2021 Top HR Developments & Prognostications – Part Four

Kevin Kenealy human resources Comments Off on 2021 Top HR Developments & Prognostications – Part Four
2021 Top HR Developments & Prognostications – Part Four - The-Payroll-Company-10433-Montgomery-Pkwy-NE-Suite-1-Albuquerque-NM-87111-505-944-0105-scaled-Mkt-07-1024x683
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Technology is pervasive and embedded in the workplace today. However human resources department are not going anywhere. This component of the workplace is more important to the success of businesses than over. Companies use humans to run businesses, so unless a business has product or service that can be made on an automated basis or provided by a machine, Human Resources serves a critical function in today’s workplace. Human Resources enhances employee buy-in and maintains ongoing company business expansion.  

Featured here are the top Human Resources developments for 2021 to assist department heads and company managers get ready for the personnel-centric critical tasks in the upcoming days, weeks, months, and years. Similarly, businesses can employ these developments to make certain that their Human Resources ongoing tactics incorporate using the top HR Software to make the management of their company staff as efficient as possible.

It is hard for companies to manage employees well. Companies Human Resources departments seeking methods to help them be better at their roles choose web-based HR programs. These programs improve efficiency through automation of common HR jobs, such as benefits management and time-off tracking. Going this route improves HR departments time management profusely, which in turns allows them concentrate on critical goals including employee recruitment, training, retention, and job satisfaction.  

7. Data-Based Human Resources

Human Resources are knee deep in data in 2020. With this fact at the forefront of HR departments, it makes sense to employ this incredibly useful data and act via human resources analytics. HR analytics give HR departments granular understanding of the data they gather to set up better program, make wiser choices and projections about company staffing and its current staff. The data-based perceptions will give company managers powerful information they need to make smart staffing decisions and set achievable company goals

Human Resources analytics can be implemented to large array of measurements including sales per employee, net income per employee, gross income per employee, rate of turnover and employee absences. HR departments can use HR analytics reporting to generate reports covering all these subjects and be able to employ them to determine how and why of each measurement. High-end prognostic analytics will give HR departments the ability to make forecasts on those measurements and develop plans to improve the numbers and or create plans to solve major problems areas for the company.   

8. Human Resources Departments Fueled by Robotic Process Automation, Virtual Reality, and Artificial Intelligence

In 2020, and even more so 2021 and beyond, HR departments are the benefactors of the development of a plethora of modern technology tools. The top modern technology tools available and being used by HR departments dominating the workplace today are virtual reality, artificial intelligence, and robotic process automation.

Modern Technology Tool #1 – Virtual reality

The advent of virtual reality technology has been a boon for businesses. It is a useful method for both developing new hires and teaching them how to do a job. Virtual reality is very good at determining if a prospective employee should be offered a position or not. This is determined through VR demonstrable skill sets programs that allow employers to test a prospective employee’s skill sets. If they cannot complete a set of tasks in VR program, employers learn first-hand that the prospect should not be offered a job.  

Modern Technology Tool #2 – Artificial intelligence

HR departments around the globe now employ artificial intelligence in company job procedures. This tool has show it is very advantageous to company staff hiring teams to find quality employment prospects, analyze their skill sets and cull out the good from the bad. Additionally, artificial intelligence can assist in enhancing the prospective employee potential job engagement and fulfillment. This is critical because an prospective new employee that sees that they will most likely enjoy a new job, feel consistently engaged and connected to the company can go a long way to companies landing the top talent the seek.    

Modern Technology Tool #3 – Robotic process automation

HR departments will continue to experience the ongoing incorporation of robotic process automation into the workplace. When a new employee is hired today, a company that has adopted robotic process automation will incorporate it into its onboarding process.

Top Human Resources developments today show there is an ever-growing number of tasks that must be completed by companies HR department. A growth in multi-age work forces on the job at companies means HR departments must be equipped to develop methods to manage that picture well and keep each age bracket happy and motivated. HR departments must make the most of today’s high-tech tools which will help them create training systems that incorporate new knowledge and improved job skill sets of employees.


10 Payroll and HR Challenges for 2020 & Beyond – Part Three

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10 Payroll and HR Challenges for 2020 and Beyond by The Payroll Company 505-944-0151 d

Employers faced several payroll and human resources regulatory challenges in 2020 and will do so in 2021 and beyond. Business owners and human resources departments need to become informed and plan accordingly each year.

With these key factors in mind, here are the top compliance subject challenges that both employers and HR departments need to aware of and plan for each year.

