HCM Insights January 2023

Upcoming Holidays

Martin Luther King Jr. Day

The upcoming Martin Luther King Jr. holiday falls on Monday, January 16, 2023. While CBIZ HCM offices will be open this day, this is a Federal Reserve Bank Holiday so payroll draft dates may need to be adjusted.

Important Payroll Deadlines

President's Day

The upcoming President’s Day Holiday falls on Monday, February 20, 2023.  While CBIZ HCM offices will be open this day, this is a Federal Reserve Bank Holiday, and payroll draft dates may need to be adjusted. 

Important Payroll Deadlines

Keep Payroll Running Smoothly Amid Winter Storms

Winter storms can bring about a wide variety of weather events and can create extremely hazardous conditions. Snow, sleet, and ice can create havoc. But don’t let unexpected weather events interfere with taking care of your business and your employees. Just as you take steps to prepare your facilities for winter storms, you should also plan ahead to keep your payroll processes running smoothly during the winter.

2023 Standard Mileage Rates

On December 29, 2022, the Internal Revenue Service (IRS) published the 2023 optional standard mileage rates. These rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

 HR Professional's Guide for 2023

Human Resources (HR) professionals continue to juggle various responsibilities while also working to anticipate the next HR trend. 2023 will be another busy year with inflation impacting employee pay expectations, more states requiring pay transparency, and a growing focus on employee well-being. As a result, HR professionals are often required to prioritize activities while proactively focusing on other workplace initiatives and improvements. CBIZ has put together a calendar to help HR teams stay on track.

The Return of “Normal” Benefits - With a Twist

The pandemic changed not just how employees work but how they think about work, and that includes what benefits they believe employers should provide. While health and leave benefits were prioritized over retirement benefits throughout 2020 and 2021, this year has seen employee preferences turning back to what they were pre-pandemic. This trend of benefits preferences returning to “normal” is likely to continue to dominate in 2023 but with a twist.

Women Transforming Business Award - Nominations Open

Nominations are now open for its third-annual Women Transforming Business Award. The award, powered by CBIZ’s Women's Advantage ("CWA"), honors leaders who have driven significant change within their organizations and communities in four categories: financial strength, innovation, culture and community impact. Nominations are now open, and finalists will be announced on International Women’s Day on March 8, 2023. Finalists will be recognized, and winners announced in a virtual event at the beginning of May, 2023.

We encourage you to nominate women who have demonstrated transformational impact on their businesses during the past year from now until January 31, 2023.

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The information contained in this HCM Insights is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations. This information is provided as general guidance and may be affected by changes in law or regulation. This information is not intended to replace or substitute for accounting or other professional advice. You must consult your own attorney or tax advisor for assistance in specific situations. This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.