November, 2022

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Employee reward systems: A practical guide

Achievers

Every organization rewards its employees in some way, whether it’s simply through the salary and benefits they receive or the occasional awards ceremony celebrating an anniversary or other milestone. But a paycheck and a plaque aren’t enough to make workers feel valued. That requires incorporating rewards into every part of the employee experience, from business development to wellness initiatives.

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Retirement- Now What? Key Take-Aways from a Seminar for Older Adults

Money Talk

Being the author of a book about transitions in later life , I am always on the lookout for new information about this topic. I recently attended a face-to-face class called Retirement-Now What ? that focused on the same transitions I wrote about. The class started with two questions for each participant: are you retired? and are you happy? When it was my turn to respond, I reiterated a long-standing description of my current status: “No, I am not retired.

Finance 189
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6 types of employee rewards and how to use them

Achievers

What motivates you? Ask 100 employees, and you’ll get 100 unique answers. Maybe it’s the prospect of working on something they’re passionate about. It might be an organizational culture that makes them feel like they really belong. And some simply keep striving for a steady paycheck with the promise of raises, bonuses, and other financial incentives.

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Employee bleisure travel: Set guidelines for a win-win

Business Management Daily

Imagine you’re daydreaming about visiting China when out of the blue, your company asks if you’re available to make a business trip over there. Could it be? Your dream vacation, funded by your job? You excitedly tell them yes as your mind starts racing thinking about what you’ll do over there, but then they interrupt you to mention there’s a catch: the trip starts Monday and ends Thursday, after which point you’ll need to fly back home so you can rest up for the coming week.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

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.

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How to engage staff with a total reward offering

Employee Benefits

To engage employees with a reward package , it needs to be clearly communicated, easy to understand and impactful in order to show its true value. The increasing use of personal devices to access benefits means that digital methods are often more effective. Factoring reward package reviews into formal milestones, such as six-month reviews or probation periods, can improve engagement and employees’ awareness of what is on offer.

Finance 111

More Trending

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3 ways HR leaders can get ahead of a recession

Achievers

Three-quarters of HR leaders are worried about the coming recession , according to the latest research from the Achievers Workforce Institute. Attracting, engaging, and retaining the right employees will increase the likelihood of success. Preparing for this looming recession requires that HR leaders invest in their people more than ever. By building an HR strategy that centers on employee engagement, organizations will be well set up to survive and thrive through the challenges ahead.

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Financial Planning During Uncertain Times

Money Talk

There is no question that we are living in very uncertain times (e.g., inflation, stock market volatility) and few things make people more uneasy than uncertainty about the future. What to do? Below are eight suggested strategies to deal with uncertainty: Check Emotional Reactive Responses - People often make poor decisions when they are emotionally stressed.

Finance 273
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Which Caregiving Benefits Do Modern Employers Provide?

TalentCulture - Employee Benefits

What benefits are top-of-mind for organizations that want to attract and retain great talent in today’s challenging talent market? Many are finding it pays to step outside the standard benefits box with creative options that meet diverse employee needs. For example, caregiving benefits are gaining strong momentum. To learn more about this, we asked business […].

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3 Ways to Recession-Proof Your Benefits Program

Best Money Moves

3 ways to recession-proof your benefits program. How can your workforce prepare as a recession looms on the horizon? Here are 3 ways to recession-proof your benefits program. . With a potential recession on the horizon, employers must focus on the financial wellbeing of their employees. Thirty-one percent of Americans are unprepared for an economic downturn, according to a report by Bankrate.

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Where You Can and Absolutely Cannot Cut Costs Corners in Benefits Administration

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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Employee Benefits free webinar: How important is women’s health at work?

Employee Benefits

A free webinar hosted by Employee Benefits, titled How important is women’s health at work? in association with Peppy, will be broadcast live at 11am on Wednesday 7 December 2022. Employee Benefits’ editor Debbie Lovewell-Tuck will be joined by Sam Blevins, health and wellbeing development manager at John Lewis Partnership, Debra Gardner, head of HR and ESG at LSL Property Services, Francesca Steyn, director of fertility and women’s health at Peppy, and Ellie Vaughan, head of reward and benefits

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Why Microsoft is on a mission to lower the unemployment rate for neurodiverse talent

Employee Benefit News

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Employee personnel files — what should and shouldn’t be included

Business Management Daily

As any human resources professional will attest, managing every employee’s employment life cycle involves a good deal of paperwork. Knowing what to keep and the location of each document is vital to easy retrieval and to maintaining compliance with government and industry regulations. Setting up employee personnel files is an important part of the recordkeeping process.

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My Ten Key Take-Aways From the 2022 AFCPE Symposium

Money Talk

Attendees at the same professional conference have different take aways depending on their lifestyle, job responsibilities, subject matter knowledge/skill set, and other personal characteristics. We all filter new information through these lenses. When information comes at a “teachable moment,” interest in, and attention to, a presentation dramatically increases.

Finance 189
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HR’s Blueprint for a Successful 2025

The HR industry is changing. Did you know… 1. There will be 4M more jobs than workers by 2033 ( BLS ). 2. For 84% of workers, flexibility is a top priority ( FlexJobs ). 3. 75% of employees have used AI at work ( CFO.com ). It’s time to meet the moment! Use Paycor’s guide to design a blueprint for success.

