Your Monthly
Newsletter from Integrated Benefit Solutions
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February 2019
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Deadlines to Furnish Forms 1095-C and 1095-B to
Employees Fast Approaching
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The
IRS deadlines to furnish Forms 1095-C and 1095-B to employees in
early 2019 are fast approaching. The deadlines are as follows:
- Employers
with 50
or more full-time employees (including
full-time equivalent employees) generally must furnish a
Form 1095-C to all full-time employees no later than March 4, 2019.
- Self-insured
employers with fewer than 50 or more full-time employees (including
full-time equivalent employees) generally must furnish a
Form 1095-B to all responsible individuals--typically the
primary insured, an employee or former employee, or other
related person named on the application for insurance--no
later than March
4, 2019.
The
deadline for employers to file all Forms 1095-C and 1095-B with
the IRS remains February 28, 2019 (or April 1, 2019, if filing
electronically). For more information, read the instructions for
Forms 1095-C and 1095-B.
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Calculating OT? Double-Check Your Math
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Overtime
(OT) is typically calculated by multiplying an employee's hourly
rate by 1.5--pretty easy, right? It
depends who checks your math.
The Department of Labor (DOL) recently published an opinion letter
on pay rates, as they relate to calculating OT. According to the
letter, you can vary employees' average hourly rates from week to
week--assuming the average hourly pay is always above the Fair
Labor Standards Act's minimum wage threshold. However, employers
using this method should be cautious when determining OT pay. The
DOL specified that a company may not "arbitrarily choose the
regular rate of pay" on which to base OT--it must be based
on fact and "mathematical computation." In the simplest
terms, this means: use an employee's actual pay rate when
calculating OT pay.
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Retaining Talent: Are Your Leaders the Problem?
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It's
no secret that bad bosses can send employees running, but what's
considered "bad" these days? To many businesses, it
means being unempathetic.
Empathy is recognizing emotions in yourself and others, and using that understanding to
influence your actions. Lately, companies are seeking leaders who
exhibit high emotional intelligence because they maintain better
rapport with employees and can keep them on board.
In fact, when it comes to retention, an empathetic leader is
sometimes more important than pay, according to a recent study
from Businessolver. Over two-thirds of workers in sectors like
tech and health care say they would make concessions on pay if it
meant having a more empathetic boss. Moreover, 90 percent of
workers are more likely to stay with a company if it empathizes
with their needs, according to the same study.
Making it
Work for You
Experts suggest forming a culture of feedback at your company.
Employees at all levels should feel comfortable offering
feedback. Additionally, leaders should consider holding
one-on-one meetings with employees to discuss what they need for
success. Remember: when workers are comfortable sharing with
empathetic leaders, your business can focus on improvement and
growth.
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5 Must-Do's for Employee Orientation
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Employee
orientation is an important piece of HR and employee management.
A formal orientation is essential to setting a new hire up for
success and helping your company maintain the corporate image and
values you portrayed during the interview process. Employee orientation
can also be designed for current staffers who are being promoted
to a new position within the company and need a similar type of
program. Learn the must-do's for employee orientation in the
video below.
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