Best Money Moves
NOVEMBER 15, 2022
3 ways to recession-proof your benefits program. How can your workforce prepare as a recession looms on the horizon? Here are 3 ways to recession-proof your benefits program. . With a potential recession on the horizon, employers must focus on the financial wellbeing of their employees. Thirty-one percent of Americans are unprepared for an economic downturn, according to a report by Bankrate.
Enjoy Benefits
NOVEMBER 17, 2022
By Tom Smith Quiet quitting is a new significant change in workplace culture that is dominating social media. It has nothing to do with actually quitting your job, however. Instead it means only doing exactly what your role demands and nothing more. So no longer going the extra mile or staying at the office late into the evening. Due to the strains created by the pandemic, an increasing number of workers – young and old, across a wide range of sectors – are saying they’re tired of la
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TalentCulture - Employee Benefits
NOVEMBER 14, 2022
What benefits are top-of-mind for organizations that want to attract and retain great talent in today’s challenging talent market? Many are finding it pays to step outside the standard benefits box with creative options that meet diverse employee needs. For example, caregiving benefits are gaining strong momentum. To learn more about this, we asked business […].
Employee Benefits
NOVEMBER 17, 2022
Image credit: photocosmos1 / Shutterstock.com. Autumn budget 2022: The government has agreed to raise the national living wage by 9.7% from April 2023. In his autumn budget address to the House of Commons, Chancellor of the exchequer Jeremy Hunt (pictured) stated that he had accepted recommendations made by the Low Pay Commission to increase the national living wage to £10.42 for 2023, representing a pay rise of more than £1,600 for the average full-time employee.
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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.
International Foundation of Employee Benefit Plans
NOVEMBER 17, 2022
As the workplace becomes more diverse, employers may want to consider whether their schedule of paid holidays accommodates the needs of all of their workers. The post <strong>Inclusive Paid Holidays</strong> appeared first on Word on Benefits.
Comp and Benefits Today brings together the best content for compensation and benefits professionals from the widest variety of industry thought leaders.
Employee Benefits
NOVEMBER 16, 2022
Understandably so, individuals are anxious and stressed by the ongoing economic disruption, even if they are not directly impacted. Here at Fujitsu, employee wellbeing support is a constant, but the focus is ever evolving. In 2020, much of our attention was on helping our people to navigate the various physical and mental challenges brought on by the pandemic, but so much has changed since then.
Higginbotham
NOVEMBER 17, 2022
Your employees provide their time; in return, you pay them. It sounds like a simple transaction, but, as many employers know, it’s not always this straightforward. In addition to the benefits, bonuses and taxes that can complicate payroll, employers need to comply with payroll garnishment rules. . What are payroll garnishments? . When someone owes money, a court may order a payroll garnishment (also called a wage garnishment).
PeopleKeep
NOVEMBER 14, 2022
To save on healthcare costs , more employers are adopting reimbursement models like health reimbursement arrangements (HRAs) for their employees’ health benefit, empowering employees to choose their own individual health plan and get reimbursed, tax-free, for their premiums. While the freedom to choose your own policy is great for your healthcare, it can be daunting to shop for your own insurance plan if you’ve never done it before.
Money Talk
NOVEMBER 15, 2022
One of the largest items in household budgets is car insurance. According to Bankrate, the average annual cost of car insurance in June 2022 was $1,771 per year ($148 per month) for full coverage and $545 for just the minimum coverage required by state law. Of course, individual insurance premiums vary widely according to multiple factors (e.g., driver characteristics, type of vehicle, location of vehicle, and the current economic climate for labor and parts costs).
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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
Employee Benefits
NOVEMBER 18, 2022
Something for the weekend: Almost half (47%) of England and Wales supporters intend to pull a sicky to watch their nation play at this year’s football World Cup. Bookmaker Paddy Power partnered with Research Without Barriers to survey 2,002 football fans from England and Wales. The research found that 46% admitted they plan to skive off work at some point during the tournament, due to three of the daily kick-off times clashing with the nine to five working day.
HR Digest
NOVEMBER 14, 2022
Have you heard the saying, “Don’t let your emotions get the best of you” before? Well, if you understand what it means, you’ll agree that it’s vital and recognize and manage your emotions at work. We are often so carried away by our feelings that we make decisions based on them without thinking rationally. This is especially true for the modern workplace , where we tend to easily reiterate how we feel, either by causing a commotion or using hurtful words (even when we don’t mean to).
BetterUp
NOVEMBER 18, 2022
Despite your best retention efforts, people in critical roles will inevitably leave. Therefore, succession planning is vital to minimize gaps in leadership positions. But succession planning is more than simply bridging the gap between open roles and leadership positions. In many ways, succession planning is about leadership development to make sure your workforce can reach its fullest potential.
Workplace Insight
NOVEMBER 17, 2022
The Great Workplace Circus headlines its 322nd show of the year with everybody’s favourite distraction, Elon Musk, being driven into the ring by his own shoddily built clown car, declaring he needs everybody at Twitter to be ‘ extremely hardcore ’ before sacking a few people from his space programme, then setting fire to the tent himself. The swarm of stories spawned by this extraordinary behaviour include this tired and predictable rant in the Telegraph about ‘lazy Brits’.
Advertiser: Paycor
HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.
Employee Benefits
NOVEMBER 17, 2022
Autumn budget 2022: The government has decided to maintain the current freeze on employers’ national insurance (NI) contribution thresholds for a further two years. Chancellor of the exchequer Jeremy Hunt told the House of Commons in his autumn budget that the freeze would continue to April 2028. In addition, the employment allowance will be retained at a higher level of £5,000 until March 2026.
