Sat.Aug 12, 2023 - Fri.Aug 18, 2023

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Employers Project 7% Rise in Health Care Costs for 2024

International Foundation of Employee Benefit Plans

U.S. corporate employers project a median health care cost increase of 7% for 2024, according to International Foundation of Employee Benefit Plans survey results. The 7% increase is on pace with cost trends projected last year in a similar survey conducted by […] The post Employers Project 7% Rise in Health Care Costs for 2024 appeared first on Word on Benefits.

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35% think Flexible Working Bill does not support working carers

Employee Benefits

Employee Benefits poll: One-third (35%) of organisations do not think that the recent Employment Relations ( Flexible Working ) Bill goes far enough to support working carers, according to a survey of Employee Benefits readers. Meanwhile, 37% think that it does go far enough to support staff who are working carers , whereas 28% were unsure if it does or not.

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401(k) catch-up questions leave high earners in limbo

Employee Benefit News

The challenges and opportunities of required Roth contributions are taking a backseat for now to legislative and operational messes from the Secure 2.0 law.

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PayrollOrg GRTF Urges IRS Funding, Comments on Draft Form W-2c

PayrollOrg

PayrollOrg’s Government Relations Task Force (GRTF) Federal Issues Subcommittee acted on two issues in July: maintaining IRS funding and requirements for Form W-2c.

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HR in 2025: Insights & Predictions

What type of worker is most engaged—hybrid, remote, or onsite? What are the drivers of effective leadership? What does the C-suite think HR is most responsible for? And why is a wave of HR resignations more likely in the next 12 months? Get our annual survey report to find out: The #1 challenge of recruiting & hiring Why remote teams are struggling What are the drivers of effective (and ineffective) leadership And lots more!

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How to sell pensions change into an organisation

Employee Benefits

Need to know: Change will happen when it comes to employers’ pensions plans. Whatever the change, some universal principles remain true. Stakeholders should be involved early, to ensure they can voice any objections and feel involved in the process. Avoid legalese; be honest, clear and concise. If it is bad news, upfront about why the decision is being made and explain the reasoning behind it.

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Sixth Circuit Highlights Importance of the Plan Document

Proskauer's Employee Benefits & Executive Compensa

A recent decision by the U.S. Court of Appeals for the Sixth Circuit ( Patterson v. United HealthCare Ins. Co. , No. 22-3167, 2023 WL 4882436 (6th Cir. Aug. 1, 2023 ) ) illustrates the importance of clearly describing key plan terms in the plan document and summary plan description. Incomplete documentation or disclosure can nullify rights of the plan and its sponsor.

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New Vermont Payroll Tax Takes Effect Next Year

PayrollOrg

Effective July 1, 2024, Vermont employers will be required to make contributions for a new state payroll tax. A portion of the tax may be withheld from employee wages, and the rest must be paid by the employer.

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The top 10 most-read articles between 11 – 17 August 2023

Employee Benefits

The top 10 most-read articles on employeebenefits.co.uk between 11 – 17 August were: Tesco Ireland enhances staff health and wellbeing benefits 30% of staff prefer CDC pension for decumulation over an annuity or drawdown ScotRail staff accept improved pay deal Exclusive: A fifth of employees worry about money every day Median monthly pay up 7.8% year-on-year Cepac staff strike over pay and conditions The Watches of Switzerland Group accredited as living wage employer Scottish Opera and Ro

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7 considerations when choosing a health plan for the first time

WEX Inc.

Whether you're transitioning from your parents' insurance, landed your first full-time job, or are simply obtaining coverage for the first time, choosing health plans and employee benefits options can be overwhelming. You’ll likely hear a lot of terms and acronyms that you’ve never heard before. For first-time health insurance and benefits electees, we’re kicking off a three-part blog series just for you to walk through considerations when making these decisions.

