00:00 - 00:21
HR leaders, we know you've heard plenty about these trends and the future of work, but does your benefit strategy actually protect you from the new risks? GLP-1 utilization now rivals other specialty medications. Employers should review their coverage strategies now to balance affordability, increasing employee demand and compliance requirements.
00:22 - 00:36
44% of employers are already expecting medical and pharmacy benefit budgets to increase next year due to inflation and claims trends. So, HR teams can use that as an opportunity to drive employee engagement and loyalty by increasing awareness of supplemental benefits and their other programs.
00:37 - 01:02
HR's shift from process owner to policy architect continues as AI becomes more integrated into business operations. Now is the time to establish clear guidelines for AI use, governance, and accountability across the workforce. Only 28% of employers have a comprehensive AI governance policy in place. That leaves the remaining 72% very much exposed to compliance and legal risks most businesses simply aren't prepared for.
01:03 - 01:21
Cybercriminals? Yeah, they're going after your employees. Cyber risk is also an HR issue. One organization had to learn this the hard way after losing $3 million in a phishing incident. Cybercriminals created a convincing spoof of the company's website, tricking an employee into entering their login credentials and leading to an avoidable multi-million-dollar loss.
01:22 - 01:40
As cyber threats increasingly target employees, verification practices like multi-factor authentication aren't enough on their own anymore. Ongoing training and awareness of new cyberattack methods can help reduce risk and prevent costly mistakes. Take a deeper dive with the linked resources and visit nfp.com to learn more.
Welcome to Echo.
In this edition, we’re looking at four trends shaping employer strategy, workforce planning and organizational risk.
GLP-1s and Pharmacy Spend
GLP-1 medications are rapidly becoming a major driver of pharmacy spending, with 51% of employers citing them as a leading factor in rising prescription drug costs during benefits renewals. At the same time, employers are facing broader healthcare cost pressures from medical claims, chronic conditions and behavioral health needs, with 44% expecting medical and pharmacy benefit budgets to increase next year. As costs continue to rise, organizations should take a data-driven approach to managing GLP-1 coverage strategies, monitoring utilization trends and prioritizing resources where they can deliver the greatest value.
The Great HR Reset
HR’s role continues to evolve from process owner to policy architect as AI becomes more integrated into business operations. With more employers incorporating AI into broader HR strategies, the need for clear governance has become more urgent.
Yet only 28% of organizations have a comprehensive AI governance policy in place. That gap creates potential compliance, operational and workforce risks. Employers should establish clear guidelines for AI use, governance and accountability to help support responsible adoption.
Employees, HR and Cyber Risk
Cyber threats increasingly target employees, making cyber risk as much a people issue as a technology issue. From phishing scams to sophisticated spoofing attacks, a single mistake can lead to significant financial and operational consequences. As cyber threats evolve, organizations that prioritize employee training, cyber awareness and strong verification practices are better equipped to reduce risk and build resilience.
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