As the vast body of labor regulations continues to grow and ratchet ever tighter, companies must keep abreast of and comply with hundreds of new workplace requirements each year. This means hiring bigger HR departments, contracting with more outside experts, or both.
One part of the Affordable Care Act (ACA) that has business owners shifting toward offering more voluntary benefits is the Cadillac Tax. Due to go into effect in 2018, this 40 percent levy on “high cost” health care plans was created to offset the costs of the ACA.
Thanks to changes in workplace law and economic pressures raising health care costs, employers are now leveraging the workplace to improve employee health more than ever before.
Managing employee turnover isn’t the most glamorous part of running a company. Preparing to open up a vacancy can be just as taxing as filling one. Having a strategy to conduct exit interviews can ensure a smooth and amicable transition for both company and employee.
Crafting an effective job description is vital for hiring the right people and managing them once hired.
Communication is the most important part of building a strong workforce. Teams must share a vision, communicate it amongst groups, and give accurate reviews on how their members perform in pursuit of continuing goals.
You didn’t go into business to become a bookkeeper, a retirement plan administrator or a monitor for a government bureau. You have a vision, but too often it’s pushed aside when the tasks of administering your business takes precedence. These things need doing, of course, but business owners must take stock of hidden costs of HR before they’re forced off the path of success.
Too few employees today are taking advantage of one of the best options they have to save money while, at the same time, looking out for the health and well-being of themselves and their families. Section 125 Cafeteria Plans offer employees the opportunity to defer non-taxed income and use it instead on a wide range of medical procedures and over-the-counter purchases, both saving them money and ensuring financial stability when health issues arise.
Most people don’t realize how many HR functions are going on behind the scenes of an organization; that is, until they go to work for a company without a dedicated HR department. In a nutshell, a good HR team is devoted to providing effective policies, procedures, and people-friendly guidelines to the organization. HR objectives run the gamut—from payroll administration to sexual harassment training; from recruitment support to workplace safety.
Like most business owners, you are well aware of the time and energy that goes into ensuring your employees get paid promptly and that the right tax amounts are diverted to the government. This means more than simply staying on top of hours and signing a few checks.
