Wed.Apr 24, 2024

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DOL Finalizes Salary Threshold for ‘White Collar’ Exemption

PayrollOrg

On April 23, the U.S. Department of Labor (DOL) announced a final rule to increase the minimum salary level for the Fair Labor Standards Act “white collar” exemptions.

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The pandemic may have changed our personalities, say researchers

Workplace Insight

While we often view personality as a fixed entity, a new study suggests the COVID-19 pandemic may have left a subtle but enduring mark on some aspects of our personalities. Published in Personality and Social Psychology Bulletin , the research suggests that while significant personality changes weren’t widespread, conscientiousness levels generally increased throughout the pandemic, while extraversion dipped slightly.

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Increasing minimum pension contributions to 12% could boost savings by £95,530

Employee Benefits

Increasing minimum pension contributions under auto-enrolment from 8% to 12% could result in additional contributions of £10 billion a year in the UK, according to research by Phoenix Group and WPI Economics. The long-term savings and retirement business and economic consultancy’s report Falling behind the curve, which models the cost to employees and the economy of delaying an increase in minimum auto-enrolment pension contributions , also found that for a typical 18-year-old, increasing minimu

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Guide to MEC plans

PeopleKeep

Some employers must provide a health insurance plan with minimum essential coverage (MEC) to avoid penalties under the Affordable Care Act (ACA) and ensure employees have access to essential healthcare services. In some cases, these employers may consider a type of group plan called a MEC plan. However, simply providing a no-frills MEC plan instead of a more comprehensive health benefit may not be enough to meet the needs of your employees.

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We’re Here to Help! How to Navigate Your Top HR Priorities

Are you helping your people proactively plan for retirement? How are you prioritizing the mental health of your HR team? These are a few of the questions that HR professionals are seeking answers to today. Luckily, Gallagher’s consultants came together with four robust articles (and one infographic) that help address these pain points and provide you with proactive planning tips to help you simplify, personalize and create flexibility in your benefits offerings to help ensure your people thrive

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Written warning template for employee discipline

Business Management Daily

Managers should strive to address performance issues early through coaching and verbal warnings. Hopefully, prompt conversations about underperformance or common issues like tardiness will be enough to nip the issue in the bud, but sometimes a more formal approach is needed. That’s where written warnings can help. If you have an employee who keeps violating company policies or has not heeded past warnings to improve their performance, it’s time to issue a written warning.

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How to get Gen Z and millennials excited about retirement planning

Employee Benefit News

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

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What Health Plan Sponsors Should Know About the Emerging Mental Health Needs of Youth

International Foundation of Employee Benefit Plans

If you or someone you know is struggling with mental health, dial or text 988 or visit 988lifeline.org for free and confidential support. Isolation caused by the COVID-19 pandemic, increasing academic and social pressures, and traumatic events are contributing to a growing […] The post What Health Plan Sponsors Should Know About the Emerging Mental Health Needs of Youth appeared first on Word on Benefits.

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Cancer care, all in one place: Quantum Health offers new oncology benefit

Employee Benefit News

By combining human touch and medical expertise in one place, patients diagnosed with cancer are provided with a holistic care team.

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Office rent, costs and utilisation rates rise as firms focus on prime space

Workplace Insight

Prime office rents in major cities around the world have risen 1.1 percent in the past year (Q1 2023 to Q1 2024) while tenants’ ‘all-in’ net effective costs (rent plus fit-out costs) have risen 2.4 percent, according to Savills , as the structural trend towards seeking high quality premium office space continues into 2024. The real estate advisor says that office utilisation (office occupancy) levels have continued to climb as many companies look to encourage employees’ return to the office by i

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4-Week Roadmap for New Hires

Nearly one-quarter of employees (23%) admit they’ve cried within the first week! Give new hires a positive start with this four-week onboarding roadmap. This schedule outlines all the turns, detours, and speedbumps new hires can expect in their first month. We’ve included suggestions for each week to help you make your new employees’ highway to success an easy road.

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15 best companies to work for in 2024

Employee Benefit News

Fortune and Great Place to Work analyzed 1.3 million survey responses, ranking the best companies in the U.S.

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What should employers look for in a default investment strategy?

Employee Benefits

Credit: Shutterstock/Olivier-Le-Moal Need to know: Lifestyling is the optimal solution for defined contribution default strategies. A big trend is to introduce investment in private equity into default funds for young members, to drive returns. The new reporting regime for pension schemes to disclose their investment allocations to UK markets is flawed.

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How to get Gen Z and millennials excited about retirement planning

Employee Benefit News

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

401(k) 79
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Working from home: how to look after your eyes

Workplace Insight

In an era where working from home has become the new norm, our eyes are more essential than ever for navigating the digital landscape that defines our daily lives. The rise of remote work has been rapid, with a significant portion of the American workforce transitioning to home-based employment post-pandemic. According to a recent survey, approximately 10 percent of the British workforce reported working remotely full-time, and 29 percent were working remotely part-time.

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Transform Employee Wellbeing and Control Costs Through Data-Driven Strategies

In today's dynamic business environment, HR leaders face immense pressure to optimize costs while maintaining a competitive edge to attract, retain and engage their workforce. Gallagher can help you meet that challenge head-on. Our proprietary data and people analytics platform, Gallagher Drive ® , provides the elevated insights you need to make impactful program decisions that are aligned with your organizational goals and set your strategy up for long-term success.

