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2024 Employee benefits trends: Focus on employee wellbeing. The right benefits strategy is key to employee satisfaction. Here are the top 2024 employee benefits trends. Employee benefits are a driving force keeping your workforce satisfied. A study from the Society for HR Management found that the quality of employee benefits was likely linked to happiness at work.
The day after Thanksgiving, while many of us were fortunate enough to be reaching for leftover pie, the IRS released proposed regulations implementing the requirement that 401(k) plan sponsors permit “long-term part-time employees” to make elective contributions to a 401(k) plan. These proposed regulations arrive just one month before the statutory requirements are set to take effect in 2024—meaning that plan sponsors need to quickly get familiar with the proposed rules.
Navigating through the waters of health insurance coverage is tricky. You might be wondering, Do employers have to offer health insurance? Although the Affordable Care Act (ACA) requires employers with 50 or more full-time equivalent employees to provide health insurance, no employer has to offer excepted benefits. But, many employers do offer excepted benefits.
A healthy workforce is a prerequisite for sustained success in any industry, but the new normal has led to a wide range of challenges to employee wellbeing. The transition from traditional office setups to remote and hybrid work models has further blurred the lines between professional and personal life, made employees more susceptible to burnout, and increased team members’ sense of isolation.
Get ready for the future of business. As HR navigates an ongoing labor shortage, leaders need stronger, more adaptable recruiting strategies. Do you have the tools you need to build a talent pipeline that drives sustainable business growth?
This post continues our focus on comment letters submitted in response to proposed regulations under the Mental Health Parity and Addiction Equity Act (MHPAEA). The proposed regulations were issued earlier this year by the US Departments of Labor, Health and Human Services and the Treasury (the Departments). Our previous MHPAEA content is available here.
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Comp and Benefits Today brings together the best content for compensation and benefits professionals from the widest variety of industry thought leaders.
The Compliance Calendar for 2024 is now available on PayrollOrg’s website. It contains important payroll tax payment and reporting dates every payroll professional needs to know during the calendar year.
In the dynamic and fast-paced world of work, emotions play a crucial role in shaping individual and collective experiences. While positive emotions often contribute to a healthy work environment, the presence of negativity, especially in the form of grumpiness, can have far-reaching consequences. In this comprehensive exploration, we will delve into the meaning of grumpy staying in the work environment, identify signs of its presence, analyze potential causes, and discuss effective strategies fo
Every few months, I review my personal learning journal and summarize notes taken from various webinars. Below are 12 nuggets of information that I gleaned from 2023 webinars: Getting Going- Some people procrastinate on saving for financial goals because goals seem too big and intimidating. Flip this around, focus on small do-able steps, and start doing something. 529 Plan Myth - Some people think having a 529 plan lowers chances for college financial aid.
Estimated reading time: 4 minutes I mentioned a few months ago that I received a trial membership to MasterClass as part of changing my cellular phone plan. During the trial, I was able to listen to Neil Gaiman, Malala Yousafzai, Neil deGrasse Tyson, RuPaul, Bill Nye, and Dr. Terence Tao. And while I didn’t plan it this way, the last session I listened to about determining a personal brand really brought them all together.
As our workforce evolves, so must the way we support it. With more employees choosing to work beyond age 65, HR leaders are increasingly being called upon to guide aging employees through one of the most complex transitions in their professional lives - from employer sponsored plans to Group Medicare. Without clear guidance, confusion around eligibility, coverage options, and cost implications can lead to uncertainty and missed opportunities for optimized benefits.
Google is setting up to fire employees all over again, despite the 12,000 workers who were laid off this year already. The reason? According to LiveMint , a report first published in The Information indicates that Google’s AI-powered ads have grown so self-sufficient that they no longer require as many individuals to oversee its functioning, making Google lay off employees who no longer have a necessary role at the company.
Effective January 1, 2024, there is no California state disability insurance (SDI) taxable wage base limit, which means there is no cap on the amount of employee contributions for SDI.
