As rising health care costs and inflation place pressure on both corporate and personal budgets, employers and workers alike are looking for ways to save money without sacrificing quality employee benefits. A Premium Only Plan, also known as a POP plan, is an option that may offer significant tax savings for all involved parties.
The role of human resources professionals in crisis management planning has evolved from a purely administrative function to a strategic and indispensable component of an organization’s resilience and ability to recover. HR professionals play a vital role in strategic workforce
Business owners and human resources professionals know that the battle for technical and market supremacy often comes down to one critical factor – competition for top talent. The best people can be counted on to build the best teams and deliver the best results, but hiring the best talent is only the first step. A seamless transition from new employees to great hires depends on the art of employee onboarding.
Employee engagement is the key to maximizing workforce potential, and in most organizations, the resident experts on engagement are the human resources professionals. Learn how the HR team has evolved from recruiter, paymaster and benefits administrator to an essential strategic partner of senior management with a critical role in the organization’s success.
The weakest point in your company’s security, particularly your company\’s cybersecurity, could be your employees. Scammers frequently target individual workers in an attempt to steal data, divert funds, access accounts or install malware. Since these kinds of digital threats are rising, businesses need to assess their social engineering insurance needs.
The world of work is undergoing rapid transformation, including the rise of gig workers, also known as contingent workers, freelancers or contractors. Learn more about the rise of gig work, the benefits and challenges they present for human resources services and how HR strategies can be adapted to effectively manage and integrate the growing contingent workforce.
IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexible spending accounts (FSAs), 401(k) plans and individual retirement
Between the reduced daylight hours and hazardous road conditions, winter can be a dangerous time of year for drivers. To keep yourself and your passengers safe, learn how to prepare your car for winter to help you navigate the icy roads with greater ease.
Businesses need employees to perform work, but taking on employees produces more work. One HR tasks that can eat up significant resources is payroll processing. That’s why payroll outsourcing is popular, especially among small to midsize employers.
American workers are stressed, and a lot of their stress may be related to money. That\’s why employee financial wellness programs are becoming an increasingly critical part of any well-rounded employee benefits package. Employers can support their team by providing employee financial wellness programs that help workers manage their money and take control of their finances.
Running a business means managing many types of risk, and one of the more challenging risk management responsibilities is navigating the complex regulatory environment of HR compliance. Failure to comply with regulations can result in fines, legal judgments and reputation damage, but following compliance best practices can reduce this risk.
When you begin a construction project, you never intend for it to result in a lawsuit. However, due to the high-risk nature of construction, lawsuits are common. To protect against this potential financial impact, contractors need to carry adequate construction liability insurance.
Your refrigerator stops working; your dishwasher dies; your air conditioner goes kaput. When you contact your insurance company, you find out that your policy does not cover malfunctioning home appliances, so you face massive out-of-pocket costs. To avoid a scenario like this, consider securing home insurance for appliances.
Your workforce likely includes Boomers, Gen Xers, Millennials and Gen Zers, parents, pet parents and those without children. They all want different things from their employee benefits, and one way of meeting the needs of a such a diverse workforce is a Lifestyle Spending Account program.
If there is a secret to success in life and in business, it is resilience, the capability to withstand adversity and keep pushing forward, ready for the next challenge. Thomas Edison believed that “success requires the courage to try one
In an increasingly competitive job market, basic health insurance and retirement plans are no longer enough to attract and retain top talent. Employees are seeking more than just medical coverage; they are looking for a comprehensive approach to their well-being, both inside and outside the workplace.
No matter the industry or legal path for merging two organizations, the most difficult challenge of partnership is how to combine two corporate cultures into one cohesive team. The degree of success in this endeavor is not determined by business prowess or cash flow, but is based on the ability of the human resources team to anticipate problems, ease the transition and engage the workforce in a new vision and mission.
As a business owner, you may have a difficult time imagining anything serious happening to yourself, your business partner or the employees you work with every day. However, death and disability are real risks. Just as individuals should make plans for their families by purchasing disability and life insurance, business owners are wise to purchase key person insurance.
As technology, markets and consumer behaviors continue to evolve rapidly, business owners who allow their teams to do things in the same old ways are certain to lose their competitive edge. But, business owners who support innovation and invest in fostering creativity and problem-solving skills can expect to enhance performance today and cultivate growth for tomorrow.
Pollution, mold, asbestos and bacterial contamination can all leave companies owing millions of dollars in costs related to lawsuits and cleanup requirements. This risks are why environmental liability insurance is a vital coverage for many businesses, notably contractors, property management companies, manufacturers and other businesses that have environmental-related exposures.
As demographic and generational changes transform the workplace with a younger and more diverse workforce, diversity, equity and inclusion (DE&I) initiatives are both desired by employees and recognized by organizations as vital components of a thriving, innovative and sustainable company culture. Learn more about the objectives, tangible benefits and practical strategies that can be incorporated into a DE&I plan.
The rapid advancement of artificial intelligence technology is defining a new workplace, transforming the outlook for many traditional jobs and challenging human resources professionals to harness the power of generative AI for both workforce development and strategic competitive advantage. Learn how HR professionals are implementing AI-powered solutions across the full range of HR services.
When freshmen head off to college, they are often leaving home for the first time. In addition to choosing classes and navigating a new life with roommates, considering insurance for college students is also important. Common personal insurance policies for college students include health, rental and car insurance, but there are many things to consider when deciding on coverage.