hroutlook

  The IRS has laid out the steps that employers need to follow when they contribute matching student loan payments to employees’ defined contribution plans—a benefit that became available this year. The agency’s latest guidance clarifies the eligibility requirements and the process for certification, delivered in a question-and-answer format to make it straightforward for employers. This interim guidance applies to plan years starting after December 31, 2024. While the IRS plans to issue more detailed regulations in the future, for now, plan sponsors can rely on the notice issued on Monday. This guidance is part of the broader SECURE 2.0 Act, passed in 2022, which aimed to strengthen employee retirement savings. The Act introduced several enhancements, including pension-linked emergency savings accounts and expanded auto-enrollment for retirement plans. A key provision relevant to the IRS’s Monday notice is that employers can now make matching contributions to employees’ retirement...

  Bank of America is set to raise its minimum hourly wage to $24 starting next month, marking a significant step toward its goal of reaching $25 per hour by 2025. This wage increase is part of the bank’s ongoing efforts to remain competitive in the job market and foster a supportive work environment. With this change, Bank of America continues to lead by example in offering a strong compensation package, according to Sheri Bronstein, the company’s chief human resources officer. This wage hike has become a regular occurrence for Bank of America, reflecting a steady pattern of increases over the last few years. Back in October 2021, the bank raised its minimum wage to $21 per hour, followed by increases to $22 in May 2022 and $23 last October. This gradual upward trend started with a minimum wage of $15 in 2017. The bank initially set a goal to pay $20 per hour by 2021 but achieved that target a year early. Since then, the bank has worked toward its next milestone of $25 per hour, wh...

  The government amended the PWFA in 2022 to protect pregnant workers. Prior to this legislation, pregnant employees were covered under the ADA and the PDA, which were not comprehensive enough to provide adequate protection. While this has brought federal pregnancy protections closer to the existing laws in many states, it also presents the issue of compliance for employers as was articulated by the Disability Management Employer Coalition virtual event. The PWFA addresses two key areas: accommodations and leave. In terms of accommodations, the PWFA connects loopholes between the ADA and PDA. The ADA does not consider pregnancy as a disability; however, the law requires employers to provide reasonable accommodations for employees with physical or mental impairments that severely restrict a significant life activity, even though the condition results from pregnancy or childbirth. The PDA, on the other hand, does not explicitly require employers to provide accommodations for pregnant...

  Before we consider how leaders and managers can better engage and support their employees, first, we need to take a step back and consider what’s happening in society overall. With a rise in populism, first since Brexit in the UK and the surprise election in 2016 as Trump becoming the US president in 2016.  Michael Cox  from the London School of Economics describes populism as reflecting ‘a deep suspicion of the establishment, that in the view of most populists doesn’t just rule in the common good but conspires against the people.’ With concerns about  trust within HR  departments, there is a risk that the populist wave that seems to pervade society, may have a significant impact on the workplace, where nobody’s perceived as ‘looking out’ for ‘ordinary people’. Whilst the  Endelman Trust Barometer  has consistently shown that more trust in their organisations than they do their governments, and certain demands to get back to the office, highlights th...

  Recent data from Indeed showcases a significant shift in U.S. job listings, with 50% of postings now disclosing employer-provided salary information—the highest proportion ever recorded. This substantial increase in salary transparency was only about 10% in 2019 but surged during the pandemic, accelerating from around 30% in 2022. Experts highlight that this uptick is largely attributed to pay transparency laws adopted by several states, aiming to offer visibility and fairness in pay information to job seekers. According to Mariann Madden from WTW, these laws are effectively achieving their intended objective. Cory Stahle from Indeed Hiring Lab notes that divulging pay details in job postings can foster trust, attract talent, and potentially contribute to closing gender and racial pay gaps. The rise in pay transparency laws and the perceived benefits have influenced this trend. Many states and localities now prohibit employers from seeking salary history from applicants and manda...

