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“I think the Fed should remain vigilant,” Holtz-Eakin said, adding that the new inflation figures should cement two more rate hikes from the Fed, as the central bank is projecting by the end of the year.

“Compensation practitioners will need to ensure that the salary budgets they project take into account the expected increases and that systems and compensation allocation guidance for managers takes these factors into account,” he said.

;Offer incentives such as paid time off for skill development, funding for conferences or training, opportunities to work on projects that teach new skills, and digital badges or credentials.

She also leads strategic global compensation projects.

This group would benefit from consultations with financial advisors, if available, and a clear understanding of retirement income projections.

These certifications — from cloud computing to project management to generative artificial intelligence — are becoming vital credentials,” Turba said.

Workspan Daily article;Healthcare Cost Projections Necessitate TR Strategy Updates , Workspan Daily article;Customizing Health Benefits: Cutting Costs Without Cutting Corners , webinar; When it comes to their pharmacy benefits, workers want the convenience and performance of the apps they use to shop, bank and unwind — and they’re looking to their employers to provide it.

By dedicating resources to this project, she said, it could help determine where your data is, ensure its accuracy and start a process for organizing it according to the specified categories and pay bands required under the language of the statute.

Healthcare costs are projected to rise in 2025, but a majority of employers will maintain their current benefits, according to a new Mercer study.

For WorldatWork Members Total Rewards Inventory of Programs & Practices , research;5 Health Benefits Trends Come into Focus for 2024 , Workspan Magazine article;Navigating Employees’ Serious Medical Needs , on-demand webinar;Total Rewards Inventory Checklist , tool; For Everyone Employer Healthcare Costs Projected to Hit 10-Year High in 2025 , Workspan Daily article;Employers Look to Balance Rising Health Costs, Benefit Upgrades in 2025 , Workspan Daily article;As Health Costs Spike, Total Rewards and CFO Collaboration Is Crucial , Workspan Daily article;Employers Grapple with the Rising Costs and Popularity of Specialty Weight-Loss Drugs , Workspan Daily article; With the glucagon-like peptide-1 (or GLP-1)class of drugs now approved by the U.S.