Employee Benefits Enrollment Software: Boost 2021 ROI

SwipeClock

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.

Understanding Payroll Deductions and Employee Benefits Taxes

Get Hppy

Employers have the responsibility to accurately calculate payroll deductions and pay employee benefits taxes. To ensure your business runs smoothly keeping your employees happy is one of the most important things to keep on top of. Payroll Deductions. There are some payroll deductions that are completely necessary and you must calculate them correctly. To help you to calculate your deductions you can use this payroll deductions online calculator.

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Top 10 Employee Benefits for 2021

Best Money Moves

Top 10 employee benefits for 2021. HR trends forecast the most desired employee benefits for 2021 like financial wellness programs and flexible work arrangements. It’s time for employers to start planning their employee benefits packages for 2021. The coronavirus pandemic has presented significant challenges for employers and highlighted the unprecedented levels of stress employees face in their everyday lives. Top 10 Employee Benefits for 2021. #1

16+ types of employee benefits you should consider

Genesis HR Solutions

For many small businesses, the struggle to compete with larger companies for talent is an uphill battle—particularly when it comes to benefit offerings. 16+ types of employee benefits you should consider. HSA funds roll over year to year if employees don’t spend them.

3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers - Recruiting

“I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance. Naturally, most businesses can’t afford the king suite of benefits—unlimited PTO, free insurance, etc. My employees have been around for years.

Flimp Communications Launches BENEFITchoice, Personalized Employee Benefits-Assessment Tool

Flimp Communications

Helps employees prioritize and assess voluntary and supplemental benefits offered by their employer. In a year when benefit fairs are canceled, a digital solution like BENEFITchoice supplemented with educational videos, can help employees choose the best benefits to meet their needs.

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Understanding the Basics of Payroll, Compensation and Employee Benefits

StarGarden

Payroll, Compensation and Employee Benefits are among the foundational building blocks within an organization to support your human resources - the people that work for you. Benefits Benefits;/Payroll Compensation /HCM HR data PayrollEffective and efficient management of those functional areas can be significantly improved, or compromised, depending upon the company’s level of understanding of those functions.

5 Payroll Management Tools Every HR Needs

HR Digest

For any business, a handy and adequate Payroll software application is a must-have. These payroll apps not only consolidate the multiple payment processes required into one platform but also offer numerous tools for economic and precise payroll functions.

What Is a Waiting Period for Employee Benefits (Like Health Insurance)?

Patriot Software

If you provide company-sponsored benefits to employees, you might decide to set a waiting period. Read on to learn what is an employee waiting period, rules for setting the time frame, and how to implement one in your small business. Payroll

Employee Benefits and Compensation: Navigating Open Enrollment

Employee Communications Council

Open Enrollment is in full swing and if you’re a small business owner with the ability to offer employees benefits and compensation packages, you’re probably already hearing all about it. Your employees are making the best decisions they can right now to make sure they’re enrolled in health insurance plans that make sense for them. Here are some things to keep in mind as your employees sign up for health insurance : Digital Resources Work.

7 Reasons You Need a PEO vs. Payroll Services

Stratus

Nine times out of 10, when I’m first talking to someone about their company’s needs, they jump right to payroll. It makes sense since payroll is a critical piece to employment and subsequently the number one service outsourced by small businesses. Here’s why: PEOs offer affordable employee benefit plans. Come for the payroll, stay for the stellar benefits ! PEOs administer employee benefits, too. PEOs do all of this AND payroll.

Employee Benefits: Long-Term Beats Short-Term

TalentCulture

Employers who want to slow workplace erosion need to invest in meaningful benefits with long-game implications. Rather than focus solely on culture as a replacement for rewards, why not add significant long-term incentives to let employees know you’re serious if they’re serious? Businesses have a habit of focusing on the here and now with their benefits: paid time off, vacation days, medical and dental. Opt for Benefits That Promote a Sticky Workplace.

Top 4 Employee Benefit Categories That Matter Most to Employees

Zenefits

Winning the quest for top talent requires a strategy that appeals to the needs and wants of job seekers and employees. Overall compensation packages must include salaries and benefits that attract and retain the best workers your company can afford. Financial benefits.

The True Cost of Employee Benefits Packages

Zenefits

The decision to bring on a new employee is not one that should be taken lightly, as each new team member affects the culture of your small business as well as your financials. The national average of employee benefits cost. Fluctuating benefits status.

What Are the 4 Major Types of Employee Benefits?

Zenefits

In the war on acquiring and retaining talent, the most generous benefits package a company can provide typically tips the scales in your favor. Workers are looking for the best starting wage they can leverage, but benefits and perks are as much a part of the equation as dollars.

