Cangrade • 23rd November 2022

How to Build a Successful Team by Hiring with Soft Skills Assessments

Today, if you Google “business success” and “soft skills,” your browser will return just over a couple hundred thousand results in 0.57 seconds – giving you an idea of today’s soft skills popularity.

In an often-cited research study, Stanford Research Center, the Carnegie Foundation, and Harvard University found that 85 percent of job success comes from soft skills, whereas 15 percent comes from hard skills.

The findings suggest that HR professionals should prioritize soft skills over hard ski

GoCo.io • 9th November 2022

How to Create a DEI Policy for Your Workplace [+Download]

HR departments increasingly understand that embracing and advocating for workplace diversity, equity, and inclusion (DEI) not only drives profits and performance but it attracts top talent while keeping employees engaged. More employers now see that they must decry the ongoing tragedies of racism and inequality in America.

In an often-cited study, McKinsey found that more diverse leadership teams are 25 percent more profitable than companies that don’t prioritize diversity. Meanwhile, HR expert

Sequoia • 7th November 2022

IRS Clarification Issued for 401k Plan’s Required Minimum Distribution Rules – Sequoia

On October 7, 2022, the Internal Revenue Service (IRS) published Notice 2022-531, to clear up confusion on some of the required minimum distributions (RMDs) guidance introduced in the 2019 SECURE Act.
• Any RMDs made during 2020 or 2021 to beneficiaries of “impacted participants” (those who died after December 31, 2019, and died on or after their required beginning date) do not have to be corrected. Note, the “required beginning date” is the date on which you must start receiving RMDs from your

Cangrade • 3rd November 2022

3 Ways to Communicate Layoffs or Hiring Freezes to Employees

Layoffs and hiring freezes are inevitably necessary throughout an organization’s life cycle. But the reality of downsizing employee count doesn’t make these decisions any easier.

While some companies make the headlines for handling layoffs poorly – or as shockingly as Better.com’s CEO did when he announced layoffs on a Zoom call in December 2021. To the 900 employees attending that Zoom meeting, Better.com’s CEO said that “If you’re on this call you are part of the unlucky group that is being l

Cangrade • 27th October 2022

4 Ways to Keep Employees from Quitting Within the First 30 Days

Voluntary turnover has hit record highs as of late. According to a recent Gartner study, U.S. employees voluntarily leaving their jobs is projected to jump 20 percent in 2022 over 2021, resulting in 37.4 million U.S. employees expecting to leave their jobs voluntarily by the end of the year.

Gartner estimates that these higher turnover rates will continue post-pandemic, with rates hitting as high as 24 percent annually for years to come.

With these growing numbers of voluntary turnover, focusi

Sequoia • 25th October 2022

The IRS Announces New 401k Plan Limits for 2023 – Sequoia

On October 21, 2022, the Internal Revenue Service (IRS) announced the new 401k plan limits for 2023 in Notice 2022-551, showing a significant jump over previous years’ cost-of-living increases. Retirement plan industry experts note that the significant 401k plan increases for 2023 are a direct result of current inflation rates.

Details on other retirement-related cost-of-living adjustments for 2023 can be found in IRS Notice 2022-552.
• Employee elective deferrals, including both pre-tax and Ro

Sequoia • 20th October 2022

[Updated]: IRS Grants Three-Year Extension for 401k Plans’ Adoption of CARES and SECURE Act Amendments –

[UPDATED] Employers will want to take note that on September 26, 2022, the Internal Revenue Service (IRS) released Notice 2022-451, which in combination with Notice 2022-33, now extends all 401k calendar year plan amendments under both the CARES and SECURE Act until December 31, 2025. Prior to this Notice 2022-45 extension, the IRS required that most CARES Act amendments (such as COVID-related distribution and loan amendments) be adopted no later than December 31, 2022, for 401k calendar year pl

Cangrade • 6th October 2022

Six Things Leadership Teams Think About Flexible Work Environments

Flexible work arrangements have seemingly dominated employment conversations as of late – and for good reason. With droves of employees shifting from on-site to remote working arrangements, employees, managers, and leaders alike have altered workflows, communication, and expectations.

Despite the many documented benefits of remote work, 50 percent of leaders say that they require (or will require in the next year) for employees to return to work – on-site and permanently.

In particular, there

Sequoia • 29th September 2022

Limited Plan Audits Are History: What 401k Plan Sponsors Should Know –

The Employee Retirement Income Security Act of 1974 (ERISA) requires 401k plans with 100 or more eligible participants to file an audit with its Form 5500. For plans with less than 100 or more eligible participants, an annual audit is not required.

In the past, two types of 401k plan audits existed: limited and full-scope audits. In a limited scope audit, an independent auditor does not have to audit any plan asset information if a bank, an insurance company, or a regulated trust company holds

GoCo.io • 9th September 2022

Why Your Business Needs an Employee Assistance Program

If one thing’s for certain, Americans are more stressed now than in years past. And for good reason. From a global pandemic to rising inflation to continuing supply chain issues, Americans are 20% more stressed than the global average, according to a recent American Institute of Stress study.

