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See our previous editions: 2023 recap 2022 recap 2021 recap Key 2024 HR Technology Mergers and Acquisitions Some of the more notable M&A activities we’ve looked at over the last year: Talent Acquisition JobGet acquired one of the longstanding frontline hiring job boards, Snagajob. Like this post?
With approximately 155 million Americans relying on employer-sponsored health insurance, this window is crucial because the choices made during open enrollment will impact employees’ coverage and financial well-being for the upcoming year.
We’re a short seven months from September 3, 2023, when employees can start submitting claims for Paid Leave Oregon benefits. Withholding Contributions As of January 1, 2023, employers should have begun withholding employee contributions for Paid Leave Oregon.
Indeed, the year 2023 will be an interesting one for payroll, as novel trends emerge and existing rules are modified. As an employer, it’s important to know what payroll challenges may be in store for 2023 and the foreseeable future. Payroll tax rates and employeebenefits limits. Transit and parking benefits.
On the other end of the spectrum, among the top five practices that marked an HR organization as compliance -focused was a reactive approach to employee health and wellness and the lack of mobile HR. Note: Sapient’s 2023-2024 HR Systems Survey will be live in May and June.
Quick look: While the HR and benefits experts at ExtensisHR can’t predict the future, they can foresee the top expected employeebenefits trends in 2023. ExtensisHR’s SVP of People and Culture, David Pearson , weighed in on the top expected employeebenefits trends of 2023, outlined below.
Quick look: The 2023 SHRM EmployeeBenefits Survey highlights the shift brokers are experiencing in how clients are prioritizing employeebenefits. Therefore, rather than viewing the future of employeebenefits as an “out with old, in with the new” situation, it’s better to welcome a co-mingling of the two.
Business leaders should regularly review their offerings to keep up to date and deliver what employees want. A new Forbes Advisor survey findings reveal 40% of employers say workers leave their job to find a role with better employeebenefits. 401(k) contributions are a common benefit and sorely missed when not available.
With the advancement of technology, benefits administration software has become an essential tool for businesses of all sizes to streamline their HR processes. In 2023, there are numerous benefits administration software options available, each with its unique features and advantages. What is Benefits Administration Software?
It’s important to stay informed about these laws and to ensure that your organization is in compliance. Compensation and benefits. Another important issue for HR Managers is creating a competitive compensation and benefits package that will attract and retain top talent. Employeebenefits.
Quick look: This year, continuing inflation challenges and the demand for personalized employeebenefits packages made headlines. Likewise, our five most-read broker blogs in 2023 also reflected these trends. At the same time, there is a continued prioritization of tailored employeebenefits packages.
In 2023, enterprise payroll software has evolved to offer advanced features that streamline the payroll process, ensure compliance with tax regulations, and enhance employee self-service options. With Papaya Global, enterprises can handle payroll, compliance, and HR administration seamlessly across multiple countries.
Administrative responsibilities – Performing administrative work like maintaining the HRIS where employees’ information is stored. Dive in 12 Key Functions of Human Resources to Know in 2023 Why is Human Resources important? Can boost employee morale by effectively managing conflicts, concerns, and grievances.
Like taxes, employeebenefits administration requires a lot of paperwork and management to ensure compliance. Since its inception, the Affordable Care Act (ACA) has had several requirements for employeebenefits and annual reporting with some changes over the years. What is the Affordable Care Act (ACA)?
Quick look: 2023 is coming to a close, a time when many HR professionals review the year’s key trends and what aspects of them may remain relevant in 2024. Our most popular blogs in 2023 for small- and medium-sized employers reflected these trends. Learn more > 5.
Quick look: Another year has come and gone, and the time is now to prepare for 2023. From reimagined learning and development programs to addressing the burnout prevalent among HR staff and leadership, here’s what to expect in 2023, according to ExtensisHR’s SVP of People and Culture, David Pearson. Leaning on learning and development.
Remote Work Compliance: 6 Factors to Consider heather.vanhou… Tue, 06/20/2023 - 17:13 Main Image Background Color Yellow Body Even as organizations implement return-to-office policies, employers and payroll professionals still need to be aware of the complexities related to remote work compliance. Employers with U.S.
Now more than ever, employeebenefit packages are considered important for the unwieldy terrain of today's job market. Only those organizations that understand how to use this most powerful approach to their advantage by including comprehensive benefits in kind do well in the market for acquiring and retaining key brainpower.
As 2022 comes to a close, companies may be reassessing their employeebenefits packages for the new year. It may be time for businesses big and small to look over the benefits they offer. These potential employees seek jobs with their best health and wellness interests in mind. Mental health and wellness.
Proper research and securing affordable, reliable access to highly sought-after benefits is key. And open enrollment is the perfect time for business leaders to focus on how they plan to build a competitive employeebenefits package. The right benefits matter. 3 ways to build a competitive employeebenefits package.
With a PEO, you are guaranteed access to financial and HR expertise, including creating employeebenefits plans, payroll management, and employee onboarding. Top 10 PEO Companies in 2023: 1. Besides payroll, compliance, and HR services, you can use it to also manage employeebenefits and administration.
Quick look: As 2023 starts to wind down, the National Association of Professional Organizations (NAPEO) provides its Q3 Small Business Snapshot which highlights the current state of employment, and helps brokers and their clients plan as they head into Q4 and beyond. Therefore, SMBs can’t afford a one-size-fits-all solution.
Unlike base pay, which is contractually guaranteed, these extras offer employers flexibility to tailor rewards to workforce needs , while signaling a commitment to employee well-being. According to a 2023 SHRM survey, 68% of employees prefer jobs with top-tier benefits over higher pay. Compliance is non-negotiable.
