Thu.Feb 01, 2024

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Middle-Income Earners Can Be Millionaires

Money Talk

Many people think you need to earn a high salary (e.g., $100,000+) to become a millionaire. In reality, many people of ordinary means (i.e., middle-income earners like teachers and police) become wealthy over time and achieve a net worth (assets minus debts) of $1million or more. A key factor in their success is financial capability, which includes financial knowledge, decision-making skills, and habits.

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Compliance TV: DOL Issues Final FLSA Worker Classification Rule; DOL, IRS Issue Guidance on New Emergency Savings Accounts; and more

PayrollOrg

In this February 2024 edition of Compliance TV: DOL issues final FLSA Worker Classification Rule; DOL, IRS issue guidance on new Emergency Savings Accounts; and more.

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The MHPAEA Proposed Rule: Standards of Care and Medical Necessity

McDermott Will & Emery Employee Benefits

Comments submitted in response to the proposed regulations under the Mental Health Parity and Addiction Equity Act (MHPAEA) reflect a broad range of perspectives. Our previous MHPAEA content is available here. A nontrivial subset of the comments single out a particular nonqualified treatment limitation (NQTL) for special treatment or scrutiny. An example of this trend is […] The post The MHPAEA Proposed Rule: Standards of Care and Medical Necessity appeared first on EMPLOYEE BENEFITS BLOG.

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DOL Announces Final Ruling on Classifying Independent Contractors

BerniePortal

The FLSA 2021 IC rule defined “employer” and “employee”, but failed to provide clear definitions of independent contractors and employer-employee relationships. In Rutherford Food Corp v. McComb , the Supreme Court recognized that “there is in the [FLSA] no definition that solves problems as to the limits of the employer-employee relationship under the Act.

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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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How to Lead and Engage a Multigenerational Workforce

15Five

Every workforce is multigenerational. But your employment engagement strategy probably isn’t built with that in mind. You’re probably thinking of people by their job titles and skills — not their generational cohort. That’s not a bad thing, necessarily, but it can lead to one of two problems. Your engagement strategy might be outdated, only engaging older generations, or chase trends favored by younger generations.

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Creating a Heart-Healthy Culture for Yourself and Your Workforce

International Foundation of Employee Benefit Plans

Do you know the leading cause of death in the United States? If you said heart disease, you’d be correct. Heart disease has been the #1 cause of death in the U.S. for over a century, and nearly half of all people […] The post Creating a Heart-Healthy Culture for Yourself and Your Workforce appeared first on Word on Benefits.

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20% of women die from heart disease. Employer benefits and intervention can lead to change

Employee Benefit News

Focusing on preventive care like proper nutrition, exercise and sleep habits is an actionable way for employers to address women's health.

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New Rule Aims to Expedite Prior Authorization Requests

InterWest Insurance Services

The Centers for Medicare and Medicaid Services has published a final rule aimed at improving how prior authorizations are handled by health insurers. The measure primarily limits the time insurers have to approve or deny requests. In addressing wait times for prior approvals, the CMS is targeting an issue that’s become a problem for some patients whose health can deteriorate while waiting for their doctor’s request for service to be approved.

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Better together: How a legal plan complements long-term care

Employee Benefit News

As more employees become caregivers, access to the right kind of employer support is crucial.

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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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Equity and ITC agree to pay and financial improvements

Employee Benefits

Credit: Brian Slater Trade union Equity and independent performing arts management association Independent Theatre Council (ITC) have agreed to a pay rise and improved financial provisions as part of a new three-year agreement. The Ethical Manager Agreement 2024-2027, which applies to performers, stage management and choreographers in the independent performing arts sector, will see the minimum weekly and daily rate rise by 5% every year during the agreement’s length.

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Black women own two-thirds of BIPOC small businesses. What they're teaching a new generation of employees

Employee Benefit News

A recent study shed some light on how business owners from underserved communities are improving diversity efforts across the board.

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Underutilised office space? I just can’t be bothered with it

Workplace Insight

A while ago, Antony Slumbers asked me why I thought firms had never done anything much about the underutilisation of their offices. This was in the first throes of lockdown-driven remote work hysteria, prompted by one of those headlines about how offices being half empty was some signifier of hatred for them. This ignored the fact office had been half empty, or perhaps more accurately over a third empty, for at least the previous thirty years.

