Miscellaneous

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Only 8 Days Left To File 1095 Forms!

ACA_Brochure_HandThe 2016 Affordable Care Act (ACA) reporting deadlines are just around the corner, the ACA Recipient deadline is March 2, 2017.

Employers and human resources departments should start preparing as quickly as possible to meet the deadlines. It is important that employers understand their roles and responsibilities in order to stay compliant and avoid financial penalties.

Employers and human resources departments must not only be aware of the ACA’s basic rules, but they must also stay vigilant in understanding the constantly changing landscape.

Download the InfinityHR Guide: Five Things You Need to Know for 2016 ACA Reporting now!

By |Feb, 22nd, 2017|Affordable Care Act, Miscellaneous, Uncategorized|

5 Big Benefits Trends for 2017

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Changing workforce demographics and innovative technologies are quickly reshaping the benefits employees need. In addition, if employees fully understand their benefits options, they’ll make better purchasing decisions and in turn, decrease their financial stress. Employers have a unique role in helping employees from all generations navigate their choices. This will help businesses maintain strong loyalty among employees and continue to attract top talent in 2017 and beyond.

Key Takeaways:

  • How to strike the right benefits balance with multiple generations in the workforce
  • How voluntary benefits are used as a strategy to customize benefits packages
  • How Telemedicine could have a big impact on benefits savings for employers
  • How effective communication and optimal enrollment processes are critical for employees to fully understand their benefits options
By |Feb, 10th, 2017|Benefit Management, Miscellaneous|

IRS Announces 2017 HSA Contribution Limits

InfinityHR is committed to keeping you up-to-date on compliance developments that may impact your organization.

The IRS has officially announced an increase to the single contribution limits for a 2017 Health Savings Account.  The maximum contribution that can be made to an HSA tied to a high-deductible plan will be $3,400 for employees with single coverage, up from $3,350 in 2016.  However, the maximum contribution for those with family coverage will remain unchanged at $6,750.  Participants age 55 or over may also make an annual catch-up contribution of $1,000 for either coverage type.  A catch-up contribution can be made any time during the year in which the HSA participant turns 55.

For 2017, a HDHP will be defined as health plan with an annual deductible that is “not less than $1,300 for self-only coverage or $2,600 for family coverage”.  Annual out of pocket expenses such as deductibles, copayments, and other amounts that do not include premiums, will not exceed $6,550 for self-only coverage or $13,100 for family coverage.  This remains unchanged from current 2016 limits.

This ruling is detailed in on the IRS’ official website, Revenue Procedure 2016-28, and takes effect in January.

By |Aug, 19th, 2016|Miscellaneous|

The Importance of Employee Training

Most managers wouldn’t hire unqualified employees. But why do so many employ underqualified workers? Sometimes employees become underqualified due to changing technology or the development of new methods. However, training does come at a cost.

employee-trainingTraining employees costs time, money, and materials. Often, third parties are needed to conduct job training. Not only will there be missed time but there will also be additional costs. Another reason businesses often neglect to train employees is because of past training experiences. Sometimes the training was done poorly, or the topics were not on point and didn’t help. That could happen for several reasons. Failed training comes at a high cost, and often times businesses often don’t want to take that risk.

Not all training for employees also comes at a cost. Here are a few reasons untrained employees can end up costing you more than trained ones.

1. Untrained Employees = Unhappy Employees. Employees who feel inadequate, underachieving, or unsupported are unhappy. They aren’t satisfied in their work, which will cause them to underperform, make mistakes, and not care about their work. That costs the business in lost time and money.
2. Untrained Workers Have a Low Production Value. The quality of their work is of less value the quality in performance is lower than it could be.
3. Untrained Workers Are Inefficient. More time and effort is spent when employees aren’t fully or properly trained to perform their tasks or to fulfill their responsibilities. In short, it takes them longer to do the work.
4. Lost Time/Money Due to Mistakes. When an untrained worker makes a mistake, the time and materials used are lost because the work then has to be done again. Or worse, […]

By |Aug, 9th, 2016|Miscellaneous, Training|

6 Tips for Employee Motivation

Maintaining motivated employees can be difficult for a manager in any organization. At busy times, employees may feel overwhelmed and during the slow periods they may become passive and unmotivated. Regardless, it’s the responsibility of management to deal with this issue. Here are a few strategies for increasing employee motivation.

Create a Motivated Environmentemployee-motivation
The first step towards a motivated workforce is to create an encouraging environment for the behaviors you are trying to foster. You must determine who is enthusiastic and passionate and who is not. Shedding those derogatory influences will help creative a more positive environment that does not have to be constantly maintained. Embrace the motivated environment and in turn you will have a great group of employees who can become future company leaders.

Senior Management Visibility
It is a highly motivating factor if your employees see that the highest levels of an organization are invested in the success of new company initiatives. An engaged presence is necessary for motivating employees.

Communicate
Employees want to feel like a member of a team. It’s essential that management communicate the overall goals of the company so that everyone is on the same page when it comes to results. Accomplishing this makes it possible for team members to make good decisions and allows them to measure themselves against those goals. Employees must be informed of decisions arrived at management meetings and updates to company policies. Employees should be made aware of any new developments that will change how employees are evaluated and compensated.

Always Listen
This may be the most important aspect of employee motivation. Sometimes it’s the only way that managers can tell if they are doing the right thing – or not. Employees […]

By |Jan, 12th, 2016|Miscellaneous|

10 Disruptive HR Tech Trends to Look Out For in 2016

2016 is here and in the HR technology and recruiting space, organizations need to keep up with emerging trends in the industry. Below are some HR tech trends to look out for in 2016.

