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International Foundation of Employee Benefit Plans
NOVEMBER 3, 2022
Organizations are planning salary increases and closely examining their total rewards packages for the year ahead in response to changing workforce demands. The International Foundation surveyed U.S. employers and found. Read more > The post 68% of Employers Are Planning Salary Increases for 2023 appeared first on Word on Benefits.
What is a lost employee? How does it impact payroll? The two Chris’s speak to Daniel Greaves from Brown Brothers Harriman about this topic. Additionally, they share their own examples of how businesses have addressed this issue. The post The lost employee: Payroll’s costly problem appeared first on LACE Partners.
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.
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 IRS has finally announced adjustments to 2023 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. Many of these contribution limits, though not all, are indexed to cost-of-living adjustments. Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs)
International Foundation of Employee Benefit Plans
OCTOBER 31, 2022
We’ve experienced a shift in many different aspects of benefits over the last few years and paid time off is no exception. In the latest Talking Benefits podcast episode, I. Read more > The post Flexible Planned Vacation: What Works and What Doesn’t appeared first on Word on Benefits.
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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.
International Foundation of Employee Benefit Plans
OCTOBER 31, 2022
We’ve experienced a shift in many different aspects of benefits over the last few years and paid time off is no exception. In the latest Talking Benefits podcast episode, I. Read more > The post Flexible Planned Vacation: What Works and What Doesn’t appeared first on Word on Benefits.
It’s that time of year again! The leaves are changing color, the air is getting cooler, and ghosts, goblins, and witches are getting ready to come out and play. But, there’s one thing that doesn’t have to be scary this Halloween —your pre-tax benefits! Commuter benefits, flexible spending accounts, dependent care, and health savings accounts are just a few of the great employee benefits available to help you save money and reduce stress.
Managing employees is one of the challenges employers go through. You want your workers to feel satisfied and valued so that they can increase their input in maximizing productivity. It is also crucial that you motivate them by tracking attendance and calculating their payrolls accordingly. Unfortunately, manual employee attendance tracking can spoil everything from inaccurate payroll calculations to having a messy and confusing employee management system.
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. .
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.
International Foundation of Employee Benefit Plans
NOVEMBER 4, 2022
RxDC Overview In late 2021, Congress passed the Consolidated Appropriations Act, 2021 (CAA) which contained a provision that requires health care plans to submit Prescription Drug Data Collection (RxDC) reports. Read more > The post RxDC Reporting: What Plan Sponsors Need to Know appeared first on Word on Benefits.
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.
The pandemic proved once again that there are certain things in life you cannot avoid. Like getting vaccinations at the hospital or paying your taxes. Life goes on, and in the midst of the chaos you have to learn to bear the pain. When this stress becomes too much , an employee assistance program (EAP) can help you make everything seem more manageable.
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 our potentially recessionary, post-pandemic landscape , the future of the workplace is unclear. As the fog of uncertainty looms along the horizon, it is critical that we view the future with a refreshed perspective and playbook. During tumultuous periods especially, there are certain characteristics that distinguish good companies that get by – or even struggle – from great companies that thrive.
Have you ever wondered what skills to put on a resume? Today might be your lucky day to learn a few tips from the HR Digest. Skills are a vital part of the job evaluation process. An employer will decide on which candidates to interview based on how relevant the skills on their resumes are to the job. For this reason, job applicants will need to ensure that they know what skills to add to a resume before submitting theirs.
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.
Want to replace paper-based time and attendance management software with something more modern? You should seek these 10 attributes, which cover the bases from necessities to nice-to-haves to selling points. With the aid of an attendance management system , you can keep tabs on how much time each person spends on the clock, which may help you avoid breaking any rules or regulations.
The COVID-19 pandemic forced lawmakers to respond with an array of legislation to help Americans, such as the No Surprises Act, the Families First Coronavirus Responses Act and the Coronavirus Aid, Relief and Economic Security Act. Now, however, pandemic-related litigation involving the Employee Retirement Income Security Act of 1974 (ERISA) is becoming more common.
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!
As an employer or human resources professional for a small or medium-sized business (SMB), there are many compliance considerations to be aware of, especially regarding employee benefits and taxation. One such consideration is non-discrimination testing (NDT) for certain benefits offerings. This article will explain what non-discrimination testing is, when you should complete it, why it’s important for your organization, and what happens if you encounter testing failures.
This document serves as a tool to track key congressional positions, as well as potential and pending changes that are relevant to health policy on Capitol Hill. It covers US House of Representatives and US Senate leadership and membership of the healthcare committees of jurisdiction. This tracker will be updated after the election when Congress […].
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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