In October 2021, Bloomberg Law reported, “Covid-19 is upending employers’ open enrollment as benefits plan advisers struggle to communicate with their workers about changes to their fringe compensation.” Additionally, COVID-19 has pushed more employers to conduct open enrollment remotely. Note that prior to COVID-19, many on-site and remote employers had already adopted virtual open enrollment … [Read more...]

It is hardly surprising that employees would prefer to work 28 hours a week instead of 40. The latest argument for implementing a four-day week does not call for compressing the time between Monday and Thursday (or any other combination of days) into four equal segments. It would mean a reduction in total hours, say, 28 hours over four days, with a three-day weekend. The quid pro quo for the … [Read more...]

It is not uncommon for companies to outsource tasks pertaining to administration, sales, marketing and human resources. In most cases, with HR tasks, it is easier to hire external professionals to file taxes, recruit applicants, hire new employees and manage all payroll-related duties. If you have not yet thought about whether you should outsource these tasks or trust others to manage them via … [Read more...]

S corporations allow the business to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. But with those great advantages come many rules, including those related to compensation. Shareholder-employees may think there's no practical difference between income as an owner and income as an employee, but they'd be wrong. The IRS demands that … [Read more...]

Virtually every state requires employers to carry workers' compensation insurance — which is used to pay medical benefits, lost wages and rehabilitation costs to employees who suffer a work-related injury or illness. If an employee is killed because of a work-related injury or illness, then workers' compensation pays death benefits to the family of the deceased employee. What about temporary … [Read more...]

According to a recent Gallup survey, it has been shown that approximately "36% of U.S. employees are engaged in their work and workplace." This conclusion was drawn as a result of data pertaining to the first six months of 2021 in the United States. Worldwide, on a literal global scale, this percentage drops down to only 20% of people who are actively engaged or involved in the work they … [Read more...]

According to trustworthy, game-related news source Newzoo, it is anticipated that the video game industry will reach $200 billion this year. This prediction is representative of a 5.4% year-over-year increase. Additionally, the global market of board games in particular is said to be on the path to reaching a total of $30.93 billion by the year 2028, which will coincide with annual growth rates of … [Read more...]

According to the job-posting service Glassdoor, "The average U.S. employer spends about $4,000 and 24 days to hire a new worker." This price point accounts for the costs associated with sourcing the job, performing background checks, completing prehire assessments, enacting referral rewards and affording recruitment technology, as well as paying the staff involved in the recruitment or onboarding … [Read more...]

According to a report by Brandon Hall Group, "Organizations with a strong onboarding process improve new hire retention by 82 percent and productivity by over 70 percent." Further, employers with a weak onboarding process "lose the confidence of their candidates and are more likely to lose these individuals in the first year." For these reasons, every employer should have a successful onboarding … [Read more...]

When employees take advantage of stock options that are offered as a benefit, you are granting them the opportunity to purchase shares of your company at a predetermined and discounted price. Since the shares are often much less expensive than the share price that nonemployees must pay, stock options can be a valuable benefit for employees. As an employer, you can work with your team to decide … [Read more...]