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Annual pay growth , excluding bonuses, from May to July 2023 was 7.8%, according to data from the Office for National Statistics (ONS). Its latest labour market figures revealed that this was the same as the previous quarter, the highest regular annual growth rate since comparable records began in 2001, and in line with market expectations. Annual growth in employees’ average total pay including bonuses was 8.5%, due to NHS and Civil Service one-off payments made in June and July 2023.
62% of workers see inflation as a barrier to securing their retirement. How can employers help their workforce navigate modern retirement amid market volatility? The post Beyond The 401(k): The Full Potential Of Employee Financial Wellness appeared first on Wellable.
Imagine a world where managing employee benefits is no longer a daunting task but an empowering experience for HR teams and employees. With an innovative employee benefits platform, that world becomes a reality. This game-changing platform revolutionizes how organizations administer and deliver benefits, putting the power in the hands of employees. From personalized plan comparisons to easy enrollment and on-demand access to benefits information, this platform empowers employees to make informed
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?
The Alabama Department of Revenue has issued guidance to help employers understand the reporting requirements for the overtime pay exemption that goes into effect in 2024. The agency has also issued proposed rules.
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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.
Knowledge management is a critical component of modern business operations. It involves the creation, organization, and distribution of information within an organization to improve decision-making, problem-solving, and overall efficiency. To achieve this, companies often rely on knowledge management software to streamline the process. In 2023, there are several standout options available, each offering unique features and capabilities.
One place where there is a gap in adult financial education is programs for older adults age 65+. The bulk of community and workplace programs cover financial tasks and decisions to get “to retirement,” not “through retirement." One of the niche audiences for my business, Money Talk , is older adults grappling with financial issues such as creation of a retirement “paycheck,” paying taxes on required minimum distributions (RMDs), and simplifying financial accounts.
On September 8, the U.S. Department of Labor (DOL) announced it had opened the comment period on its proposal to increase the minimum salary level for the Fair Labor Standards Act “white collar” exemptions.
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.
In today’s ever-evolving job market, the freelance economy continues to flourish. More professionals are opting for freelance work, and businesses are increasingly relying on freelancers to meet their project needs. Managing a freelance workforce efficiently has become crucial, leading to the emergence of various freelance management software solutions.
Competition for talent was cited by three-quarters (77%) of employers as a key issue influencing their benefits strategy , according to research by global advisory, broking and solutions firm Willis Towers Watson (WTW). Its Benefits trends survey , which surveyed 339 UK organisations across a range of industries about their benefit strategies, also found that despite 45% of UK employees favouring workplace benefits that support long-term finances and retirement, more than half of employer respo
Get ready for next-generation payroll training through four transformational certificate programs at the PayrollOrg’s Payroll Leaders Conference (PLC). The conference will be hosted at MEET Las Vegas, September 17-20, 2023.
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.
In today’s fast-paced technology-driven world, hiring the right talent is crucial for the success of any organization. Technical assessments play a pivotal role in evaluating the skills and capabilities of potential candidates. As we step into 2023, the demand for skilled tech professionals remains high, making it essential for businesses to utilize the best technical assessment tools available.
Need to know: Toxic workplace cultures exist in many UK oganisations, with leaders and managers often to blame. Creating a culture where employees can raise concerns is essential to overcoming such environments. Organisations need to think about how they react where examples of toxic behaviour do occur. Allegations of toxicity and harassment at the broadcaster ITV, and of those who raised concerns facing bullying and discrimination, show just how damaging a toxic culture can be, both for those w
Most workers are concerned about poor indoor air quality and close to half think its damaging their health, according to a new survey conducted by Opinium for Spiralite. According to the poll, British workers are mostly concerned about the impact of air-quality on their health (64 percent concerned compared to 36 percent not concerned). One fifth (20 percent) are very concerned, rising to 38 percent of people living in London.
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.
The field of Human Resources (HR) is constantly evolving, driven by changes in the workplace, technology, and society. To navigate this ever-shifting landscape effectively, HR practitioners must stay updated on the latest trends, strategies, and models. In 2023, several HR models have gained prominence as valuable tools for managing talent, enhancing organizational performance, and addressing the challenges of a rapidly changing workforce.
Two-fifths of older employees are unaware of how much they have saved for retirement, according to research by workplace savings and pensions fintech Cushon. Its survey of more than 2,000 employees enrolled into a workplace pension found that older employees have less clarity over the value of their retirement pension pots , as 41% of those aged 55 and above are not sure how much they have saved, compared to almost three in 10 (28%) of all UK staff.
The latest Employee Wellbeing Data Report [registration] from flexible office provider Mindspace claims that around 9 in 10 employees consider wellbeing facilities and offerings are ‘critical’ when choosing a workplace, and 82 percent expect support from their employers in achieving a work-life balance. The report argues that whilst the trend of ‘quiet quitting’ may be abating and the ‘return-to-office’ mandates are increasing, the survey suggests that attitud
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!
In today’s fast-paced and interconnected business world, effective team collaboration is essential for success. As remote work and distributed teams continue to be the norm, businesses need robust collaboration tools to keep their teams connected and productive. In 2023, there are numerous team collaboration software tools available, each offering unique features and capabilities.
What You Need to Know Key to the long-term success of any business-to-business vendor are its advocates out in the field: professionals who insist on attesting to their positive experience working with any particular vendor and that vendor’s product. For providers of cloud software for human capital management, when these testimonials encompass the intertwinement of their technology with the aspirations of exemplary people leaders, the stories are especially powerful.
Recently, I bemoaned how Orwell is often invoked in support of an argument by people who haven’t read him. They are usually drawing on some laundered misperception of his work, and especially Nineteen Eighty-Four. Well, this month I witnessed somebody misapplying the work of Kafka in a similar attempt to make a middlebrow point about the so-called return to office.
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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