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In the fall of 2019, I toured the Office of Personnel Management’s (OPM) Retirement Operations Center—known as the “ROC”—located 220 feet underground in a former limestone mine north of Pittsburgh, Pennsylvania. All new retirement applications must be submitted electronically. There were no issues.
Thats where voluntary retirement programs can offer an alternative. But how do voluntary retirement and layoffs really differ, and when should HR consider one over the other? In this article, well discuss the difference between voluntary retirement and layoffs, exploring their key elements and implications in detail.
It outlines all the financial and employer-paid benefits an employee receives, including bonuses, incentives, retirement contributions, health insurance, paid time off , and other perks like wellness programs or tuition reimbursement. If you offer any of these types of leave , showcase that in your template.
A voluntary retirement program can be a great way to help older workers comfortably exit your organization while negating the need for workforce reduction events such as layoffs. Like most programs, it begins with your voluntary retirement program announcement letter. What Is a Voluntary Retirement Program Announcement Letter?
Whether you’re concerned about adapting to new pay transparency laws, managing global benefits packages, return-to-office mandates, or 401(k) and retirement planning strategies, we’ve got you covered.
You may also download the entire report using the button below. Download Complete Report Human resource (HR) trends evolve rapidly, and brokers must stay ahead of the curve to provide the most relevant and impactful solutions to their clients. Are you prepared to guide your clients through emerging HR developments?
Managing Benefits More Effectively Administering employee benefits—whether health insurance, retirement plans, or wellness programs—requires careful coordination between HR, finance, and external providers. The integration also supports better workforce planning, allowing managers to align schedules with staffing needs and labor costs.
Besides technological advances, skilled workers are retiring in large numbers, and there aren’t enough qualified workers to replace them. A skills gap analysis template comes in very handy in this regard, so don’t wait to download ours for free. That number has shrunk to just four years. It is worth the effort.
Organizations need to be prepared for any massive shifts in employee skills, characteristics, or large exits like the retirement of baby boomer employees. If you need additional guidance on the workforce planning process for your organization, you can also click below to download our free comprehensive Careerminds workforce planning guide.
Dive into the latest magazine issue and discover how flexibility, equity, recognition and strategically applied resources can improve your total rewards package.
Download our Comparison Sheet See how we compare to other outplacement providers. Download 4. Many clients are worried that there aren’t jobs available out there, but there are always job openings because employees are retiring from positions, moving to new positions, creating new positions, etc.
How do you create an employee experience where every employee, from newly hired to retired, buys in and works towards shared goals and achieves fulfillment? Download The Insperity guide to employee engagement to learn more. The post Redefining employee experience: What’s changed and why it matters appeared first on Insperity.
Workers can easily: View and download their pay stubs, tax forms (e.g., Digital HR can significantly improve the employee experience, for example, by enabling employee self-service.
Setting Goals for an Employee Satisfaction Survey Measuring Employee Satisfaction Topics to Cover in an Employee Satisfaction Survey Analyzing and Acting on the Results Download Your Free Employee Satisfaction Survey Template What Is Employee Satisfaction? Download Your Free Employee Satisfaction Survey Template!
For deeper insights backed by industry leaders, be sure to download the ExtensisHR 2025 HR Trends Report here. While much emphasis has been on building retirement savings, there is now a focus on decumulationhelping retirees manage their savings as they withdraw funds in retirement.
While the latter are transitioning into retirement and reflecting on their legacy, the former shaped the modern workplace as the largest working generationuntil recently. McKinseys survey revealed that nearly a quarter of Gen Z respondents (23%) do not expect to retire, and only 41% expect to own a home.
Contribute to Retirement Accounts Contributions to traditional IRAs or employer-sponsored retirement plans , like a 401(k), can reduce your taxable income in the year of your contribution. Tip: If your employer offers 401(k) or other retirement contribution matching, be sure to take advantage.
Download the whitepaper to deep dive. HR Processes : Expert input into strategy, policies, and future-proof HR models. The post From cost center to value driver: Transforming HR with HR as a Service appeared first on Zalaris.
Download the whitepaper to deep dive. HR Processes : Expert input into strategy, policies, and future-proof HR models. The post Elevating human resources: A strategic approach to HR as a Service appeared first on Zalaris.
Step 2: Consider Alternatives Options Furloughs or extended leaves Temporary layoffs Temporary or permanent pay reductions Reduced hours of paid work Hiring freezes Voluntary time off Voluntary layoffs Voluntary or early retirement Step 3: Outline Your RIF Plan Document the high-level business reasons for why a RIF is necessary.
