Thu.Nov 30, 2023

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Compliance TV: IRS Announces 2024 COLAs; Two States, Virgin Islands Subject to FUTA Credit Reduction for 2023; and more

PayrollOrg

In this December 2023 edition of Compliance TV: IRS Announces 2024 COLAs for Transportation Fringes, FSA Deferrals, Foreign Earned Income Exclusion, and More; Two States, Virgin Islands Subject to FUTA Credit Reduction for 2023; SSA Offers Tips to Employers Before Filing Season Begins; IRS Provides More Information on ERC Withdrawal Process.

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Millennials are on track for better retirement than boomers, Vanguard study finds

Employee Benefit News

Baby boomers may be wealthier, but millennials have benefited from a number of retirement reforms, new research shows — and they still have more time to save.

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Unhappy staff take nine more sickness days on average per year

Employee Benefits

Unhappy employees take nine more sickness days on average per year as opposed to their happier counterparts, according to new research by WPI Economics. Commissioned by employee benefits provider Unum UK, the survey of more than 4,000 UK employees revealed that this is costing the economy £11 billion per year through lost productivity, and that the average unhappy, unproductive worker loses nine hours of productive time per week.

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Second Circuit Establishes Practical Pleading Requirement for Prohibited Transaction Claims Under ERISA Section 406(a)(1)(C)

Proskauer's Employee Benefits & Executive Compensa

The Second Circuit recently held that in order to state a claim for a prohibited transaction pursuant to ERISA section 406(a)(1)(C), it is not enough to allege that a fiduciary caused the plan to compensate a service provider for its services. Instead, “the complaint must plausibly allege that the services were unnecessary or involved unreasonable compensation.

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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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Confessions of a benefits manager: Candid experiences a different office

Employee Benefits

Why is it always me that gets seconded to work on mergers and acquisitions? What makes it worse this time, is they have sent me to Coventry. Literally. I have to work there three days a week to help with preparing for the sale. It is ridiculous because the data ‘room’ is virtual anyway, but all the key Higher Beings involved in the project work out of that office and someone has decided I should be there too.

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Small businesses are outhiring large employers — but can they afford to retain them?

Employee Benefit News

Tina Wang, VP of HR at ADP, breaks down how small businesses can retain new talent despite their financial limitations.

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Career Path: What Is It? Definition & 12 Steps to Pave Yours (+Examples)

BetterUp

What is a career path? It's a long-term plan that includes specific jobs that lead to desirable occupation. Discover types of career paths with examples.

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Gen Z wants careers, not degrees. This nonprofit is helping them bypass college

Employee Benefit News

The CEO of Good Jobs KC explains how he's creating work pathways for young people, and why it's critical to understanding the needs of Gen Z.

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The Code in the News Again

Florida Workers' Comp

Judicial ethics has been in the news recently. From Washington DC to Pennsylvania, to the Florida Panhandle. Each story brings thoughts and perspective. Anyone on the bench or working before the bench could validly invest in these stories. In Washington DC, the Supreme Court of the United States (SCOTUS) adopted a code of ethics. Criticism came from various quarters.

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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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What health plans are and aren’t covered by ERISA

PeopleKeep

If you offer employee benefits to workers in the United States, there’s a very good chance they fall under the regulations of the federal Employee Retirement Income Security Act of 1974 (ERISA) 1. Congress enacted ERISA to protect the interests of employees who participate in your benefit plans. It set minimum standards and created documentation requirements to ensure employees receive the benefits they’re entitled to.

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What the OpenAI saga says about employee power in the workplace

Employee Benefit News

Experts in tech and HR share their insight on what happened at the leading AI company — and how organizations across every industry can avoid it.

IT 100
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American Workers Are Burned Out; Employers Can Help

InterWest Insurance Services

American employers are trying to meet their workers’ mental health needs as they struggle with burnout and stress from their jobs and finances, according to a new report. The annual “ Aflac WorkForces Report ” found that more than 50% of American workers experience burnout in their workplace. Additionally, 57% experience work-related stress, with heavy workloads the biggest stressor among young workers.

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Offboarding Process: Definition & A Comprehensive Guide to Employee Departures 2023 Guide

Qandle

Offboarding is a crucial aspect of the employee lifecycle that often receives less attention than onboarding. However, a well-structured offboarding process is equally essential for maintaining positive employer-employee relationships, preserving institutional knowledge, and ensuring a smooth transition. In this blog, we’ll delve into the key components of an effective offboarding process, exploring its significance, best practices, and potential challenges.

