May, 2023

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Paul Gilshan: Are employee benefits as important as salary?

Employee Benefits

Employee benefits are an important aspect of any job, but can be overlooked when thinking about changing roles. Depending on those on offer, benefits can be just as valuable as a pay rise , and in some cases, even more valuable. It is quite natural for us to focus on salary. After all, we all need to make a living. However, benefits are an important aspect of any offering from an organisation, as good benefits can provide security, flexibility, and peace of mind, contributing to a more positive

Salary 98
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Can Pay Transparency Rules Ever Unbridle the Taboo of Sharing Salaries?

HR Digest

The deeply embedded generational norms and cultural taboo of sharing salaries are being eroded as a new wave of pay transparency rules inundated America’s workplace problems. At the beginning of 2023, Washington, New York, and California joined Colorado’s leaders in preparing for salary transparency for most open jobs. This article discerns the contours of workplace problems and equity challenges that have long been shrouded in the garb of pay.

Salary 105
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More Employers Expand Mental Health Benefits

InterWest Insurance Services

American workers are more stressed than ever coming out of the pandemic, and an increasing number of people are also struggling with mental health issues. Sadly, the number of people dying from drugs, alcohol and suicide hit record levels in 2022. When someone is battling addiction or has mental health issues, it affects all aspects of their life, including work.

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Buyer’s guide to group dental plans

Employee Benefits

What are group dental plans? Dental plans are a type of insurance or cash plan that specifically cater for oral health, helping staff afford regular dentist visits for preventative and routine care, such as accident and emergency cover, crowns, implants and fillings, as well as larger issues such as treatment for oral cancer. Dental cover can either be provided in the form of traditional insurance, where staff can make a claim for the diagnosis and treatment of conditions that develop after taki

Insurance 105
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Using an HSA to Save for Health Care in Retirement

Saving for retirement is no easy task, and as an employer we know you want to help your employees get what they need out of their retirement benefits. With a health savings account (HSA), you can relieve the burden of health care costs for both you and your employees. With our new report, “Using an HSA to Save for Health Care in Retirement,” you can get insights on the costs of a modern retirement and dive into the details of the triple-tax benefits HSAs offer.

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How to position group risk benefits to support long-term health issues

Employee Benefits

Communicating the value of group risk products and the areas in which they protect staff is key. Group risk schemes often offer added services that can further support staff. Early intervention can increase return-to-work rates following a long-term health issue , so it is key to communicate who staff can contact and when. Group risk benefits can help employees deal with many conditions, but employers should consider how best to promote them in order to support those with long-term health issues

Pension 111

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Grant Recipients Receive a Wealth of Payroll Education

APA Congress Today

PayrollOrg (PAYO) and Wisely® by ADP joined forces during the 41st Annual Payroll Congress to provide payroll professionals with payroll education packages.

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Metro Bank offers support for employees going through separation

Employee Benefits

Launched in 2010 as the first new high street bank in more than 100 years, Metro Bank now employs nearly 4,500 people across the UK. To show its support for employees going through separation, it signed up to the Positive Parenting Alliance’s HR Initiative when it was launched in January 2023. Khushboo Patel, head of engagement and inclusion at Metro Bank, says: “Our colleagues are at the heart of what we do and we want them to feel supported whatever they are going through in their lives.

Banking 105
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The Future of Remote Work: Challenges and Opportunities

HR Digest

Remote work has been a growing trend for several years, but the COVID-19 pandemic accelerated this trend significantly. The sudden shift to remote work forced many companies to adapt quickly to a new way of working, and the results have been mixed. Some companies have found that remote work can be highly effective, while others have struggled with the challenges of managing remote teams.

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District Court Holds Employer “Expelled” From Plan May Not Have Effected a “Withdrawal”

Proskauer's Employee Benefits & Executive Compensa

In Central States v. Wingra , No. 21-cv-3684, 2023 WL 199360 (N.D. Ill. Jan. 17, 2023), the district court held that an employer expelled from a multiemployer pension plan may not owe withdrawal liability because the permanent cessation of the employer’s obligation to contribute was not voluntary. While the court subsequently limited the decision as being for discovery purposes only ( see Central States v.

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Creating a Company Culture of Care: Integrating Mental Health, Wellbeing, and DEI in Benefits

Speaker: Sean Raible

Picture a workplace where physiological safety is not just an aim but a reality, driven by thoughtful employee benefits that prioritize mental health, wellbeing, and DEI. 🤔 ✨ Achieving this vision requires more than just occasional training sessions and employee assistance programs. Moving beyond the basics, this vision calls for a holistic approach that integrates these elements into your company culture as well as your HR and benefits strategy.

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Useful Information from 2022 Webinars- Part 2

Money Talk

As I noted in a previous post , I periodically summarize notes taken from various webinars that I think might be useful to others. Below are seven information tidbits that caught my eye: Defensive Investing- Financial markets were volatile in 2022 and, for a while, “there was no (good) place to hide.” Stocks and cryptocurrencies experienced big drops in value, bond prices decreased when interest rates rose, and cash assets were eroded by high inflation.

Finance 245
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Examples of poor communication in the workplace

Business Management Daily

Poor communication in the workplace can happen at any and every level. Regardless of whether it involves top brass or a brand-new hire, the result is often an undesirable mess. But what does poor communication look like? Many people might explain it differently, yet we typically recognize it when we see it. In order to improve communication , it’s necessary to understand what poor communication skills look like and their negative impact on the workplace.

Health 124
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12 Tips to Achieve and Maintain a Good Work-Life Balance

BetterUp

Feeling like all you do is work? You’re not alone. Several statistics show that more than 60 percent of U.S. employees feel like their work-life balance is out of whack. But how do you balance your work-life with so much work happening at home? And how do you balance your workload to be more efficient? Is it more than just hitting a weekly yoga class ?

