How can HR professionals elevate their game to attract talent and spearhead innovative strategies?
In this ManageHR article, Elizabeth Vassolo, McDermott’s Global Head of Employment Brand, shares her perspective on emerging HR trends, highlights a game-changing project and offers actionable advice.
Governments and employers throughout the world are paying more attention to environmental, social and corporate governance (ESG) issues. That’s according to the International Bar Association Global Employment Institute’s (IBA GEI) Eleventh Annual Global Report.
The report is based on data from lawyers in 55 countries and covers a range of topics, including artificial intelligence, mental health, cybersecurity, immigration and compensation. McDermott Partner and IBA GEI co-chair Todd A. Solomon served as an editor, and McDermott Partner Abigail M. Kagan contributed to the report.
California companies with more than 15 California-based employees will have to disclose hourly or annual salary ranges for all job postings by January 1, 2023. According to this HR Brew article, McDermott Partner Michelle Strowhiro said she recommends HR professionals review job descriptions with business leaders and legal counsel (preferably, under legal privilege). The goal is to identify and resolve overlap between rules and adjust salary bands accordingly.
More employers are beginning to take notice of Monkeypox and how it might impact their workplaces. In this HR Brew article, McDermott Partner Michelle Strowhiro said employers need to present information from a factual basis to dispel rumors that might circulate in the workforce.
“To the extent that employees are…creating a hostile environment, it’s incumbent on employers to take proactive action to stop that,” Strowhiro said.
COVID-19 has not only accelerated dramatic shifts within the healthcare industry, but it has also become a catalyst for change in workforce strategies. In this special report, McDermott Partner Michael Peregrine offers perspective about key trends and priorities for the human capital committee to consider as it plans for the upcoming year and beyond.
As employees begin to return to their offices, human resource teams are being inundated with accommodation requests. The reasons behind these requests include:
McDermott’s Laurie Baddon says in an article published in SHRM that employers should share their policies with their workforces well in advance to give HR and legal teams time to process and assess accommodation requests.
IBM estimated last year that data breaches cost companies $148 per stolen record. Given that, not surprisingly, many employers have grown increasingly concerned about the potential impact of such breaches, including breaches that may affect employer-sponsored benefit plans.
Courts have not yet formally addressed whether ERISA requires benefit plan fiduciaries to manage cybersecurity risks. However, a federal district court recently rejected a motion to dismiss filed by defendants seeking to avoid liability for fraudulent distributions from a plan caused by cyber criminals. There, the court held that the defendants were plan fiduciaries and that the plaintiffs had pled facts sufficient to allege that the defendants breached their fiduciary duties. Although this decision only relates to a motion to dismiss, the case underscores the potential for plaintiffs to assert, even in the absence of clear guidance, that plan fiduciaries are not doing enough to protect plan participants from cybersecurity risks.
As a result, with cybersecurity concerns on the rise, plan fiduciaries are continuing to enhance their focus on the best ways to protect employee data. Recently, on Law360, McDermott’s Mark E. Schreiber discussed four helpful tips for handling cybersecurity risks.
There are many different types of mergers and acquisitions (M&A) transactions, making it very important to understand the overall deal structure and process. Andrew C. Liazos presented “Mergers and Acquisitions Webinar Series Part 2: The Due Diligence Process” for the CLE Program as part of the ABA Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel. He discussed the overall architecture of a deal, including the parties involved, what drives the deal structure, where to get data, price negotiations and more. The presentation focused on specific M&A areas including pension, other retirement and executive benefits.
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