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As we settle into 2024, many teams have recently renewed their Employee Benefits plans. It’s the perfect time to take a closer look and remind your employees about the fantastic, often underutilized benefits these plans offer. From free to low-cost options, these benefits are not just perks – they’re valuable resources for your employees and their dependents.
Franchises are a common type of organization in the U.S. In 2023, there were 805,000 franchises nationwide, generating $860.1 billion in revenue 1. Because of their potential for higher profits under the umbrella of a recognized brand, franchise businesses are often a draw for entrepreneurs. But as with any other business, you must know your health insurance obligations before hiring workers.
Here are 5 benefits to engage your Gen Z workforce H1; The Five Benefits That Gen Z Want in the Workplace Gen Z will comprise a third of the workforce within the next few years. So what benefits must companies adopt in order to attract and retain this new generation of talented employees? Born after 1995, Gen Z is slowly replacing retiring Baby Boomers within the workforce.
For most, the start of a new year marks a fresh beginning; however, for many HR professionals, January means the end of open enrollment (OE). While OE certainly brings about its challenges for HR and benefits professionals, it also can give them a clearer idea of what’s working and what’s not for their employees. This … Continue reading "The State of Employee Benefits Following Open Enrollment 2023" The post The State of Employee Benefits Following Open Enrollment 2023 appeared first on Wi
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?
Need to know: Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them. Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. The growth of digital and micro payments over the next 10 years could see crypto currency become more common in pay strategies, especially for incentive schemes and gl
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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.
The U.S. Department of Labor released its list of potential FUTA credit reduction states for 2024, and they are California, Connecticut, New York, and the Virgin Islands. The determination will be made after November 10, 2024.
In the dynamic landscape of the corporate world, employee training is an indispensable element for organizational success. As companies strive to enhance their workforce’s skills and competencies, the implementation of structured training programs becomes crucial. One valuable tool in this regard is the Training Matrix, which serves as a roadmap for employee development.
Estimated reading time: 3 minutes Technology is a great thing. It’s also constantly changing and, for effectiveness, we have to stay current with what’s happening. And by “we”, I mean both individuals and organizations. For example, I’ve been seeing articles about Q-day, which is a term used to describe when quantum computers will be able to crack all of the codes currently protecting digital data.
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.
Employment contracts are the foundation of the employer-employee relationship, defining the terms and conditions that govern the professional alliance between both parties. As the job market evolves, so do the various types of employment contracts. Understanding these contracts is crucial for both employers and employees to ensure a harmonious and legally sound working relationship.
Estimated reading time: 4 minutes I came across an article recently on CNBC that said 90% of companies plan to implement return to the office policies by the end of 2024. This isn’t surprising. Organizations have been talking about return to the office policies mandates for quite some time. That’s not what I want to talk about today. I want to talk about meetings.
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.
London’s office market continues to adapt to evolving workforce demands. The normalisation of hybrid and flexible working since the pandemic remains the biggest cultural shift that the office sector has witnessed in decades. In addition to the rise in demand for quality-as-a-must in 2023, collaboration, culture, and connectivity will lead the charge for office space trends in the year ahead.
In the dynamic landscape of business, where change is the only constant, organizations need a robust strategy to ensure that their workforce aligns with the evolving needs of the company. Workforce planning emerges as a crucial aspect of human capital management, offering a structured approach to anticipate and meet the demands of an ever-changing environment.
Turnover is just part of doing business. Some employees aren’t a good fit, while others find new opportunities. While some turnover is normal, too much can damage your organization’s performance, lower morale, and even interrupt important projects. That’s why, as an HR professional, you need a simple way to calculate, analyze, and manage your turnover rates.
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.
There have been many experiments over the years that expose the darker aspects of human nature. One of the most telling of these was carried out by two American researchers called John Darley and Bibb Latane in 1968. The two men’s work was partly inspired by a notorious 1964 murder in which a woman called Kitty Genovese was stabbed to death in public.
Proof of Investment (POI) submission is a crucial aspect of managing employee benefits and financial transactions within an organization. Employers play a pivotal role in ensuring the accuracy and completeness of these submissions. This guide aims to provide employers with comprehensive insights into the process of handling Proof of Investment submissions, highlighting key considerations, best practices, and potential challenges.
Chemicals firm Henkel has introduced fully paid gender neutral parental leave for its 50,000 employees worldwide. The firm’s employees in 80 countries will have the opportunity to take up to eight weeks of fully paid parental leave. The length of the leave is based on the caregiver role as opposed to their gender or biological parent status. The leave is presented as Henkel’s minimum standard and will complement existing local practices and regulations, promoting greater gender equity in countri
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!
Over a third of adults experienced high or extreme levels of pressure and stress always or often in the past year (35 percent), according to the new annual report from Mental Health UK. The report warns that the UK is at risk of becoming a ‘burnt-out nation’. Against a backdrop of rising levels of people out of work due to long-term sickness, the polling of over 2,000 UK adults by YouGov for the Mental Health UK reveals that one in five workers (20 percent) needed to take time off due to poor me
Wellable’s 2024 Employee Wellness Trends Industry Report reveals crucial insights for employers to make informed wellness strategies and benefits decisions. The post 5 Key Takeaways From 2024 Employee Wellness Industry Trends Report appeared first on Wellable.
Supermarket Lidl GB is to give its 26,000 hourly-paid employees a pay rise as part of a £37 million investment into their wages. From 1 March, entry level rates will increase from £11.40 to £12 outside of the M25, rising to £13 with length of service. For those working within the M25, wages will increase from £12.85 to £13.55, increasing to £13.85 over time.
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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