The question is relatively straightforward: How do you as an employer offer salaries and compensation structures that are attractive to employees, while still promoting your organizational profitability? The answer is simple: salary benchmarking. Understanding the process is considerably more complex.
A recent survey by the Society for Human Resources Management (SHRM) reported 94% of leaders feel employee engagement is an important or very important workforce challenge. An engaged workforce increases operational income by over 19%, while a disengaged workforce can drain over 34% of an organizations’ operational income. Additional risks of low engagement can be seen in increased turnover, low customer satisfaction ratings and even increased employment litigation.
Employee retention continues to be a top concern for employers, even more so than last year, according to a PayScale survey of more than 4,000 executives and human resources professionals.
In 2014, a staggering 59% of employers were more concerned about retaining talent than anything else. Five years ago, only half of those employers thought retention was their number one concern.
Rehiring employees can be beneficial to your organization, especially if they were strong contributors. You could save time and money since they are familiar with your business, and you do not need to provide them with the in-depth training required for onboarding new employees. Here are some ideas to consider as you create your rehiring policy and procedures.
At a recent employment conference, I asked 300 executives and human resources professionals to identify:
Rather than cite a work team, the majority of attendees identified sports teams or public service organizations from their youth as being the most effective team.
Managers and supervisors are often promoted because they are good at their fundamental job duties. Take a good accountant who has strong financial acumen and is promoted to manager or supervisor in the finance department for example. The abilities that made this accountant successful are no longer as relevant. New abilities are required, but organizations often don’t provide leadership training necessary to build the skill sets needed for them to be successful as team leader or coach.
Employers must have an Employment Eligibility Verification (Form I-9) for every person on their payroll who is required to complete it. The next steps are to determine how long to keep your I-9 Forms, how to store them, and what to do if the government asks to inspect your forms. Not only is compliance essential for a government inspection, but also ensuring that any corresponding documentation with personal information stays out of the wrong hands — since the forms collect personal information about your employees.
A detailed job description is a helpful document when properly updated. Job descriptions often come into evidence as an exhibit in employment, workers’ compensation, and personal injury matters. If they are not updated, an employee can testify that their job duties have evolved over the years and leave room for interpretation by a judge, jury, or hearing officer what that employee’s job duties actually entailed.
During the White House’s Summit on Working Families on June 24, 2014, President Obama indicated he was signing a presidential memorandum requiring every federal agency to address flexible work schedules and give employees the right to request such schedules. Absent what could be a dramatic increase in workplace flexibility for federal employees, it is undeniable that the demand for flexibility and work-life balance is on the rise.
When the U.S. Department of Labor (DOL) comes knocking, you may want to scream “why me?” Herein lies part of the problem. With a significant increase in audits and civil investigations over recent years, the more appropriate question is “why not me?” Rather than cross your fingers and hope for the best, it’s time to be proactive and prepare your organization for a DOL audit.
How has the #metoo movement impacted claims against employers? The U.S. Equal Employment Opportunity Commission (EEOC) announced preliminary FY 2018 sexual harassment data last week. The EEOC filed 66 harassment lawsuits, and 41 included allegations of sexual harassment. That reflects more than a 50% increase in suits challenging sexual harassment over last year.
At Vail Place, a nonprofit agency providing mental health recovery services, the role of human resources was changing. Vail Place has two Minnesota locations, one in Hopkins and one in Minneapolis. “Over the past few years, our people have needed to learn new roles,” says Executive Director Vicky Couillard, “while our organization faced a lot of new responsibilities.
On May 11, 2014, the governor of Minnesota signed the Women’s Economic Security Act (WESA), a bill that will require Minnesota employers to make dramatic changes to their employment policies and practices.
While WESA directly impacts employers who conduct business in Minnesota, the changes follow plans by federal and local governments to expand legal protections for women and other employees. For this reason, employers in other jurisdictions should pay close attention to these national and state law trends.
“If we get sued, you get sued!” Sounds warm and comforting, right? I bet you cannot wait to partner or contract with a company that already has litigation on its mind. Nevertheless, these types of statements are common, and once formalized by lawyers, are called “indemnification clauses.” They are often necessary but can be very broad and potentially catastrophic to your business.
Enterprise risk management (ERM) is a holistic approach to understanding and managing risk throughout an organization.
To develop an effective ERM program, organizations must first identify their risks, assess their current situation and come up with solutions. Those solutions must then be integrated throughout the organization, because controlling risks in one department won't protect the business if another area is vulnerable.
Enterprise risk management (ERM) is a holistic approach to understanding and managing risk throughout an organization. Almost any business, but especially those that have the potential for large losses, can benefit from ERM.
The terminology — enterprise risk management — is designed to emphasize the need for a coordinated effort to address all types of risks. Essentially, all of a company’s risks fall into one or more categories:
Nonprofits are certainly not immune to conflicts. The cost of a nonprofit lawsuit will sometimes climb to around a half million dollars — notwithstanding any award that may be owed as a result. A board's decision could expose the nonprofit and its directors to a claim or lawsuit. In order for a nonprofit to protect its mission and its board members’ personal assets, directors and officers (D&O) insurance may be a crucial investment.
Risk management and human resources are traditionally two different job functions, and the people in these areas have rarely crossed paths — but that is changing.
Why are these people starting to work together more frequently?
Many technology exposures originate in an organization’s information technology (IT) department. In addition, client data and intellectual property may be at risk through computer viruses or malware that can penetrate the system — even without fraudulent intent on the part of employees — through poor or nonexistent IT security policies.
Businesses are also exposed to a growing number of online security threats and vulnerabilities from the outside. Establishing policies and safeguards to protect your company from internal misuse, external fraud and malware is absolutely essential.
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