Returning Value Blog

Health savings accounts are paired with high-deductible health plans for an especially adaptable insurance and savings program. HDHPs have large deductibles that members must meet before receiving coverage. Participants meet those deductibles by contributing their own money to HSAs. The government does not tax these funds as long as they're used to pay for qualified medical expenses.

Finding talent is an issue for nearly all businesses. There are many reasons for this, but the top three may be (1) adjusting to a new normal that is not yet fully formed, (2) the generational shift in leadership, and (3) the scarcity of talent. The result of this confluence of issues is that leaders must be able to be flexible. One of the ways they need to be flexible is learning new ways to manage a multigenerational workforce.

Do you outsource HR and IT but feel squeamish about letting someone else get too close to your numbers? You probably have a fluctuating need for a bookkeeper, an accountant, a controller, and a chief financial officer. You could hire all these people, but outsourcing can provide these services when you need them at significant cost savings.

Payroll compliance is about meeting your payroll obligations as required by law. Learn how your organization can stay compliant.

In most offices, someone from HR hangs the relevant Labor Department posters in the company breakroom, and that's that. But in this new remote world, what are the requirements? Send the posters to each employee and tell them they have to hang them in their kitchens? Actually, that's not necessary, but the DOL has published some guidance for companies that are partially or entirely remote.

The payroll tax rates and contribution limits for 2022 have been released, and there are lots of changes. Below are the federal payroll tax rates and benefits contribution limits for 2022.

According to a statement on the Centers for Medicare & Medicaid Services website, most consumers with private health coverage can go online or to a pharmacy or store, buy a test, and have their health plan pay for it, either upfront or after submitting a claim. "This requirement incentivizes insurers to cover these costs upfront and ensures individuals do not need an order from their health care provider to access these tests for free." The policy took effect on Jan. 15. The full details of the policy are available on the CMS website.

Below are federal payroll tax rates and benefits contribution limits for 2022.

When you manage a nonprofit, spending money is always an issue. After all, your company is funded by grants and donations, many of which have strings attached. It's your obligation to keep the organization lean and the overhead low. However, the bigger a company gets, the more money it can save by having a centralized department that manages payroll and staffing. It's also a good way to keep employees happy, thereby reducing turnover. So what should you consider as you decide how to add human resources services to your organization?

WHAT’S NEXT FOR EMPLOYEE MOBILITY?

For many businesses, the COVID-19 pandemic accelerated the future of work. Businesses are reevaluating their needs for travel, talent acquisition, and office space. Some have even transitioned away from the physical office entirely and opted to work 100% remotely. Businesses suited for remote work may be looking to hire the right person for the job, regardless of location; however, the ability to adopt a hybrid or fully remote model may be limited by industry. For example, a 2020 study by McKinsey found that the finance, management, professional services, and information sectors have the highest potential for remote work with no loss of productivity.