On this month’s HR podcast Rob, Scott, and Jason cover the HR side of inflation. They discuss current stats, today’s cost of doing business, high turnover, midyear pay increases, having to increase the cost of products being sold, moonlighting, updating your handbook for second jobs, how Employco can help with policy updates and training, and more!
Contact us with any questions you may have, we’re here to help: hr@employco.com
HR expert offers revealing take on what questions should be off-limit in interviews
In September 2021, All of Us or None vs. Hamrick was denied a review by the California Supreme Court. Now, the bill is up for a vote once again. If a review is once again denied, then California will continue to prevent employers from asking for job applicants’ date of birth and/or driver’s license numbers.
“By preventing employers from asking for DOB or DL numbers, it makes it much more difficult and time-consuming to do any kind of background check on job applicants,” says Rob Wilson, HR expert and President of Employco USA, an employment solutions firm based in Chicagoland with locations across the country.
HR plays an essential role in the success of your company. HR is a strategic part of the success of your business. Your company must recruit, hire, develop and retain top talent to remain competitive. To do that, you need HR professionals with expertise in managing processes and maintaining compliance with regulations that have consequences if not performed correctly. To do this in-house comes at a cost. Partnering with an HR outsourcer can offer insight and guidance to ensure your HR needs are supported and that you achieve your HR objectives while helping you save money.
Here are some of the benefits of outsourcing your HR:
Reduce Costs
Looking for ways to reduce costs or maximize spending is essential to remain competitive. Outsourcing HR roles and activities can help reduce overall costs compared to keeping them in-house and on your payroll. From streamlining processes and managing HR tasks to lowering your benefits package, outsourcing HR functions helps you increase profitability. Partnering with an HR outsourcer like Employco enables you to control employee costs and gain a competitive advantage in stabilizing your company’s future expenses.
In this video, Rob and Jason discuss employee communication tips. They cover turnover and retention concerns, the importance of engagement, improving both internal and external feedback, listening, employee engagement surveys, and more.
Questions? We’re here to help: hr@employco.com
Beginning in 2018, Illinois implemented its state-sponsored retirement program—the Illinois Secure Choice Retirement Savings Program (Secure Choice). This program offers a Roth Individual Retirement Arrangement (IRA) to employees in Illinois who do not have access to a tax-qualified retirement program through work. While covered employers do not need to pay costs or fees in connection with Secure Choice, they must distribute informational materials about Secure Choice to their employees, facilitate enrollment in the program, set up payroll deductions and remit employee contributions.
On November 1, 2022, companies with 16 to 24 employees that have been operational for at least two years and don’t already offer a qualifying retirement plan (e.g., a 401(k) plan) will be subject to the requirements of the Illinois Secure Choice Savings Program Act. Currently, the threshold is for companies with at least 25 employees. Starting November 1, 2023, companies with 5 to 15 employees will become subject to the requirement.
According to the U.S. Department of Labor (DOL), union petition filings have significantly increased since October 2021. During the first nine months of the agency’s fiscal year (October 2021 through June 2022), the National Labor Relations Board received 1,892 petitions, a 58% rise over the same time period the previous fiscal year. The DOL also noted that fiscal year 2022 petitions exceeded the total number of petitions filed in fiscal year 2021.
Furthermore, the number of unfair labor practice charges has also increased, although not as drastically. As such, 12,819 charges were filed during the first three-quarters of fiscal year 2022, up from 11,082 in the same period of fiscal year 2021. This is an increase of 16%.
UnitedHealthcare (UHC) recently announced it will eliminate out-of-pocket health care costs for insulin and other emergency use drugs for fully insured group health plan members. Pending regulatory approval, members could access certain prescription drugs for free as early as Jan. 1, 2023. In addition to insulin, the following medications will be included in the new offering and also have a $0 cost share:
On August 11th, the Centers for Disease Control and Prevention (CDC) announced relaxed guidance related to COVID-19 exposure. The agency is no longer recommending that people quarantine after close contact with an infected person. The CDC also removed the recommendation that people stay at least 6 feet away from others.
According to the CDC, about 95% of Americans ages 16 and older have developed some level of immunity, either from being vaccinated or infected.
The U.S. inflation rate has increased by 9.1% year over year, according to the Bureau of Labor Statistics (BLS). The BLS also reported that this is the highest the inflation rate has been since 1981. This has led to significant price increases across many consumer goods, and employers are responding in various ways. As employees face increased financial difficulty during this time, it has become crucial for employers to respond. While every employer may take a different approach to addressing inflation and its impact on their employees, the following are some common strategies that have emerged.
Heading into the latter half of 2022, there are several trends impacting Human Resources (HR) and Benefits. Over the course of the COVID-19 pandemic, employers have faced challenges ranging from the health impacts of COVID-19 on workers to ongoing attraction and retention challenges. Challenges that are both similar and new will likely be present in quarters three and four of 2022. The workplace continues to transform, and while the pandemic has had a significant impact on these changes, various social movements and technological advancements have also played a role.
Today’s labor market is forcing employers to do everything possible to attract and retain workers. Rising inflation and labor shortages are pressuring employers to respond to employee demands.