As a business owner, employee turnover is one of the biggest issues you’re going to face. Many organizations spend thousands of dollars every year recruiting and replacing their employees. While a certain amount of turnover is unavoidable, that doesn’t mean you shouldn’t be taking steps to prevent it.
Did you know that 83% of employers have changed their benefits strategy within the last three years? At Dominion, we believe it’s never a bad time to reevaluate your processes. Worst case scenario, you reaffirm that you’re running your business as efficiently as possible. However, many times you’ll find a new software or product that will improve your processes and save you time and money in the long run. So when was the last time you reevaluated your benefits administration process?
Vacation policies come with questions. Among the typical paid time off questions such as is it mandatory to offer vacation time, and how much should I offer, another common question is will I need to pay out any unused vacation time? Common practice and state law around paid time off, and vacation time specifically, vary from company to company and state to state. Let’s take a look at how Michigan handles the payout of unused vacation time.
Exit interviews can be uncomfortable. Some departing employees use the opportunity to vent years worth of pent up frustration. And while negative feedback is hard to listen to, if employees are willing to express how they feel about working for your organization, there might be nuggets of wisdom concealed in their frustration. If you’re willing to conduct exit interviews, it’s worth the time to consider a former employee’s feedback about their experience.
There has been a new date set for EE0-1 Pay data reporting. The Equal Employment Opportunity Commission (EEOC) released a brief statement on its website stating employers would be required to report employee pay data by September 30th. Let’s take a look at the details of the immediate reinstatement of revised EE0-1.
Employers who offer health benefits typically offer HSAs to their employees. HSA stands for a health savings account and allow employees to contribute tax-free contributions toward a high-deductible health plan. Employers can elect to match or contribute to their employees’ health savings accounts and these contributions are not taxable under federal law. Plus, HSA funds roll over from year to year and will follow an employee from company to company. Let’s take a look at some common questions about HSAs.
In the social media age, privacy, it seems, is a luxury we can’t always afford when out in public. Almost everyone has access to the internet with the touch of a finger, so the pressure for employees to monitor their behavior, even outside of work, is higher than ever. You never know when you’ll end up the subject of a Twitter, Facebook, Instagram or Snapchat post, even if you don’t have any of those accounts yourself.