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2023 Best Practices for Payroll Management

PCS

Payroll management has gradually transitioned into a digital platform. In fact, many companies have adopted a completely digitalized payroll system with multiple features and integrated this with other operations of their business. Automation makes things easier for the payroll staff. Payroll Policy.

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Want a Career in Human Resources? Your In-Depth (2023) Guide

Analytics in HR

HR must ensure they receive the correct pay and benefits, such as health insurance, retirement plans, wellness programs, and leave credits. HR also manages payroll and prepares and documents HR policies and procedures. In benefits and payroll, HR must be diligent with deadlines to ensure employees receive their salaries on time.

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2023 FSA, HSA, Retirement Plan Contribution Limits

HRWatchdog

It’s that time again — the Internal Revenue Service (IRS) has released the 2023 annual inflation adjustments for health flexible spending arrangements (FSAs) and health savings accounts (HSAs), as well as the 2023 retirement plan contribution limits. Retirement Plan Contributions. This is an increase of $40 from 2022.

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2024 HSA, FSA, Retirement Plan Contribution Limits Announced

HRWatchdog

In addition to all the new 2024 employment laws , employers should be aware that the Internal Revenue Service (IRS) has released the 2024 annual inflation adjustments for certain health and retirement benefits. The post 2024 HSA, FSA, Retirement Plan Contribution Limits Announced appeared first on HRWatchdog by Katie Culliton.

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Top 6 ADP alternatives & competitors (in-depth comparison)

Homebase

That way you can find an HR and payroll platform that ticks all your boxes. All user feedback referenced in the text has been sourced from independent software review platforms, such as G2 and Capterra, in May 2023. Here’s a list of the features a good payroll and HR software should provide.

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Employees are saving more for retirement. What HR is doing right

HRExecutive

Advertisement - According to the financial services titan, 401(k) balances rose 4% in the second quarter of 2023 over the previous three months to an average of $112,400, while 403(b)—a tax-sheltered annuity plan—balances rose 5% to an average $102,400 in the same period. Meanwhile, the average IRA balance jumped 5% to $113,800.

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What Brokers Can Be Thankful For This Year

Extensis

Per SHRM’s 2022-2023 State of the Workplace Report , human resources (HR) professionals claim that increasing mental health benefits is a priority, as is improving cost efficiency. ExtensisHR does all that and more with its: Breadth of HR services , including payroll and tax administration , HR road mapping, and dedicated HR guidance.