Enterprise Performance Management (EPM) has become an integral part of modern business strategy, enabling organizations to plan, monitor, and optimize their performance. In 2024, the market is flooded with advanced EPM software solutions that offer a range of features to streamline financial processes, enhance decision-making, and drive overall business success.
ChatGPT is a powerful tool that can help you quickly brainstorm, draft, and refine tasks on your to-do list. But it can take a bit of strategy and practice to get generative AI to give you the time-saving results you’re looking for. Try these 14 detailed prompts to unlock the power of ChatGPT. You'll discover ways to streamline tasks for hiring, employee engagement, and performance management.
I recently attended the 2023 Association for Financial Counseling and Planning Education (AFCPE) Symposium along with over 600 financial educators, researchers, planners, counselors, and other practitioners. Below are six key take-aways: Climate and Finances - Financial impacts of climate change include the cost of property damage and infrastructure repairs (think floods, hurricanes, wildfires, and tornados), higher home energy spending (e.g., air conditioning due to more frequent heat waves), c
Estimated reading time: 4 minutes I learned a new term recently – p(doom). It stands for the “probability of doom” when it comes to artificial intelligence (AI) and a doomsday scenario. P(doom) is a scale that runs from 0 to 100. The higher you score yourself, the more convinced you are that AI is going to wipe out civilization. I first read about p(doom) in The New York Times newsletter DealBook where it reported that sharing your p(doom) score is becoming more mainstream and some people are ev
There’s nothing like having skin in the game to keep you focused, motivated, and engaged. Just ask any business owner. This logic extends to employees, as well. As an increasing number of companies are discovering, an employee ownership structure is a highly effective way to foster a culture of engagement and accountability. Including employees at […] The post The Outsized Impact of Employee Ownership on Company Culture appeared first on TalentCulture.
The benefits landscape is shifting rapidly, and AI is at the center of this transformation. From optimizing health and wellness programs to predicting future benefits needs, AI is empowering HR and total rewards leaders to make smarter, more proactive decisions. The challenge? Understanding where AI fits in your strategy and how to leverage it effectively while keeping employee well-being at the forefront.
In the fast-paced world of today, where technological advancements continue to reshape the way businesses operate, Human Resources (HR) departments are not immune to the transformative power of Artificial Intelligence (AI). The integration of AI in HR, often referred to as Gen-AI (Generation Artificial Intelligence), is proving to be a game-changer, particularly when it comes to enhancing employee engagement and productivity.
On December 12, I presented the ninth annual (2023) Personal Finance Year in Review webinar for OneOp , an online professional development resource for military family service providers. Below is a summary of ten key events and trends from the past year that were discussed: Inflation Rate- The year-to-year inflation measure, the consumer price index (CPI), was 6.4% in January 2023 and 3.2% in November.
Estimated reading time: 6 minutes (Editor’s Note: Today’s article is brought to you by our friends at UKG – Ultimate Kronos Group , a leading provider of HR, payroll, and workforce management solutions. The NelsonHall NEAT report recently named UKG a leader in the next generation HCM technology market. Congrats to them and enjoy the article!) Mark your calendars!
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
SAP SuccessFactors Employee Central Payroll Expands Globally Adding its 50th Country Calc Engine for Greece This year, I’ve dedicated more time to working closely with buyers and vendors from across the HR technology and services marketplace to understand regulatory trends and challenges and learn more about the modern solutions shaping how compliance is managed across the HR spectrum.
The chief well-being officer from EY and chief people officer from Headspace reveal what benefits will be vital to employee productivity and retention.
In today’s fast-paced and competitive business environment, companies are constantly striving to enhance productivity and employee engagement. However, one challenge that often goes unnoticed is presenteeism in the workplace. Unlike absenteeism, where employees are absent from work, presenteeism refers to the phenomenon of employees being physically present but not fully engaged or productive.
Managing benefits administration is costly, and cutting corners in the wrong places can lead to disengaged workforces and the risk of non-compliance. This eBook from Selerix highlights areas where you can save without compromising the value of benefits. Proactively Thinking: Make decisions for the long run. Discover ways to be proactive in your decision-making to save money in the future, not just temporarily.
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