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Key Takeaways ;Amazon, Bank of America Announce Wage Increases; ;Proposed Pay Package Could Make Musk World’s First Trillionaire; ;New Report Shows a Rise in Worker Pushback for RTO; ;Wells Fargo Settles DEI Lawsuit Over Fake Interviews; ;Employers Standing Firm on Jobs, Benefits Despite Economic Pressure; Amazon, Bank of America Announce Wage Increases Amazon is increasing its average pay to more than $23 per hour, according to an announcement made Sept. 17.

Key Takeaways Bank of America Raises Minimum Wage for its Workers to $24 Per Hour ;Volkswagen Could Close a German Plant for First Time Ever;NLRB: Amazon is ‘Joint Employer’ of Some Contracted Delivery Drivers;Machinists Union Nix Boeing Deal, Begin Strike; Bank of America Raises Minimum Wage for its Workers to $24 Per Hour Bank of America has announced it is raising its minimum wage to $24 per hour.

Total Compensation = Base Compensation + Incentive Compensation + Total Benefits Total Rewards: People and Talent Metrics Absence Rate Absence Rate = (Number of Days Absent / Total Number of Available Workdays) x 100 Cost Per Hire (CPH) CPH = Total Recruiting Costs / Number of Hires Employee Engagement Index Engagement Index = Sum of Engagement Scores / Number of Respondents Human Capital ROI (HCROI) HCROI = (Revenue - Operating Expenses - (Compensation + Benefits Costs)) / (Compensation + Benefits Costs) Offer Acceptance Rate Offer Acceptance Rate = (# of Offers Accepted / Number of Offers Made) x 100 Offer Decline Rate Offer Decline Rate = (# of Offers Declined / Number of Offers Made) x 100 Revenue Per Employee Revenue Per Employee = Total Revenue / Total Number of Employees Time to Fill Time to Fill = Sum of Total Days to Fill All Roles / Number of Roles Filled Training Investment Per Employee Training Investment Per

;Important callouts: High-deductible health plans (HDHPs) can now permanently cover telehealth services before the deductible without violating HSA eligibility. … Direct primary care (DPC) arrangements are now compatible with HSAs, and DPC memberships will be considered a qualified medical expense under HSA guidelines (up to $150 per month per individual or $300 per month per family, indexed for inflation). … Bronze and catastrophic plans on state exchanges can be considered HDHPs for HSA eligibility, broadening HSA usage for participants on those plans.; ;Action items: ;Review plan designs to ensure they align with telehealth safe harbor and broadened HDHP eligibility rules.; ;If continuing or considering DPC arrangements, ensure their structure is compatible with HSA eligibility.; ;Determine if reinstating telehealth services before the deductible will be done retroactively to Jan. 1, 2025, only prospectively or not at all.; ;Communicate changes with employees and required notices.

Currently: ;30 states (plus the District of Columbia) have a minimum wage rate that exceeds the federal rate.; ;12 states have minimum wages that match the federal rate.; ;5 states (Alabama, Louisiana, Mississippi, South Carolina and Tennessee) have not adopted a state minimum wage.; ;3 states (Georgia, Oklahoma and Wyoming) have a minimum wage below $7.25 per hour.; For the eight states in the last two bullet points, the federal minimum wage of $7.25 per hour generally applies.

Access a bonus Workspan Daily Plus+ article on this subject: ;How to Contend with a Job-Hopping Workforce; When comparing positions held by workers after the age of 21 (excluding part-time and short-term work during high school or college), the research revealed the following longevity averages: ;Baby Boomers: 3.6 employers in 27.1 years (7.5 years per job); ;Generation X: 4.2 employers in 19.4 years (4.6 years per job); ;Millennials: 3.9 employers in 9.2 years (2.4 years per job); ;Generation Z: 2.7 employers in 2.8 years (1 year per job); Although the data may exclude some shorter-term, early career jobs not listed by older workers, the gap is more than significant enough to account for those omissions, and it still paints a picture of dramatically increased job-hopping by the workforce’s newest entrants, said Jesse Wheeler, a senior macroeconomic analyst at Revelio Labs.

Quantitative Data Collection: 🗹 Number of PTO requests;; 🗹 Number of PTO approvals;; 🗹 Average PTO accrued per employee;; 🗹 Average PTO used per employee;; 🗹 Reasons for PTO usage (e.g., vacation, personal leave, sick leave);; 🗹 Reasons for PTO not being approved;; 🗹 Employee headcount;; 🗹 Overtime hours worked; Qualitative Data Collection: 🗹 Reasons for not taking leave (e.g., workload, lack of coverage, manager disapproval, accruing for a later purpose);; 🗹 Employee understanding of PTO policies;; 🗹 Employee perceptions of corporate/department culture on taking time off;; 🗹 Employee feedback on improving PTO usage;; 🗹 Manager’s challenges in approving PTO requests (e.g., late requests, holiday weeks, request/approval system, staffing issues);; 🗹 Impact on team/department when employees are absent (high, low, unacceptable, etc.).;; 🗹 Manager feedback on improving PTO usage;; 🗹 Focus group sentiments regarding the effectiveness of PTO policies and practices that impact

Key Takeaways EBSA Nominee Lays Out His Vision for the Agency;Senate Committee to Vet Candidates for DOL, EEOC Posts;Bill Aims to Raise Federal Minimum Wage to $15 Per Hour;DOL Head Vows to Uphold Laws Amid Proposed Cuts; EBSA Nominee Lays Out His Vision for the Agency Daniel Aronowitz, U.S.

The Fair Labor Standards Act (FLSA), which was passed in 1938, mandated overtime pay for most workers putting in more than 40 hours per week.

(Federal tax-free withdrawals from 529 plans for K-12 tuition are limited to $10,000 per year per student.