Labor

Milliman analysis: Competitive pension risk transfer costs increase from 100.5% to 101.8% in January

Retrieved on: 
Friday, February 23, 2024
Public Policy, Government, Insurance, Data Analytics, Finance, Asset Management, Consulting, Labor, Professional Services, Fed, Milliman, PRT

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).

Key Points: 
  • Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI).
  • As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
  • During January, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.5% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO) to 101.8% of those liabilities.
  • The competitive bidding process is estimated to save plan sponsors about 1.8% of PRT costs as of January 31.

UNITE HERE LOCAL 11: Nearly a Dozen Elected Officials Speak Out on Alleged Violence at Hotel Maya

Retrieved on: 
Saturday, February 24, 2024
Labor, Other Retail, Public Policy, Government, Restaurant, Bar, Lodging, State, Local, Retail, Destinations, Travel, Head, Incidence, Violence, Injury, Airport, Letter, University, Dignity, UNITE, City, Housing, Hotel

Nearly a dozen elected leaders have sent a letter to Hotel Maya leadership and owner-operator Ensemble expressing concern over incidents of violence against Maya workers who were peacefully protesting for improved working conditions, benefits and wages.

Key Points: 
  • Nearly a dozen elected leaders have sent a letter to Hotel Maya leadership and owner-operator Ensemble expressing concern over incidents of violence against Maya workers who were peacefully protesting for improved working conditions, benefits and wages.
  • The letter comes just days after the Hyatt Regency Long Beach and Hyatt the Pike Long Beach reached standard-raising agreements with UNITE HERE Local 11.
  • UNITE HERE Local 11 raised concerns with Ensemble after a disturbing incident on December 13 outside of the hotel.
  • “The support elected officials are giving to Long Beach hotel workers during this time proves that Long Beach values are those of equality and justice,” said Ada Briceño, co-president of UNITE HERE Local 11.

Insperity Announces New Business Outlook Report 2024

Retrieved on: 
Thursday, February 22, 2024
Professional Services, Women, Business, Small Business, Men, Labor, Training, Health Insurance, Insurance, Consumer, Human Resources, Culture, Attention, HR, Workforce, Workplace, AI, Organization

Insperity, Inc. (NYSE: NSP), a leading national provider of human resources and business performance solutions, today announced the release of its new Business Outlook Report 2024 .

Key Points: 
  • Insperity, Inc. (NYSE: NSP), a leading national provider of human resources and business performance solutions, today announced the release of its new Business Outlook Report 2024 .
  • The report provides the HR outlooks and concerns of small and midsize business leaders, based on quarterly surveys conducted by Insperity.
  • The key findings show most respondents, who are the company’s clients, held a positive outlook about their company’s performance for 2024.
  • Six in 10 respondents expressed an optimistic outlook about their business’s performance in 2024, while only one in 10 expressed a concerned outlook.

Rallying at the Perley Gates: Health Care Staff Demand Better Working and Living Conditions at Residential Care Facility

Retrieved on: 
Wednesday, February 21, 2024
Public Policy, Government, State, Local, Health, Healthcare Reform, Hospitals, Labor, CUPE, Breakfast, Nursing, Typhoons in the Philippines

Health care workers represented by CUPE 870 rallied outside the Perley and Rideau Veteran’s Health Centre today, demanding their employer improve compensation and working conditions to enable better care for residents.

Key Points: 
  • Health care workers represented by CUPE 870 rallied outside the Perley and Rideau Veteran’s Health Centre today, demanding their employer improve compensation and working conditions to enable better care for residents.
  • Patty Lowe, a personal support worker and president of CUPE 870, said financial precarity and stressful working conditions have left staff demoralized and burnt out.
  • “Perley Health must negotiate a fair contract to retain staff.
  • It’s time for Perley Health to complete the bargaining with its staff and the impact of that, on stability of staffing, would have a very positive impact on resident care.”