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FTC adopts a near-total ban on non-compete agreements

Employee Benefit News

The ban prohibits workers from switching jobs within an industry.

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US workers gain more freedom to change jobs as government bans noncompete agreements

Workplace Insight

The US Federal Trade Commission (FTC) has dealt a blow to restrictive employment practices by issuing a final rule that bans most noncompete agreements nationwide. This means millions of American workers will soon have more freedom to leave their current employers for jobs with competitors or even start their own businesses. The FTC estimates this change will have a significant positive impact on the economy.

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Nick Hurley and Annie Green: The impact of dropping the real living wage pledge

Employee Benefits

Earlier this year, Brewdog announced that due to trading losses and financial instability, it will drop its real living wage pledge from April onwards. While many employers will have suffered similar financial difficulties as a result of the cost-of-living crisis, the business’ decision to pull out of the real living wage scheme has been met with substantial backlash given its previous dedication to the cause.

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Don't let AI training go to waste: The right way to upskill your workforce

Employee Benefit News

An employee training expert explains what's missing from organizations' training structures and why it may cost them in the long run.

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How to Make The Best Benefits Decisions for 2025's Workforce: An HR and Total Rewards Guide

Speaker: Kaitlin Ruby Carroll

Retaining top talent in 2025 means rethinking benefits. In a competitive job market, fertility benefits are more than just offerings - they are a commitment to your team’s well-being. Gain critical insights into the latest fertility benefits strategies that can help position your organization as an industry leader. Our expert will explore the unique advantages and challenges of each model, share success stories from top organizations, and offer practical strategies to make benefits decisions tha

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BNP Paribas Real Estate reports 23% mean hourly ethnicity pay gap

Employee Benefits

Credit: JeanLucIchard / Shutterstock.com BNP Paribas Real Estate has reported a 23% mean hourly ethnicity pay gap for the 2022/2023 year, in its first combined gender and ethnicity pay gap report. The firm’s mean hourly pay rate for white employees was £30.08, while for other ethnic groups it was £23.18. Its median hourly ethnicity pay gap for 2023 was 13%, while its average hourly pay rate for white employees was £24.04 and for other ethnic groups £20.96.

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Why Your Firm May Need Professional Liability Coverage

InterWest Insurance Services

Many companies are leaving themselves exposed to lawsuits for errors and other issues that crop up in their work because they lack professional liability insurance. Traditionally it’s been architects, accountants and lawyers who would purchase this coverage, but with more work like coding, programing and other ventures spawned by technology, the need for this type of protection has grown.

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5 Things To Remember To Create a Culture of Belonging

15Five

There are endless challenges in making people feel like they belong. Organizational changes that rock the boat for the most vulnerable employees, broader market conditions that lead to tough decisions, and even just the introduction of a hybrid work policy can shake things up enough for some folks to feel like they’re being left behind. It might not be as simple as telling people they should bring their whole selves to work, but with some insight and a bit of elbow grease, you can create a cultu

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Chamber of Commerce sues to block FTC's non-compete ban

Employee Benefit News

The nation's largest business lobby argued that the FTC lacks the authority to issue rules that define unfair methods of competition.

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Reduce Bias in Hiring: Structured Interview Questions for Employers

Structured interview questions are a valuable tool for reducing bias in hiring. They help: Ensure all candidates are asked the same questions in the same way Level the playing field so all candidates have a fair chance of being successful Improve credibility, reliability, and validity Download the guide to get the most out of your interview questions!

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Fleet cards 101: What is a fleet card?

WEX Inc.

If you own a small business or help run a large business, it’s likely you’re expected to regularly make small decisions on the fly. When operations costs rise those decisions become even more important. If you have a crew out in the field who drive company vehicles – say you’re a plumber, an electrician, a moving company, a fuel delivery company, or an important player in the national supply chain, your management decisions can sometimes be even more impactful.

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How Good is Your Offboarding?

Enjoy Benefits

A few months ago we posted about the importance of a great onboarding process to get new employees off on the right foot. As much as new starters are part of company life, leavers are an inevitable feature too. It’s estimated that UK employees will work for six different companies on average during their careers. So offboarding is something that small- and medium-sized businesses will experience many times over.

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FTC Votes to Ban Most Noncompetes

BerniePortal

Do you use a noncompete agreement at your workplace? According to the Federal Trade Commission (FTC), around 30 million American workers are currently covered by a noncompete. A noncompete agreement is a contract that some organizations require employees to sign, preventing them from working for competitor companies during or after their employment.

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10 Podcasts To Help Your Business Flourish

Enjoy Benefits

Over recent years podcasts have become an invaluable resource for entrepreneurs and business professionals. To save you time scrolling through countless options, we’ve pulled together a list of some of the best in the UK for insightful discussions, expert advice and captivating stories. Whether you’re interested in behavioural science made simple, the remarkable stories of influential CEOs, or how creative people built success out of failure, these 10 great listens offer something for every busi

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The Diversity Reckoning: Can HR Survive Without New Perspectives?

Speaker: Jeremy York

2024 has tested every organization, and 2025 promises no less - the warning signs are everywhere. If you’re relying on superficial approaches to diversity, you might find yourself scrambling to catch up. Thought diversity - the fuel for new ideas, fresh perspectives, and disruptive innovation - is more than a buzzword. It's a survival strategy. And if you’re not building it into your workplace culture right now , you’re heading for trouble.