Critics of the performance review have long pushed for its extinction. And it's easy to jump on the bandwagon. When implemented incorrectly, performance reviews can feel outdated, cumbersome, and outright disingenuous. But when handled strategically, the performance review can bring benefits that far outweigh the cost of the process.
Here are five key reasons to keep and perhaps upgrade the performance review for your organization.
Traditional pensions have gradually died away like long-lost dinosaurs of the retirement savings world with 401k plans emerging as the primary way Americans are saving for their golden years. What was once a secondary option for retirement savings with a lot of employers is now much more prevalent. According to ForUsAll:
When you’re negotiating the terms of a new job, the first thing you’ll likely look at is the annual salary. Nevertheless, it’s important to understand that employee benefits are equally important, as they can impact both your finances and your overall wellness. However, if this is your first job, then you might not be familiar with the phrases used to describe employee benefits. The following glossary can help:
A Professional Employer Organization (PEO) like Employer Flexible is a third-party firm that manages a company’s administrative management tasks. Tasks such as employee benefits, payroll, and human resources are crucial to the success of any business. With a PEO, business-owners have more time to take care of what really matters: the bottom line.
As a small business owner or manager, you have probably gotten used to wearing a lot of hats during the course of a typical working day. At the same time, you should consider the amount of time and energy you waste on tasks that don't directly support your primary business goals. The American Psychological Association found that multitasking can lead to a drop in productivity of 40 percent.
In early 2016, many employees will receive two important new tax forms. In general, you will receive a Form 1095-B if you were enrolled in your employer’s health plan in 2015. You will receive Form 1095-C if you were a full-time employee of a large employer at any time during 2015.
Open enrollment can be an extremely stressful and overwhelming time for both you and your employees. It is typically the only time during the year in which employees can make changes to their benefits choices, such as adding or dropping coverage, adding or dropping dependents, or enrolling in benefits for the first time.
Many consumers are eager to learn more about health savings accounts (HSAs), which continue to generate buzz as a growing trend in health care coverage. The general assumption is that a financial tool with this much potential must be complex and difficult to understand. However, HSAs are simple to outline, and can be broken down into a list of ten basic points for consumers to easily digest.
On June 30, 2015, the U.S. Department of Labor (DOL) issued a proposed rule to modify the “white collar exemptions” provided by the Fair Labor Standards Act (FLSA). The white collar exemptions are minimum wage and overtime exception rules for executive, administrative, professional, outside sales and computer employees.
Employers and plan administrators should make sure they are aware of which employees are entitled to Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage. Problems can arise if COBRA is not offered to someone who is eligible to elect COBRA coverage or if it is offered to someone who is not eligible.
