Employee Retirement Income Security Act (ERISA) governs both welfare benefit and retirement plans. This article focuses on the ERISA Summary Plan Description (SPD) and 5500 reporting requirements for welfare benefit plans.
A welfare benefit plan includes any of the following group benefits: health, life, dental, vision, disability insurance plans, Flexible Spending Accounts (FSAs), Health Reimbursement Accounts […]
According to Merriam-Webster’s online dictionary, accountability is “the quality or state of being accountable; especially an obligation or willingness to accept responsibility or to account for one’s actions.”
The above phrase “willingness to accept or account for one’s actions” most closely defines accountability. As managers, employees, business owners, peers, co-workers, students, spouses, friends, acquaintances, or strangers, […]
Increasing productivity in the workplace can make a noticeable difference in business efficiency. Many owners have added cost and time-saving measures to their business. Beyond these efforts, it is also important to make sure the current staff is productive. Here are seven ways to boost employee productivity with three additional ideas following:
Employee Coaching is providing one-on-one feedback and insights aimed at guiding and inspiring continuous improvements in employees’ work performance. This involves creating a process and climate of communication, mutual respect, ongoing observation, feedback, trust, development and focus on performance objectives. Ideally, employee coaching is part of the organization’s ongoing performance management system which may include […]
Compliance is a major concern for many organizations. There is pressure to have employee benefit plans fully compliant with all employee benefit laws – such as ERISA, COBRA, HIPAA, etc. – or face fines, penalties, loss of tax-favorable status, or even criminal charges. The Employee Benefits Security Administration (EBSA), a division of the Department of Labor […]
Engaging employees often leads to greater job satisfaction.
So – what does it take to keep employees ‘happy’ and motivated in their jobs?
Surprisingly, not as much as you might think. This is good news for
organizations that struggle to attain and retain qualified staff members.
Following are 26 “low-cost/no-cost” ways to motivate and retain employees.
Whether you’re […]