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In 22 states, new minimum wages took effect on Jan. 1 (see sidebar).

For WorldatWork Members Health Insurance Selection Checklist for Employees , Workspan Daily Plus+ article;Getting Benefits Enrollment Right: Big Trends Spark Fresh Strategies , Workspan Magazine article;Considerations to Manage the Costs of GLP-1 Coverage , Workspan Daily Plus+ article; For Everyone Employers Facing Healthcare Cost Containment Challenge for 2025 , Workspan Daily article;Employer Healthcare Costs Projected to Hit 10-Year High in 2025 , Workspan Daily article;Do Your Employees Understand the Health Plan They Picked?

Minnesota passed its own law May 17 (effective Jan. 1, 2025), and Maryland updated its pay transparency law on April 25, requiring employers to provide salary ranges on job postings (effective Oct. 1, 2024).

Voters in Alaska approved Ballot Measure 1 , the “Minimum Wage Increase and Paid Sick Leave Initiative,” passing with nearly 57% of the vote.

Issue 1: Share Reserve Typically defined as the number of shares requested for post-IPO equity awards, a share reserve is the “bank” of shares upon which the organization draws as it grants equity-based LTI awards (e.g., stock options, restricted shares).

For additional information and historical context to the rule, see these WorldatWork resources: Workspan Daily: Jan. 1 Deadline Is Approaching for OT Final Rule; Will You Be Ready?

CVS Health to L ay O ff N early 2,900 E mployees As reported by Reuters , CVS Health said Tuesday, Oct. 1, it would lay off about 2,900 employees, representing less than 1% of its workforce, to cut costs.

Actions to consider include: ;Offer comprehensive wellness programs that can increase the overall health of your workforce and potentially identify conditions and treatment before they become more significant.; ;Implement strategies like centers of excellence for costly procedures (e.g., organ transplants, cancer treatments), which can provide quality care at a lower, negotiated rate.; ;Pursue pharmacy benefit management (PBM) strategies to manage high-cost specialty drugs like glucagon-like peptide-1 (GLP-1).; Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Benefits; ;Finance and Budgeting; ;Well-Being; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

According to a memo sent to employees this week, the company will raise hourly pay for its top-of-the-scale employees over the next three years, with the pay rising by $1 to $30.20 in the first year and an extra $1 each in the subsequent two years.

(Toward the EEOC, Trump fired former chair Charlotte Burrows, whose five-year commission term was to expire on July 1, 2028, and former vice chair Jocelyn Samuels, who was confirmed to serve until July 1, 2026.)