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As of fall 2024, there are a few signs the country is slowly but surely emerging from a harrowing economic ordeal. Inflation has slowed somewhat, unemployment remains low, and indicators like GDP (gross domestic product) show surprising growth. But these are macro trends. What keeps your company’s employees awake late into the night and dominates their thoughts throughout the workday isn’t the state of the nation’s economy but their retirement savings, children’s college funds, credit card debt,
In today’s talent-driven market, attracting and retaining top performers requires a holistic approach to compensation. Beyond just base salary, employees value a comprehensive benefits package that contributes to their overall well-being. Total Compensation Reports (TCRs) offer a valuable tool for HR professionals to effectively communicate this value proposition.
For many companies, HR-related compliance is often viewed as a necessary but limiting function – a series of boxes to check, policies to follow and regulations to meet. But this perspective can lead businesses to miss out on the full potential of compliance as a strategic asset. The shift from sign-off to strategy By expanding your view of compliance beyond simply meeting legal obligations, it can be seen as a core pillar that supports broader business goals and contributes to a resilient, high-
Summer is a time for fun, relaxation, and sunshine—but it’s also an excellent opportunity for companies to show appreciation for their employees. As the weather warms up, team members may be more focused on vacation plans or outdoor activities, which can lead to a dip in engagement. That’s why implementing summer employee appreciation initiatives is crucial to keeping morale high and fostering a positive work environment.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
In recruitment, a retainer is a payment agreement between a company and a recruitment agency where the company pays an upfront fee to secure the agency’s services for filling a specific role. This model, known as retained recruitment, differs from the more common contingency recruitment, where payment is only made when a candidate is successfully placed.
Incentive theory offers valuable insights into what drives employee motivation in the workplace. It encourages people to strive for goals by offering rewards that feel meaningful and relevant. Whether it’s a financial perk, professional growth opportunity , or simple recognition, incentives help create a culture where employees feel valued and motivated to contribute their best.
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Incentive theory offers valuable insights into what drives employee motivation in the workplace. It encourages people to strive for goals by offering rewards that feel meaningful and relevant. Whether it’s a financial perk, professional growth opportunity , or simple recognition, incentives help create a culture where employees feel valued and motivated to contribute their best.
According to the U.S. Department of Labor, California, New York, and the U.S. Virgin Islands could not pay back their federal loans by the November 10, 2024, deadline and will lose the full Federal Unemployment Tax Act (FUTA) credit for 2024.
A positive work environment is key to the success of any business, and employee satisfaction plays a crucial role in maintaining that environment. In the automotive industry, this becomes even more important, as skilled employees like technicians and service advisors are vital to the smooth operation of the shop. One effective way to keep your staff motivated and engaged is by implementing an employee rewards program.
When it comes to 2025 employee benefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Shaped by changing work environments, economic pressures, and technological advancements, the following trends are emerging as essential components of a competitive benefits package. Personalized benefits packages Today’s employees want benefits unique to their circumstances and lifestyles.
What if your benefits strategy could be more than just inclusive—what if it could actually bring your team closer together? In today’s evolving workplace, employees span a wide range of life stages, work arrangements, and cultural perspectives. That’s why offering one-size-fits-all benefits just doesn’t cut it anymore. It’s time to reimagine how we support our teams.
International Foundation of Employee Benefit Plans
NOVEMBER 5, 2024
This election day, you might be heading to the polls or have voted already (I’m looking forward to getting fewer random texts and mailers, that’s for sure!). Regardless of the outcome, the next administration will likely impact many areas, including employee benefits. Here’s […] The post Your Election Watchlist for Benefits appeared first on Word on Benefits.
More and more businesses today find workforce management, labor productivity, and operational efficiency mandatory for sustaining a competitive advantage. At the same time, though, companies have to juggle the challenges of talent acquisition, compliance, employee engagement, and retention while staying agile and efficient. At their recent Connect customer and partner conference, I was fortunate to sit in on isolved’s showcasing of their new suite of solutions and services, including the People
As the workforce ages, retirement is becoming a more complex and emotionally significant transition. For many employees, retiring marks not only a change in benefits and income but also a shift in identity, community, and purpose. This webinar explores how HR professionals can support aging and retiring employees through a trauma-informed lens—one that recognizes the emotional and psychological dimensions of leaving the workforce.
A new wave of class-action lawsuits is targeting employers that apply health insurance premium surcharges to employees who use tobacco, accusing them of discrimination and violating the Employee Retirement Income Security Act (ERISA), according to two new blogs by prominent law firms. The lawsuits, according to a blog by Chicago-based Thompson Coburn LLP, assert that the surcharges are violations of fiduciary duty rules under ERISA, as well as discrimination regulations under the Health Insuranc
Are you investing energy, time, and resources into finding the right fuel card for your fleet of commercial vehicles? Do you have specific factors in mind? Likely you’re looking for a card that best fits your business’ needs. One consequential factor to keep in mind is fuel card rebates. We’ll help you better understand what rebates are and how to find a card that’s right for you, taking those rebates into account.
Just as the arrival of DEI policies took America by storm, the abrupt rollback of these policies is becoming equally widespread. Reports have revealed that Walmart’s DEI policies are being scaled back entirely, as the company is no longer planning to review its five-year commitment to its equity racial center, which was initially set up in 2020. Rampant DEI backlash in corporate America has dissuaded many businesses from maintaining these policies but Walmart’s scaling back of its diversity pol
Small employers are increasingly seeking innovative ways to provide their employees with health benefits amid rising health insurance costs. The qualified small employer health reimbursement arrangement (QSEHRA) is a popular solution. These employer-funded plans allow companies to reimburse employees for qualified medical expenses. They provide valuable flexibility and budget control.
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.
On November 15, a district court vacated and set aside the U.S. Department of Labor’s (DOL) final regulations to increase the minimum salary level for the “white collar” exemption.
Natural disasters, such as hurricanes and earthquakes, cause extensive property damage, physical injuries and loss of life. The distress might not end there, however. Mental health experts say that many victims of disasters experience post-traumatic stress disorder, depression and anxiety in the months following these events. The loss of loved ones, jobs, material goods and livelihoods are all traumatic experiences for victims, according to one Red Cross official.
Participating in a health savings account (HSA) or flexible spending account (FSA) is a great way to save money. Below, we’ve outlined the key differences of an HSA vs. FSA so you can see how they work, the advantages to each, and why you should participate in them. Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses.
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.
Employee engagement is increasingly recognized as a priority for companies. However, it is commonly associated only with qualitative or intangible outcomes. This perspective can overlook the full potential that employee engagement is capable of. To dispel the misconception around engagement being limited to intangible gains, companies must calculate the ROI of employee engagement.
Generative Artificial Intelligence has become an essential part of the workforce, many companies are introducing their own generative AI to support employees with their work. In 2025, AI will transform the global workforce, making employers need to create proper rules and regulations for using AI. Recently, ADP revealed key HR trends in 2025 essential for employee support and business growth.
As new generations of talent continue to introduce new ideas for what benefit packages should include, executives are looking to outside experts and internal staff feedback for where to improve.
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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