HR Digest
NOVEMBER 16, 2022
Employee loyalty is like sand. The more firmly you grasp something, the more probable it is to escape from your grasp. Retaining employees has never been an easy nut to crack. There are a hundred and one things you could improve about your retention strategy, but there’s always that one thing that makes the employees feel ignored and makes them leave.
InterWest Insurance Services
NOVEMBER 15, 2022
Despite the Workers’ Compensation Insurance Rating Bureau recommending that benchmark rates in California be increased in the last two years, the rates that insurance companies are charging for coverage continue falling. But the party may soon be coming to an end, according to a new report. The California Department of Insurance in fact rejected the Rating Bureau’s rate hike recommendations in both in 2021 and 2022 when it had asked for 2.7% and 7.6% increases respectively, and it or
Workplace Insight
NOVEMBER 16, 2022
A new report from the UK’s Department for Education claims that over half of adults in England (52 percent) would consider developing a portfolio career if they had more confidence in their own abilities. The figure rises to 71 percent for those working in HR, and 45 percent of workers would do so if they suffered less from so-called imposter syndrome.
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As HR and Benefits leaders are in the midst of evaluating cancer care solutions and designing their requirements for vendors, it’s key to know what questions to ask to ensure the development of a truly comprehensive strategy: from prevention to diagnosis to treatment to survivorship. Getting to the right answers starts with asking the right questions: How can better access improve engagement?
Employee Benefits
NOVEMBER 16, 2022
Housebuilder Barratt Homes is to give an additional £1,000 to 95% of its workforce in order to help with the rising cost of living. More than 6,800 employees under the firm’s grade 5a tier will be eligible for the payment. The support will not change other pay-related benefits , such as pension contributions. David Thomas, chief executive officer of the Leicestershire-based firm, told staff in a letter on 15 November that they will receive the hand-out in equal instalments over the first six mon
Abel HR
NOVEMBER 17, 2022
It’s that time of year when everyone begins to eagerly anticipate the holidays. That includes your employees, who are probably wondering how you will plan to celebrate. Need some fresh ideas for this year’s festivities? If so, we have a few that will get you started. Host a Decorating Contest. Provide everyone with a basket full of garland, glitter, and small ornaments.
Qandle
NOVEMBER 14, 2022
An annual performance assessment and letter of appreciation for an employee’s efforts during the year. 89%. That’s how many heads of human resources think it’s crucial to regularly assess employees’ performance. A performance review, however, isn’t complete without an official letter of evaluation, right? And you’ve found the proper location if you want to compose an evaluation letter.
Workplace Insight
NOVEMBER 15, 2022
A new US study conducted by IWG claims that employers view the hybrid working model as an essential part of their toolbox when it comes to recruitment, hiring and retention, with nearly 95 percent of HR leaders saying it is an effective recruitment tool. Released today, the ‘HR Leaders & Hybrid Working Report’ examines findings from a poll of more than 1,000 HR professionals at managerial and board level.
Advertiser: Barley
Compensation is one of your biggest expenses as a business, but it is also your biggest investment in your people and your culture. A great compensation strategy can be an incredible asset that supports your business goals and lays a foundation of trust between your company and your employees. Whether you already have a compensation strategy in place or you’re building one from scratch, this guide will help you level up your approach through these 6 steps: 1.
Employee Benefits
NOVEMBER 15, 2022
In its blog published 4 November, AE has come a long way, but we all have further to go, the Pensions Regulator (TPR) recognises the successes of automatic-enrolment in encouraging retirement saving. It also acknowledges that it could do more to enforce employer compliance with AE obligations. Is there scope, 10 years on from auto-enrolment’s introduction, to look beyond employer duties and adjust the parameters of auto-enrolment itself to increase engagement by savers?
AssuredPartners
NOVEMBER 15, 2022
As per Notice 2022-59, the IRS is adjusting the fee that insurers or self-insured health plan sponsors will pay to fund the federal Patient-Centered Outcomes Research Institute (PCORI) trust fund for plan years ending on or after October 1, 2022 and prior to October 1, 2023. The fee will now be $3.00 per plan enrollee , up from $2.79 for the 2022 plan year.
Insperity
NOVEMBER 15, 2022
Wage growth, record-high inflation and an extremely competitive labor market have all put business leaders in a difficult position. Anyone involved in hiring and retaining employees is torn between important and seemingly contradictory objectives: Address employees’ pain and concerns about the increased cost of living so you can prevent them from disengaging or leaving the company in search of a higher salary elsewhere. ( The Great Resignation is ongoing, after all.).
Workplace Insight
NOVEMBER 16, 2022
Employees who perceive management controls to be restrictive and punitive will develop dysfunctional and negative responses to the organisation where they work, according to a new study involving the University of East Anglia (UEA). These responses might be observed through what the researchers call ‘workplace deviance’ – for example absenteeism, reducing effort, daydreaming, taking longer breaks – and turning a blind eye, also referred to as ‘deliberate ignorance’ by the research team fro
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Hiring a new employee is an expensive and time-consuming process. According to the Society for Human Resource Management (SHRM), it typically costs $4,425 to hire a new employee — not to mention the 36 days the average team spends trying to fill a position. Yet nearly 1 in 5 employees (16%) of employees quit in their first week — and 17% leave after the first month.
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