How Should a Company Select Their Benefit Plan?
Prioritize your employees’ needs, your company’s values and a realistic budget when selecting the right benefits package. Key takeaways: Why is benefit plan selection so important? The majority of employees would rather have better benefits than an increase in pay. A better benefit plan helps you satisfy employees, attract top talent and retain your workforce. Tips for benefit plan selection: Consider…
Why Outsource to a PEO During a Recession?
PEOs help organizations with a range of compliance and HR tasks that increase cost-efficiency and support employees through times of uncertainty. Key takeaways: Reasons to outsource to a PEO in a recession: Obtain business scalability Reduce turnover Improve cost-efficiency Get help with compliance and policy changes Improve communication Prioritize business continuity Some experts say that the U.S. may have entered into…
7 Basic HR Metrics You Need to Track
Are you tracking key HR metrics? Gathering insights like employee turnover, satisfaction and retention rates helps you uncover areas that need additional support. Key takeaways: Track HR metrics to measure effectiveness, improve ROI and improve employee support Seven metrics to track: Turnover rate Employee satisfaction Absence rate Benefits participation rate Cost per hire Client retention rate Client satisfaction rate Gathering…
Payroll Tax Responsibilities for Employers
What are your payroll tax responsibilities and how do you figure out what to withhold? Learn federal requirements and how unemployment taxes vary by state. Key takeaways: Taxes you need to pay or withhold as an employer: FICA, FUTA and SUTA. Every employee you hire needs to have a Form W-4 and Form I-9 on file, as well as direct…
The History of the PEO Industry
Professional Employer Organizations or PEOs first started to emerge in the 1960s and 1970s, though they looked a bit different than today. Here’s what you need to know about PEO history. Key takeaways: What is a PEO? PEOs help small and mid-sized businesses with HR solutions, and they enter into a co-employment arrangement to take on some of the risks. When…
How Do Health Insurance Renewals Work?
Every year, employers have to renew their health packages, and premium rates will change based on insurance carrier assessments. Key takeaways: What causes increases in insurance rates? Factors like health crises (COVID-19), inflation rates and the economic climate impact fluctuating premiums How do insurance carriers assess percentage increases? The carrier determines the percentage based on performance factors like utilization and participation. How…
Your Guide to OSHA Safety Trainings
Employers need to know the requirements under OSHA for keeping employees safe from illness or injury at work Key takeaways: Who needs to give OSHA trainings? Certain employers are exempt but most private sector companies need to understand their OSHA requirements. Construction, agriculture and maritime industries have specific guidelines. Types of OSHA trainings: OSHA provides free outreach trainings and certifications that cover…
Should You Offer Legal Insurance Benefits?
Legal insurance works similarly to health and auto insurance, where you pay a premium for coverage. Here are all the benefits of offering this perk to employees. Key takeaways: What is legal insurance? Employees pay a premium for legal insurance and use the coverage for any legal issue that may arise in the future, like family law issues, real estate transactions,…
My Employee Is Toxic… What Can I Do?
Toxic employees are dangerous to the workplace culture and your company as a whole. How do you know when someone is toxic, and what can you do? Key takeaways: Warning signs someone is toxic: Complaints against them Frequently angry at work Inappropriate comments Not getting their work done Not following policies Lying or avoiding blame What can you do? Here are…
How Does Offering Key Benefits Help You Recruit Better Talent?
Improving your benefits package helps you stay competitive in a tense job market. Here is how recruiting success is related to benefits and the top three perks employees want. Key takeaways: Do benefits impact recruitment? When candidates are looking for their next employer, they often care about benefits and work-life balance more than salary. Top benefits for attracting better talent: 401(k)…