With the start of a new year just around the corner, it is an ideal time to reassess and strengthen your business’ existing HR Infrastructure in 2021. Now is the time to evaluate your existing workplace policies, and if necessary, implement new ones. Refining your HR strategies should be a top priority, and our Exodus HR Specialists have compiled their suggestions to strengthen your company’s HR programming.
Evaluate your payroll partner.
As 2020 comes to a close, it is essential to ensure your payroll provider is meeting your needs. Here are 4 key services your payroll partner should be providing:
- A state-of-the-art, cloud-based software that works with a single login across multiple devices.
- Comprehensive employer tax administration, including data reporting and payroll audits.
- Integrated time and attendance solutions, including time clocks when necessary.
- Direct access to a dedicated payroll coordinator who can answer questions and provide customer service.
If your payroll partner is not currently meeting your needs, contact the Exodus team to learn more about how to simplify and streamline your payroll process.
Prepare for new HR regulations and compliance requirements.
The end of a year and the beginning of another often means that new regulations and HR compliance requirements go into effect. Exodus HR Group clients work with PHR certified professionals to stay abreast of new city, state, and federal labor laws and regulations. The Exodus team will work with you to determine which regulations apply to your business, and ensure that you are always in compliance. Policies to evaluate this time of year can include paid leave, minimum wage, labor union laws, and workplace immigration.
Stay educated on changes in COVID-19 legislation.
The Families First Coronavirus Response Act (FFCRA) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s Wage and Hour Division administers and enforces this new law’s paid leave requirements. These provisions will apply from the effective date through December 31, 2020. As of right now, it is yet to be determined whether or not the paid leave will be extended into 2021. Your Exodus HR Group team will keep you educated on these important changes as they occur, and can assist you in determining which employees are eligible for paid sick leave and/or extended family and medical leave.
Budget for 2021.
Chances are you already have a set budget in place for HR in the new year. If that’s the case, take some time to start to allocate it by priority. What performance management system do you use and how much does it cost? Budget for recruiting, applicant tracking, and onboarding software systems as well as continuing education costs and training and development sessions. All of these are important pieces of your HR infrastructure that should be budgeted for appropriately to ensure you are attracting and retaining top talent.
Ensure benefits are in order.
Last but not least, getting employee benefits set for the new year is a necessary Human Resources step. If you haven’t already, be sure to finalize any details for your employees’ available benefits and any new benefits that you are looking to implement as you grow. Now is a great time to look at the full lifecycle of your employees to ensure you are getting competitive pricing on hiring, retirement planning, insurance costs and related liabilities. By providing a plan for your most valuable assets from hire to retire, you are ensuring you are staying competitive as an employer.
It’s important to regularly audit your HR infrastructure at several points throughout each calendar year and the end of the year is a particularly useful time to get organized to shore up your current HR infrastructure in 2021.
Looking for assistance revamping your HR, but without having to hire, train and maintain an internal HR department? We’d be delighted to partner with you as your trusted resource to meet your employees’ needs as well as compliance regulations.
Our team at Exodus HR Group is dedicated to providing customized, comprehensive human resource solutions for you to support your entire workforce. We want to help you clear distractions and focus on attracting and retaining top talent to allow you to focus on business growth and strategies. Contact our team today at (855) 931-3865 to learn more about how we can help you shore up your HR infrastructure in 2021.