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Changes to the workforce extend beyond just the influx of new talent but also into what benefits employees value most, forcing employers to continually adapt.
Employee onboarding is where first impressions are made, and the foundation for success is built. But its not just about handing over a welcome packet and introducing a few team members. A truly great onboarding experience does much more than simply welcome new hires it gives them the tools, confidence, and sense of belonging they need to truly thrive.
In the recruitment industry, firms use different pricing models to charge their clients for services. One of the most common structures is the retainer fee model, which offers many advantages for both clients and recruiters. Understanding how retainer fee structures work, their benefits, and best practices can significantly enhance the recruitment process for companies looking to hire top talent.
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.
Did you know that for entry-level positions, turnover costs range from 30% to 50% of the employees annual salary ? Or that for mid-level roles, its 125% to 150%, and for high-level or specialized positions, the cost soars to an eye-popping 400%? Beyond the financial hit, high attrition drains morale, disrupts workflows, and impacts overall productivity.
The IRS announced that the 2025 standard mileage rate will increase by 3 cents to 70 cents per mile.
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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.
As 2024 winds down next week, its time for my final quarterly summary of take-aways from recent personal finance classes, conferences, and webinars that I attended. Below are some nuggets that you might find useful in your personal financial planning: Offense and Defense- Financial offense involves earning money from one or more sources (e.g., paycheck, interest).
Whether your HR team is aiming for higher HDHP enrollment, greater wellness program utilization, or improved benefits literacy, achieving your goals in 2025 will invariably depend on your company’s employees learning something and, crucially, retaining that knowledge throughout the year. But 2025 promises to be another hectic year for your employees, at work and home, with no let up to the constant bombardment of messaging and demands.
Executive search is a critical function in organizations, identifying and recruiting top-tier talent for senior leadership roles. With the rapid advancement of Artificial Intelligence (AI), this field is poised for transformative change. From improving candidate sourcing to enhancing decision-making, AI is reshaping the way executive search firms and organizations operate.
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.
How can hearing from all angles supercharge your recognition and rewards efforts? The answer lies in 360-degree feedback a powerful tool that gathers insights from an employees peers, managers, and direct reports to create a well-rounded view of performance. This comprehensive feedback model is fast becoming a cornerstone of modern employee engagement strategies.
Effective January 1, 2025, the Indiana Department of Revenue revised Departmental Notice No. 1 to reflect that six counties have income tax rate increases.
The transition from paper check processing to virtual card payments can be daunting. This is why we’ve created a five-step guide to making the transition as efficient and seamless as possible. The value of running a supplier analysis before virtual card adoption The first thing we do with customers when they’re considering moving away from paper checks to a virtual card payments technology is to analyze the suppliers with whom they are currently doing business.
Kickstarting a new pilot program at select locations, Walmart employees are now testing body cameras as a new security measure against rising threats faced in-store. Walmart isnt the first retailer to begin testing body cameras as a safeguard against theft and violence, but it is one of the largest in the country to do so. Shoppers have grown more brazen with their attitude against store employees and with the holiday season here, tempers are even higher.
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.
Recruiting for high-net-worth individuals (HNWIs) is a unique niche in the recruitment industry. It involves sourcing and hiring professionals for private households, businesses, or personal projects of affluent individuals. While this niche presents lucrative opportunities for recruiters, it also comes with its own set of challenges. In this article, well explore the benefits and challenges of recruiting for HNWIs, providing insights for recruiters navigating this specialized market.
New guidance issued by the IRS expands the types of preventive care benefits that high-deductible health plans are required to cover with no out-of-pocket costs on the part of plan enrollees. The changes are aimed at reducing out-of-pocket costs for diabetes-related expenses, certain cancer screenings and contraceptives. The guidance, released in two notices — N-2024-71 and N-2024-75 , — can result in real savings for Americans.
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.
The recruitment industry is constantly evolving, with new tools, techniques, and trends reshaping the way recruiters find and place talent. However, this dynamic environment also brings about several challenges that recruiters must tackle to succeed. From adapting to changing technology to managing candidate expectations, the challenges in the recruitment industry are diverse and complex.
With Netflixs parental leave policy on shaky grounds , Starbucks parental leave policy is now offering to provide industry-defining benefits to employees by doubling the leave allowance currently available to workers. On a mission to make Starbucks the Best Job in Retail, the company has decided to expand its leave policy after employees indicated that its current 6-week program was insufficient for them.
Recruitment can be an expensive and time-consuming process, especially for businesses seeking top-tier talent in competitive markets. Traditional recruitment models, often based on a percentage of the new hires salary, can significantly inflate hiring costs. As companies increasingly look for more economical alternatives, flat fee structure recruitment has emerged as a compelling solution.
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.
Medical flexible spending accounts (medical FSAs) are use-or-lose accounts. There are limits as to whether (or how much of) your employees’ FSA funds can be carried over into the next plan year. How well do your employees understand their FSA’s plan rules? If they don’t, they could risk forfeiting funds to the plan. And any forfeiture of funds would create a negative experience for them that may discourage future FSA participation, hurting their ability — and your ability — to save money.
Effective January 1, 2025, employers in Delaware and Maine must begin making contributions to state paid family and medical leave programs. Employers in Maryland will have new contributions due in July.
International Foundation of Employee Benefit Plans
DECEMBER 27, 2024
Its become easier for plan participants to take distributions from their defined contribution (DC) retirement plan account balances, but plan sponsors still have a fiduciary duty to ensure that the need for these distributions is real. In the November/December issue of Benefits […] The post Hardship Distributions: Five Questions for Plan Sponsors appeared first on Word on Benefits.
After a lengthy investigation and considerable back and forth between the two parties, Amazon and OSHA have reached a settlement amounting to $145,000 in penalties. The Occupational Safety and Health Administration (OSHA) was charged with looking into complaints of workplace safety violations across Amazon facilities, particularly the 10 in New York, Florida, Idaho, Colorado, Pennsylvania, Illinois, and New Jersey, that were cited in the settlement.
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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