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Employee motivation can serve as a major driver of organizational success. But keeping team members motivated still proves elusive for many organizations today, and not without reason. Every employee responds to different motivators, and investing in the wrong ones only depletes your company’s budget without effect. Preferences also shift over time, so what engages your workforce right now is almost certain to evolve in the coming years.
Yes, the U.S. Supreme Court issued more mundane decisions this past term. One decision— Boechler v. Commissioner —has a direct impact on your payroll operations, at least if you’re late filing a Tax Court petition and the reason for your tardiness was beyond your control. It’s widely considered to be a win for taxpayers. As you might expect, the IRS doesn’t like being slapped back and it isn’t taking the Boechler decision lightly.
The onboarding process is a crucial stage in recruitment, and it can be easy or difficult depending on your pre-boarding strategies. As a hiring professional, you must prioritize pre-boarding programs to avoid early employee turnover rates. Do not wait until the start day to engage your new hire since you will likely get less turnout considering that the job market is competitive and every business is looking for the best talent. .
I recently attended and presented at the 2022 annual meeting of the American Association of Family and Consumer Sciences ( AAFCS ), a professional association whose members help individuals, families, and communities achieve an optimal quality of life. Below are ten of my key take-aways from this meeting: Customer-Focused Education - Educators must always prepare content with the “customer” (i.e., student) in mind.
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?
After dramatic events of the last few years, remote and hybrid work is commonplace. And all the signs are that it is a trend that will continue. According to a recent study, ‘ How managers are investing in remote and hybrid team success, ’ 93% of organizations across the USA, UK, Canada and Australia say they intend to keep a hybrid or remote model beyond the pandemic.
In the last few years especially, employee wellness programs have soared in prominence. The COVID-19 pandemic and all the stressors placed on workers during this tumultuous time have highlighted how critical mental health , work-life balance and overall wellbeing are. As a result, increasing numbers of employees consider their wellness to be equally important as traditional priorities such as job stability, salary and benefits.
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In the last few years especially, employee wellness programs have soared in prominence. The COVID-19 pandemic and all the stressors placed on workers during this tumultuous time have highlighted how critical mental health , work-life balance and overall wellbeing are. As a result, increasing numbers of employees consider their wellness to be equally important as traditional priorities such as job stability, salary and benefits.
The one thing that will majorly influence the fate of CFO aspirants is their tech skills. According to a Gartner survey of 173 CFOs in November 2020, digital investments topped CFO agendas. Technology literacy is key to making informed decisions about digital investments. “ CFOs are leaning into the ‘digital mandate’ and are investing heavily in next-generation technologies,” said Alexander Bant, chief of research in the Gartner Finance practice. “However, they must remember th
On the final day of BerniePortal’s 5th annual users conference, Weekdays with Bernie , Karin Hurt—award-winning author of four books including– Courageous Cultures: How to Build Teams of Micro-Innovators, Problem Solvers and Customer Advocates – shared her expertise and offered practical tips and tools that she uses to develop leaders through her firm– Let’s Grow Leaders.
We humans are naturally drawn to people similar to us. That doesn’t mean you’re a bad person. Nor does it mean that you are racist, ableist, ageist, or any other – ist. It just means you are human. We like people who “get” us; who laugh at our jokes; who share background experiences; who think about the world in a way that supports our own beliefs.
For all the speculation about what the future of work will be like, one could argue that “the future of work” is already here – it actually began in mid-March 2020 when workers around the world were sent home by their employers to slow the spread of COVID-19. Prior to the pandemic, companies were toying with videoconferencing technology and allowing people to work remotely – but then things got serious.
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.
The average American spends a considerable amount of money on healthcare each year. Premium increases, higher deductibles and copays, and soaring prescription drug prices result in spikes in healthcare costs. According to the Centers for Medicare & Medicaid Services 1 , in 2021, healthcare costs skyrocketed to $4.3 trillion. Despite the decrease in health services accessed in 2020 due to the COVID-19 pandemic, national health expenditures are expected to reach $6.8 trillion by 2030 2.
Many people still have no idea on what the small talk purpose looks like because they haven’t tried it out yet. Professional small talk is highly recommended in the workplace. It is one of the effective social skills that bring people together. . Instead of being regular colleagues, employees get to develop and maintain healthy relationships amongst themselves.
