As the pandemic continues to unfold, the ability of employers to have a positive impact on employee health and resiliency cannot be understated according to a recent Mercer Survey, Health on Demand.
A new report from Arizent, The Future of Work: Employers, Employees, and the Long Road to Compromise, reveals that employers and employees don’t agree on what the new normal looks like. To move forward, each side will have to compromise.
Delta argues that the costs of hospital stays for COVID total, on average, about $40,000-$50,000 per incident thus driving up healthcare costs for all employees.
Many employers have taken action to address the financial well-being of their employees, and one of the most popular benefits companies have either expanded or begun to offer is student loan repayment assistance in addition to tuition reimbursement programs.
On Friday, the Department of Labor’s Bureau of Labor Statistics released data from its Employment Cost Index. The data confirms what many employers are experiencing; wages are increasing. On a national basis, costs for wages and salaries among private industry increased 3.5%. This is the largest increase in more than 14 years.
Many assume that today’s labor shortage is due to the additional unemployment benefits being provided by the federal government through September. But is this really the case?
On April 27, 2021, President Biden signed an Executive Order (EO 14026), “Increasing the Minimum Wage for Federal Contractors.” The EO would set the hourly minimum wage paid to workers performing work on or in connection with covered federal contracts to $15.00 per hour, beginning January 30, 2022. In order to do so, implementing regulations would have to be promulgated.
A reimbursement or expense policy should clearly outline how your business deals with company related expenses and offer a detailed explanation on how employees are able to get reimbursed. Most include the following key elements:
Employees want this and they want that. The most recent issue is arising from the remote work environment. For those jobs that can be done anywhere, employees expect their compensation to be the same as where they were initially situated, unless they move to a more expensive location, then they want the bump.
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