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Compensation & Benefits

Betting on a bonus? Not if you wagered on who’d get COVID

In late 2020, Tyson Foods fired seven of its pork processing plant managers after they were caught betting on which of their employees would next get sick with COVID. Not content with leaving well enough alone, five of the seven fired managers sued Tyson Foods claiming that the company owed them a bonus payment.

Millennials and Gen Z: Lower the retirement age!

More than half of millennial and Gen Z workers surveyed—51%—want to lower the full retirement age.

Open enrollment countdown: Spend this fall educating employees about benefits

For many HR professionals, the fall open benefits enrollment season is a grueling ordeal for which the best outcome is mere survival. However, that mentality may mean missed opportunities to truly educate employees about your organization’s total rewards program and how they can choose the benefits that best serve them and their families.

It’s almost open enrollment, so let’s talk wellness benefits

The only tax-free wellness benefit is reducing the monthly premiums employees pay for their major medical coverage. But there’s a darker flipside to wellness benefits that some employees won’t like: surcharges on employees’ major medical coverage for those who smoke tobacco.

Public comments on proposed OT rule accepted until Nov. 7

The Department of Labor’s proposed rule raising the white-collar overtime salary threshold was published in the Federal Register on Sept. 8.

When compensation makes news, expect workers to demand higher pay

Two remarkable events that took place in August may signal an accelerating trend: Employers should prepare to offer higher pay if they want to retain workers.

77% of employers report greater employee need for mental-health care

An increase in mental-health challenges was cited as the most significant area of prolonged impact resulting from the pandemic. Last year, 44% of employers saw a rise in mental-health concerns, while 77% of employers reported an increase this year, with another 16% anticipating one in the future.

DOL rule would raise OT salary threshold to $55,068

The Biden administration on Aug. 30 proposed a new rule increasing the white-collar overtime salary threshold to $55,068, a 55% increase over the current threshold of $35,568. Practical impact: Exempt administrative, executive and professional employees who earn less than $55,068 per year ($1,059 per week) must receive overtime pay if they work more than 40 hours in a workweek.

Employers plan for 7% rise in health-care costs next year

Higher utilization due to chronic health conditions will be the primary cost driver for 22% of employers surveyed.

Retain older workers with tailored benefits

Now that the post-COVID economy has stabilized and the stock market is climbing again, some older workers who stuck with you throughout the pandemic may be considering quitting to pursue other interests. But if they do, you will be at risk of losing the benefit of their on-the-job experience, their investment in your organization’s culture and their institutional knowledge of how you get work done.