COVID-19 has brought many unforeseen challenges, however, one that employers can get ahead of is the Great Resignation. The term was coined in 2019 by Texas A&M’s Anthony Klotz. This prediction displayed a widespread voluntary removal of those within the workforce. As we come to the end of the year, the Great Resignation has continued to gain momentum. According to Harvard Business Review, beginning in April 2021, over four million employees quit within that month alone. This led to a record-breaking number of open positions reaching 10.7 million by July. …
If you’ve noticed that your family health insurance prices are on the rise, you’re not alone. In fact, the cost of family premiums for employer-sponsored coverage has jumped 47% in the last decade - which outpaces wage growth at 31% and inflation by 23% over the same period. In the last year alone, premiums for family coverage reached an average of $22,221, a 4% increase.…
Business owners need plenty of information when investing in group health insurance. Find out what you should ask when shopping for group health coverage.…
On November 19th, President Biden’s $1 trillion Infrastructure Law (Infrastructure Investment and Jobs Act) was passed by the House after months of delays and will now be sent to the Senate to approve. The White House is projecting that this bill will create 2 million jobs over the coming decade. However, many are worried about where the funding will come from. …
Richfield, Ohio – November 30, 2021 -- Group Management Services, a Professional Employer Organization (PEO) headquartered in Richfield, OH, has committed to 25 days of sharing random acts of kindness throughout the communities in which they are located. The organization will spend December 1st through 25th donating, volunteering, and participating in random acts of kindness, large and small. …
Inflation has been rising and studies have shown that unfortunately, inflation hurts low-income Americans and small business owners the most. Consumers are noticing this the most on all the goods they buy daily. According to Fox Business, prices for consumers have surged 6.2% in October compared to the previous year. Moreover, core prices, which exclude the more volatile measurements of energy and food, rose 4.6% over the past year, which was the largest increase since 1990. Prices have risen 0.9% from September to October. …
Company culture, a once cliché term, is now at the forefront of every leader’s brain - as it should be. Pair the up-and-coming millennial generation that continues to shift the nation’s workforce with the hundreds of thousands of employees who have become accustomed to working at home over the last year and a half, and there you have it... The Great Resignation. …
The controversial COVID-19 vaccine mandate had countless private-sector workplaces with 100 or more employees concerned over the testing and vaccine mandate. After a lawsuit was filed Friday by a group of plaintiffs, including Louisiana Attorney General Jeff Landry, the order has been suspended by the court. The court ordered that OSHA, "take no steps to implement or enforce" the ETS "until further court order." …
The IRS announced the 2022 cost-of-living adjustments (COLAs) for employer-sponsored retirement plans. Both employee and employer limits will increase due to the continued rise of inflation. Employees under the age of 50 will now be able to max out their contributions at $20,500. This is a $1,000 increase from the cap in the years 2020 and 2021. Employees aged 50 and older will continue to be able to contribute an extra $6,500 in catch-up contributions, which has been unchanged for the last two years. …
More businesses can now qualify for the Employee Retention Tax Credit. Find out if your business is eligible and how to claim the ERTC before the end of 2021. …
As the HR technology landscape continues to gain momentum, companies across the country are utilizing the surge of new solutions to more efficiently manage their employees. From learning management systems to applicant tracking - all these exciting offerings make it easier for owners to streamline their employee experience, and, in turn, allow them to focus on the daily tasks of running your business. …
