HCM Insights August 2021

Upcoming Holiday

Labor Day

In observance of Labor Day, CBIZ HCM offices will be closed on Monday, September 6, 2021. Since Labor Day is a Federal Reserve Bank Holiday, payroll draft dates will need to be adjusted.

As always, your CBIZ HCM team is here to help should you have questions. We appreciate your continued partnership, and we wish you and your business the best of health. Please contact your payroll services team if you have any questions.

Important Payroll Deadlines

Labor Day also marks the beginning of National Payroll Week (September 6-10), a perfect time to highlight and celebrate the importance of the payroll industry and the crucial role payroll professionals play in the oversight of accurate, timely payment of workers throughout the country.

For tools and resources on celebrating this week, visit the American Payroll Association’s National Payroll Week website.

Is Remote & Hybrid Work Here to Stay?

The concept of telecommuting was coined over forty years ago by NASA engineer Jack Nilles, who was working remotely on a complex communication system. While working from home is not a new concept, no one could have predicted the shift that took place in early 2020.

In fact, remote and hybrid workplace management is among one of the 5 HR Technology Trends to Monitor in 2021. Many employees have been afforded a remote or hybrid opportunity thanks to innovation and the availability of technological resources, plus the flexibility many organizations have exhibited as they were forced to adapt to changing circumstances. As odd as it may seem, we may have the COVID-19 pandemic to thank for the ongoing focus on remote and hybrid work.

Before the pandemic, only six percent¹ of the workforce worked primarily from home, but seemingly overnight the number grew to thirty-five percent². Companies had a new reason to find solutions that would allow employees to work remotely. Organizations that invested in proper technology in turn have successfully implemented remote and hybrid workplace options. Many created a virtual workplace that fosters a collaborative environment where team members communicate effectively and work efficiently, despite the logistical challenges at hand. Employers who were once reluctant to embrace the idea of employees working from home found and have adopted solutions that made it possible.

Just as the pandemic changed the way many of us work, it has also accentuated the ever-changing expectations of employees and job seekers. According to a 2021 workplace survey, a more flexible schedule (including hybrid work arrangements) and generous paid-time-off are among the top requests. With this top of mind, many employers are seeking permanent, full-time remote, and hybrid options to further increase employee retention and attract top talent.

¹ US Census Bureau  |  ² U.S. Bureau of Labor and Statistics

CBIZ Named Best and Brightest to Work For

For the sixth consecutive year, CBIZ has been selected as one of the Best and Brightest Companies to Work For In the Nation. This designation comes from the National Association for Business Resources which strives to recognize the most influential, trend-setting companies across the country and regionally in focused programs.  The award is given to organizations throughout the nation that display a commitment to excellence in their human resource practices and employee enrichment. Organizations are assessed based on categories such as communication, work-life balance, employee education, diversity, recognition, retention and more.

Understanding Workers' Compensation

how well do you understand workers' compensation and the steps you should take when a work-related injury or incident occurs? if you are like most organizations, you already have set policies and procedures in place. these policies provide an important roadmap for staff and supervisors to follow, while making sure you remain compliant with state laws.

 

However, having procedures in place is just the beginning. Employers should also educate their team on the appropriate actions to take following an incident. One thing to keep in mind is that the first two days following an on-the-job injury are critical. Studies show the more quickly the workers’ compensation process is initiated after an injury, the lower the overall direct and indirect costs of a claim. Just forty-eight hours after an incident occurs, injured employees and witnesses start to forget crucial details, and recollections may become skewed by the opinions of outside parties, such as an attorney or other individuals.

Steps to take after a work-related injury

• Assist the employee in seeking medical attention
• Perform an assessment or accident investigation
• Take immediate action to prevent any additional accidents or injuries
• Report the injury/accident/illness
• Inform affected employees about your organization’s return-to-work program. Consider the following CBIZ article which outlines 10 steps to create an effective workers’ compensation return-to-work program.

Other Considerations

Work-related injuries cost $171 billion annually, according to recent data (2019) released from the National Safety Council. Only a portion of those costs are direct costs that workers’ compensation insurance covers such as legal fees, employee wage benefits, or medical payments. This leaves employers facing significant exposure to indirect costs not covered by workers’ compensation insurance such as hazard mitigation costs, OSHA fines, repair costs, and even insurance premium expenses.

Fiscal Unemployment Insurance Rates

Fiscal Unemployment Insurance (UI) rates are set to be released by state unemployment tax agencies in New Jersey, New Hampshire, Tennessee, and Vermont. 

We request that you forward this information to the CBIZ Tax Department via email, fax, or regular mail service. 

Contact Information

Email
cbizpayrolltax@cbiz.com

Fax
540-343-5279

Mailing Address
2797 Frontage Road NW
Suite 2000
Roanoke, VA 24017

 Visit the Insights Home Page