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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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Legal & Legislative Reporter: Court Allows a Life Insurance Conversion Dispute to Move Forward

International Foundation of Employee Benefit Plans

Every month, the International Foundation releases the Legal and Legislative Reporter, a compilation of new employee benefits-related case summaries. Below is a summary we thought you’d be interested in. Content provided by Morgan, Lewis & Bockius LLP. The U.S. District Court for the […] The post Legal & Legislative Reporter: Court Allows a Life Insurance Conversion Dispute to Move Forward appeared first on Word on Benefits.

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Cigna Medicare Advantage sale intensifies, teeing up Humana deal

Employee Benefit News

A sale would remove one obstacle to a tie-up between Cigna and Humana, a combination sure to face antitrust scrutiny.

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Vocational Skills: What Are They? Definition & Examples

BetterUp

Jump to section What are vocational skills? What’s a vocational skill everyone needs to learn?

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Strategic HR planning for 2024: Trading severance packages for supplemental unemployment benefits

Employee Benefit News

The shift to a SUB plan maximizes benefits while minimizing costs.

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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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Generative AI will hollow out many middle class roles over the next decade

Workplace Insight

Generative AI will have a much greater impact on white collar roles than blue collar ones over the next 10 years, according to a new report from Pearson. In at least ten white collar roles, more than 35 percent of tasks could be done by AI, with medical secretaries (41 percent) predicted to be the most impacted. Conversely, every of one of the top 10 least impacted are classed as blue collar, revealing launderers, dry cleaners and pressers (0 percent) as the UK’s most AI-proof job.

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Dodd-Frank Clawback Policy: Additional Action Required for NYSE-Listed Companies by December 31, 2023

Proskauer's Employee Benefits & Executive Compensa

Public companies nationwide have spent their summer and fall compensation seasons finalizing compensation clawback policies ahead of the December 1, 2023 deadlines set by the New York Stock Exchange (the “NYSE”) and the Nasdaq Global Market (“Nasdaq”), as applicable, as mandated by Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”).

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Industry: the art of working from anywhere

Workplace Insight

Walking into Bristol-based artist Gail Reid’s studio, I literally stopped in my tracks! There it was a painting of everything I had been researching and writing about with workplace strategist Chris Kane for our book “Where Is My Office?” both pre-and post-pandemic. Gail, was a Semi-Finalist in this year’s Sky Art’s Portrait Artist Of The Year – alas she didn’t make the final – although she impressed everyone with her talent and charisma.

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Black, African, Caribbean or Black British staff earned less than White employees in 2022

Employee Benefits

Black, African, Caribbean or Black British UK employees earned less than White employees in 2022, with medians of £13.53 and £14.35 per hour respectively, according to new research by the Office for National Statistics (ONS). After using personal and work characteristics to provide an adjusted pay gap based on a like-for-like comparison, the findings highlighted that UK-born White employees earned more on average than most ethnic minority employees.

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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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Overtime Calculation in UAE

Bayzat

The payroll function of any company is crucial, and the calculation of overtime pay before processing employee payments is an essential aspect of it. In the United Arab Emirates (UAE), there are specific laws and regulations that govern how employers should handle overtime pay for their employees. However, this process can often be confusing and complicated for employers to follow.

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SSP Group hires Ann-Marie Murphy as chief people officer

Employee Benefits

Multinational contract foodservice firm SSP Group has appointed Ann-Marie Murphy as its new chief people officer. Murphy will take up the role early next year. She will join from The Gym Group, where she has worked since 2018, initially in the role of director of people and development, later as chief people officer, where she set up its people function, designing and delivering strategies for talent, learning and development, performance, inclusion , and reward, and finally as chief operations

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The Ultimate Guide to OKR Software

Darwinbox

Are you struggling to keep track of your business goals and ensure alignment across teams? Look no further than OKR (objectives and key results) software. In this ultimate guide, we will explore what OKR software is, how it helps businesses align their goals and track progress, the key features it offers, the benefits of using it, how to choose the right software for your organization, and tips for successful implementation.

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Buyer’s guide to home technology schemes

Employee Benefits

What are home technology schemes ? A home technology scheme allows employees to purchase a new piece of technology and spread the cost through monthly payments. Employees are able to purchase things like smartphones, tables, televisions, smart watches and fitness trackers, as well as large and small domestic appliances. Employees are able to purchase products from popular brands, such as Apple, Nintendo and Samsung.

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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.