Würk, a human capital management (HCM) company in the cannabis industry, has partnered with The Baldwin Group to launch a groundbreaking Employee Benefit Captive program. This innovative insurance collaboration aims to transform how legal cannabis businesses manage and evaluate their health insurance benefits, offering a flexible alternative to traditional insurance while providing cost-saving opportunities and insights.
Alstom, a global leader in sustainable mobility solutions, has announced a new maternity and adoption policy in the UK that offers full pay for up to 12 months. This progressive policy reflects Alstom’s commitment to gender equality and employee well-being, setting a new standard in the industry and attracting top talent.
Iberia and the Spanish Pilots Union (SEPLA) have finalized a new agreement that extends their current contract and introduces a profit-sharing model for pilots. This agreement reflects a commitment to employee participation in the airline’s success and aims to create a more equitable distribution of profits across the entire Iberia Group.
A Google employee’s Instagram post showcasing the diverse and delicious lunch options available at the company’s canteen has gone viral, highlighting the perks of working at one of the world’s leading tech giants.
In the past two years, 27 companies have surrendered their EPFO exemptions, contributing ₹1688.82 crore and 30,000 employees to the provident fund. This trend is attributed to EPFO’s improved services, including faster claims processing, higher settlement rates, and a robust monitoring system, making it a more attractive option for businesses. The government is also implementing a new software and portal to simplify the exemption surrender process.
Trip.com Group celebrates the first anniversary of its childcare subsidy program, providing financial support to global employees with young children. The program, launched in July 2023, has already benefited over 500 employees and has been met with positive feedback. The company also emphasizes a hybrid work model, promoting work-life balance and employee well-being.
Pilot, a leading network of travel centers and fuel providers, is preparing for the upcoming summer travel season by hiring over 10,000 new team members. The company is offering attractive benefits, comprehensive training, and opportunities for career advancement at its Pilot and Flying J travel centers, One9 Fuel Network sites, onsite eateries, and tanker fleet across the United States and Canada. This expansion is particularly focused on high-demand areas such as California, Florida, Georgia, Texas, and Virginia.
An online petition calling for free parking for healthcare staff at Sudbury’s Health Sciences North hospital has garnered over 1,100 signatures, citing the financial burden parking fees place on workers’ salaries. The petition argues that free parking would boost staff morale and improve patient care. However, the hospital maintains that parking fees are necessary to cover operating costs and support health research.
Employee Stock Purchase Plans (ESPPs) offer discounted company shares to employees of publicly traded companies. While they can provide valuable benefits, experts emphasize the importance of understanding the rules and risks before participating. ESPPs typically collect after-tax contributions during a six-month offering period and use them to purchase company stock at a discounted price, often with a lookback provision that bases the purchase price on the lower value at the beginning or end of the period. While it’s possible to sell the stock quickly for a potential immediate gain, participants should be aware of the tax implications and the uncertainty of future stock performance.
The Internal Revenue Service (IRS) has issued guidance clarifying the tax treatment of work-life referral services provided to employees under employer-sponsored programs. This development signifies a milestone in employee benefits and taxation, offering advantages for employers and employees alike. Under the new guidance, work-life referral programs that provide informational and referral consultations to assist employees with personal, work, and family challenges can qualify as de minimis fringe benefits, exempt from income and employment taxes. This clarification underscores the importance of work-life balance and encourages employers to invest in comprehensive work-life referral programs to foster employee well-being, satisfaction, retention, and productivity.