Quick look: The rapidly shifting pace of the benefits industry is enough to make heads spin. However, as the 2023 BenefitsPRO Health Care Survey points out, there are a few recurring themes brokers can build upon and show their clients how change can be a good thing. Traditional vs. non-traditional benefits: which is best?
As the workforce enters a new era where voluntary resignations are on the decline, it’s an ideal time to evaluate what’s contributing most to employee satisfaction and maximize as many opportunities as possible. Earlier this year, MetLife released a study showing how much benefit satisfaction had dropped between 2020 and 2023.
Quick look: The rapidly shifting pace of the benefits industry is enough to make heads spin. However, as the 2023 BenefitsPRO Health Care Survey points out, there are a few recurring themes brokers can build upon and show their clients how change can be a good thing. Traditional vs. non-traditional benefits: which is best?
Meet Compliance with the Affordable Care Act (ACA) or Pay the Price January 25th, 2024 Share on Facebook Share on Facebook Share on LinkedIn Share on LinkedIn The Affordable Care Act was originally signed into law in March 2010. In this case, for 2023, the employer would pay a penalty of 4 x $4,320, or a grand total of $17,280.
Census Bureau shows some states experiencing a decline in “business applications with planned wages” in 2024 compared to 2023. With a PEO partner, broker clients receive access to enterprise-level employeebenefits from top-rated providers, including healthcare, retirement plans , wellness programs, and life insurance.
Security and compliance: Ensure data security and strict adherence to data protection regulations and privacy laws. Knowledge of local, state, and federal safety laws to ensure compliance. Regulatory compliance: Knowledge of labor laws and regulations related to employeebenefits to ensure compliance with legal requirements.
Imagine a world where managing employeebenefits is no longer a daunting task but an empowering experience for HR teams and employees. With an innovative employeebenefits platform, that world becomes a reality. Importance of Having an EmployeeBenefits Platform in Place 1. Let's delve in.
Bill 25-194 , or the Wage Transparency Omnibus Amendment Act of 2023 will require employers to include salary information in job listings. Updated OFCCP compliance requirements for compensation audits are aimed at closing the gender pay gap at federal level. Law firm Emery Reddy has filed 31 lawsuits since June 2023.
Quick look: Each April, National EmployeeBenefits Day raises awareness of the importance of offering a strong employeebenefits package. However, to make the most impact, SMB employers should carefully monitor benefits trends and their workforce’s needs year-round. Employeebenefits are a big deal.
Nearly 15 years since the first modern business applications migrated to the cloud , organizations are finally following suit and moving their employee payroll operations to the cloud. This raises the risk of missed payroll, leading to potential loss of staff loyalty and compliance failure,” says Silva.
Though analytics show a positive trend continuing in 2023, no one is exempt from challenges facing the market today. The use of digitization and machine learning allows brokers to pinpoint specific employeebenefits needs, assess risk management, and uncover opportunities for clients and prospects more quickly and effectively.
A good leave of absence policy has several benefits: Clear guidelines: A leave of absence policy outlines processes for employees taking time off. Compliance with laws and rules : A leave of absence policy guarantees that the firm complies with all applicable employee leave laws and regulations, such as the FMLA in the US.
Quick look: Aflac has released its 2023-2024 WorkForces Report which examines benefit trends and attitudes of thousands of employers and their employees. While increasing healthcare costs and claims remain a top concern, benefit customization through a PEO shows promise of putting SMBs on a positive trajectory.
Comprehensive employeebenefits packages are essential for organizations to attract and retain top talent, and they are especially critical for small businesses to compete with larger competitors. What are employeebenefits? Why is important to offer employeebenefits?
Retail theft has become a major concern in New York City, with incidents not only on the rise (up 64% when comparing 2019 to 2023), but increasingly involving violence or threats. Despite the requirements and added burdens for employers, there are some definite benefits to the training mandate for employers and employees.
Per the PwC 2023Employee Financial Wellness Survey , 44% of workers believed inflation had a major or severe impact on their financial situation during the prior year. PEOs are a type of HR outsourcing provider that help SMBs manage critical functions like HR administration, employeebenefits, payroll, compliance, and more.
Quick look: The 2023 BenefitsPRO Voluntary Survey provides a welcome bright spot for the broker industry. Its annual results show promise in the months ahead with increasing optimism for the voluntary benefits market. To learn how a PEO partnership could benefit your portfolio, contact ExtensisHR today.
In addition to managing day-to-day HR tasks, PEOs stay on top of the latest industry trends and compliance regulations. The post SHRM’s 2023-2024 State of the Workplace Report: All Eyes on Talent and Technology appeared first on ExtensisHR. Contact ExtensisHR today.
Quick look: Three years after coming to a pandemic-driven halt, which led to unprecedented changes in the workforce, the world is in a much different place in 2023. This includes evaluating employeebenefits. Now, the convenience and accessibility have made it an integral part of employeebenefits.
Kansas HR Compliance for Businesses | Paychex mober Mon, 05/13/2024 - 14:08 Stay Up to Date State regulatory changes sent to your email. " ); jQuery(".mktoForm Paychex aims to help by providing compliance resources for businesses in Kansas. Time and Attendance Track employee time and maximize payroll accuracy. mktoForm select").focus(function(){
HR pros know that compliance is crucial to their organization’s success. Although you may prefer to focus on more strategic objectives—such as recruitment , retention , or performance management —it should be a priority to comply with laws governing benefits administration.
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