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Types of Compensation: Everything HR Needs to Know

HR Lineup

In the dynamic landscape of human resources, managing compensation is a crucial aspect that directly impacts an organization’s ability to attract, retain, and motivate employees. Compensation goes beyond just the salary paid to employees and includes various elements designed to reward and recognize their contributions. In this comprehensive guide, we will delve into the intricate world of compensation, exploring both direct and indirect compensation and categorizing the various components

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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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Biden's new worker classification rule is tightening the definition of independent contractors

Employee Benefit News

Lina Bond Edwards, partner at RumbergerKirk, breaks down the Biden administration's revised worker classification rule.

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A million women in the UK routinely hide period sick days from employers

Workplace Insight

More than a million women mask period sick days each year because they feel unable to tell their boss the true reason for their absence. The latest research revealed in the Bupa Wellbeing Index , shows that one in eight (13 percent) women have taken time off work in the last 12 months due to symptoms linked to periods, with a third (35 percent) gave a different reason when requesting the time away.

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Plan now for the year ahead: 9 trends that will shape HR in 2024

Business Management Daily

In today’s business environment, HR leaders must strategically position their organizations to attract and retain top talent while achieving operational goals. The Gartner business advisory firm says these are the most significant trends HR professionals must be prepared to embrace this year. 1. Helping cover the costs of returning to the office Employees who once worked remotely are acutely aware of the costs associated with going to the office.

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Three quarters of organisations never or rarely check on employee morale

Workplace Insight

Organisations cannot afford to neglect or pay lip service to employee morale if they want to retain talent, according to new research from MHR [registration]. In its latest Employee Experience report – which identifies employee wellbeing as a huge component of morale – MHR reveals that 75 percent of organisations fail to regularly check in on employee needs and attitudes, for example through satisfaction surveys.

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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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Mother recruits first chief people officer

Employee Benefits

Global advertising agency Mother has named Alex Morris-Platt as its first chief people officer as part of its goal of being considered one of the best places in the world to work. In the newly created role, Morris-Platt will lead the people and talent teams to deliver innovative and responsive programmes, with the overall aim to attract, grow and retain the world’s best creative talent.

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Cost of living pressures hurting productivity and wellbeing

Workplace Insight

New research investigating how cost of living pressures are impacting the workforce has found that three quarters (74 percent) of HR leaders fear the cost of living crisis is affecting employee performance. In the survey of 500 UK HR Directors, carried out by Nous.co , a third (34 percent) of HR leaders said they’d noticed a drop in productivity due to employees having other things on their minds.

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Wickes publishes first ethnicity pay gap report

Employee Benefits

Credit: eyematter / Shutterstock.com Retailer Wickes has published its first ethnicity pay gap report, with its mean ethnicity pay gap for 2023 standing at 0.04%. Its median ethnicity pay gap was -0.74%, while its mean ethnicity bonus pay gap was 13.9% and its median was 27%. A total of 96% of white employees and 95% of ethnic minorities received a bonus in 2023.

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Employed but unhappy: What's in store for US workers in 2024

Employee Benefit News

Workers are seeing a gap between job market projections and the reality of finding a good, stable position.

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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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Many people continue to put a brave face on mental health

Workplace Insight

Seven in ten employees (67 percent full time and 69 percent part time) say that they feel the need to put a brave face on things when asked about their mental health. Half (47 percent full time and 54 percent part time) report that the reason is because bigger things are going on in the world right now and they don’t wish to be a burden, whilst a quarter of full time employees (27 percent) and a third of part time employees (35 percent) don’t believe that people really want to know how the

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Confessions of a benefits manager: Candid works on a new recognition platform

Employee Benefits

Does recognition fall under compensation or benefits? In my organisation, it sits in compensation, so I thought I was safe from getting involved in the new platform. I have been watching with interest as communications go out promising a new, exciting platform in a matter of weeks. I should have known something was up when Big Bad Boss puts in a random meeting without any subject.

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New RIBA guidance sets out to demystify smart building technology 

Workplace Insight

The Royal Institute of British Architects (RIBA) has published its Smart Building Overlay to the RIBA Plan of Work. Developed with ScanTech Digital , Glider Technology , Kier and Hoare Lea , RIBA says this free resource will support anyone involved in the design of newbuild, retrofit or refurbishment projects to implement smart building technology. The Smart Building Overlay introduces smart building terminology and outlines the benefits of embedding smart building technology from the outset.

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2023 Distinguished Employee – Amy Craig

InterWest Insurance Services

Announcing 2023 InterWest Insurance Services Distinguished Employee Winner! Amy Craig Administration, Facilities Supervisor Roseville, California Each year, InterWest recognizes employees who are identified by their co-workers as having demonstrated an extraordinary commitment to their clients, workmates as well as their community.

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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.