Sat.Dec 31, 2022 - Fri.Jan 06, 2023

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A Complete Guide on Salary Transparency

HR Lineup

Salary transparency is the practice of openly disclosing the wages and salaries of all employees within an organization. It has gained popularity in recent years as a way to promote fairness and equity within the workplace. However, implementing salary transparency can be a complex process, with various considerations to take into account. This guide will provide a comprehensive overview of salary transparency, including its benefits, how to successfully implement it within your organization, an

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7 essential graphs to shape your financial wellbeing strategy

Employee Benefits

If you lead HR, benefits or rewards at your organisation, these insights will help you plan your financial wellbeing strategy and move your people forwards. Inflation is putting pressure on every household in the UK and worldwide. It’s leading to unavoidable rises in household spending while wages remain the same. As a result, many HR, benefits and rewards specialists are focusing on financial wellbeing, creating strategies to ensure their employees’ financial health is supported and financial s

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Benefit Trends—Health Care Cost-Containment Strategies

International Foundation of Employee Benefit Plans

According to a recent International Foundation survey report, health care costs are expected to increase by 7% between 2022 and 2023. In response to the cost escalation, health care plan. Read more > The post <strong>Benefit Trends—Health Care Cost-Containment Strategies</strong> appeared first on Word on Benefits.

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Hours Paid for Hours Worked: Compensable Time and Paying Your Employees

Patriot Software

You may have heard the phrase “If you have time to lean, you’ve got time to clean.” It’s a saying beloved by managers across the country and cuts to the core of the nonexempt employee/wage relationship. Nonexempt employees get paid because they work for a certain period of time. But what if an employee is […] Read More.

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The Ultimate Performance Review Checklist

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.

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Mobile integrated health models cut costs and improve care

Employee Benefit News

More Trending

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What is a total rewards model?

PeopleKeep

If your small business struggles to attract and retain top talent, you might be tempted to offer a more competitive salary. While higher compensation can help, many factors influence whether a job candidate will apply to work at your organization or if a current employee will stay. A total rewards program can help your organization create employee loyalty, improve employee satisfaction, and boost employee engagement.

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Guide to pay transparency

PeopleKeep

Pay transparency is a popular topic for employers today. While it used to be considered taboo, many employers now see pay transparency as a way to achieve pay equity, build trust with employees, and attract talented candidates. With more states creating laws around pay transparency, employers need to know their obligations or risk potential legal recourse.

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Pay transparency laws support equity — but will they force employers to overextend their budgets?

Employee Benefit News

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2022 Personal Finance Year in Review

Money Talk

Last month, I presented my eighth annual (2022) Personal Finance Year in Review webinar for OneOp. Below are dozens of important events and trends from the past year: High Inflation- The consumer price index (CPI) started out the year at a 12-month percentage change of 7.5% in January 2022, reached a year-to-year high of 9.1% in June 2022, and stood at 7.1% in November.

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Want To Enhance Your Total Rewards To Achieve Organizational Success? Start Here.

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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Will automation and AI revolutionise the world of benefits in 2023?

Employee Benefits

Need to know: The use of artificial intelligence (AI) and automation in employee benefits is growing. This can help employees receive personalised recommendations. Employers can also benefit from greater insight around benefit schemes. Artificial intelligence (AI) and greater automation are infiltrating almost every area of business, and employee benefits is no exception.

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How Can Companies Prepare For Furlough, Layoffs or RIFs

HR Digest

Most companies prepare for a layoff either to cut costs in a way or to restructure the company. And this is a difficult process some organizations may have to face. However, if your organization ever reaches a stage to reduce staff it is important to figure out how to lay off employees in compliance with the law. That being said, below are some basic components to address when companies prepare for a layoff.

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Organizations Need to Have a Comprehensive Technology Strategy

HR Bartender

Estimated reading time: 3 minutes. As organizations are thinking about the economy and their plans to remain competitive in the market, it’s only logical that technology will enter the discussion. Technology has a lot of advantages. It can help organizations with routine tasks. It can provide data for planning and decision making. But technology is only as good as the systems we put into place.

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SECURE 2.0 Delivers New Rules for Correcting Retirement Plan Errors

Proskauer's Employee Benefits & Executive Compensa

As part of our ongoing series on SECURE 2.0 , this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments, (2) expansion of the Self-Correction Program under the IRS’s Employee Plans Compliance Resolution System (“EPCRS”) to cover most inadvertent errors, and (3) making permanent the current EPCRS safe harbor correction method for elective deferral failures related to automatic contribution arrangements.

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How to Build the Ideal HR Team

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.

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Stagecoach gives Sunderland drivers 11% pay rise

Employee Benefits

Bus drivers employed by Stagecoach in Sunderland have accepted an 11% pay rise and £150 bonus , backdated to 1 December 2022, ending their long-running strike. Three-quarters of the drivers, members of the trade union GMB, voted to accept the pay increase , which is more than the offer they received last year, of a 4% rise, followed by another 2% later in the year.