Hackett: Procurement Renews Focus On Cost Reduction as its Top Priority

Retrieved on: 
Friday, February 16, 2024
Public Policy, Government, Software, Consulting, Artificial Intelligence, Data Management, Labor, Professional Services, Technology, Workload, AI, Gen, Growth, Digital, Information technology, Organization, Research, Construction

4) returned to the top five priorities for 2024, highlighting procurement executives’ concern over increased expectations for their function.

Key Points: 
  • 4) returned to the top five priorities for 2024, highlighting procurement executives’ concern over increased expectations for their function.
  • “Spend cost reduction is perennially a high priority for procurement.
  • “Procurement teams are projecting higher levels of savings in 2024 for both purchase cost reduction and cost avoidance.
  • But most procurement organizations have a significant opportunity to drive improved value on lean procurement cost structures.

Northwell Health, New York City Public Schools Announce Innovative Healthcare High School to Address Local Healthcare Workforce Shortages with Support from Bloomberg Philanthropies

Retrieved on: 
Wednesday, February 14, 2024
Urban Planning, General Health, Public Policy, Government, Foundation, Philanthropy, Nursing, Consumer, Construction & Property, Health, Other Philanthropy, Training, State, Local, Primary, Secondary, Other Health, Education, Teens, Labor, Human services, Social work, New Yorker, Student, Mental health, Multimedia, Bloomberg, Secondary school, Growth, Public school, Curriculum, Learning, Outline of health sciences, Bloomberg L.P., School, Counselor, Fund, Public, Bloomberg Philanthropies, Health equity, Workforce, SCA, Partnership

“New York City public schools are training our young people today for the jobs of tomorrow,” said New York City Mayor Eric Adams.

Key Points: 
  • “New York City public schools are training our young people today for the jobs of tomorrow,” said New York City Mayor Eric Adams.
  • New York City Public Schools envisions that the unique design of this high school will lead to system-wide improvements in healthcare-specific programming.
  • Northwell Health was the first anchor employer partner for New York City Public Schools in support of FutureReadyNYC.
  • Northwell representatives also chair the healthcare Pathways Advisory Commission, supporting New York City Public Schools in building curriculum and program design across the city.

Rutgers Appoints 33 Research Fellows to Study a Key Gateway to Wealth for the Middle Class: Employee Share Ownership

Retrieved on: 
Tuesday, February 13, 2024
Human Resources, Labor, Consulting, Public Policy, Government, Professional Services, Philanthropy, University, Foundation, Education, Fellow, Democrat, Workplace, Cooperative, Social, Employee stock ownership, Harvard Law School, Rutgers University, History, Associate, Knowledge, Joseba Azkarraga, Past, Research, University of North Carolina, University of Minnesota

The Rutgers Institute for the Study of Employee Ownership and Profit Sharing has announced the appointment of 33 research fellows to join its global network of scholars and subject matter experts.

Key Points: 
  • The Rutgers Institute for the Study of Employee Ownership and Profit Sharing has announced the appointment of 33 research fellows to join its global network of scholars and subject matter experts.
  • They will explore business models that enable workers to build wealth on top of wages, creating new opportunities to strengthen the middle class and close racial and gender wealth gaps.
  • “These fellows are advancing understanding of employee share ownership, profit sharing, and similar tools for sharing wealth and profits, in important ways.
  • The Institute is the world’s leading academic research hub dedicated to employee share ownership, equity compensation, profit sharing, and worker cooperatives.

Oaktree and Trinity Investor Alert from UNITE HERE Local 11: Los Angeles Times Article Alleges W Hollywood Hotel and Restaurant Failed to Prevent a Recurring Rat and Mouse Problem

Retrieved on: 
Thursday, February 8, 2024
Restaurant, Bar, Professional Services, Vacation, Lodging, Commercial Building & Real Estate, Travel, Construction & Property, Retail, Public Relations, Investor Relations, Labor, Communications, Finance, Public Policy, Government, Local, Mosaic, Union, Cal, Mouse, UNITE HERE, Investment, Occupational safety and health, Life, Trinity, Health, Biophysical environment, UNITE, Safety, ESG, Oaktree Capital Management, Feces, Social, Urine, Flour, Complaint, Airport, University, Rat

In December 2023, a Los Angeles Times article revealed disturbing allegations from workers at the W Hollywood’s upscale Sky Terrace restaurant, which is operated by Mosaic Hollywood LLC.