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Is your employee quiet quitting? Here’s your action plan

Insperity

Quiet quitting is the popular new Great Resignation -era term for an employee who hasn’t quit (yet), but definitely exists on a spectrum of disengagement. As employees become increasingly fed up with some aspect of their job or company, they may withdraw from others and withhold discretionary effort, instead just doing the bare minimum to get by without attracting too much negative attention.

PTO 116
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Why Is Work Satisfaction Important in Every Workplace

HR Digest

Research shows that if employees are happy at work, they’ll be more productive, more creative, and more likely to stay with their company for the long term. That’s because happiness at work is linked with job satisfaction, which leads to higher performance for both employees and employers alike. It’s a common fact that employee satisfaction at work is linked to business success.

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Financial Wellness Platforms: How To Launch the Best One for Your Employees

Best Money Moves

Financial Wellness Platforms: How to launch the best one for your employees. Financial wellness platforms can help support employees through tough times. Here’s how to launch the best one for your team. . Employees are feeling the heat. According to John Hancock’s 2022 study of stress , 89% of employees said it was important that employers provided a financial wellness program and 74% said a financial wellness program would help reduce their stress. .

Finance 115
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Cancer will be the top driver of healthcare costs in 2023: What employers should know

Employee Benefit News

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7 HR Priorities for 2025 to Supercharge Your Employee Experience

Speaker: Carolyn Clark and Miriam Connaughton

Forget predictions, let’s focus on priorities for the year and explore how to supercharge your employee experience. Join Miriam Connaughton and Carolyn Clark as they discuss key HR trends for 2025—and how to turn them into actionable strategies for your organization. In this dynamic webinar, our esteemed speakers will share expert insights and practical tips to help your employee experience adapt and thrive.

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75% of HR professionals see mental wellbeing as key focus for 2023

Employee Benefits

The majority (75%) of HR professionals stated that mental health and wellbeing would be the most important area in which to provide support to staff in 2023, according to research by WorkNest. The research, conducted at the Chartered Institute of Personnel and Development (CIPD) annual conference in November, surveyed 105 respondents who cited the cost-of-living crisis (70%) and retention of staff (69%) as the biggest challenges for 2023.

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Roth IRA Q&A

Money Talk

Roth IRAs are a popular investment for retirement savings. They are available to workers with earned income (i.e., salary, bonuses, or self-employment) under phaseout limits that are adjusted annually for inflation. Below are answers to nine commonly asked questions about Roth IRAs: What is a Roth IRA? A Roth IRA is a personal retirement account that lets people benefit from tax-free interest growth, providing they meet certain conditions.

Taxes 188
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ERISA Fee Complaint Dismissed in Pennsylvania District Court, Extending Favorable Trend

Proskauer's Employee Benefits & Executive Compensa

In Krutchen v. Ricoh USA , No. 22-cv-678, 2022 U.S. Dist. LEXIS 206792 (E.D. Pa. Nov. 15, 2022), a Pennsylvania district court dismissed an ERISA excessive fee complaint for failing to provide enough information about alleged comparator plans that allegedly paid less for recordkeeping services. The decision is notable for delivering defendants a victory in the Third Circuit, which previously allowed excessive recordkeeping claims to survive dismissal in Sweda v.

401(k) 110
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How to Build Right Workplace Culture for Remote Employees

HR Digest

What makes a great virtual team? If you’re asking that, chances are you’re not getting the answer you want. Building the right workplace culture for remote employees can be a challenge. A lot of people think the secret to building a great remote team is to put people together and hope for the best. It’s true that some teams do better than others, but it’s not always clear why.

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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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3 Ways to Support Divorced Employees at Work

Best Money Moves

3 Ways to support divorced employees at work. Divorce is a common but often overlooked strain on your workforce. Here are 3 ways to support the divorced employees on your team. . The saying that, “half of all marriages end in divorce,” still holds true, according to data from the CDC. But despite the number of divorced employees in the workforce, employers are often unaware of how badly divorce can affect productivity and employee wellness.

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Is speech therapy the key to treating long COVID?

Employee Benefit News

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World Cup fever: 47% intend to phone in sick for football

Employee Benefits

Something for the weekend: Almost half (47%) of England and Wales supporters intend to pull a sicky to watch their nation play at this year’s football World Cup. Bookmaker Paddy Power partnered with Research Without Barriers to survey 2,002 football fans from England and Wales. The research found that 46% admitted they plan to skive off work at some point during the tournament, due to three of the daily kick-off times clashing with the nine to five working day.

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Auto Insurance: Strategies to Save

Money Talk

One of the largest items in household budgets is car insurance. According to Bankrate, the average annual cost of car insurance in June 2022 was $1,771 per year ($148 per month) for full coverage and $545 for just the minimum coverage required by state law. Of course, individual insurance premiums vary widely according to multiple factors (e.g., driver characteristics, type of vehicle, location of vehicle, and the current economic climate for labor and parts costs).

Insurance 183
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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.