said no employee ever. When it comes to employeebenefits, if your business can offer it, employees want it. That’s the case for any employeebenefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance.
Bring in the bennies Benefits can serve as a cost-effective tactic for improving attraction and retention. Nearly two-thirds of respondents to Gustos report said they offer employeesbenefits, with paid time off being the most popular, followed by retirement plans and health insurance.
What do you think of when employeebenefits are mentioned? Organizations often fail to go beyond these standard benefits, and if they do, it’s with a few additions that are selected without much thought and seldom improved. Find out what your employees want out of an employeebenefits program.
With professional HR support, businesses minimize financial risks and ensure that compensation, benefits, and legal matters are handled accurately. For start-ups and growing businesses, outsourcing HR can also eliminate the need for large upfront investments in HR software and employeebenefits programs.
We did some extensive research on this topic in 2024 and recently published a report in partnership with Insperity on the topic of HR outsourcing, payroll, and SMB HR trends. HR/HCM/Compliance Aon Acquires NFP in the Benefits Space : Aon, a global professional services firm, acquired NFP to strengthen its employeebenefits solutions.
This fragmentation results in time-consuming manual reporting, reduced accuracy, and an overall inability to use real-time insights effectively. Data Warehouses typically store cleaned, structured data ready for analysis and reporting. Enhanced Employee Experience Employeesbenefit when HR data is centralized and accessible.
Quick look: SHRM recently released its annual employeebenefits survey depicting what benefits remain high-priority and which are trending upward. Though the popularity of some benefits may not come as a surprise, there are a few important changes to note which brokers can help their clients get ready for.
6 call with reporters. 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.
For example, she said it would make sense to remind an employee about financial wellness benefits when they get a raise. Nearly 70% gave the same rating to employers’ efforts on physical health, while 64% gave that rating to initiatives on emotional well-being and mental health.
Quick look: Gallup’s State of the Global Workplace: 2024 Report shows employees are struggling with finding their ideal work-life balance, which can directly affect a company’s productivity and long-term growth potential. Inflation and debt are two main culprits contributing to employee stress and dissatisfaction.
Deel can support full-time employees and contractors. This platform can be used by enterprises expanding their global footprint, providing tools to manage payroll, contracts, and compliance across multiple countries.
But our study revealed at least one critical thing both employees and managers are on the same page about: the importance of manager training. Managers want more leadership training, and employees want them to get it. Could investing more in management training programs be the next sought-after employeebenefit?
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.
Employers have long utilized catastrophe insurancewhich typically covers impacts related to major disasters like floods, hurricanes and earthquakesto protect their businesses but increasingly are considering adding such coverage into their employeebenefits packages. appeared first on HR Executive.
Workers were largely happier in 2023 compared to previous years, but something is happening with disabled employees—they’re less happy, less loyal, and more stressed than their colleagues, according to the 2024 MetLife US EmployeeBenefit Trends Study. Happiness is declining. Why is this happening?
Emphasize education Ensuring that employees can make the elections right for them and their families should be a goal for all employers, and educating staff on their benefit options is a must.
Employeebenefits have long been considered a key resource in HRs strategic toolkit, a reality that took on new meaning in the last few years. Understanding the unique employeebenefits needs of the population has been essential to that aim, says Solaiman. What was the impetus for that? We are a family.
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 EmployeeBenefit Plans, 42% of U.S.
Employee engagement is often reduced to a corporate buzzwordmeasured through annual surveys and generic HR initiatives. Too often, it becomes a numbers game, detached from the deeper relationship between employer and employee. Our latest HR Trends report revealed that disengagement costs businesses $8.8
This challenge, highlighted in a recent report by the American Hotel & Lodging Association (AHLA), impacts facilities and establishments of all sizes and locations. Average Employee Turnover Rate in the Hospitality Industry The average turnover rate in the hospitality sector is currently 4.9% , compared to the average of 3.2%
But there’s one area where you can make a huge impact—your employeebenefits package. Additionally, they assist with childcare costs when employees return to work, demonstrating a strong commitment to fostering a family-friendly environment. Take Mustard Made , for example.
The percentage of employers offering healthcare benefits to employees’ dependent grandchildren is on a steep rise, doubling in the past two years, according to a recent report by the International Foundation of EmployeeBenefit Plans. Census report released earlier this year. grandparents, or 6.7
Intoo’s 2021 Workforce Trends Report found that employee productivity, satisfaction, and engagement overwhelmingly were maintained or increased during the pandemic, largely due to more flexibility in the workplace and additional employee-focused benefits. However, according to HR professionals surveyed across 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 EmployeeBenefit Research Institute (EBRI).
And yet, just 2% of employers offer emergency savings accounts (ESAs), according to the Society for Human Resource Management’s 2023 EmployeeBenefit Survey. ESAs are post-tax savings accounts that can be funded by employers and employees. And 47% said an employer-sponsored emergency fund would “entice” them to change jobs.
Every year, HR professionals are tasked with announcing changes to employeebenefits plans during open enrollment—from new healthcare plan carriers to higher deductibles or a reduction in benefits offered. It’s a challenging responsibility, especially if HR expects employees might not receive the news well.
Turnover Rate = Number of Separations ÷ Average Number of Employees x 100 Today, modern HR software tools can automatically analyze your company’s turnover trends by month, year, or quarter. They can also report turnover by factors such as age, ethnicity, and gender.
Employers stand on the edge of a major shift in employeebenefits. Put simply, outdated benefits just don't cut it. The right tech can solve these challenges and take benefits to the next level. So, how can emerging benefits trends give organisations insight to shape their next move?
A Benefits Administration system is a software solution designed to streamline and manage employeebenefits programs. These systems are integral to Human Resources (HR) departments as they handle various tasks associated with full benefit management , such as enrollment, tracking, and compliance.
Financial flexibility and wellness tools such as on-demand pay and earned wage access are becoming significant levers for employeebenefits, and tech firms are responding with innovative options to meet this growing demand, according to industry analysts. less than two years. workers and hundreds of thousands of customers, says Boese.
Blue Monday: ‘a critical reminder’ While Blue Monday may direct HRs attention to employee stress, its a focus that needs to persist year-round, Cappellanti-Wolf says. Nearly one-third of the 400 HR professionals surveyed are looking to strengthen employee wellness as a strategy for improving employee experience and retention.
Moreover, employees view their employers as responsible for financial wellness efforts. According to MetLifes EmployeeBenefit Trends Study 2024 , 92% of employees want more consistent care from their employers. Wellness benefits must support both immediate financial challenges and long-term goals.
We organize all of the trending information in your field so you don't have to. Join 318,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content