Top 6 Topics from the Public Sector in 2023

Top 6 Topics from the Public Sector in 2023

As we approach the end of 2023, thoughts inevitably turn to the biggest impacts throughout the year.

In today's global economy, benefits and technology are a primary asset for organizations, making it imperative for companies to get a clear picture of what’s happening and where there might be problems. However, as you prepare for 2024, let’s look back at the top six strategies that are important to remember for year-end planning.

1. How Benefits & Technology Can Help Public Sector Entities Overcome Quiet Quitting

The term “quiet quitting” went viral in 2022. After three tumultuous years of lockdowns, increasing employee burnout and shifting expectations for work-life balance, the phrase resonates with public sector employees and employers alike. Quiet quitting sparks passionate reactions and prompts public sector entities to seek fresh solutions to enhance employee engagement.

When employees practice quiet quitting, they dial back on their engagement and enthusiasm. Overall, they’re less invested in the organization’s success and don’t push to take on new projects or volunteer for extra tasks. Among federal government employees, the global satisfaction rate measuring morale continues to decline, dropping by 2 percentage points in 2022. Gen Z and younger Millennials are driving the drop in engagement, with less than 40% in the total workforce reporting that they understand their role and what’s expected of them… read more

2. 5 Actions Schools Can Take to Mitigate Active Shooter Risks

The statistics continue to be sobering. There were 51 K-12 school shootings, resulting in injuries or deaths in 2022 — the highest annual total since 2018. In the first three months of 2023, there were more shootings with more victims compared to the same timeframe in 2022.

School districts remain focused on their top priority — keeping students safe from harm by implementing and enhancing security processes as insights evolve. At the same time, states are enacting new laws designed to help schools protect students, prevent active shooter events and mitigate overall risk. The laws are rapidly changing and vary widely across states. Keeping up with the latest guidance and complying with current state requirements can be challenging, but being out of compliance is not a viable option from either a student-safety or school-liability perspective.

In recognition of Gun Violence Awareness Month and best practices based on recent state laws, here are five actions for schools to consider… read more

3. Navigating the Long-Term Pension Cost Implications of Rising Public Sector Wages

After hitting 40-year highs in 2022, inflation rates are trending down. But the decline is expected to be gradual, slowed by continuing inflation for housing, health care, food and energy. In response, the public sector is following the lead of private sector employers by implementing larger-than-average pay increases. For example, civilian federal government employees will receive an average 4.6% pay bump in 2023, a significant increase from the more traditional increase of 2.7% in 2022.

The salary increases are designed to do more than help employees manage rising costs. They’re also aimed at helping public sector employers compete for and retain skilled workers. The U.S. job market remains challenging, with hiring rates outpacing quit rates.

While salary is the primary consideration when workers make employment decisions, retirement benefits rank second. Access to a defined benefit pension appeals to many employees, especially in a challenging economy, because market performance does not affect the plan’s benefits. However, salary and pension benefits are interrelated. Today’s pay increases will have long-term implications for the public sector’s valued retirement benefits… read more

4. 5 Critical Pension Administration Automation Advantages for Public Sector Entities

Traditional pension plans remain the norm in the public sector industry. Today, there are more than 5,000 public sector pension plans in the U.S., with many state and locally administered plans dating back to the 19th century. Through 2021, these plans serve 15 million active members and nearly 12 million retirees with annual benefit distributions totaling $340 billion.

While the administration of these plans has evolved through the years, many public sector entities aren’t fully optimizing the advantages of automation, with some still relying on manual processes and spreadsheets. When evaluating the capabilities of a modernized Pension Administration System (PAS), here are five critical automatic advantages to consider… read more

5. The Critical Role Pensions Can Play in Recruiting and Retaining Public Safety Workers

Today’s hiring market in the U.S. is uniquely challenging, and the public sector is no exception. The sector faces acute and complex challenges when competing to attract and retain talent for public safety jobs, including law enforcement, fire services and emergency medical services.

On top of it all, cities and counties find themselves competing with each other based on pay and benefits to help them hire and keep public safety employees. As a result, many forward-thinking entities are taking a fresh look at their defined benefit pension plans and how they can provide a differentiator in the competition for talent. As public sector employers seek to differentiate their pay and benefits to attract and retain public safety employees, enhancing defined benefit pension plans is an appealing and effective option… read more

6. 5 Ways to Implement a Structured Hybrid Work Model in the Public Sector

The five-day, in-office work week may be a thing of the past for many public sector firms. Companies are defining the right mix of remote and onsite work. And many are putting new parameters around their hybrid work models to help drive increased collaboration and strengthen company culture.

The shift to remote work during the pandemic accelerated work-from-home trends and introduced new work-life flexibility for employees. As safety concerns lessened, workers remained reluctant to return to the office full-time. In response, many companies opted to continue remote work options or adopted optional in-office models. Now, companies are seeking to optimize the best of remote and in-person work by adding more structure around what hybrid work should look like.

As companies consider mandating a return to the office, best practices are emerging that optimize the benefits of in-person collaboration while maintaining some element of flexibility working from home… read more

These topics remain a concern for public sector entities. As we approach 2024, our industry experts at CBIZ can help you evaluate your goals. Connect with a member of our team and gain access to more resources here

Top 6 Topics from the Public Sector in 2023https://www.cbiz.com/Portals/0/Images/GettyImages-526272636-1.jpg?ver=crxkniCvn-RssE3qECFmGg%3d%3dhttps://www.cbiz.com/Portals/0/Images/GettyImages-526272636-1.jpg?ver=crxkniCvn-RssE3qECFmGg%3d%3d2023-11-21T18:00:00-05:00

Benefits and technology are a primary asset for organizations, making it imperative for companies to get a clear picture of what’s happening and where there might be problems. However, as you prepare for 2024, let’s look back at the top six strategies that are important to remember for year-end planning.

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