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12 Experts Weigh In On Why You Need An Employee Handbook

Genesis HR Solutions

We’ve talked about the importance of an employee handbook from our perspective, but we thought it would be interesting to hear directly from CEOs, business owners, and HR managers about how employee handbooks have made a difference at their companies. Check out their perspectives below—you’ll likely find something that surprises you! Unfortunately, most employers don’t have a handbook that thoroughly addresses the processes and activities of their employees.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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Gi Group promotes group risk benefits that support long-term health issues

Employee Benefits

Recruitment firm Gi Group offers group risk products to support its employees experiencing a range of health conditions that affect both their mental and physical health. The group, which employs more than 650 members of staff, offers life assurance at four times employees’ basic salary from day one of employment, critical illness insurance, a health cash plan and private medical insurance, through which employees can access a 24/7 GP.

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Teamwork and transitions: How to build team cohesion during change

Insperity

From time to time, you may need to reorganize your teams, bringing in new members from a different part of your organization or even externally. To work cohesively and collaboratively, the people involved will have to first learn each other’s personalities and work styles. The change you’re making, whether planned or unplanned, is necessary.

Health 111
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Barbservations from Three Retirement-Focused Webinars

Money Talk

I recently attended three webinars related to retirement planning. One discussed required minimum distribution (RMD) rules, the second, retirement planning in general, and the third, the FIRE ( F inancial I ndependence, R etire E arly) movement. Below are eight key take-aways from these programs: Simple RMD Description - The IRS wants their cut of your retirement savings that they have been waiting to take for decades.

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Dismissal Streak Continues in BlackRock Target Date Fund Litigation

Proskauer's Employee Benefits & Executive Compensa

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

401(k) 110
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6 Strategies to Navigate Social Determinants of Health for a Better Workplace

In today’s dynamic work landscape, where the lines between personal and professional life blur, understanding the intricate interplay between social determinants of health (SDoH) and emotional wellbeing is paramount. Employers must acknowledge that the whole person comes to work and every aspect of a person’s personal and professional life, especially their mental health, comes with them.

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LGBT-Friendly Workplace: 3 Ways to Make It Inclusive

HR Digest

Creating an LGBT-friendly workplace isn’t just the right thing to do, it makes business sense, too. “Inclusive workplaces ensure employees are safe, respected and able to fully contribute” says Jackie Ferguson, Head of Content & Programming at The Diversity Movement. As LGBTQ professionals are more able to be out at work, it’s every company’s responsibility to make its queer-friendly workplace by improving LGBTQ+ inclusion at work and creating an inclusive work culture to make queer em

IT 110
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3 Ways Financial Stress Impacts Different Generations

Best Money Moves

3 ways financial stress impacts different generations. Learn more about how financial stress can vary across generations — plus what you can do to dial down your employees’ financial worries. Money habits vary across the generations in your workforce. After all, the financial needs of a Gen Z employee are going to be different than those of Baby Boomer.

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Cardinal Global Logistics becomes employee owned

Employee Benefits

Manchester-headquartered logistics services business Cardinal Global Logistics has transitioned to an employee ownership model to mark 25 years in business. The business, which employs more than 400 employees, aimed to create an environment where every member of staff has the same opportunity to become a partner in its democratisation model, sharing in the profits it generates each year.

Banking 111
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When extroverts and introverts collide – new lessons in conflict

TLNT

In most workplaces today, it has (quite rightly) become the accepted norm that there can be no room for certain types of conflict – that is anything which constitutes bullying, or any conflict which borders on being discriminatory or that resembles harassment.

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HR Trends to Watch in 2024 + Plus Advice for Driving Impact!

The pressure is on to create a positive onboarding experience. Plus, a sub-par onboarding process can domino into other concerns such as low performance, burnout (for you and new hires), and retention challenges. Our 2024 State of HR report will give you a realistic picture of the HR landscape and tips to onboarding effectively in the year to come.

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Insights From a Financial Education and Research Conference

Money Talk

I recently attended a virtual conference sponsored by FERMA , which included dozens of sessions about topics of interest to personal finance educators and researchers. Below is a summary of new and/or useful information that caught my attention: Fast Fashion - Key characteristics are short production and distribution lead times, highly fashionable product design through continuous trend spotting, and a sense of urgency and scarcity so consumers make frequent purchases.

Education 244
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Seventh Circuit Affirms Discretion Over Who Gets Severance Benefits

Proskauer's Employee Benefits & Executive Compensa

A recent Seventh Circuit decision affirms the principle that an ERISA severance plan can reserve to the employer discretion over who is eligible for severance benefits. The case is Carlson v. Northrop Grumman Severance Plan , No. 22-1764, __ F.4th __, 2023 WL 3299703 (7th Cir. May 8, 2023). The case involved former Northrop Grumman employees who were laid off in 2012 and claimed a right to severance under Northrop Grumman’s severance plan.

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HR Digital Transformation: 6 Steps to Adopting Smooth Transition

HR Digest

HR digital transformation is a hot topic for many HR professionals , and it should be, since digital technology has the potential and ability to transform HR as we know it. One of the key themes for many organizations in the next 10 years will be digital transformation. Digital adoption and transformation is a key development for most organizations in their strategic goals.

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5 conflict management styles and when to use them

Business Management Daily

People do not always agree. This simple statement holds true in all types of environments, including workplaces. But since decisions need to be made, involved parties must find ways to resolve conflicts. They also must keep in mind that how matters get settled impacts relationships. Individuals often handle conflict resolution in ways consistent with their personalities and past experiences.

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Improving Access To & Utilization Of Cancer Screening With Color

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.