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Employers Covering Prescription Drugs for Weight Loss

International Foundation of Employee Benefit Plans

A healthy reset has been a standard theme entering the new year, but it shouldn’t be the only time of year workplace wellness gets prioritized. What an individual’s weight says. Read more > The post Employers Covering Prescription Drugs for Weight Loss appeared first on Word on Benefits.

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Employee complaints: What to address and what to ignore

Business Management Daily

Alice has no qualms about telling everybody in the office that she puts in way too many work hours. Dan and Rob are not the most vocal employees, but you did notice them huddled together whispering after a staff meeting and caught the phrase “stupid company policy” before they saw you rounding the corner. Rhonda rolls her eyes every time an assignment calls her to work with Andrew.

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IRS Permanently Extends Deadlines for ACA Reports to Individuals

Proskauer's Employee Benefits & Executive Compensa

On December 15, 2022, the Internal Revenue Service (“IRS”) published final regulations that make permanent certain relief and changes relating to the Affordable Care Act (“ACA”) reporting requirements. Specifically, the final regulations (1) include an automatic 30-day extension for providing Forms 1095-B and 1095-C to covered individuals and employees, which would otherwise be due on January 31; (2) allow an alternative method of furnishing the forms to certain individuals, and; (3) eliminate p

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An HR Leaders Guide: 7 Questions To Ask When Developing Your Cancer Strategy

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?

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Sian McKinley and Joshua Peters: The impact of the metaverse on employment law

Employee Benefits

Employment laws on harassment, discrimination and privacy of workers are well established online and in the office, but applying these rules in the metaverse raises novel risks and challenges. In the employment sphere, an evolution of existing legal principles is more likely than a complete overhaul. The nascent metaverse has already been plagued by allegations of e-groping and other inappropriate conduct.

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Just in the Nick of Time – Congress Grants Second Extension of CARES Act Telehealth/HSA Relief

Benefits Notes

Recently Congress passed the Consolidated Appropriations Act of 2023 (“2023 CAA”). Among other things, the 2023 CAA extends, for a second time, the telehealth relief provided under the CARES Act. The CARES Act permitted high deductible health plans (“HDHP”) to provide first-dollar telehealth services or other remote care services. This allowed individuals covered under a HDHP that waived the deductible for telehealth services or other remote care to maintain HSA eligibility.

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Can You Take Advantage of the WOTC?

Kollath CPA

As explained by the IRS , the work opportunity tax credit is equal to 40% of up to $6,000 wages paid or incurred, with a maximum credit of $2,400, for an employee who: Is in their first year of employment. Is certified as being a member of an eligible group. Works at least 400 hours of services for that employer. The agency emphasizes that this is a one-time credit for each new hire, and an employer cannot claim the credit for employees who are rehired.

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Best Employee Leave Management Software System for Your Small Business

Qandle

A leave management system (LMS) may relieve your HR staff or manager of a lot of administrative burden by automating the leave request, approval, and scheduling processes. The most effective system for handling leaves of absence will let you designate specific days off and holidays, as well as send out automated notifications to both supervisors and workers when requests are submitted and processed.

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6 Steps to a Better Compensation Strategy

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.

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Confessions of a benefits manager: Candid helps with inflation

Employee Benefits

We have just started the annual review process and the whole reward team has to get stuck in. Each of us has a part of the business to partner through the process. To me that means chivvying each management level along to complete their planning, so the next level up can start messing about and changing everything. To be honest, I am slightly resentful of having to do this on top of my usual benefits activity.

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How to deal with stress at work: Tips for maintaining your well-being

Business Management Daily

Workplace stress is at an all-time high, with 94% of workers reporting feeling stress on the job, and it causes a whopping 1 million Americans to miss work each day. Anyone with a job can likely attest to this, as it’s normal to experience stressful situations at work, even if you love what you do. Meeting stringent deadlines, dealing with difficult co-workers, long hours on the clock, and difficulty getting enough sleep are all common stressors to experience because of your job, regardless of y

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Utilizing Pre-Tax Benefits to Prioritize Health in 2023

Benefit Resource Inc.

It’s that time of year again! The new year is upon us, and with it comes hopes of achieving our goals for the upcoming months. Whether you’re looking to retire, advance your career, or prioritize your health, now is the perfect time to start planning your journey. If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond.

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What IS hybrid working?

Workplace Insight

In an uncharacteristically Waddellian moment*, the Word of the Year for 2022 according to The Economist was ‘hybrid work’. Yet despite its ubiquity, in the comparative calm of social channels over the holiday period lurked claims that no-one knows what hybrid working is. Even though millions of people are doing it. Given that such an assertion came as a surprise, there was only ever going to be one opening post for 2023: an attempt to explain it.

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The Definitive Guide to Onboarding for 2024

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.