Did you miss Employco’s most recent webinar or would you like to review a portion? The full webinar recording can be viewed here along with all of the questions and answers that followed: WEBINAR: HR Compliance Mid-Year Checkup
You can view/download the slides we used during the presentation as a PDF here: WEBINAR: Presentation Slides
Please do not hesitate to reach out if there are any questions you still have or topics you were unclear on. We’re here to help!
A human resource and employment solutions firm, Employco USA is pleased to announce the growing expansion of its staff.
Employco’s newest team members include:
Katie Clancy, HR Generalist – Katie is a creative and enthusiastic addition to our team. She will be handling HR support and her duties will include employee relations, training, and benefits for our Employco clients.
As Albus Dumbledore once said, “Help will always be given at Hogwarts to those who ask for it.” This was my first impression of Employco, which makes me excited to join the growing team! –Katie
Kristen Kelly, Payroll Specialist – Kristen is hard-working, dedicated and brings a coveted set of HR, accounting and payroll skills to our team. She will be handling payroll support for Employco clients.
After 17 years with my previous employer, I am looking forward to a change of scenery! –Kristen
Effective for plan years beginning on or after Jan. 1, 2023, group health plans and health insurance issuers must make an internet-based price comparison tool available to participants, beneficiaries and enrollees. This requirement comes from final rules regarding transparency in coverage (TiC Final Rules) that were issued by the Departments of Labor, Health and Human Services and the Treasury (Departments) in November 2020.
According to the Departments, this tool will provide consumers with real-time estimates of their cost-sharing liability from different providers for covered items and services, including prescription drugs, so they can shop and compare prices before receiving care.
The Equal Employment Opportunity Commission (EEOC) and the U.S. Department of Justice (DOJ) each recently issued new technical assistance documents about how employers’ use of artificial intelligence (AI) and other software tools to make employment decisions may result in unlawful disability discrimination under the Americans with Disabilities Act (ADA).
EEOC Guidance – The EEOC’s new guidance focuses on the following three ways an employer’s use of software tools for employment decisions may violate the ADA:
In its recent spring regulatory agenda, the U.S. Department of Labor (DOL) announced its plans to issue a proposed overtime rule in October 2022. According to the agency’s regulatory agenda, this proposed rule is expected to address how to implement the exemption of executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime requirements.
The DOL provided a similar notice last fall but has yet to specify what changes it may be considering. In recent years, some experts note that the agency has contemplated modifying the duties test and salary thresholds for exempt employees.
In light of the recent tragic shooting at a Fourth of July parade in Highland Park, Illinois, employers can take this opportunity to prepare their business for an active shooter. These incidents have become increasingly common in the United States. According to the FBI, the number of active shooter incidents jumped by 96.8% between 2017 (31 incidents) and 2021 (61 incidents). These incidents have also grown in severity, with 3 out of the 5 deadliest mass shootings in U.S. history occurring in the past decade.
Active shooter incidents can carry various consequences. These incidents often result in fatalities, serious injuries and prolonged trauma among those involved. Additionally, such incidents can leave lasting impacts on the locations where they occur, such as workplaces. Organizations that encounter active shooter incidents could face substantial recovery expenses, regulatory penalties and liability concerns, along with lasting effects on the employees and the work environment.
We recently released our 3rd quarter Attraction and Retention Newsletter. This edition of the newsletter includes the following information:
Click on the following link to read the Attraction & Retention Quarterly Newsletter where we elaborate on each of the topics above.
The pandemic created dramatic changes in how we work. Where once remote work was less common, almost overnight, businesses had to pivot to enable their employees to work from home. For many employees, the ability to work from anywhere gave them better work-life balance. In some cases, businesses saved on operating expenses when they were able to downsize their office spaces and cut other related costs.
But remote workplaces come with various challenges for businesses, from problems with asynchronous communications, lack of engagement, and even burnout. As the world opened up again, many organizations called their employees back into the office. But with so many workers demanding remote workplace options, many businesses are having to pivot once again to a hybrid model that includes time working both in the office and remotely. These ever-evolving hybrid workplace models represent challenges for businesses navigating them.
Employment trends expert Rob Wilson weighs in
The threat of stagflation continues to loom large over the economy. When June’s jobs report was released last Friday, it revealed that employers hired more workers than expected. While this was good news, it also gave the Federal Reserve the justification to raise interest rates in a bid to fight continued inflation.
“While the June jobs report was positive, it has led to a plan to increase interest rates by 75 points,” says Rob Wilson, President of Employco USA and employment trends expert. “The theory is that raising interest rates will curb spending, thereby causing spending to decline and demand to fall. Unfortunately, this is a plan that is conceived to combat inflation, but we have no economic tools in place to fight stagflation.”
Inflation is rising, and the fear of a recession is growing. A Bloomberg survey predicts a 30% chance of a recession occurring in the next year. Rising interest rates and a recession on the horizon are impacting everyone’s financials, and everyone is looking for ways to cut operating costs.
Recessions often lead to reduced profits. While nobody can entirely avoid an economic downturn’s impact, businesses should review their overhead regularly for ways to reduce costs. While reductions in profits can lead to concessions such as wage reductions and reduced benefits, revamping your benefits package to include more voluntary benefits is an innovative way to help make your business and your benefits recession-proof.