Healthjoy Raises $30 Million to Give Employees Benefits Guidance via Chatbot and Announces new EAP

LAROCQUE

Healthjoy just raised $30 million for its employee benefits chatbot. Benefits tech was one of the top three global HR tech categories for VC in 2019 right behind job boards and payroll. Employers look to benefits as a key contributor to the overall employee experience, yet most employees are overwhelmed by the decisions made in […]. Benefits HR VC Deals benefits hcm venture capital

How to Process Payroll

Paycor

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.

The Future of Payroll: 7 Trends to Watch

CakeHR

In most cases, the penalties are for payroll errors. This is why finding a way to optimize the payroll process and reduce any mistakes is essential. Staying on the cutting edge of payroll technology and trends is the best way for a business owner to discover the right way to handle this essential part of their business. employees – or 54% of the American workforce – are affected by payroll problems. Are you curious about the future of payroll?

How to Be More Efficient At Your Payroll Job

HR Digest

Payroll job refers to the administration of employees’ financial records including salaries, wages, bonuses, deductions, and net pay. Payroll job can be a daunting process, especially for those small businesses managers that may decide to complete the task in-house. Companies are always looking for ways to streamline this responsibility to make it easier for payroll officers. Always verify your payroll to make sure it complies with the updated tax laws.

3 Ways to Better Manage Employee Benefits

Namely

As a benefits professional, I frequently stumble across industry studies and insights that emphasize the critical role of employee benefits in the workplace. Whether the suggested strategies center on offering more affordable benefits or more variety, they all lead back to the overall impact of employee benefits on recruiting, retention, and satisfaction. And yes, they need a system to make benefits management easy. Benefits

The Rise of Telemedicine in Your Employee Benefits Package

Netchex HR Blog

Coronavirus and Beyond: The Rise of Telemedicine in Your Employee Benefits Package. This has even extended to the doctor’s office thanks to telemedicine—which has actually been an option for employee benefits packages for quite a while now, but has only seen a huge spike in participation recently. . Raising awareness with employees. Your remote employees are probably reading a lot of emails, so make sure to communicate the most important information clearly.

Why You Should be Integrating Payroll with Your HRMS

InfinityHR

The management of workforce payroll is not easy to do if you’ve outsourced it entirely, or if you’re using a separate system apart from your Human Resources Management System (HRMS). that payroll is made up of includes data from employee benefit selections, time and attendance history, bonuses earned from performance management and more. If you’re not integrating payroll with your HRMS, then your business may be at risk to be within non-compliance of U.S.

Tips for Marketing Voluntary Employee Benefits to Your Clients

InfinityHR

The truth is, employees today want more than what employment opportunities have traditionally offered in the past. Those who want to stay ahead of the game have chosen to use voluntary employee benefits as an incentive, with profoundly successful results. Marketing voluntary employee benefits. Marketing voluntary benefits gives companies an extra “wow” factor in the eyes of applicants. Employees are not the only ones to gain from voluntary benefits.

Use October to jump-start your year-end payroll processes

Business Management Daily

However, you can count on this: Complete these early year-end payroll tasks now and you can still have a sweet Halloween. Have employees confirm their addresses and Social Security numbers. If your payroll system masks SSNs, unmask them so employees can confirm them. Check W-2, Box 14 entries for employees who took pandemic-related sick/ family leave. Inquire whether other departments will need year-end reports from Payroll. Schedule bonus payrolls.

Student Loan Repayment 101: The Lowdown on 2020’s Hottest Employee Benefit

PlanSource

Chances are, you’ve probably heard about student loan repayment as an employee benefit. Many large employers have rolled this handy financial wellness perk into compensation packages as a way to attract and retain talent (notably, millennials) and provide better financial wellness support to employees across the board. . While innovative, student loan debt repayment as an employee benefit might not make sense for every employer.

PeopleStrategy Partners with FinFit to Bring Financial Wellness to Small and Mid-Sized Employers

PeopleStrategy

July 16, 2020 /PRNewswire/ — FinFit, a FinTech company that provides over 150,000 employers with a unique financial wellness benefit platform, today announced a partnership with PeopleStrategy, Inc. ®, a full-service brokerage and provider of comprehensive, cloud-based human resource (HR) solutions. Our goal is to improve employees’ financial well-being, and employers can play a critical role by offering necessary services to the workforce.” EDISON, N.J.,

5 Key Elements to Look for in a Payroll Platform

Hireology

Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. . Not only can the right payroll platform help your team stay organized, but from an employee engagement perspective, it can help make the transition from candidate to new hire seamless. .