Bersin by Deloitte published a report at the HR Technology Conference back in October 2015 that features 10 big disruptions on the horizon for HR technology.

Mobile is the New Platform2016 image
With more than 2.1 billion smartphone users on the planet, it isn’t a surprise that HR is starting to leverage mobile as its new platform.

Some breakthrough areas in the coming year will likely to include engagement and feedback systems.

Designing HR Technology for End Users
Instead of designing HR software and applications specifically to make the jobs of HR professionals easier, many applications are now designed with the end user in mind – employees. New technology will enable employees to learn and collaborate, share feedback, set goals, steer their own careers and manage other people more effectively.

“The HR technology market is bursting with new applications that shift the focus toward more consumer-like experience and away from tools created to streamline the work of HR administration,” the report stated.

The Emergence of ERP Vendors
ERP vendors are quickly catching up as effective providers of talent management technologies to support processes such as recruiting, learning, and a range of people management tools.

Redefining HR Functions with Built-for-the-Cloud Providers
This “third wave” of talent solution providers come with consumer-like products, built for mobile and the cloud. They are thought to have a huge effect on several areas including payroll, learning technology, and employee engagement.

Feedback and Culture Management
Feedback and culture management will emerge as new software categories. Providers will be bringing together the world of performance management with feedback, […]

By |Jan, 7th, 2016|Miscellaneous|

IRS Announces 2016 HSA Contribution Limits

The IRS has officially announced an increase to the family contribution limits for a 2016 Health Savings Account (HSA).  The maximum contribution that can be made to an HSA tied to a high-deductible plan will be $6,750 for employees with family coverage, up from $6,650 in 2015.  However, the maximum contribution for those with single coverage will remain unchanged at $3,350.hsa

In addition, for 2016 a HDHP will be defined as health plan with an annual deductible that is “not less than $1,300 for self-only coverage or $2,600 for family coverage”.  Annual out of pocket expenses such as deductibles, co-payments, and other amounts that do not include premiums, will not exceed $6,550 for self-only coverage or $13,100 for family coverage.

This ruling is detailed in on the IRS’ official website, Revenue Procedure 2015-30, and takes effect in January.

By |Jun, 4th, 2015|Miscellaneous|

4 Major HR Tech Trends to Watch in 2015

Now that the new year is underway, it’s time to finalize budgets and put in your must-have projects for 2015. In the HR technology and recruiting space, it’s critical to keep up with market trends in this space. Below are a few trends to look out for on the 2015 horizon in HR technology.

Mobile is Stepping Up to Apps hrtech-trends
Companies will be stepping up their game in the push for mobile everything. The bar has been raised, and instead of mobile versions of a site or system, organizations will be rolling out mobile apps. Let’s face it – apps are easier on the eyes, simple to navigate and generally more efficient. Here’s what HR commentator, Josh Bersin of Bersin by Deloitte, has to say about the change:

“Vendors have to look at usage mechanics, user interface, and design of mobile apps. In a mobile device we “tap and swipe” rather than “click and type” – so if your HR system is not designed well for mobile, look carefully for a vendor that has made that investment.”

Push for Paperless
In the HR space, it’s been easy to continue with what’s comfortable – paperwork, spreadsheets, file folders and chasing signatures. In today’s world, there’s no reason not to go paperless. Not only does it save costs and is the environmentally sound thing to do, it’s keeps you more organized, searching for information is easier and there are so many options to reporting data. According to a survey by Xerox, many more organization are embracing the paperless environment than ever before. They found:

  • 78% have internal green communication programs to reduce paper usage.
  • 72% use online HR communications.
  • 58% have internal communication programs that offer employees tips and […]
By |Jan, 6th, 2015|Miscellaneous|

IRS Increases 2015 FSA Contribution Limit

FSAThe IRS announced in late October that the maximum annual contribution limit for health care flexible spending accounts will increase by $50, bringing the annual limit up to $2,550. This new limit will take effect FSA on January 1.

This is the first contribution increase since the Patient Protection and Affordable Care Act set a $2,500 annual limit, making it the second big change to the savings account in the last year.

Source: BenefitsPro

 

By |Nov, 10th, 2014|Miscellaneous|

Satisfied Clients Are Your Best Sales Resource

Buying any product today is easier because of the all research can be done beforehand by using your PC, tablet or smart phone. We have access to more information than we need with the Internet when it comes to comparing price, service and reliability.

There are many good products and services in the B2B market place today that create overload or constant indecision on the part of buyers.

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Sales organizations consistently look to improve performance and close ratios. The costs associated with recruiting, staffing and training sales people continues to escalate which makes it critical to understand where and how to attain the best ROI.

Sales people spend an ordinate amount of time trying to sell features and benefits to prospects in an effort to differentiate them from the competition. The sales process can take up to 3-6 months of discovery, fact finding, demos and research.

The most critical step, which sometimes gets overlooked and one that typically happens at the end of the sales process, is reference checking. Speaking with clients that have gone through a similar process with the vendor confirms the creditability of the solution or software and that the vendor has delivered on the value proposition. The client reference can speak specifically about the account management and implementation team that play a huge role in the relationship building and more importantly the delivery of client expectations.

Happy or satisfied clients are a company’s best sales asset. Make the investment in client satisfaction and improve your sales performance and bottom line.

By |Apr, 24th, 2014|Miscellaneous|