Human Resource Knuggets
Mar 06, 2024
Welcome to today’s HR newsletter! We have gathered some insightful content for HR professionals to stay updated on the latest trends and best practices in human resource management. In today’s newsletter, we will cover three main themes: employee retention strategies, healthcare cost optimization through ICHRAs, and internal mobility best practices.
Employee retention has always been a critical area of focus for HR professionals, and it continues to be a top priority in 2024. According to HR Dive, early research suggests that attrition may slow this year, but many employers are still focused on employee retention. Companies are exploring various strategies, such as offering benefits that boost retention, reevaluating return-to-office mandates, and implementing mentorship programs to retain top talent.
The Individual Coverage Health Reimbursement Arrangement (ICHRA) is emerging as a powerful way for employers to optimize their benefits strategy and access substantial cost savings in healthcare. A webinar by HRMornings highlights the advantages of ICHRA in ensuring ACA compliance and providing maximum flexibility and affordability for employees. Employers can benefit from understanding how ICHRA can help them meet ACA requirements while reducing healthcare costs.
Internal mobility best practices are gaining attention as a way to retain top talent and increase productivity. According to Divenewsletter, 88% of flight-risk employees would consider staying with their employer if offered the option of internal mobilization. This underscores the importance of providing growth opportunities within the organization. Employers can explore actionable tips for mobilizing and retaining top talent, cost-saving ways to add efficiency to internal hiring, and effective skills gap analysis.
In conclusion, employee retention, healthcare cost optimization through ICHRAs, and internal mobility best practices are crucial themes for HR professionals to consider in their strategic planning. As the workplace landscape continues to evolve, HR professionals must stay abreast of these trends to effectively manage their talent and resources.
| Theme | Description |
|---|---|
| Employee retention strategies | Employers are focused on retaining top talent through various strategies such as benefits and mentorship programs. |
| Healthcare cost optimization through ICHRAs | ICHRAs are being recognized as a powerful tool for employers to optimize their benefits strategy and reduce healthcare costs. |
| Internal mobility best practices | Internal mobility is gaining attention as a way to retain talent and increase productivity within organizations. |
Sources:
1. “Body Shop’s mass sackings via Teams – should the law prioritise creditors or employees?” by news@comms.cipdmail.com
2. “The “ICHRA diet” can help you shed healthcare costs” by content@hrmorning.com
3. “9 internal mobility best practices” by newsletter@divenewsletter.com
4. “Popular events with your HR peers” by hrleaders@gartner.com
5. “Top Strategies for Employee Retention” by newsletter@divenewsletter.com
6. “March 5 – California violence prevention plan tips | Court upholds ‘successor bar’ rules” by newsletter@divenewsletter.com
7. “Webinar: Growth Secrets of the World’s Most Admired Companies” by insights@kornferry.com
Stay Well!