Download The State of Health & Safety In HR Report

These stress levels don’t dissipate when Americans head to their workplace – or their home office. Instead, stress naturally pours over into their workd

Sequoia • 8th July 2022

What to Know About Cryptocurrency in 401(k) Plans – Sequoia

On March 10, 2022, the U.S. Department of Labor (“DOL”) officially weighed in on offering cryptocurrency as an investment option in 401(k) retirement plans. In Compliance Assistance Release No. 2022-011, the DOL “cautions plan fiduciaries to exercise extreme care before they consider adding a cryptocurrency option to a 401(k) plan investment menu for plan participants.”

Primarily, the DOL advises that because retirement plan fiduciaries must adhere to prudent and loyal duties under the Employee

30th September 2021

Five Effective Strategies to Optimize Your High-Volume Hiring

High-volume hiring comes with its own unique set of challenges. Throw in a global pandemic? You've magnified your hurdles.

In a of 420 recruiting professionals at the talent acquisition director level or above, 65 percent said they have "high volume hiring demands, defined in the study as needing to fill over 1,000 positions in a short period of time or receiving more than 1,000 applications per position." Additionally, 48 percent said that it's currently challenging to find qualified hires.

A

8th July 2021

Situations and Solutions for Gig Marketplaces

Whether you’ve received services from a gig worker, know someone who has served as a freelancer for independent and ad hoc jobs, or have even considered joining the gig marketplace yourself, it’s safe to say that by now, many of us have experienced the direct impact of the gig economy boom in some way.

Currently, 57 million workers participate in the U.S. gig economy, making up . According to , by 2027, freelance and other gig workers are expected to account for most of the U.S. workforce.

The

BAC • 15th April 2019

HRA vs HSA: Which One is Best for Your Employees?

HRA vs HSA: Which One is Best for Your Employees?

Over the past few years, enrollment in consumer-driven health plans continues to increase, indicating a move away from traditional options, such as PPOs and HMOs. Generally, consumer-driven health plans are the least expensive options offered by employers, giving employees more control over their health spending. Because of this control, these types of programs, providing at least a $1,000 deductible, deliver between a 17 percent and 21 percent

Spark • 2nd April 2019

Hiring Foreign Workers: What Programs Are Available?

Because compliance is key in hiring noncitizen employees, knowing how to hire a foreign worker in the U.S. means carefully following all applicable rules and regulations.

Businesses sometimes want to hire talent from outside the United States. With technology growing ever more complex and STEM skills science, technology, engineering and math becoming increasingly in demand, highly skilled domestic employees have proven scarce, according to The Hill. So it's no wonder that American employers are

BAC • 15th March 2019

The Importance of 401(k) Participant Education

Have you ever read your company’s 401(k) plan document? It’s filled with legal and tax jargon, making it difficult to comprehend for anyone who doesn’t specialize in retirement plans. Despite the confusing terms, 401(k) plans are one of the most popular retirement plans employers offer. For example, in 2016, approximately 55 million Americans actively participated in their company’s 401k plan. As of September 30, 2018, these plans held $5.6 trillion in assets, which represents 19 percent of all

Spark • 6th February 2019

Drug Use in the Workplace: Three Things Employers Should Know

Curbing or eliminating drugs at work can provide a safer and more productive place of business — but there are legal considerations.

In a recent analysis of approximately 11 million employer drug test results, Quest Diagnostics reported an increase in drug use in the workplace for the fifth consecutive year. The analysis, which showed upticks in amphetamines, heroin and marijuana, found that almost one in 11 job applicants failed an oral fluid drug test.

Bloomberg, too, reports that drug abuse

Spark • 31st December 2018

How Employee Separation Agreements Can Protect Your Business

As laws shift, employers should have counsel review their employee separation agreements regularly. Here's what you need to know.

Many employers use employee separation agreements — outlining severance pay, extended insurance, noncompetes and confidentiality, for example — when an employee is terminated. These provisions, including others typically found in these agreements, can help protect the employer from certain kinds of potential litigation from former employees.

Sometimes these agreemen

BAC • 1st November 2018

Planning for Retirement? Here's What You Should Know

Planning for Retirement? Here’s What You Should Know

No matter your age, retirement can seem far off, set at some unknown point in your future. Failing to contribute towards your retirement can leave you and your loved ones in a difficult situation. However, with the retirement plan in place, time is on your side.

If you’re in your 20s or 30s, you should contribute even the smallest amount to your retirement account as compounded interest makes an essential impact on your retirement savings. F

Spark • 6th July 2018

The EU GDPR: What to Know About

This article was updated on July 6, 2018.

The European General Data Protection Regulation (EU GDPR), the most significant change to data protection in three decades, became effective on May 25, 2018. The regulation intends to strengthen individual data and privacy protection for individuals residing within the EU. Additionally, it intends to simplify the regulatory framework for international business by unifying data and privacy regulations. It replaces the Data Protection Directive from 1995.