Employee Benefit News

MAY 4, 2023

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Money Talk

MAY 4, 2023

Today, I presented a general session program for financial educators and researchers at an online professional conference. My chosen topic was Ten Trending Topics in Financial Education. Below is a brief description of the ten trends that I discussed: Inflation- The U.S. had an ascending 5% inflation rate (CPI) in May 2021 and a descending 5% CPI in March 2023 and many higher inflation rates in between.

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PayrollOrg

MAY 4, 2023

The California Department of Financial Protection and Innovation issued proposed regulations that would govern earned wage access. Comments on the proposed rules are due to agency by May 17.

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Proskauer's Employee Benefits & Executive Compensa

MAY 4, 2023

A third district court has dismissed with prejudice a complaint alleging that defendants breached their fiduciary duties under ERISA by offering 401(k) plan participants the option to invest in BlackRock LifePath Index Target Date Funds (the “Funds”). Beldock v. Microsoft , Case No. 22-cv-1082 (W.D. Wash. Apr. 24, 2023). Although the outcome of the court’s ruling here is consistent with earlier decisions, the rationale underlying the Beldock decision arguably goes further than in prior rulings

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Discover how Color's comprehensive care solution is revolutionizing cancer screening adherence and knowledge. Through an in-depth case study, Color's unique approach to comprehensive cancer care has shown significant benefits in increasing screening rates and enhancing patient knowledge. Participants reported a 2-3x increase in adherence to screening guidelines over just 8 weeks, with 84% of participants increasing their familiarity with timing and frequency of cancer screening.

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Employee Benefits

MAY 4, 2023

Social care charity Making Space has increased pay by 10%, or the equivalent of £1,950 per year for full-time staff, in order to bring wages up to the level of the living wage. Employees at social care services run by the charity, amounting to more than 1,000 people across England, received the raise in their April 2023 pay packets. Making Space confirmed that it will pay all employees nationwide a minimum of £10.90 per hour.

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WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs and dependent care FSAs.

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Workplace Insight

MAY 4, 2023

The vast majority of UK office landlords do not have a sustainability strategy in place despite evidence showing that it would increase the attractiveness of their properties to tenants, according to a new poll commissioned by infinitSpace in partnership with The Instant Group. The survey defined a strategy as several policies with an overall aim to reduce greenhouse emissions and/or promote environmentally friendly practices.

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AssuredPartners

MAY 4, 2023

Construction is a trillion-dollar industry, but construction can’t happen without subcontractors. With specialized skills, such as plumbing, electrical work, carpentry, and roofing, subcontractors allow general contractors to focus on managing the projects while adjusting their workforce to meet project demands. Because subcontractors are a vital part of the construction industry, it’s important to recognize and address their challenges.

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HR Digest

MAY 4, 2023

In a shocking revelation, an investigation conducted by the Kentucky labor department has uncovered that McDonald’s restaurants in the state have been violating child labor laws. This exposes the stark reality that large corporations like McDonald’s often prioritize profits over the welfare of their employees, especially children. According to the report, hundreds of children, some as young as 10 years old, were found to be working in McDonald’s restaurants, often for long hour

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Discover essential strategies for employers to balance cost optimization with care. The top priorities for employers in 2024 are retaining talent, growing revenue and sales, and attracting talent. To achieve these goals, employers are turning towards comprehensive total rewards strategies informed by data-driven insights. Hear from industry experts on cost optimization strategies and how to leverage these approaches for a healthier workforce.

Employment

Darwinbox

MAY 4, 2023

Darwinbox has been rated as the top Customers' Choice Cloud HCM Suite for 1,000+ Employee Enterprises in 2023 by the Gartner Peer Insights "Voice of the Customer" (VoC) report. Darwinbox received a score of 4.7 out of 5, the highest rating on Gartner Peer Insights, ahead of established vendors.

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LACE Partners

MAY 4, 2023

How do you create a positive work environment for your employees? This was just one of the questions that this week’s podcast, where Chris from our team spoke to co-founder Aaron Alburey and Client Executive Director, Tim Ringo , as well as how this can lead to an increase in engagement, belonging, and productivity (we’ve just launched a new campaign – Redefining workforce productivity – which you can read more about here ).

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Flimp Communications

MAY 4, 2023

Lower medical costs alone justify an investment in employee wellness, but that’s hardly the end of the story. What about productivity? The post The Connection Between Wellness and Productivity: Insights for HR Managers appeared first on Flimp.

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Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The research, conducted among more than 2,000 UK organisations employing 500-plus employees, found that pension scheme opt-outs were one of a number of cost saving measures, including cutting down on non-essential spending (52%).

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Explore the latest insights from the American Cancer Society's “Cancer Statistics 2024” report, which unveils multiple alarming trends in cancer data. Cancer is on the rise among young adults, and diagnoses for 6 of the 10 most common cancers are escalating. With over 2 million new cancer cases projected in the U.S. this year, employers face increased challenges when it comes to supporting employees.