Employee Privacy

Conducting business in 2020 means employers must be aware, knowledgeable and adhere to any privacy laws or regulations their company must comply with. The California Consumer Privacy Act (CCPA) goes into effect in 2020. It is front and center in the media and it is an act employers need be ready for in the coming year, 2021. Businesses that meet the CCPA criteria thresholds are mandated by the act to supply employees with a privacy policy notice. The Attorney General of the State of California will put out a complete set of guidelines for employers to follow towards the end of 2020.  

Biometrics today are being employed to recognize staff and record worked hours.  The upside of biometrics recorded of an employee cannot be edited, as other ways of identifying employees can be changed like employee identification cards and passwords. With those facts in mind, employers employing biometrics to identify employees and keep track of their time worked need to be knowledgeable about state regulations covering biometrics employee tracking and record keeping.

Health Care Reform. 

The current administration has made several changes to health care regulation. The changes has made have impact several health plans, insurances and reimbursement regulations including, the Individual Coverage Health Reimbursement Arrangements, Short Term Limited Duration Insurance and Association Health Plans. Other changes made are the elimination of the federal penalty connected to the individual mandate.   

Additional changes include the removal of the federal penalty under the individual mandate. The changes made have initiated states to go to court to control and oversee the health care coverage mandates in their state’s region such as rolling out an individual mandate for their state or by reducing the impact federal rules have in their vicinity. Because of these changes made by states, companies might be able to have updated choices and regulation compliance regarding employees’ health care choices, mostly related to where they reside. However, the options may be convoluted and hard to understand. Employers in 2020 must be sure aware of the most recent federal laws, current administration regulation mandates or initiated changes and any other compliance requirements they must meet regarding insurance and employee rights.  

The major challenges for employers in Payroll and Human Resources in 2020 and beyond are going to expand as our workplaces become more complex and technologically oriented. The best approach to stay in line regarding all these topics and subjects is to review each of them quarterly, check to see if there have been any new changes in the last 90 days and then make changes to your companies policies, rules and regulation compliance strategies where and when necessary.


10 Payroll and HR Challenges for 2020 & Beyond – Part Two

Kevin Kenealy human resources, payroll processing Comments Off on 10 Payroll and HR Challenges for 2020 & Beyond – Part Two ,

Employers faced several payroll and human resources regulatory challenges in 2020 and will do so in 2021 and beyond. Business owners and human resources departments need to become informed and plan accordingly each year.

With these key factors in mind, here are the top compliance subject challenges that both employers and HR departments need to aware of and plan for each year.

Worker Classification

In the U.S. courts and local and state legislatures worker classifications are being ruled on by enforcing agencies. The most controversial legislation for workers that are gig economy workers, such as rideshare gig workers, is California AB5, which took effect in January 2020. For workers to be classified as an independent contractor in the state employers need to show a worker meets the standards of a three part test under the new law.  

Multiple Payment Options Available to Businesses. 

During 2020 strong growth of payment service providers used to received and send monies will keep going. New advancements coming about are the release of Clearinghouse’s Real Time Payments network and the growth of the same-day ACH for companies and product featuring pay-on-demand permitting workers to get paid as they earn their wages. Non-cash payments will become the norm instead of the exception. Electronic payment options are easy and user-friendly. The eliminate the need for a bank account, but they provide the same advantages. Companies seeking to better their weekly cash flow by way of quicker payment methods and helping employees through non-cash payment methods should meet with a payroll processing company, or their bank to find out more about all the payment methods available today in 2020.

The major challenges for employers in Payroll and Human Resources in 2020 and beyond are going to expand as our workplaces become more complex and technologically oriented. The best approach to stay in line regarding all these topics and subjects is to review each of them quarterly, check to see if there have been any new changes in the last 90 days and then make changes to your companies policies, rules and regulation compliance strategies where and when necessary.


10 Payroll and HR Challenges for 2020 & Beyond – Part One

Kevin Kenealy human resources, payroll processing Comments Off on 10 Payroll and HR Challenges for 2020 & Beyond – Part One ,
10 Payroll and HR Challenges for 2020 and Beyond by The Payroll Company 505-944-0151

Employers faced several payroll and human resources regulatory challenges in 2020 and will do so in 2021 and beyond. Business owners and human resources departments need to become informed and plan accordingly each year.

With these key factors in mind, here are the top compliance subject challenges that both employers and HR departments need to aware of and plan for each year.

W-4 Form Changes

There was a forced revision of key federal withholding process brought about by the Tax Cuts and Jobs Act of 2017. These changes resulted in a new Form w-4 for the 2020 tax year. The largest updates that are part of the forced changes include getting rid of withholding allowances and the allowed method of additional tax withholding by taxpayers when filing taxes after the year that tax reform legislation is initiated. Starting in 2020 all new employee hires are required to complete the new form. Employees already on the books do not have to complete the new Form W-4, but they can change their withholding because of the new form. Adjustments made to payroll withholdings completed in Jan. 1, 2020 are required to be made with the new Form W-4. Employers are required to calculate employee tax withholdings using the old Form W-4 and the new Form W-4.  Since the new Form W-4 release along with updated withholding tables, States around the country required to figure out if the will revise their tax system predicated on the 2020 Federal tax withholding table changes, retain the process they are using now or create an updated withholding method. A handful of States in the U.S. have made their decision on how they are going to manage withholdings, but most States have not yet determined what they are going to do.

