Healthcare Provider Update: Healthcare Provider for BorgWarner BorgWarner offers health insurance coverage to its employees, but specific provider details can vary by location and plan. Typically, they provide options that may include large health insurance networks like Blue Cross Blue Shield or Cigna, as well as other regional insurers depending on the geographic area. Employees should check with their HR department for the precise providers available to them under BorgWarner's health plans. Projected Healthcare Cost Increases for BorgWarner Employees in 2026 In 2026, BorgWarner employees are likely to face significant healthcare cost increases as many factors converge to drive premiums higher. A report indicates that with the anticipated expiration of enhanced ACA federal subsidies, rising medical expenses-especially around specialty medications-and insurer rate hikes could see out-of-pocket premium costs soaring by as much as 75% for many individuals. Coupled with employers' plans to raise deductibles and out-of-pocket maximums to manage rising expenses, this could leave employees grappling with the financial implications of their healthcare coverage. Therefore, it is essential for BorgWarner employees to carefully review their health benefits and strategize to mitigate these rising costs. Click here to learn more
'BorgWarner employees should view rehiring opportunities not just as a return to familiar ground, but as a strategic career move to leverage experience and negotiate improved terms, especially in today's fluid labor market,' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.
'BorgWarner employees navigating rehiring offers should carefully assess their financial goals and career growth opportunities before returning, turning workforce shifts into a strategic advantage,' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.
In this article, we will discuss:
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Evaluating whether to return to a former employer after a layoff.
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How companies like BorgWarner are using technology to streamline rehiring.
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The strategic advantages for both employees and employers in the rehire process.
Many BorgWarner employees, along with others in the energy sector, have experienced the flux of being laid off and then rehired, reflecting the unpredictable waves of the labor market. Notably, even industry giants like BorgWarner have been part of this trend, recalling employees to navigate through the changing economic landscapes and operational needs.
The decision to return isn't merely about accepting a job offer; it involves a thorough assessment of one’s financial status and other available job prospects. Career adviser Debra Wheatman recommends that individuals evaluate their current financial health and job market opportunities to make a well-informed decision.
Gaining a bit of leverage is often a part of this process. As Wheatman points out, returning employees might have the opportunity to negotiate better terms than before, potentially leading to improved roles, higher compensation, or more stable job conditions at BorgWarner.
However, individual stories reveal diverse experiences. For example, after a brief layoff from a marketing agency, Jessica Swenson chose to return as a contractor, finding that the flexibility better suited her career aspirations, emphasizing the growing importance of adaptability in professional settings.
Conversely, Kristie Jones, who dealt with an impersonal layoff process, opted not to return to her previous employer, moving instead into consultancy. This shift underscores a common path for many who seek independence after corporate disenchantments.
BorgWarner is leveraging advanced technologies like artificial intelligence through platforms like Visier, which meticulously track employment records to streamline the rehiring process. This methodical approach aids in aligning qualified candidates with suitable positions efficiently, utilizing detailed data analysis [source needed].
Moreover, the corporate recognition of rehiring's advantages, such as reduced onboarding time and familiarity with company culture, is increasing. Reemployed individuals often adapt more quickly and cost-effectively, providing a quicker return on investment for the company.
The manner in which layoffs are executed is crucial, as it affects the likelihood of rehiring. Fostering a respectful layoff process helps preserve professional relationships and keeps a pool of potential candidates ready for when market conditions favor reemployment.
Matt Massucci, CEO of Hirewell, notes that the reasons behind a separation—be it performance issues, strategic shifts, or economic factors—greatly influence rehire possibilities. Both BorgWarner and its workforce must navigate these complexities with a clear understanding of each other's perspectives.
Ultimately, the decision to return to BorgWarner should come after thoughtful consideration of the pros and cons, influenced by the initial separation's circumstances. As the labor market evolves, such decisions are increasingly viewed as strategic career moves rather than mere opportunities.
The concept of 'unretirement' is becoming prevalent, especially among older workers nearing retirement age. A significant portion of retirees reenters the workforce, driven by the need for engagement or financial necessities. Companies, including BorgWarner, appreciate the unique perspectives and reliability that seasoned professionals bring during turbulent economic periods.
Explore how to handle rehire proposals and draw on your experience when considering a return to BorgWarner after a layoff. Learn from others who have navigated this path successfully and understand how your familiarity with the company can reduce onboarding challenges and facilitate a smoother reintegration.
Reflecting on the labor market's fluid nature, consider the analogy of ocean tides. Just as tides ebb and flow, BorgWarner might reduce its workforce during downturns but also reengage skilled professionals when conditions improve. For those seasoned in navigating these shifts, it presents an opportunity to reassess and potentially return to a familiar environment, equipped with experience and strategic foresight.
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- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
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Source:
1. Weber, Lauren. 'The Company That Laid You Off Wants You Back. What Do You Say?' The Wall Street Journal , 24 Apr. 2025, www.wsj.com/articles/company-layoffs-rehiring-employees-2025 .
2. Cadmus, Jay. 'I Was Laid Off at 55 and Took 6 Months to Find a Job.' Business Insider , June 2024, www.businessinsider.com/laid-off-older-workers-rehire-job-hunt-2024-6 .
3. Schooley, Skye. 'Best Layoff Practices: Can You Lay Off and Hire at the Same Time?' Business News Daily , 23 Oct. 2023, www.businessnewsdaily.com/15785-layoff-rehire-best-practices.html .
4. Cook, Ian. 'Hiring After Layoffs: What Employers Need To Know.' Visier , 19 Sept. 2023, www.visier.com/blog/hiring-after-layoffs/ .
5. Fischman, Wendy. 'Rehiring Furloughed and Laid-Off Workers Post-Pandemic.' Potomac Law Group , 13 May 2020, www.potomaclaw.com/news-rehiring-furloughed-laid-off-workers .
What is the 401(k) plan offered by BorgWarner?
The 401(k) plan at BorgWarner is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How does BorgWarner match employee contributions to the 401(k) plan?
BorgWarner offers a matching contribution to the 401(k) plan, which means they will match a percentage of the employee's contributions up to a certain limit.
Can employees at BorgWarner contribute to their 401(k) plan through payroll deductions?
Yes, employees at BorgWarner can contribute to their 401(k) plan through automatic payroll deductions, making it easy to save for retirement.
What is the eligibility requirement for BorgWarner's 401(k) plan?
Employees become eligible to participate in BorgWarner's 401(k) plan after completing a specified period of service, which is typically outlined in the plan documents.
Does BorgWarner offer a Roth 401(k) option?
Yes, BorgWarner provides a Roth 401(k) option that allows employees to contribute after-tax dollars, with the potential for tax-free withdrawals in retirement.
How can employees at BorgWarner access their 401(k) account information?
Employees can access their 401(k) account information through the designated online portal provided by BorgWarner's plan administrator.
What investment options are available in BorgWarner's 401(k) plan?
BorgWarner's 401(k) plan typically offers a range of investment options, including mutual funds, target-date funds, and possibly company stock.
Can employees at BorgWarner take loans against their 401(k) savings?
Yes, BorgWarner allows employees to take loans against their 401(k) savings, subject to certain conditions and limits set by the plan.
What happens to my BorgWarner 401(k) if I leave the company?
If you leave BorgWarner, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the BorgWarner plan if permitted.
Is there a vesting schedule for BorgWarner's 401(k) matching contributions?
Yes, BorgWarner has a vesting schedule for matching contributions, meaning employees must work for the company for a certain period to fully own those contributions.