Not every employer is ready or capable of launching and administrating a 401(k) or other qualified retirement plan. If your organization is in this camp, its employees might appreciate a payroll deduction IRA. How it works With a payroll deduction IRA, employees’ contributions are deducted directly from their paychecks. The automatic deduction can make it […]
Compete carefully in a fierce job market with signing bonuses
Is your organization looking to hire new employees? Join the club. The U.S. unemployment rate hit a historic low this past April, according to a Bureau of Labor Statistics household survey. It fell to 3.6%, the lowest rate since December 1969 — that’s almost 50 years! April also marked the 14th consecutive month of the […]
Are payroll cards the right call for your organization?
Payroll costs are a natural and unavoidable consequence of being an employer. But this doesn’t mean you can’t keep an eye out for ways to lower these costs or simply handle payroll more efficiently. One approach that many organizations use is issuing employees a payroll card (much like a credit or debit card) that they […]
Stop your trade secrets from walking out the door
Trade secrets are among the most critical yet often overlooked assets of any organization. And they aren’t always as sophisticated as proprietary software or as famously secret as Coca-Cola’s formula. A trade secret can be as seemingly innocuous as a customer list, business strategy, policy manual or pricing sheet. When looking to protect yours, the […]
Why employers are taking another look at life insurance as a fringe benefit
In their continuing effort to assemble the most enticing employee benefits package possible, some employers are showing renewed interest in an old favorite: group term life insurance. Although such life insurance coverage had fallen off the radar screens of some employers, it remains an affordable benefit that can pay off for employer and employees alike. […]
Upskilling: The next frontier in employee training
In the face of a tight job market and a widening skills gap, employers in many industries are catching on to the benefits of “upskilling.” More than just your typical employee training, upskilling takes a broad approach to development. It can involve teaching workers additional skills in areas related to but outside their current positions […]
Changes ahead for 401(k) hardship withdrawal rules
Many employers sponsor 401(k) plans to help employees save for retirement. But sometimes those employees need access to plan funds well before they retire. In such cases, if the plan allows it, participants can make a hardship withdrawal. If your organization sponsors a 401(k) with this option, you should know that there are important changes […]