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Employee Benefits Enrollment Software: Boost 2021 ROI


Does your HR toolkit contain employee benefits enrollment software? If not, you aren’t getting the benefits of your benefits. You choose benefits packages carefully because you want to attract high performers. Increased employee turnover.

Top 5 Advantages of Employee Benefits Software


When it comes to administering employee benefits , though, the pros are pretty clear. From keeping up to date on compliance changes to saving time, there are some pretty striking reasons why it makes sense to use third-party benefits software. Many employees prefer it.


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The Best Way to Process Payroll [Updated for 2020]


Or you own an existing one that is moving into the realm of employees. Payroll is one of the most important processes to handle correctly. Learn to Process Payroll Efficiently and Legally. We’ve created a comprehensive 5-part payroll processing guide to help you.

Data Validation! Gaze before you leap | Pre-Payroll Activities

Keka HR Blog

As an extremely high-volume business activity, payroll is a department where delays, corrections, and reprocessing incidents are all too common, however risky to encounter. Payroll is straightaway related to the compensation of all the employees of an organization.

6 Ways to Decrease Rising Employee Benefits Costs


In a 2021 Kaiser Family Foundation survey , “nearly 90% of large employers surveyed believe the cost of providing health benefits to employees will become unsustainable in the next five-to-10 years, and 85% expect the government will be required to intervene to provide coverage and contain costs.”

Consequences of Outdated Employee Benefits Systems


Technology is making remarkable strides across the employee benefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benefits administration is regarded as the most complex HR process.

4 tips for managing payroll accurately


The recent American Payroll Association “Getting Paid In America ” survey revealed that 92 % of American employees are confident that their paychecks are accurate every pay period. Are your employees’ paychecks consistently accurate? This is essential in building employee trust, credibility, and ultimately, loyalty to the company. Payroll mistakes can lead to complex issues beyond employee compensation and can be very costly for your company.

How to Process Payroll


The best way to process payroll is to not process payroll. Your HR & Payroll provider should do that for you. The truth is payroll is too time intensive and complicated (especially if your business has locations in more than one state). Employee addresses.

Choosing the Best Employee Benefits Technology Provider: A Checklist


You know the consequences of outdated employee benefits systems , and are ready to invest in modern technology. But with so many benefits administration technology vendors out there, how do you choose the right one? Assess your benefits technology needs.

The Onboarding Documents You Need to Collect and Keep


In fact, you may collect employee documents during onboarding and throughout the employment period. As the employer, it is your responsibility to keep employee records safe. Improper storage or sharing of employee data will put you on the wrong side of the law, even if it’s accidental. If you fail to comply with employee data regulations, you and your organization could be subject to fines, penalties, litigation, and more. What Is Employee Data?

10 Reasons to Switch to Paperless Payroll


From time tracking to payroll, nearly any business service can now be self-managed completely online. The benefits of going paperless in managing your company payroll are many – here are ten: Document storage : Paperless payroll stores all of your employee payroll data in one easy-to-access place. Payroll records never need to be physically retained (get out your paper shredder!), Employee benefits : Who wants to deal with paper pay stubs?

Tips to help you streamline HR tasks


Right now, for example, you may be wrapping up open enrollment , ensuing all employees have enrolled in – or waived – coverage. It’s best to streamline payroll and other key HR processes, to achieve optimal levels of efficiency and staff productivity.

How to Assemble an Ideal Compliance Team

CIC Plus

We’re sharing some tips with you on how to assemble the right compliance team as your company grows. Have you had compliance issues in the past? Is employee turnover high in your industry? Do employees know what’s expected of them in the workplace? Is training new employees an issue? Is there an open channel to HR for employees to ask questions? As you can see, assembling the right compliance team depends on asking the right questions. .

How to Assemble an Ideal Compliance Team

CIC Plus

We’re sharing some tips with you on how to assemble the right compliance team as your company grows. Have you had compliance issues in the past? Is employee turnover high in your industry? Do employees know what’s expected of them in the workplace? Is training new employees an issue? Is there an open channel to HR for employees to ask questions? As you can see, assembling the right compliance team depends on asking the right questions. .

