Quick Hits - January 4, 2023 - American Society of Employers - Anthony Kaylin

Quick Hits - January 4, 2023

Men want much higher salaries than women when switching jobs: The amount of money workers are demanding to switch jobs has been rising rapidly, recently hitting an eight-year record amid high inflation and the prospect of a recession.  On average, workers said they would need at least $73,700 to start a new job, according to a survey released this week by the Federal Reserve Bank of New York. That's $3,300 higher than a year ago, and eclipses the previous high-water mark set in March.  However, expectations differ widely along demographic lines. The typical salary desired by men in the survey was $85,700, compared with just $61,600 for women. College graduates said they'd require a minimum of $92,100 to jump ship, while those without a college degree wanted just $59,800. The results come from the New York Fed's Survey of Consumer Expectations, a continuous survey that asks about 1,300 people about work, inflation and other economic issues.  The attitude shifts revealed in the latest survey reflect the reality of increased costs of living alongside a job market that remains relatively tight, despite weakness elsewhere in the economy.  Source: Money Watch 12/21/22

Are healthcare costs increasing in 2023? Health benefits costs rose by 3.2% in 2022, and employers are bracing for an even larger hike this year, a Mercer survey shows.  Analysts at Mercer polled more than 2,000 employers representing 124 million full-time and part-time employees and found that they expect benefits costs to increase by 5.4% in 2023. And they're expecting faster cost growth to continue in the near future, according to the survey.  Cost growth spiked in 2021 to 6.3% as more people sought out care delayed by COVID-19. 2022’s rate of 3.2% may seem like a return to normalcy after an errant year in 2021, but the analysts warned that healthcare cost rates typically grow faster than inflation, which in 2022 was 8%. Total health benefit costs per employee reached $15,013 on average in 2022, with small businesses with between 40 and 499 workers reporting slightly higher costs compared to their larger counterparts.  About three-quarters (73%) said adding programs or services to improve access to behavioral health care was important, and 68% said the same about affordability. How are employers managing cost increases while minimizing cost-shifting? The survey found that a third of large employers (35%) and half of very large employers (53%) are focusing on high-performance networks and high-value care.  Source: Fierce Healthcare 12/8/22

OSHA requires single log-in for reporting:  OSHA requires employers to upload certain information to its Injury Tracking Application (ITA) each year by March 2. This year, OSHA is transitioning employer login information from individual accounts to “login.gov” and all employers must connect their accounts prior to March 2. For employers that are required to use the OSHA ITA, OSHA recently transitioned its login procedure to utilize one single account to access all applications: Login.gov. All current and new account holders must connect their ITA account to a Login.gov account with the same email address to access the application for the 2023 collection of Calendar Year 2022 Form 300A data. Before proceeding, entities are encouraged to review the guidance on how to connect your accounts. OSHA has a history of citing employers who fail to timely upload their Form 300A data by March 2, so ensure your account access is up to date before that date.  OSHA provides the secure ITA website that offers three options for injury and illness data submissions. Users may manually enter data, upload a CSV file to add multiple establishments at the same time, or transmit data electronically via the API (application programming interface).  Source:  Seyfarth Shaw 12/6/22

Survey confirms what is normal today in the workplace: Post-pandemic American workplaces are still returning to the "new normal," according to the latest collaborative survey from HRCI.  The online survey received responses from more than 1,000 HRCI-certified Human Resources professionals with two-of-three (67%) respondents indicating their workplaces are at least "mostly back to normal." Those who work in Manufacturing (80%) and Education (76%) were most likely to say that normalcy has returned.   The survey results also clearly indicated that for most organizations, "normal" does not necessarily mean "the same." Only 22% of respondents said that "almost everything is like it was before the pandemic," while 33% reported that conditions at their organizations are fairly different or extremely different from the pre-pandemic norm. For many organizations, this "new normal" entails a hybrid work schedule: 78% of respondents said their organization allows employees to work remotely at least part of the time. And a majority (52%) of these HR professionals indicated their organization is conducting HR functions remotely all or most of the time.  42% shared that conditions at their organization are better than they were before the pandemic, while only 20% noted that conditions are worse. Another 38% said that conditions are basically the same as they were before the pandemic. Source:  HRCI

New York State now has pay transparency law:  New York became the latest state to mandate that employers disclose salary ranges in advertisements for jobs and promotion opportunities under a new law that Gov. Kathy Hochul signed, following in the footsteps of Colorado, California and other states that have recently adopted similar requirements. The statute will apply to any "person, corporation, limited liability company, association, labor organization or entity" that has at least four employees.  It specifically bars those employers from advertising any open position or promotion or transfer opportunity "that can or will be performed, at least in part" in the state without detailing a salary range and a description of the job if one exists.  The law defines pay range as the "minimum and maximum annual salary or hourly range of compensation" for a job, promotion or transfer opportunity that an employer "in good faith believes to be accurate" when the job ad is posted. If the advertisements are for jobs in which successful applicants are paid entirely on commission, the state's new law requires employers to include a general statement in writing attesting that pay will be based on commission.  Source:  Law360 12/21/22

 

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