By providing a customized summary that included detailed information on health insurance, retirement contributions, and wellness programs, we saw a marked increase in employee engagement and utilization of benefits. Urge employees to download the company benefits app and activate notifications so they never miss an important update.
All you have to do is download, add your personal touch, and hit send. The post Built for HR Teams: Open Enrollment Communication Templates to Use Now appeared first on Jellyvision.
Voluntary departure : When the employee leaves employment on their own accord for reasons such as early retirement or exit incentive plans. Download the Essential Guide to Handling a Layoff Considerately transition your employees with these best practices Download Common Mistakes to Avoid in Employee Severance Agreements Over 40 1.
Younger workers may seek mentorship and growth opportunities, while older employees may focus on stability and retirement plans. Download Why Are Stereotypes a Main Challenge in Managing a Multigenerational Workforce? Download The post Your Guide to Managing a Multigenerational Workforce appeared first on Careerminds.
10 trending employee benefits to consider for your organization in 2025 While the term employer benefits most often brings to mind things like medical insurance, retirement savings, and paid time off, there are so many more perks that you can offer your employee base. Download now Talogy - Talogy Website
Before we dig into the logistics of having a reduction in work hours, make sure to download our sample letter to announce your reduction to employees. You will also want to state whether or not these reduced hours will change the employees overall tenure at an organization (as this could impact retirement).
Including a salary range and details about benefits (health insurance, PTO, retirement plans, professional development opportunities, bonuses etc.) If there is an expectation that training for the first 3-6 months is required in person before transitioning to a hybrid or remote position, let the applicants know this ahead of time.
Benefits administration Actively manage and update your benefits programs, which may include health insurance, retirement accounts, vacation and paid time off, disability and life insurance, and more. Instead of an online platform, Kissflow houses its features in a downloadable app that automates various HR needs.
The influx of a retiring telecom workforce only makes the need for experienced talent tighter. In an industry experiencing an increase in retiring workers, it is critical to stay laser-focused on who will lead telecom organizations to the future. Download Telecom Case Study Here!
Download our 10-step guide for greater employee engagement! Offering resources such as financial planning workshops, retirement planning assistance, and budgeting tools can help employees manage their finances more effectively. These resources can include budgeting tools, retirement calculators, and educational materials.
Emphasize wellness in benefits offerings Most standard benefits packages include things like health insurance, a 401(k) retirement plan and PTO. Increase company contributions to retirement plans. For more information on how to improve employee wellness, download The Insperity guide to offering irresistible employee benefits.
It also includes a free downloadable template to help you get started. The template is usually divided into various sections or tabs, including financial (or direct) compensation, benefits, retirement planning, and other benefits (e.g., Contents What is a compensation plan? What is a compensation plan template?
This includes: Retirement account (401(k)) Health insurance (along with dental and vision insurance) Paid time off (PTO) Life insurance Disability insurance But benefits that would’ve been less common a few years ago have skyrocketed in popularity with employees.
Resignation or retirement When an employee resigns or retires, the transition plan should prioritize knowledge transfer and continuity of operations. Free employee transition plan template Download our free employee transition plan template to simplify and standardize your handover process.
reach retirement age? You can download our free 9 box grid template. Next to many other conversational and information retrieval capabilities, this virtual assistant enables employees nearing retirement or transitioning to document and share their vital insights by uploading key documents and knowledge.
This includes reviewing health insurance plans, retirement savings options , and any other perks provided to employees. Download our comprehensive compliance checklist and calendar to keep your company protected and your employees informed. Stay ahead of compliance challenges in 2025!
Discretionary benefits, which are not legally mandated, can include offerings like health insurance, paid time off, retirement plans, and wellness programs. Download What Are Discretionary Benefits? Click below to download our sample PTO policy and ensure your workforce is more engaged and productive!
Compensation and benefits : Examine salaries, bonuses, equity plans, and employee benefits like health and retirement plans. HR due diligence checklist Carrying out HR due diligence is a hefty task, but using this downloadable checklist makes it easier.
And for you, this translates to empathetically and effectively communicating your benefits package so they have the information they need to make truly personalized choices that align with their lifestyle—be it managing a chronic condition, planning for a family, or navigating retirement planning. Document it to improve for next year.
Whether you’re just starting your career, in the midst of your financial journey, or nearing retirement, understanding where every dollar comes from and how to manage it is crucial for long-term financial wellness. If you’re not participating and you’re able, you might also want to add a deduction for retirement accounts.
Download for free Benefit from tracking and comparing employee engagement benchmark data Employee engagement data analytics can offer a comprehensive view of historical trend data and how engagement rates have improved, stagnated, or worsened over time. 5 highly engaging email templates More opens, clicks, and conversations at your company.
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