Key Points: 
  • In December 2023, a Los Angeles Times article revealed disturbing allegations from workers at the W Hollywood’s upscale Sky Terrace restaurant, which is operated by Mosaic Hollywood LLC.
  • Bags of flour and rice covered in what appeared to be rat feces, urine and bite marks.
  • When will Oaktree and Trinity re-hire the restaurant workers fired from Sky Terrace and provide appropriate back pay to these workers?
  • Why have Oaktree and Trinity failed to resolve the labor dispute at the W Hollywood by agreeing to the same contract that 30 other hotels have signed?

Employees at Award-Winning New Jersey Cannabis Dispensary Credit Labor Peace Agreement With Smooth and Swift Organizing Campaign

Retrieved on: 
Thursday, February 8, 2024
Public Policy, Government, Cannabis, Retail, State, Local, Natural Resources, Specialty, Labor, UFCW, Puffin, Pinelli, AFL-CIO, Spectroscopy, Sale, LPA, Drug

Workers at Puffin reached out to Local 360 based on its expertise and prominence in the cannabis industry, and its successful effort to include a Labor Peace Agreement (LPA) mandate as a requirement for any business applying for a cannabis industry license.

Key Points: 
  • Workers at Puffin reached out to Local 360 based on its expertise and prominence in the cannabis industry, and its successful effort to include a Labor Peace Agreement (LPA) mandate as a requirement for any business applying for a cannabis industry license.
  • LPAs kick in whenever a majority of workers express interest in a bona fide labor organization, and stop employers from disrupting efforts by the labor organization to communicate with, attempt to organize and represent their workers.
  • “We’re all invested in the future success of this great, young company, and of this industry,” said Kirsten Bennett, who led the organizing effort at Puffin.
  • “The workers at Puffin are passionate about their jobs, about their customers, and about the broader cannabis business community,” said Pinelli.

Toast Restaurant Technology Selected by Choice Hotels as Brand Standard for Two Upscale Brands

Retrieved on: 
Wednesday, February 7, 2024
Other Travel, Lodging, State, Local, Travel, Labor, Electronic Commerce, Other Technology, Mobile, Wireless, Public Policy, Government, Software, Other Retail, Office Products, Restaurant, Bar, Hardware, Specialty, Data Management, Small Business, Technology, Food, Beverage, Other Consumer, Retail, Finance, Banking, Accounting, Professional Services, Consumer, Online, Choice Hotels, Growth, Table, Senior, PMS, CHH, POS, Political lists, Choice, Sale, Digital technology, Hotel

Toast (NYSE: TOST), the digital technology platform built for restaurants, today announced an innovative collaboration with Choice Hotels International (NYSE: CHH) to make its Toast for Hotel Restaurants technology a brand standard for two of Choice’s upscale brands, Cambria Hotels and Radisson.

Key Points: 
  • Toast (NYSE: TOST), the digital technology platform built for restaurants, today announced an innovative collaboration with Choice Hotels International (NYSE: CHH) to make its Toast for Hotel Restaurants technology a brand standard for two of Choice’s upscale brands, Cambria Hotels and Radisson.
  • Cambria and Radisson will implement Toast technology as a brand standard by summer 2025 for Cambria and by the beginning of 2026 for Radisson properties.
  • Cambria and Radisson hotels, along with most of Choice Hotels’ portfolio of brands, are connected by the award-winning loyalty program Choice Privileges.
  • “We are delighted to be implementing Toast technology as a brand standard for Cambria and Radisson properties and to offer Toast to other Choice Hotels brands as a Qualified Vendor.”