If we learned anything from the last two years, it is that we need to adapt in how and where we work. We learned that the world is becoming increasingly more home-centered as work becomes a virtual instead of a physical environment.
Here we are over a year after the COVID-19 pandemic closed office doors throughout the country and employees were forced to quickly adapt to their new at home working environment. The pandemic has unquestionably strained employers and HR professionals to alter how they operate and added means to communicate. And although more and more individuals have the opportunity to become vaccinated, most organizations do not see the workplace going back to normal any time soon. If a business has not done so already, it is imperative to implement a remote work policy outlining expectations for work hours and necessary measures for security of company information and publish to the Employee Handbook.
The American Rescue Plan Act was enacted on March 11,2021 and has substantially changed and extended provisions of The Family First Act (FFCRA) that was to expire on March 31, 2021. Human Resource leaders are awaiting the IRS to provide guidance and interpretation of this new Act. Below is a current summary of what we are able to decipher of the new Act.
The Coronavirus Aid, Relief and Economic Security (CARES) Act has now extended the provision to add student loan payments as part of Tuition Reimbursement under Section 127 of the IRS Code through December 31, 2025.
This four-year extension provides a more acceptable provision, allowing Companies to build a great Retention Program knowing it will be around for a at least 4 years and, and thus attracting Candidates to join their Companies. Due to the rising debt of student loans and a political movement to help students repay their loans, there are strong indications that Congress is expected to make this temporary change permanent. Before the recent permission of the CARES Act employees and employers both were required to pay the payroll taxes on student loan paid by an employer.
Well, we all know 2020 was quite the challenging year for so many businesses throughout the nation as the Coronavirus pandemic unwelcomely inundated routine working operations. Organizations were radically forced to spotlight their HR department to guide environmental changes and navigate functioning processes, prioritizing workforce concerns. 2021 is starting off a bit unpredictable; plausible given the circumstances that last year unveiled and there is no going back to “normal.” This year we are sure to endure more ongoing transitions as companies continue to adapt to their current dynamic surroundings.
Although we like to think that women are equals in the modern workplace, reality suggests otherwise. Despite all our progress, women are less likely than their male counterparts to get raises, win promotions, and be recognized for their work. There are a ton of reasons for this, from perceived ability to resume gaps and more.
Distress in the workplace lately? You’re not alone. Flex HR consultants often get asked to come speak to business in various industries regarding the vital HR functions to keep their businesses sustained properly. Thus, Flex HR offers a Human Resources Bootcamp for business owners and managers.
Flex HR’s CEO, Jim Cichanski, along with Senior VP Dr. Cascone are excited about conducting the third annual HR Bootcamp for owners and Practice Managers for Veterinary Practices. HR Bootcamps are 3 day sessions covering HR hot topics including HR trends, Employee Handbooks, On-Boarding, HR Audits, employee retention, performance management, Generation Gap and Compliance. The audience is targeted towards business owners wanting to understand the key factors in managing their Human Capital.