Inflation a nxiety and s tress are becoming debilitating issues haunting employees across businesses and industries. In this article, we are going to take a deep dive into the issue of inflation and how employers can help their workforces cope with the very real financial anxiet ies they’re facing.
International Foundation of Employee Benefit Plans
JULY 6, 2022
The latest Talking Benefits podcast episode is out and, this month, we talk fatherhood and work-life balance. My colleague Justin Held, Senior Research Analyst at the Foundation AND awesome father. Read more > The post Dads Balancing Kids and Career appeared first on Word on Benefits.
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 May 6, 2022, McDermott Partner Chris Nemeth delivered a presentation during the 2022 TEA National Conference titled “ESOP Litigation: Latest Trends and Open Questions.” His presentation focused on recent significant employee stock ownership plan (ESOP) court decisions and emerging litigation trends in the ESOP industry. Chris and his co-presenter touched on the enforceability of […].
In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. While it may be too soon to declare a reversal of that trend, three recent decisions dismissing these types of claims present some hope for plan sponsors and fiduciaries that in appropriate cases they may be able to avoid the costs and burdens of class action discovery.
The most popular HR software is a human resources information system (HRIS). This article will provide an overview of what an HRIS is, as well as all the information you need to have a fundamental grasp of the HRIS. A software program known as a h uman resources information system (HRIS) is used to organize and process specific personnel data as well as human resources-related regulations and procedures.
International Foundation of Employee Benefit Plans
JULY 8, 2022
Changes to the Special Financial Assistance (SFA) Program announced Wednesday by the Pension Benefit Guaranty Corporation (PBGC) will improve the ability of underfunded multiemployer defined benefit (DB) pension plans to. Read more > The post PBGC Releases Special Financial Assistance Final Rule appeared first on Word on Benefits.
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.
Change has been fundamental in responding to disruptions in the work and business environments. Whether for the newest technology in the market or the difficulties posed by Covid-19, it has become the need of the hour. But did you know that most organizational change initiatives (almost 70%) fail? It's possible that managers are feeling overburdened by the procedures.
Companies are investing heavily in diversity, equity, inclusion, and belonging (DEIB) initiatives. One report projects that the global market for DEIB will reach $9.3 billion in 2022.
The talent management process encompasses all actions taken within a business to improve employee performance via recruitment, retention, rewards, and development. Businesses often struggle to find and keep great people, but by developing an effective personnel management plan, the process can be simplified and made more efficient. In fact, organizations that use strategic talent management techniques may expect to see a 38 percent increase in employee engagement and a 40 percent decrease in emp
International Foundation of Employee Benefit Plans
JULY 7, 2022
Has your budget kept pace with the growing expense of your everyday needs? Are inflation, rising interest rates and market instability making you anxious? You’re not alone—Everything is more expensive. Read more > The post Capitalizing on Multi-Asset Credit Strategies in Uncertain Times appeared first on Word on Benefits.
The right HR metrics can illuminate hidden trends, justify decisions to the C-suite, and give you an edge in this unpredictable economy. Download Paycor’s guide and learn how to calculate your: Cost-per-Hire Total Financial Impact of Absences Voluntary Turnover Rate And more!
If you have remote employees in other states than where your organization is located, taxes can be challenging. While remote work has been a phenomenon for decades, the COVID-19 pandemic and technological advancements have made remote work an increasingly common situation for working Americans. According to McKinsey’s 1 2022 American Opportunity Survey, 58% of employees work from home at least once a week, while 35% work remotely full-time.
As employees seek to thrive in the new world of work, learning and development takes centre stage; we highlight five top L&D tools to use now. History has shown us that rapid adaptability is key to recovery. Managers and employees have had to quickly learn new ways of working as organisations shifted to remote and hyrbid working in 2020, from new onboarding processes to remote career development, and effective L&D teams have provided the support and training required.
Unlimited PTO is one of those workplace policy perks that is currently getting some attention globally. The term “unlimited PTO” simply stands for “Unlimited Paid-Time-Off.” It is a flexible vacation policy currently practiced by some companies globally, especially technology companies. Unlimited PTO is becoming a thing for a lot of companies. Employees enjoy having this flexible vacation policy.
During the pandemic, many businesses allowed their employees to work from home as a matter of safety. Now, remote work has become the norm. However, it can be tough to navigate the switch from a compliance perspective, particularly when it comes to out-of-state remote staff members. Many businesses, even very small businesses, have started to open up remote positions to a wider audience by removing geographic barriers.
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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