Persistent inflation and the high cost of new medical technologies are among the drivers that will contribute to another year of sharply rising global healthcare benefits costs in 2024, according to the WTW Global Medical Trends Survey released this week. - Advertisement - These factors are among several that are expected to push healthcare benefits costs for employers up 9.9% in 2024 compared with this year. That jump will come close to the record-high increase of 10.7% in 2023 and substantially surpasses the 7.4% rise in 2022, according to the report, which queried 266 insurers representing ..read more

With the end of the year quickly approaching, it’s going to be difficult not to look back upon 2023 as the year AI took over the world of HR technology and, to some extent, took over HR itself. AI dominated the discourse at the HR Technology Conference and other industry events and has been featured prominently in new product launches, development roadmaps, keynote presentations and buzzy press releases throughout the year. - Advertisement - Discussions about AI—where and how it can be utilized, the potential cost savings it can generate, the process improvements and changes it will lead to, a ..read more

As the winter holidays approach and employers prepare to celebrate with their workforce, it’s important to remember the potential legal fallout that can accompany celebrations gone awry, HR and legal experts say. - Advertisement - Through the years, companies have faced allegations of sexual harassment, discrimination and violating workers’ rights to free speech and religious expression, based on everything from decorations and gift exchanges to alcohol-fueled company parties. To help keep organizations out of court, employment attorney Jonathan Segal recently offered recommendations on celebr ..read more

The buzz about Ozempic, Wegovy and other related weight-loss medications is everywhere. These new drugs create an inescapable dilemma for companies that offer health insurance, as their exceptional effectiveness comes at a very high price. These expensive medications further threaten the affordability of employer-sponsored health insurance plans. Yet programs to constrain use, if not managed well, can lead to friction, conflict and dismay among prescribers, pharmacists and, most importantly, patients. What is the landscape for anti-obesity drugs today? - Advertisement - This class of high-cost ..read more

As a CHRO, your roles and responsibilities are increasingly versatile, complex, and critical to your organization’s growth. Recruiting is just a small part of your role. As a modern CHRO, your focus involves shaping corporate culture, nurturing talent, enhancing diversity, and ultimately, driving bottom-line growth. In this report, we dive into the ever-evolving role of CHROs as strategic leaders driving transformation across the organization. We also share the eight top skills strategic CHROs need to master. Let’s dive in. Closing the perception gap It’s an open secret that the C-Suite has a ..read more

Employee benefits have evolved significantly in recent years, moving beyond basic offerings like health insurance and paid time off to more tailored packages catering to the modern workforce’s needs. This shift resulted from various factors, including changing demographics, economic evolution and an increasing emphasis on employee wellbeing. - Advertisement - What is the current state of the industry? In this dynamic industry, several new benefits have gained prominence and become standard over the past decade. Mental health support tops the list, as it’s now widely recognized and expected for ..read more

What did you accomplish at work today? For far too many of us, the gut response to that question would be: “Not enough.” Time-pressed, working across time zones and barraged by constant meeting alerts, emails and texts, for many professionals, the average workday has become a race against the clock to quickly triage, respond and stay one step ahead of our inboxes. - Advertisement - In fact, according to our recent Future of Professionals Report, which surveyed more than 1,200 professionals working across legal, tax and accounting, global trade, and risk and compliance industries, nearly 3 ..read more

HR has evolved significantly in recent years thanks to the integration of artificial intelligence technologies. AI has the potential to revolutionize HR processes, making them more efficient, data-driven and objective. However, with great power comes great responsibility, and the importance of AI compliance in HR cannot be overstated. - Advertisement - With organizations leaning heavily on AI-powered solutions, upholding ethical and legal standards has taken center stage. HR departments are instrumental in this endeavor, collaborating with the chief compliance officer to craft robust policies ..read more

A recent survey of 2,000 global business leaders found that perhaps mundane-seeming office policies—such as return-to-office mandates, work models with flexibility and the use of distributed teams/freelance talent—can significantly affect business performance. The report, from the newly launched Upwork Research Institute, surveyed directors through C-suite leaders across seven industries and 13 countries over the past year. Among other things, the survey identified the three critical attributes of high-performing companies, which it identified as “Work Innovator Companies.” - Advertisement - T ..read more

The end of a relationship is never easy—especially employment relationships. Whether it’s a resignation or termination, you must comply with your state-specific separation documentation requirements. Ensure a clean, compliant employee separation with our chart detailing these all-important employee separation requirements by state. Learn more >> The post Separation of Employment Requirements by State appeared first on HR Executive ..read more