Check out our PDF chart below for a list of upcoming minimum wage increases (click the image for the full report):
HR Newsletter: New HSA Limits for 2024
On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year.
These limits include:
| 2024 | 2023 | |
|---|---|---|
| Contribution Limit (Individual) | $4,150 | $3,850 |
| Contribution Limit (Family) | $8,300 | $7,750 |
| Catch-up Contribution (Age 55+) | $1,000 | $1,000 |
| HDHP Minimum Deductible (Indiv) | $1,600 | $1,500 |
| HDHP Minimum Deductible (Fam) | $3,200 | $3,000 |
Contact us with any questions or needed guidance related to employee benefit plans.
HR Newsletter: EEOC Releases New Resource on AI and Title VII
The U.S. Equal Employment Opportunity Commission (EEOC) recently released technical assistance focusing on preventing discrimination against applicants and employees because of employers’ use of algorithmic decision-making tools when making employment decisions. The document explains how key aspects of Title VII of the Civil Rights Act (Title VII) apply to an employer’s automated systems, including those that incorporate artificial intelligence (AI).
HR Newsletter: Job Openings Trend Back Up
The U.S. Bureau of Labor Statistics recently released its April Job Openings and Labor Turnover Summary. The monthly report revealed an unexpected 10.1 million job openings in April—compared with a revised 9.745 million in March—following three months of declines.
Economists expected 9.375 million job openings in April, according to consensus estimates on Refinitiv. Monthly job openings have dropped from the record of 12 million in March 2022 but remain well above the pre-pandemic benchmark of 7 million. The number of job openings is viewed as an indication of the strength of the labor market and the broader economy. The largest increases in job openings were in these sectors: retail trade; health care and social assistance; and transportation, warehousing, and utilities.
HR Newsletter: Small Business Employment Compliance – New Guide and Cheat Sheet
Small businesses play a crucial role in the U.S. economy and are frequently regarded as a major contributor to the nation’s financial growth. According to the U.S. Census Bureau, the majority of U.S. businesses have less than five employees. What constitutes a small business is typically the number of employees and the amount of money the organization brings in, but these can differ based on the industry.
Compliance obligations can present major challenges for small businesses and hinder an organization’s growth and future success. Small business compliance is complicated, as an organization’s legal obligations often depend on its size and location. Most small businesses must navigate many of the same complex legal and regulatory obligations as large employers but must do so with fewer resources.
HR Newsletter: Free Speech in the Workplace
Are employees allowed to say whatever they want if it relates to their views on politics, LGBTQ+ rights, and working conditions?
The First Amendment protects Americans’ freedom of expression, but it doesn’t prevent a private employer from setting its own rules or terminating an employee for saying something the organization doesn’t like. Although employees don’t have a constitutional right to free speech at work, employers should still be aware of any laws that protect workers’ speech in certain situations.
HR Chat w/Employco USA: Creating an Employee Referral Program
Join Rob and Jason for an HR Chat as they explore the benefits of implementing an employee referral program.
In this challenging hiring market, such programs not only help find qualified candidates but also reduce recruiter fees, save time on job postings, and increase employee retention. By offering incentives like bonuses or perks, organizations motivate their employees to actively participate.
Discover how an employee referral program can optimize your hiring process, save costs, and foster a motivated workforce.
Questions? We’re here to help: hr@employco.com
Press Release: LPGA Icon and World Golf Hall of Famer Amy Alcott Named Golf Ambassador at Employco USA
World champion golfer Amy Alcott has just been welcomed by national human resources firm Employco USA as their new golf ambassador. In her new role with Employco’s executive team, the golf icon will raise brand visibility for the firm and secure new business leads.
“I am excited to join Rob Wilson and the team at Employco USA as their golf ambassador,” says Alcott, who earned 29 LPGA wins during her long and storied golf career. “It’s an honor to partner with a successful people-first firm that has a demonstrated commitment to women in leadership positions and is built on the foundation of a family company with a time-tested reputation.”
Food Industry News: Pay Transparency and Equity at the Workplace
Employco recently had an article featured in Food Industry News magazine regarding pay transparency – the practice of openly sharing pay-related information with current and potential employees.
Read more here: “HR Matters: Pay Transparency and Equity at the Workplace.”
Let us know if you have any questions or would like more information, we’re here to help!
HR Chat w/Employco USA: Top Priorities for Employees
In this video, Rob and Jason take a look at a recent survey that Forbes released that ranks the top priorities for employees in the workplace. They discuss employee benefits, salaries, better placement opportunities, flexible work-from-home options, company culture, mental health assistance, employee engagement surveys, and more!
Questions? We’re here to help: hr@employco.com