How HR Automation Can Help With Benefits Compliance


Benefits compliance means adhering to the federal, state, and local laws your mandatory and voluntary benefits are subject to. These agencies may assess penalties on employers whose benefit plans are out of compliance. Trying to run payroll.

How Does Payroll Processing Work?


Processing payroll is one of the most important, but time-consuming and frustrating tasks businesses face. Ensuring accurate and timely payroll requires attention to detail and careful record-keeping, and it’s one of the top reasons why companies rely on a payroll partner who has the experience to handle complex regulations. Here’s what’s included: Step 1 – Employee Information Gathering. Retirement plan documents. Step 2 – Employee Timekeeping.

What is Payroll? A Guide to the Modern Payroll System.


A good payroll system is comprised of many components– but at its core, what is payroll? Payroll refers to a company’s roster of employees and the total wages they are to be paid. There’s a lot to keep track of, which is why we’ve put together this article to help you understand the ins and outs of payroll. . What is Payroll Tax? Employee Type. You’re required to keep all records of an employee’s pay history for at least three years.

4 steps toward making equal pay a reality at your company


wage gap, but provided you have executive-level support, you can develop an equal pay plan that compensates employees of all genders equally and without damaging the company’s bottom line. To provide a genuinely beneficial policy – and avoid running into compliance violations in the future – all of the above must be considered when crafting a strategy for equal pay. Solving the gender gap in employee pay isn’t simple, but it is possible.

The Payroll Setup Checklist: everything you need to know to get started


Between browsing different platforms, managing your employee data, and conducting the appropriate research, the process of switching payroll services or starting a new one has a lot of moving parts. Is this what’s best for my employees? To get started on a new payroll system, there are a few pieces of information you’ll need to have ready– here’s our payroll setup checklist. The Ultimate Payroll Setup Checklist: Federal Tax Information.

What Real Users Love About Their Payroll Department Tools


Payroll departments handle the compensation for all employees, ensuring that they are paid on time and that the correct deductions are withheld. Payroll software lets a payroll department simply enter employees’ hours and wages so the calculations, payments and tax filings can be performed automatically. But what are the features that payroll departments value most in their payroll software? Top-Rated Features for Payroll Department Tools.

9 FMLA record keeping requirements employers need to know

HR Morning

When an employee goes on FMLA leave, it can pay to double-check that your FMLA record keeping processes are up to snuff, should your FMLA administration/processes ever be called into question. . That way, if there’s ever a dispute, you’ll be able to produce the required documentation — not to mention stay in compliance with federal laws. The records must contain basic payroll and other data detailing the employee’s compensation.

ERISA Record Retention Requirements In Plain English


The Employee Retirement Income Security Act of 1974 requires that you retain important plan documentation. ERISA requires you to retain plan documents and employee benefit plan information for a few good reasons: Being Ready for Audits. This is the main reason for retaining plan documents. Audits require a ton of documentation to prove the plan has been responsibly managed and kept in compliance. Fiduciary Plan Documents. Compliance.

Attract And Manage Top Talent In Your Small Business


For a small business owner, attracting and managing these vital employees can be a source of high anxiety. In today’s high-tech world, technology can help you save time and money with recruitment, HR management, and compliance, so you can focus your efforts on empowering your team and growing your business. Stand out with your benefit offerings. Implement a bonus structure in addition to annual compensation to attract and incentive your employees.

Missing Participants Errors Now Top DOL, IRS Audit Focus, Nudging Out Late Payroll Deposits, Winston & Strawn Says

HR Daily Advisor

Two employee benefits lawyers from law firm Winston & Strawn LLP, in an August 7 webinar for retirement plan practitioners titled “IRS and DOL Audit Issues for Retirement Plans: How Plan Sponsors Can Improve Internal Controls,” ranked the top 22 most significant issues employers should zero in on to ensure they maintain proper oversight of plan compliance. DOL) Employee Retirement Income Security Act (ERISA) fidelity bonds. Employee eligibility.