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The Employers Guide to Controlling Cancer

About 40% of us will be diagnosed with cancer in our lifetime, and patients are getting younger. At the same time, the cost of treatment continues to rise, with employers spending 8.5% more on cancer care for each employee than they did last year. The best thing employers can do for their employees and business tomorrow is to invest in cancer detection and care today.

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How Does Dental Insurance Work and Is It Worth It?

Fringe Benefit Analysts

You probably know the feeling well. Another six months rolls around and then one day you glance down at your upcoming week’s schedule and there it is, your bi-yearly dentist checkup. But don’t panic. You know the dentist really isn’t as bad as it seems and there are actually some very important reasons to have a dental checkup and cleaning every six months.

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What the office of the future will really look like is the office of today

Workplace Insight

It’s a banality to point out that futurism is nowism plus either a robot butler or blasted landscape. So, I was taken with a press release we had last week from Studio Alliance which shows an AI’s depiction of the office of the future at various points over the next quarter of a century. What is most striking to me, if you set aside the Jetson-y outside views, is how much like the office of the present each is.

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BaxterStorey enhances employee benefits package

Employee Benefits

Hospitality business BaxterStorey has enhanced its employee benefits package to support its 8,000 UK staff through various life stages and circumstances. The firm has introduced 24 weeks of fully paid enhanced maternity leave to ensure new mothers have the support they need to balance the demands of work and family. It has also replaced its paternity leave policy with a more inclusive secondary carer leave so new parents, regardless of their gender, can take four weeks of paid leave to support t

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FSA carryover: What it is and what it means for you

WEX Inc.

A flexible spending account (FSA) carryover is one way you can provide flexibility to employees who participate in these accounts. We break down FSA carryovers below. Read our blog posts on grace periods and run-out periods for the rest of the series. Can FSA funds carry over to next year? Yes, employers do have the option of providing employees with an FSA carryover.

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Game Plan Total Rewards Consulting: We Solve [period].

Game Plan Total Rewards provides strategic consulting and project management services for Total Rewards, HR Operations, and Mental Health programs. From 50 to 50,000+ employees, all industries, we are experienced in working with all sizes and types of organizations and can support globally given our experience in over 30 countries.

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2024 ACA Electronic Reporting Requirements

AssuredPartners

Changes for 2024 As 2024 approaches, employers should be aware of the upcoming Affordable Care Act (ACA) reporting changes on the horizon. Since 2015, the standard that employers have been able to rely on when filing their Forms 1094-C and 1095-C was that they could do so by paper rather than electronically if they were filing less than 250 returns.

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Young Furniture Makers exhibition returns for 2023

Workplace Insight

The Young Furniture Makers exhibition, a special one-day event showcasing furniture, lighting and textile designs from emerging designer-makers to employers and key players in the furnishing industry, returns to the City of London this October. The event , organised by The Furniture Makers’ Company, the City of London livery company and charity for the furnishing industry, will take place on Wednesday 11 October at Furniture Makers’ Hall and the Dutch Church in Austin Friars, London.

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48% do not have access to features to manage pain and discomfort at work

Employee Benefits

Nearly half (48%) of UK office employees do not have access to the feature they identify as most useful to manage their pain and discomfort at work. Inclusive design firm Motionspot surveyed 2,000 office workers who experience menstruation or menopause to explore the optimal workplace design for them. It found that the most common unavailable feature in respondents’ workplaces was a place to lie down (78%), followed by a hot bath and shower (66%) and a dark or dimly lit space (60%).

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How to increase employee happiness in a tight job market

Business Management Daily

There’s a noticeable difference between work environments where people enjoy their lives versus where they don’t. Some circumstances can’t be controlled — like a lunch rush while waiting tables or the holiday madness at retail stores — but workplaces that emphasize employee happiness just seem to feel better. Before we talk about making employees happy though, let’s get something out of the way: employee happiness does not translate to productivity, at least not directly.

