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M&A Announcements in the HR, Recruiting and Benefits Space | 2016. January 2016. SterlingBackcheck Made Several Strategic Acquisitions in 2016. February 2016. March 2016. April 2016. TriNet Acquires Teleborder; Expands Services for Companies Hiring International Employees. August 2016.
Funding Announcements in the HR, Recruiting and Benefits Space | 2016. January 2016. The recruitment marketing platform Smashfly started off 2016 raising $22 million. The first of many big funding announcements in 2016. February 2016. to help small businesses create employeeretirement accounts.
And how as a result, we need to manage employees differently, use newer technologies, etc. But what about employeebenefits? For the past twenty years, the Society for Human Resource Management (SHRM) has been publishing an employeebenefits survey. It means adding or enhancing core benefits.
But here is the challenge – how do employers create the most competitive benefits which service their true purpose – to attract, retain, reward and engage with top talent in the market? Most employeebenefits and perks do not come cheap and costs can snowball as your company expands.
Are employeebenefits today considered perks, or are they expected? Not surprisingly, the history of employee perks involves World War II, the burgeoning tech industry and women. Today’s Top EmployeeBenefits and Perks. In today’s world of work, employeebenefits are expected. What do you think?
Because if an employee doesn’t understand how a benefit works (or it isn’t otherwise intuitive to use), the most likely action that they’ll take with regards to said benefit is no action. After all, just because a communication or SOP is sent out doesn’t mean it was read. My big takeaway?
Because if an employee doesn’t understand how a benefit works (or it isn’t otherwise intuitive to use), the most likely action that they’ll take with regards to said benefit is no action. After all, just because a communication or SOP is sent out doesn’t mean it was read. My big takeaway?
Gary Corcoran of Advance Systems says: ”Employee turnover is a situation where employees exit the organization voluntarily for various reasons or are relieved by the organisation or retire, thereby affecting the organization, most times negatively in terms of costs and the capacity to deliver the minimum required services.”.
Promoting financial wellness and addressing the negative effects of money-related stress on employees is often overlooked by companies when they seek to lessen the stress level of their workforce.
Although American workers are split in their satisfaction levels with employer-provided benefits, companies offering benefits still have a competitive advantage over those that do not, the EmployeeBenefit Research Institute (EBRI) found in a recent survey.
EmployeeBenefits: Definition, Examples and Best Practices . Employeebenefits are important to your present and future employees. Employeebenefits are offered together with salary as a company’s compensation package. EmployeeBenefits Defined . 13 Examples of EmployeeBenefits .
Supporting your employees’ mental health will help support a workforce that is happy, healthy, and productive – a win/win for all parties. Here are ten employeebenefit programs to consider to better support mental health: 1.) Employee Assistance Program (EAP). Stress Management. Financial Literacy Education.
The Internal Revenue Service (IRS) again left most annual threshold and benefit levels unchanged when it announced them for 2017 on October 27, 2016. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Retirement Plans.
EmployeeBenefits: Definition, Examples and Best Practices . Employeebenefits are important to your present and future employees. Employeebenefits are offered together with salary as a company’s compensation package. EmployeeBenefits Defined . 13 Examples of EmployeeBenefits .
They’re retiring. The workforce is experiencing a seismic shift as Baby Boomers embark on their journey into retirement. The oldest boomers turned 65 in 2011, the youngest will hit 65 by 2029, and all boomers will be above the social security retirement age of 67 by the year 2031. (To So, where are the Baby Boomers now?
TCRS interviewed more than 1,800 for-profit employers with five or more employees to understand their views on their employees’ future retirement. TCRS interviewed more than 1,800 for-profit employers with five or more employees to understand their views on their employees’ future retirement.
Perez has appointed five new members to the 2016 Advisory Council on Employee Welfare and Pension Benefit Plans, known as the ERISA Advisory Council. The 15-member council provides advice on policies and regulations affecting employeebenefit plans governed by the EmployeeRetirement Income Security Act (ERISA) of 1974.
HR teams and executives have a unique opportunity to make an outsized positive impact on the financial health of these employees and contractors using the tools and roles already available to them. A quick scan of any employeebenefit onboarding experience reveals the overwhelming complexity that every employee faces.
Department of Labor (DOL) has announced an update on compliance with employeebenefit plan rules under the EmployeeRetirement Income Security Act (ERISA) for those adversely impacted. The counties also are referenced in IRS Announcement 2016-39. In light of the devastation following Hurricane Matthew, the U.S.
HR professionals have a big role to play in making sure employees feel heard, and this is especially true when it comes to benefits. This way, you can better ensure your benefits offerings are on target. According to a report from CECP , 61 percent of companies offered paid time off volunteer program s in 2016.
Overview of the 2016 Report. The most recent report called for revamped procedures at the PBGC, which insures participants’ benefits when companies with defined benefit plans can no longer pay them out for a variety of reasons, including bankruptcy. Here are some positive, and more critical, assessments from the 2016 report.
The IRS just released the 2017 retirement plan contribution limits, and the changes aren’t big ones. . Employees will be able to continue to defer up to $18,000 into their qualified defined contribution plans, and an additional $6,000 for those over the age of 50, for a combined total of $24,000. Procedure 2016-55 ).
Supporting your employees’ mental health will help support a workforce that is happy, healthy, and productive – a win/win for all parties. Here are ten employeebenefit programs to better support mental health: 1.) Employee Assistance Program (EAP). Financial wellness is a hot topic in the employeebenefits space.