  In a recent survey conducted by iSolved, a human capital management platform, over 1,100 full-time workers in the US were asked about their work perspectives for the annual Voice of the Workforce report. Surprisingly, the survey revealed that a significant 58% of respondents are contemplating seeking new job opportunities within the next year, marking an 11% increase from the previous year. Although the survey doesn’t delve into the specific reasons behind this inclination to leave, 31% of workers cited their attachment to the work they do, while 24% expressed appreciation for their current company as the reason for staying. The report emphasized the importance of providing employees with a sense of purpose and fostering a positive culture, highlighting their impact on morale and overall job satisfaction. Regarding employee preferences, 33% expressed a desire for a four-day workweek, while a collective 66% advocated for or supported work-from-home policies. Isidro Galicia, presid...

  A new report from ManpowerGroup, released on November 12, highlights an intriguing paradox in the modern workplace. While 80% of workers say they find purpose in their current jobs, one in three are considering leaving their positions. This reveals a complex shift in employee expectations, where meaning alone is no longer enough to retain talent. The Global Talent Barometer, which surveyed employees across 16 countries, shows an overall employee satisfaction rate of 67%. This score is derived from factors such as well-being (64%), job satisfaction (63%), and confidence (74%). While these figures reflect positive sentiments, they also underscore the challenges facing employers today. Becky Frankiewicz, Chief Commercial Officer at ManpowerGroup, notes that employees are increasingly looking for more than just a paycheck—they want work that offers better balance, more options, and more humanity. Despite the meaningful work many employees experience, the data suggests it’s not enough...

  A recent report by researchers from George Mason University, Columbia University, the University of Hong Kong, and Arizona State University revealed that Deloitte paid newly hired accountants with H-1B visas an estimated 10% less than U.S. workers in similar roles. The study, published in the Journal of Business Ethics on Sept. 26, raised concerns about the efficacy of regulations intended to prevent wage discrepancies between H-1B visa holders and U.S. workers. Using 2005 salary data, which was part of a hack in 2014, the researchers inferred H-1B visa status through U.S. Department of Labor data. Deloitte, however, disputed the findings, stating that the dataset was incomplete and unvalidated. The research explored whether U.S. accounting firms hire H-1B workers to address a shortage of CPA-ready professionals or to reduce wages. Deloitte responded, emphasizing that they comply with immigration regulations, provide competitive wages, and hire thousands of U.S. workers each year...

 Stay informed with the latest HR news on HR Outlook, covering workforce trends, employment laws, talent strategies, and organizational change. Our content helps HR professionals understand industry developments, respond to challenges, and make better people-focused decisions in today’s dynamic workplace.

  Part-time job opportunities are on the rise, offering more flexibility for workers, according to a June 20 report from Indeed Hiring Lab. Since 2022, the share of part-time job postings has increased, while full-time postings have remained stable. This trend spans across various sectors, suggesting that many employers are replacing full-time positions with part-time roles. The specific reasons behind this shift are unclear, but it could be due to employers seeking to attract workers with more flexible options or a cooling labor market reducing the need for full-time roles. Daniel Culbertson, an economist at Indeed Hiring Lab, notes that these trends may continue as the labor market rebalances. Despite the growth in part-time roles, full-time work still dominates, making up about 62% of job postings as of May. Part-time postings accounted for nearly 32%, up 2.5 percentage points from May 2022, while about 13% of job openings offered both full-time and part-time options. The increa...

HRInsights on HR Outlook offer expert perspectives on workforce challenges, leadership strategies, and organizational growth. We analyze real-world HR issues and share actionable ideas that help professionals improve talent management, employee experience, and long-term workforce planning.

Stay updated with HR technology updates on HR Outlook, covering HR software, automation tools, AI in recruitment, and workforce analytics. Our insights help organizations choose the right technologies to streamline HR processes, improve data accuracy, and enhance employee experience.     Come and visit our website https://hroutlook.com/category/insights/ for more details.