Running a successful organization requires an understanding of the outside factors that impact your workplace. That's why this year we are examining trends that are having the greatest impact on how organizations operate—and what they mean for you. These issues are likely to touch almost every employer in some way, and preparing for them now will keep you moving forward in the future.
The topics covered in this publication are related to each other in both obvious and subtle ways. But a common denominator throughout these pages is your number one resource—employees. You can’t succeed without them, and you can achieve almost unlimited success with the right ones.
We’ll be discussing the invasive impact of the opioid epidemic, a critical issue for many employers that can put an entire business in jeopardy. In addition, we’ll be examining other stressors that are facing both employers and employees, including the skyrocketing costs of prescription drugs as well as other issues such as cyber risk, financial well-being programs and rising employee benefit costs in general. Don’t miss our new emerging trends section—promising tactics and strategies that are yet to become universally adopted, but that should be on your radar.
Click HERE to download the full publication. Each article will refer to supporting materials listed below so that you can learn more about these trends, and tap into the right solutions to help your organization succeed.
As American's take on more debt, the need for employer-sponsored financial well-being programs has increased. Offering a financial well-being program may not only impact your recruitment and retention efforts, but also your bottom line.
Pharmacy costs are escalating at a much more rapid pace than medical costs, creating unsustainable trends in drug spend. Increasing cost of generic drugs, utilization of specialty medications and manufacture incentives and marketing are having a significant impact on this trend.
Attracting and retaining key executives and other highly compensated employees can go beyond pay. Many companies are adding “restorative” benefits like carve-out retirement plans, specialized insurance and other perks to compensate their executives sufficiently—and avoid losing them to other employers.
Between 2016 and 2017, the average cost of a cyberattack increased by 23% to $11.7 million globally, according to the Ponemon Institute’s study, Cost of Cyber Crime. Criminals are finding it easier to scale cybercrime globally with ransomware attacks—which have doubled in the last year—putting more and more businesses at risk.
As healthcare costs continue to rise, a growing number of employers plan to focus more on how healthcare is delivered and paid for while still pursuing traditional methods of controlling costs such as cost sharing and plan design changes.
We expect to hear a lot more about student loan repayment, Insuretech and the Internet of Things, Gen Z entering the workforce and the growing connection between well-being and workers' compensation in 2018.
Never has it been more crucial to stay in tune with what your employees want and need. This knowledge could mean the difference between increasing your competitiveness with a valuable workforce and losing profitability through high turnover. And a one-size-fits-all benefits package is no longer enough.
The National Safety Council (NSC) reports that prescription drug misuse currently impacts more than 70% of U.S. workplaces. While certain industries like manufacturing are affected more than others, the epidemic reaches across all industries, company sizes and many different areas within them.
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