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.; ;Health insurance companies and pharmacy benefit managers (PBMs) — Payers and PBMs set formularies, negotiate rebates, establish utilization management guidelines and impact what is covered for members.; PBM Strategies Given the role of PBMs in setting medications that are covered or recommended within an employer’s plan, they’re a key partner in adjusting or adding biosimilar coverage, said Savitha Vivian, the senior vice president of industry relations and formulary strategy at pharmacy benefit manager Optum Rx.

In publicly traded companies, key employees may receive stock options — the right to purchase shares at a set price when certain conditions are met, explained Ryan Cameron, a senior director at consulting firm WTW.

The most common approach in 2024 was to set pay based on the employee’s primary residence (29%).

.; ;AI virtual assistants are another conversational tool that also can help with certain workflows and tasks, such as setting up and sending reminders.; ;AI agents can help execute workflows and guide employees through processes even if they aren’t sure where to start or what to ask.

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“There’s more transparency around target setting, quota setting and compensation planning

ESG goals should be discussed within the context of annual and long-term goal setting to ensure your company doesn’t end up with competing priorities, ineffective incentive plans or unintended consequences.

“Managers need to set clear expectations about work redistribution, help employees close any skill gaps if they are taking on new responsibilities and help them connect the work they are doing back to the organizational purpose to feel fulfilled,” she said.

Employees can set their own contribution rate, or use the program default, and can opt out of the program if they choose.

“For that, you may consider offering flexible schedules or setting core work hours.