It may seem hard to believe but the end of 2020 is rapidly approaching. You can utilize end-of-year preparations to set up your organization for success in the new year. Planning now will allow you to hit the ground running in 2021 with an updated benefits strategy, a refreshed outlook on culture and targeted goals.
Where should you start?
Plan Ahead for Open Enrollment
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When preparing for your 2021 benefits package, HR should work with brokers to take a proactive approach to open enrollment that considers challenges teams may face in the coming year
Communicate Reminders to Employees
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From submitting FSA information to updating personal information, HR can stay ahead of yearly compliance (and administrative headaches) by regularly communicating key reminders to teammates before they leave for the holidays
Address COVID-19 Concerns
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It’s still too soon to tell when the COVID-19 outbreak will abate and workers can safely return to offices and worksites. Update your safety plan accordingly and make sure that you have appropriate communications prepared for testing strategies, rehiring former employees, and return-to-work letters
Keep an Eye on 2021 Compliance
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Heading into a new year, the IRS often makes adjustments to required forms like 1095-Cs and even overtime thresholds and HSA contribution limits. Don’t miss these vital updates—and communicate changes to your team, when applicable
Audit Your PTO Policy
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When was the last time you reviewed and updated your PTO policy? With coronavirus and changing employee benefits preferences, consider making changes to your PTO offering
Consider Your Culture
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Take a look at your company culture. What’s working? What isn’t? Consider what changes you could make to improve retention, recruitment, and engagement—and find out how an HRIS can help you achieve these goals
Watch the Compliance Calendar
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Don’t let yourself get swamped with new-year compliance deadlines. A comprehensive compliance calendar can help you stay on top of these important dates, even before the year begins
Our team is happy to help with your planning process for 2021, please let us know if you are interested.
Source: Bernie Portal