According to SHRM’s 2019 EmployeeBenefits Survey , however, while trending upward, the percentage of U.S.-based Many of the HR pros at the conference said debt-burdened employees are putting off investing in 401ks, even where employers offer generous matching contributions. employees are under financial stress.
In the International Foundation of EmployeeBenefit Plans 2016 survey, HR managers said 66 percent of their employees worried about debt. If employees are not weighed down by student debt they can focus on their career growth and be productive employees that contribute at the highest level.
The average 2017 college graduate had more than $39,410 in loan debt , up 6 percent from 2016. Because of this debt, job seekers may find benefits as important as salary. For young employees with student loan debt, repayment assistance is one of the most important benefits.
An MEP is a retirementbenefit plan that is offered at the group level among a set of employers who share a commonality. In short, several related employers work together to create one 401(k) offer package and then share the benefits of this approach. MEPs are retirement plans formed by a group of employers. 2526 and H.R.
Department of Labor’s EmployeeBenefits Security Administration found from at least February 1. from employees’ pay for voluntary contributions to the Weinhagen Tire Co. 401(k) Plan on September 22, 2016, and an additional $37,754 on November 4, 2016. Weinhagen is the sole owner and president of St. 401(k) Plan.
But I’d be willing to bet a majority of employees would have thought twice about leaving if they had a benefits package worth staying for. In fact, a 2015 report by the EmployeeBenefit Research Institute revealed that the benefits package is an important decision factor for 77% of workers deciding whether to accept a job.
Department of Labor (DOL), in late December 2016, reinstated earlier guidance on proxy voting for plan fiduciaries that encourages them to “responsibly” exercise their rights as shareholders. The new Interpretive Bulletin withdrew IB 2008-2 and brings back earlier guidance related to plans’ proxy voting. “T[he] 2015 Reversal on ESG Factors.
Welcome to EmployeeBenefits 101, a collaboration with Namely’s very own benefits team. Today’s post is the first of two in a series on managing benefits at your growing company. Ah, benefits. An important employee offering at any company—from the newest startup to the world’s best-known brand.
Focused on the unique needs of the small business market, these 401(k) providers strive to make high-quality, low-cost retirement plans accessible to all – not just Fortune 500 companies. Ubiquity Retirement: Reviews, Media Endorsements, and More. Employee Fiduciary: Reviews, Media Endorsements, and More. Ease-of-Use.
The ERISA Advisory Council is integral to the department’s work in enhancing and preserving the health and retirementbenefits of America’s workers,” said Secretary Perez, quoted in a press release. Their expertise will be a valuable complement to the department’s mission to protect workers’ benefits.”. 12/29/2016.
The topic of employeebenefits has gone from watercooler conversation to national news, and employees are more engaged with their benefits than ever. With Open Enrollment on the horizon, your employees are already thinking about making changes—specifically: how to maximize the money they spend on medical care.
The EmployeeRetirement Income Security Act (ERISA)’s Section 404(c) protection is commonly relied upon by plan fiduciaries to lessen potential liability in the event that participants, who are directing their investments in employer-sponsored 401(k) plans, suffer large losses. Texas; 2016 U.S. by Arris Reddick Murphy.
The proposed amendments would delay transition and enforcement of the rule from taking effect on January 1, 2018, which likely will be welcomed by most retirement plan sponsors, asset managers, and service providers, as well as insurance companies that offer annuities. Acosta (No. 16-cv-03289-SRN-DTS). OMB Review.
The possibility of cyberdata sabotage is now a day-to-day threat that frequently makes the headlines—and employeebenefit plans are not spared exposure to data sabotage. Employeebenefit plan administration has become an outsourced commodity. They should consider extending that process to retirement plans.
High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% Unfortunately, many employees aren’t getting the full HSA value. Using HSAs as an Investment Strategy for Retirement.
The agreement with MagnaCare LLC, negotiated in 2016, resolves alleged violations of the EmployeeRetirement Income Security Act (ERISA). million in network management fees to ERISA health benefit plans—with possible additional payments of $4.5 courtneyk / E+ / Getty Images.
Saving and planning for retirement doesn’t need to be on your daily to-do list, but something worth investing time in to make sure you’re covered for your future. Zenefits has partnered with best in breed businesses to bring you an easier way to connect your employees with the programming they’ve been asking you for.
Without a budget, employees may struggle with managing their bills and continue to live paycheck to paycheck. This is why companies need to start investing in helping their employees with personal finances. 401(k) and Retirement. To ensure they keep their retirement planning top of mind, consider starting automatic enrollment.
The maximum wage base for Social Security tax will be $127,200 in 2017, up from $118,500 in 2016, the U.S. The wage base is the maximum amount of an individual’s gross income that can be subject to Social Security tax on the employer and employee. Application to Fringe Benefits. Application to Fringe Benefits.
Each week, with the help of HRmarketer Insight software, our researchers compile a sampling of mergers & acquisition, funding and partnership announcements from the human resource, recruitment and employeebenefits marketplace. AmWINS Group Completes Acquisition of Group Benefit Services. Captain401 raises $3.5M
With special thanks to Mercers Paul Strella, Norma Sharara, and Heidi Rackley The following article appeared in Mercer Select on April 14, 2016 IRS has withdrawn part of a proposed regulation that would have tightened nondiscrimination testing for qualified supplemental executive retirement plans (QSERPs) and other formulas tailored to benefit a narrow (..)
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