Employment

HR Lineup

MAY 4, 2023

Gender pay gap refers to the difference between the earnings of male and female employees. This is a prevalent issue in many workplaces around the world, despite numerous efforts to address it. Women are still paid less than men for the same work, with statistics showing that women earn about 82 cents to the dollar earned by men. This gap is particularly pronounced in certain industries, such as technology and finance, and is more significant for women of color.

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International Foundation of Employee Benefit Plans

MAY 4, 2023

Over the past several years, May 4 has skyrocketed in popularity as Star Wars Day—as in, “May the Fourth be with you.” In honor of May the Fourth, we thought it would be fun to continue the rebellion against convention by using Star […] The post In a Benefits Plan Far, Far Away appeared first on Word on Benefits.

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TLNT

MAY 4, 2023

The missing piece in HR metrics: Employee career growth

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HR Digest

MAY 4, 2023

Employee training and development are essential for any organization’s success. It is crucial to have a well-designed and implemented employee training and development program that meets the needs of employees and the organization. In this article, we will cover the best practices for developing and implementing an effective employee training and development program.

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Advertiser: Paycor

There’s no way around it: sometimes employees need your help. Use this free template to clarify expectations, share resources, and set a timeline. Best case scenario, this process helps them improve. Worst case, your great recordkeeping keeps you compliant even if they move on. Download the template today!

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BetterUp

MAY 4, 2023

Jump to section What’s an introvert? What jobs are good for introverts?

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HR Digest

MAY 4, 2023

Elon Musk, the CEO of Twitter, has recently made a controversial decision to slash the company’s paid parental leave policy. The move, which reduces the policy from 20 weeks to just 14 days, has received backlash from employees and the general public. According to internal company documents, Musk has drastically reduced Twitter’s paid parental leave policy from 20 weeks to just 14 days.

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HR Professionals Magazine

MAY 4, 2023

By Cristie Travis Unfortunately, Tennessee sits in the middle of the obesity, diabetes, and hypertension belts in the US — a triple-threat to the health, productivity, competitiveness and economic vitality of our region. In Tennessee: 33% of adults have hypertension 13% of adults have diabetes 34%, 3 times the number of people diagnosed with diabetes, have pre-diabetes, and without lifestyle changes, most people with pre-diabetes will develop type 2 diabetes in 5-6 years.

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Employee Benefits

MAY 4, 2023

Grocery retail giants Ocado and Tesco Stores are among those shortlisted for the Best financial wellbeing strategy category at the Employee Benefits Awards 2023. At a time when living costs and inflationary pressures are rising, this award recognises those employers which succeeded in improving and supporting the financial wellbeing of staff during 2022.

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Performance reviews are a proactive way to engage with your employees, provide clear communication about expectations, and acknowledge them for their hard work. But getting the right framework and creating consistency across your organization can be tricky. We put together this checklist to help you evaluate your current performance review process and equip managers with the right tools to perform individual assessments.

Management

HR Lineup

MAY 4, 2023

Kahuna is a workforce management platform that helps companies manage their hourly workers more effectively. The platform provides a range of tools that allow businesses to optimize their workforce and maximize productivity, while minimizing costs and reducing turnover. One of the key features of Kahuna is its scheduling tool, which allows managers to create and manage schedules for their employees in real-time.

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HR Professionals Magazine

MAY 4, 2023

By Kisha Moliere It is common to think of benefits administration technology (ben admin) platforms as a tool that only facilitates employee benefits enrollment and transfers benefits eligibility data between carrier and payroll systems. However, ben admin platforms can also leverage modern technologies to alleviate HR administrative burden and improve employees’ overall benefits experience.

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Higginbotham

MAY 4, 2023

What is supplemental life insurance? It’s a type of life insurance policy that’s often available through work and provides additional coverage. If your employees need affordable, accessible life insurance options to fill in coverage gaps – and if your company needs to boost employee morale and support recruitment and retention – supplemental life insurance could be the solution.

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BerniePortal

MAY 4, 2023

We have all gone to work in a bad mood. Maybe you got into an argument with a spouse or significant other. Perhaps you were up all night with a sick child and are absolutely exhausted. Or, maybe you just had one of those mornings - ya know, the ones where you’re sprinting out the door, spill your coffee in the process, don’t have time for breakfast, and definitely didn’t brush your hair or your teeth.

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Are you looking for ways to enhance your employee value proposition? Gallagher Better Works SM Insights has got you covered! Dive into the latest magazine issue and discover how flexibility, equity, recognition and strategically applied resources can improve your total rewards package. Download the PDF to learn more about: Building retirement benefits for a global and mobile workforce Promoting employee and organizational growth through succession planning Empowering women in leadership through

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