Practical HR Tips, News & Advice. Updated Daily.
Many people work multiple hourly, part-time jobs but still can’t afford their full-time bills. While these employees are hardworking, they often struggle financially because of unstable hours and low hourly wages. This group of people falls into the category of the underemployed. According to the Bureau of Labor Statistics, 8% of all American workers, hourly […]
A recent survey conducted by Ranstad US explored what workers think about and want from benefits in the workplace. The results showed a staggering majority (94%) want assurances that their benefits will have a real impact on their quality of life. That includes benefits that address student loan debt, work/life balance, and flexibility in general.
Automated features now standard for most employer-sponsored retirement plans helped bring about a record 8.3-percent average participant deferral rate in 2017—the highest level in a decade, according to a recent T. Rowe Price study. The rise in employee deferral amounts perpetuates a trend started in the years after the 2008 financial crisis.
Does your organization offer “green” benefits? Green benefits are benefits that are environmentally friendly in some way. Employers may want to offer green benefits for several different reasons. First, they may be in alignment with company goals and values. Next, they may be a great way to recruit individuals who value the environment and sustainability. […]
Before the holiday, we began to explore some best practices concerning employee assistance programs (EAP’s). Today we have more best practices.
Does your organization offer parental leave beyond the Family and Medical Leave Act (FMLA)? Do you offer paid parental leave? Are your parental leave options available for both mothers and fathers?
There is only one developed nation without some sort of federally mandated paternity leave and it’s the United States. Even when paternity leave is available, it’s usually for only a few weeks and does not come with a full rate of pay or other benefits.
A new law will soon take effect in Massachusetts, where employees will be eligible for paid family and medical leave and will also see an increase in the minimum wage. Governor Charlie Baker signed the bill on June 28, which will require all private employers in the state to offer paid family and medical leave […]
Does your organization routinely conduct exit interviews with departing employees? Some employers swear this is a great way to garner knowledge about how to improve the organization and reduce future turnover. Others feel it’s unlikely to gain real insights because departing employees no longer have an incentive to help. Let’s take a look at some […]
Yesterday we took a look at Internal Revenue Service (IRS) guidance on how to change interest crediting rates in a cash balance (CB) plan. Today we’ll look at the two approaches that the IRS has discussed to address a change in the interest crediting rate.