An Internal Plan Audit Team Essential for Anticipating Changes

HR Daily Advisor

This includes complying with the Internal Revenue Code, the Employee Retirement Income Security Act (ERISA), and the regulations under both. In addition, employer-initiated plan design changes and corporate transactions, such as mergers, acquisitions, and spin-offs, also create a need to conduct plan document and procedural reviews to ensure compliance. This column takes a look at best practices and benefits of establishing an internal plan audit team.

How Long You Should Keep Business Records For


Time and day of week when employee’s workweek begins. Basis on which employee’s wages are paid (e.g., “$9 per hour”, “$440 a week”, “piecework”). All additions to or deductions from the employee’s wages. This information should be marked with the employee’s personal information, including name, social security number, address, birth date (if younger than 19), occupation , and sex. . Payroll Records.

Form 5500 Instructions: 5 Steps to Filing Correctly


When it comes to employee benefit plans, the government requires punctuality. Offering pension benefits and other employee benefit plans is a noble thing to do. But there’s a lot that can go wrong with benefits, and these mistakes can cost a company a lot of money to fix. You see, when you sign Form 5500, you’re taking personal liability for the plan’s compliance. …Have a pension benefit plan? 401k Administration 401k Plan Documents

Mastering Tough FMLA Issues: Effectively Managing FMLA Investigations by the DOL

HR Daily Advisor

In the last installment , we focused on employees who do not have job restoration rights once they return from leave. Applewhaite announced that the DOL’s more aggressive stance in conducting on-site investigations of employers’ facilities would include a renewed emphasis on recordkeeping compliance, “systemic” violations, and supervisors’ accountability in administering FMLA situations on the front lines. Even employers with no FMLA-covered employees must keep these records.).

How to Improve Your Onboarding Process (COVID & Remote Work Issues for 2021)


Then update their employee onboarding checklists and employee handbooks accordingly. Benefits. Compliance. If you have a hybrid workforce, you will need an onboarding checklist specifically for new employees in remote positions. Benefits. Compliance.

How to avoid common mistakes with EEOC complaints


Your EEO or anti-discrimination policy should be written down in your company’s employee handbook. During the onboarding process, new hires should acknowledge receiving and reading the policy – with their signature – so it’s provable that each employee is aware of the policy.

Tipping the Scales from Prevention to Detection: Get Ready for an IRS Examination of Your Plan

HR Daily Advisor

It takes the collective effort of specialists, both plan sponsor personnel and dedicated specialists such as the third-party administrator; the plan’s financial statement auditor; the investment adviser; and the plan’s Employee Retirement Income Security Act (ERISA) attorney, as applicable. Does the census include all employees, including those who are not yet eligible or who chose not to participate? Do the gross wages provided in the census reconcile to the total gross payroll?

What to Include in an Employee Handbook

Patriot Software

As your small business grows, you will need a strong employee handbook to set expectations for employees. Knowing what to include in an employee handbook can help you better enforce your business’s rules and policies. What should you include in an employee handbook? Creating an employee handbook, or employee manual, allows you to reinforce workplace policies and employee guidelines. Spell out what you expect from employees. Benefits policy.

Make Your HRIS Work for You!


Many companies turn to an HRIS for a couple of fundamental reasons – they need a place to store their employee information and a way to process payroll. However, there are many other ways that you can make your HRIS work for you, and provide strategic value to both the employee and employer. Systems can provide a location/field for an employee or employer to upload their educational data, including level of education and degrees obtained.

HRMS (Human Resources Management System)


Core HR: HR documents, PTO , payroll integration, benefits. Employee self-service. HRMS allow employees to complete Human Resources transactions on their own. Employees can immediately get answers to their HR questions in the portal. Manage employee benefits.

6 common PEO myths debunked


payment of wages and payroll processing). developing an employee handbook or healthcare benefits administration). By outsourcing time-consuming administrative and compliance tasks to a reliable co-employer, your in-house HR professionals may become more valuable to you.