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New Report from 3,500+ Employers Confirms Retention is a Top HR Priority in 2024

The first report from Gallagher’s 2024 US Workforce Trends Report Series, includes data from 3,500+ employers who participated in the 2024 US Benefits Strategy & Benchmarking Survey. The report provides benchmarks for benefits, HR and people strategies to help organizations thrive. Organizations continue to rank retention as the top priority for HR, and second highest for operations.

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Key Elements for a Successful Employee Training Program

HR Digest

Remember the good old days when employees were left to figure things out on their own? When training was nothing more than a mere suggestion, and the only development opportunities were the occasional team-building retreats? Well, those days are long gone. In today’s rapidly evolving business landscape, organizations understand the importance of investing in their employees through comprehensive and effective training programs.

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People and firms often have very different views on the value of meaningful work

Workplace Insight

A new study from IBM claims that while employees rank meaningful work as something they care about deeply, executives say it’s the least important factor to their teams. The study, Augmented work for an automated, AI-driven world surveyed 3,000 global C-Suite executives across 20 industries and 28 countries. It also suggests that executives in the UK estimate that 41 percent of their workforce will need to reskill as a result of implementing AI and automation over the next three years.

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TransUnion names new UK chief human resources officer

Employee Benefits

TransUnion, a global information and insights firm and credit reference agency, has recruited Kaushik Gopalan as its new UK chief human resources officer. Gopalan will lead TransUnion’s HR strategy and staff initiatives for the UK and Europe, with responsibilities spanning talent acquisition, learning and development, employee engagement and people operations.

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Free COVID-19 Testing Coverage: How A Task Force Decision Could Impact Employers 

Wellable

While the pandemic is in the rearview mirror, the USPSTF is on the brink of recommending widespread COVID-19 screening. How will this impact employers? The post Free COVID-19 Testing Coverage: How A Task Force Decision Could Impact Employers appeared first on Wellable.

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How to Design a People-First Benefits Package for Your Unique Team

Benefits are central to any HR strategy. A strong benefits package attracts top talent, boosts engagement, and retains top performers.

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Will a Jury Decide if a Five-Day Workweek Was ‘Vital’ for a Costco Cashier?

HR Digest

On September 23, 2022, a Costco store could be seen in Monterey Park, California. A jury should decide whether the employer failed to offer an adjustment for an employee who has a disability, as per a ruling by a federal district court. Dive Below the Surface A federal district court in Oregon decided on Aug. 8 in Braa v. Costco Wholesale Corp. that a jury should resolve whether Costco’s demand for the cashier to be available to work five days per week disregarded her pain and migraines.

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Nurturing Tomorrow's Leaders Through Leadership Development

eni

In the ever-evolving landscape of modern workplaces, effective leadership is the cornerstone of organizational success. As HR professionals, you hold the key to nurturing and shaping the leaders of tomorrow. Leadership development is not just about filling positions; it's about fostering a culture that empowers individuals to excel, inspire, and drive the organization forward.

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How a reward strategy can create a culture of success

Employee Benefits

A fit-for-purpose reward strategy is vital in creating a happy and rewarded workforce that drives productivity and success. Employers should create a reward strategy that allows employees with different lifestyles and needs to work in a way that enables them to thrive. Aligning a reward strategy with organisational objectives can contribute to overall business success.

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Firms look to consolidate office space in response to persistence of hybrid working

Workplace Insight

Workers able to work remotely are still only coming into an office for an average of 1.75 days a week, a study of 119 workplaces in 22 countries by workplace consultancy AWA claims. The responses, collated in April-May 2023 and representing organisations employing close to 155,000 people, saw a slight increase on AWA’s study a year ago, indicating that office attendance has reached a more or less steady state and that hybrid working is still a favoured solution.

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Create a Culture of Belonging

Ready to boost employee happiness, improve inclusion, and make a positive impact on morale? From fostering cooperation and collaboration to promoting inclusivity and community impact, our checklist covers it all! Create the kind of workplace where employees feel valued, motivated, and invested in your success.