Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
As most retirement plan sponsors and administrators know, the Employee Retirement Income Security Act (ERISA) doesn’t technically require a plan to have an investment policy statement (IPS), but the U.S. Department of Labor (DOL), which has enforcement authority for ERISA, has said that having one is consistent with the fiduciary obligations set by the law.
Yes, you read that headline correctly, the youngest generation in the workforce is already planning on leaving it once they hit the 34-year mark. And to think, we were just worrying about attracting them into the workplace!
It can be hard to find workers in any business environment, and that’s even more true with a strong economy and low unemployment But it’s not just big corporations looking for top-dollar professionals that are feeling the pinch; companies whose workers are part-time, temporary, and largely independent need to be careful of how they treat […]
We talk a lot about the importance of thinking beyond salaries and bonuses to attract top talent. Employees want to have top-notch benefits, as well as a comfortable, friendly work environment. Part of that includes flexibility, such as working from home, generous paid time off (PTO), and more.
In a widely expected move, the Maryland General Assembly has approved a significant increase in the state’s minimum wage by voting for legislation aimed at increasing the current rate of $10.10 per hour to $15 by 2025.
How do you decide if you should outsource your benefits administration? If you do decide to go that direction, how do you get started?
For some roles, like human resources, specific credentials are required—think Professional in Human Resources (PHR) or Senior Professional in Human Resources (SPHR). For some industries, like finance and accounting, professionals need certifications that show they’re licensed to offer the services in those industries—for example, a Certified Fraud Examiner (CFE) working with banks and lenders.
The federal government should take steps to clarify whether millions of dollars of retirement savings transfers to states from employer-based plans such as 401(k)s constitute reportable and taxable distributions, according to a report by the Government Accountability Office (GAO).
Deciding when it’s time to abandon in-house processes in favor of outsourced assistance can be very challenging, especially when it comes to HR benefits administration.
Employers have until May 21 to make known their concerns about the U.S. Department of Labor’s (DOL) proposed rule that is expected to make more than a million more workers eligible for overtime pay.