Final Overtime Rule

The U.S. Department of Labor issue its long time coming Final Overtime Rule. The new rule changed the U.S. federal regulations overseeing employees due minimum wage and overtime pay under the auspices of federal wage and hour law. Along with several changes, the Final Overtime Rule increased the ‘standard salary’ for the following job classifications which include executive, administrative and professional white-collar exemptions from the existing enforced wage level of $455 per week to $684 per week. This means that employee would be making the standard of $35,568 per year for a full year of work worker. This ruling took effect on Jan. 1, 2020. The ruling permits employers to make up to 10% of the standard salary level in a full year using non-discretionary bonuses and specific payment incentives which can include commissions.

The major challenges for employers in Payroll and Human Resources in 2020 and beyond are going to expand as our workplaces become more complex and technologically oriented. The best approach to stay in line regarding all these topics and subjects is to review each of them quarterly, check to see if there have been any new changes in the last 90 days and then make changes to your companies policies, rules and regulation compliance strategies where and when necessary.


Cool Strategies to Ramp Up 2019 Employee Hiring

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In 2019 in the US employment market, employees with top talent hire on and leave companies more quickly now than ever before. The days of people with long term careers at the same employer are gone. Because talent comes and goes so quickly at employers, one would think companies would be geared up all the time ready to hire new talented employees at the drop of hat.

As it turns out many employers do not desire to hire at the speed of light. Many companies value an extended hiring cycle because it provides for my time to review and compare all potential hires and it allows the company to hire the top candidate for the job. Taking time, being patient and diligent when hiring a new employee can pay dividends.

Employment occurs at most companies when a company is growing and adding new staff or when a person leaves a position. When looking at the needs of a company and its success or lack of it, looking at its hiring process will provide a lot of clues as to why the company is growing and profitable or why it is not. Hiring top talent is a talent and companies that do it well are quite often successful.

Hiring Quickly in 2019 is Not a New Thing, It, is the Thing.

In the past employees would not a leave a job because the were worried about security. Today employees many times make many job changes and never worry about security because moving from one company to another it part of the job market today in 2019. The talent level today is better and the number of people in the talent pool is larger than ever. 30 years ago, there were 97 million people in the U.S work force and now 30 years later there are 128 million people in the work force. The pool of talent is bigger, people are willing to change jobs and there are more companies in business today than there back then. Certain job sectors like professional services and health care are really growing in 2019, making the need to hire quickly to fill open positions is more important than ever.

Today, employees who were once reluctant to leave a job for fear of losing security are now more likely to make a move. Furthermore, that pool of highly-qualified talent that was rendered jobless is more eager than ever to get back into the workforce. Now that opportunities are available — particularly in sectors like healthcare and professional services where hiring is taking place, people are job searching.

Facts are facts and the fact is, people with bachelor’s degrees or more have lower unemployment rates than people with only a high school diploma. This translates to companies needing to move quickly to hire the best talent, such as job seekers with degrees, because they don’t stay available for long. Companies want better employees because it translates most of the time into better results, better sales and more profit.

There is a logical business need to fill a job position. At the same time the benefit that comes from filling the job translates into company success such as sales and profitability is just as important. Human Resources moving slowing when hiring a new employee costs a company important time, money and quite possibly, credibility. If a company’s services start falling behind or projects are not getting done in a timely fashion, the company will look bad and maybe start losing business.

Here’s How to Ramp Up Your Company’s Hiring Speed in 2019

Here are several strategies your company should look at employing to ramp up the speed at which hiring is accomplished:

  • Notify Your Existing Staff of Your Job Opening
  • Write a Concise Well Written Description of the Job
  • Choose Quality Prospects to Come in for Interviews
  • Use Strategic Action and Reduce Steps That Slow Down Completion of the Hiring Cycle
  • Develop a Permanent Company Talent Plan
  • Hire a Consultant to Help Your Company with Your Hiring Process or Outsource Part of It

The biggest bonus a company sees when it ramps up its hiring process and brings in new employees quickly is it gives the company time to focus on important action plans that keep current employees and it in turn makes the company more successful and more profitable.

It is so important today, with the smaller available skilled talent pool, for companies to focus on its current work staff. Keeping talented employees happy and productive is very important. Hiring people talented people quickly and efficiently is more important today than ever. ​​

 


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