5 Key Elements to Look for in a Payroll Platform

Hireology

Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. . Not only can the right payroll platform help your team stay organized, but from an employee engagement perspective, it can help make the transition from candidate to new hire seamless. .

The Top Payroll Companies in Massachusetts

Genesis HR Solutions

Looking into payroll companies in Massachusetts? But is a payroll company really all the help you need? Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. Top Payroll Companies in Massachusetts: A Quick Search. East Coast Payroll. Granite Payroll. Complete Payroll Solutions. On Time Payroll.

Payroll Management : Remain Statutory Compliant & Avoid Last Minute Payroll Hassles

Empxtrack

Payroll management is time-consuming and complex and requires full business confidentiality. Managing employee data, answering queries, preparing reports and looking into payroll processing, all often at the same time, becomes overwhelming and stressful for the HR department. What are some common issues in payroll processing? Incorrect payroll calculations lead to additional work, inconvenience, and penalties. Provide automatic payroll updates.

The Best Way to Process Payroll [Updated for 2020]

SwipeClock

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. How Payroll Processing Works. Best Practices For Processing Payroll. How To Avoid The Top 6 Payroll Mistakes. What To Do If You Can’t Make Payroll. Employee Timekeeping.

Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Employees paid biweekly are paid 26 times a year. Employees paid weekly experience an extra pay period every five or six years. No federal or state agency requires you to adjust employees’ pay for the extra pay period. Although most companies choose this option, it may be a costly decision, since employees will receive an extra paycheck, along with extra taxes withheld and extra benefits provided. If you choose not to adjust, employees could be underwithheld.

Free Payroll Tools for Your Small Business

Zenefits

Payroll is the biggest operating expense for most employers, often representing nearly 70% of a company’s total costs. But as a small employer, it’s important to think expansively when it comes to payroll savings, as every source counts — especially during times of economic instability.

Why putting employee benefits online is as easy as A, B, C (and D)

cipHR

Organisations can shy away from taking their employee benefits digital because of time and money constraints. But, says PES’s Andrew Drake, there’s no excuse for not bringing employee benefits into the 21st century. Every HR or reward professional I meet recognises the advantages of adopting technology for their employee benefits scheme. Happy, engaged employees. Rome wasn’t built in a day – and the same is true of benefits technology.

Paycor Announces Partnership with Web Benefits Design to Intelligently Integrate Employee Benefits Administration and Payroll Processing

Paycor

Integration Allows HR Leaders to Simplify Payroll and HR Administration with All-in-One Solution. 6, 2017 — Human Capital Management company Paycor today announced an integration with Web Benefits Design, a leading national benefits technology, communication and administration firm. The result is an easy-to-use, full-service solution that delivers immediate and secure access to payroll, HR administration, time-tracking, reporting and benefits information.

What Is Imputed Income? | Payroll Definition and Examples

Patriot Software

Imputed income is adding value to cash or non-cash employee compensation to accurately withhold employment and income taxes. Basically, imputed income is the value of any benefits or services provided to an employee. Imputed income typically includes fringe benefits. Employers must add imputed income to an employee’s gross wages to accurately withhold employment taxes. Do not include imputed income in an employee’s net pay. Employee discounts.

How Magnetic Simplified Employee Benefits and Saved Money with Namely

Namely

Every mid-size company reaches a certain number of employees where they can’t help but have HR on the brain—nailing employee benefits strategy, improving payroll process, and better managing the performance of each employee. But imagine the pressure of those initiatives now doubled : two companies coming together with two separate payroll systems, two separate benefits strategies, and two employee populations now performing together.

Let the benefits renewal process begin

PeopleStrategy

With the unanticipated challenges facing HR professionals today, starting the employee benefits renewal process is probably not at the top of the to do list. But the reality is, deciding what benefits you will offer employees for the 2021 plan year is perhaps more critical than ever. Here are a few key benefits renewal steps to keep in mind as you start this journey. Evaluate your current benefits package.

PeopleStrategy and Peanut Butter Partner to Bring Student Loan Assistance Programs to SMB Employers

PeopleStrategy

June 4, 2020 /PRNewswire/ — PeopleStrategy, Inc.® , a full-service brokerage and provider of comprehensive, cloud-based human resource (HR) solutions, and Peanut Butter , a leading provider of student loan assistance in the form of resources and repayment plans, have partnered to provide small and medium-sized employers with one of the top benefits college-educated talent wants. In 2019, more than 76% of employees cited student debt as the leading cause of their financial worries.

4 tips for managing payroll accurately

Sage HRMS

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.