The modern business landscape is shifting, propelled by fundamental transformations in employee benefits, according to the 2023 Society for Human Resource Management (SHRM) Employee Benefits Survey.
The 2023 labor market continues to tighten, creating challenges and opportunities for employers. Compensation is a key aspect of these dynamics. Mercer’s latest data reveals that pay increases this year are the highest since the 2008 financial crisis.
Workplace flexibility in the modern business landscape has evolved beyond mere hybrid schedules. A significant paradigm shift is occurring, with employees placing a premium on flexibility. Contrary to some corporate beliefs, this doesn't simply mean the capacity to work from home.
Even as the dust of the pandemic begins to settle, employers face an urgent challenge: enhancing employee wellness amid fears of recession and lingering effects of the pandemic.
The burden of paying for healthcare benefits has grown substantially for many employers. As the average expense for employee healthcare is projected by the Society for Human Resources Management to increase by 6.5 percent in 2023, surpassing $13,800 per employee, businesses of all sizes struggle to balance their budgets while ensuring their workforce remains healthy and productive.
Even as the dust of the pandemic begins to settle, employers face an urgent challenge: enhancing employee wellness amid fears of recession and lingering effects of the pandemic.
High inflation continues to shape the economic narrative of the nation. Now the Internal Revenue Service (IRS) has responded by unveiling significant modifications to the health savings account (HSA) and high-deductible health plan (HDHP) limits for the year 2024.
As the retirement crisis looms, experts are exploring innovative solutions to ensure a secure financial future for America's workforce. One such solution is a return to pension plans, which could provide the stability and affordability employers and employees seek
Recent data reveals a troubling trend: employee satisfaction with workplace benefits has reached its lowest point in a decade, falling to 61 percent in 2023 from 64 percent in 2022. As employers navigate a rapidly changing landscape marked by inflation, mental health challenges, and ongoing pandemic-related issues, employees are calling for more comprehensive support. Experts argue that a re-evaluation of employee benefits, grounded in data-driven insights, is necessary to address these concerns and bolster workplace satisfaction.
The burden of paying for healthcare benefits has grown substantially for many employers. As the average expense for employee healthcare is projected by the Society for Human Resources Management to increase by 6.5 percent in 2023, surpassing $13,800 per employee, businesses of all sizes struggle to balance their budgets while ensuring their workforce remains healthy and productive.
