HCM Insights July 2021

HCM Insights July 2021

Should You Require the COVID-19 Vaccination?

How many of your employees have received the COVID-19 vaccine? You may or may not know the answer to that question. Many businesses have adopted a don’t ask, don’t tell philosophy when it comes to employee vaccinations, while others feel they need to know. No matter the approach of your organization, it is important to remain compliant with applicable laws as you consider updating policies and training staff. 

 

Things to consider:

  • Equal Employment Opportunity laws do not prevent an employer from requiring all employees who physically enter the workplace to be vaccinated for COVID-19. However, to ensure nondiscrimination and maintain compliance with the Americans with Disabilities Act and Title VII of the Civil Rights Act, organizations must provide reasonable accommodation for employees who are unable or unwilling to obtain the vaccine due to disability or religious objections. 
  • Employers should also consider how they will handle pre-screening questions that may implicate the Americans with Disabilities Act and how to safeguard employees’ vaccination information. 

 

Have questions about mandatory vaccinations?  Click here to find answers to some common questions and links to more resources. 

 

Your Employees Face Cash Flow Challenges

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Cash flow is a financial concept commonly discussed and analyzed within any business. A company must maintain a certain level of cash on hand to pay for the cost of doing business, such as vendor invoices, utilities, and payroll expenses. Households run on the same principle. Individuals depend on the income they earn to manage financial obligations which can fluctuate week-by-week, if not day-to-day.


In most cases, Americans make enough to take care of their monthly obligations. Yet one-third of Americans struggle to pay their bills by the due date. Timing is usually the issue. The day an employee gets paid typically does not coincide with payment due dates, creating a potential gap. In addition to predictive bills, employees face the risk of unexpected expenses that can arise at any time. Often these situations result in employees turning to overdraft protection and payday loans to help fill in the gap, which creates a vicious cycle that is difficult to break.

Many organizations have already begun looking for solutions to help employees offset this financial challenge. One such solution is providing employees with Earned Wage Access or Wages On-Demand, allowing employees to tap into the wages they have already earned between paychecks. CBIZ partners with ZayZoon to offer Earned Wage Access at no cost to employers. Often this access can help employees better align inbound cash flow with expenses, helping them avoid late payment fees and high interest rates when they need money for last-minute expenses.

Along with Earned Wage Access, ZayZoon offers employees financial wellness tools, budget tools, and savings calculators to help employees take control of their finances and plan for the future.


Learn more about a single solution to offer your employees Earned Wage Access and Financial Education at no cost to your organization.

 

Juneteenth - New Federal Holiday

JuneteenthOn June 17, 2021, President Biden signed legislation that makes Juneteenth (June 19) a federal holiday. This is the first national holiday established since Martin Luther King Jr. Day in 1983. The new Juneteenth holiday did not impact payroll dates this year, but it will affect payroll dates for 2022 and moving forward. Juneteenth falls on a Sunday next year, and according to the Federal Reserve, the holiday will be observed on Monday, June 20, 2022. Keep in mind that our system will be updated to reflect the banking holiday but if you want to add a paid holiday to your CBIZ timekeeping software, please contact us.

Juneteenth is an annual holiday commemorating the end of slavery in the United States. Last year, CBIZ recognized Juneteenth with the announcement of our CBIZ Diversity and Inclusion Task Force and a commitment to work toward a comprehensive and long-term diversity and inclusion strategy. You can read more about CBIZ’s commitment in this statement on diversity from CBIZ CEO Jerry Grisko. Over the past year, CBIZ has welcomed the insights, ideas, and perspectives offered by its team members across the organization to promote a more diverse and inclusive work environment.


Check out this discussion with Steve Sublet, Chief Operating Officer of CBIZ Employee Benefits and Leader of the CBIZ Diversity & Inclusion Task Force, to learn more about the importance of diversity in the workplace.

 

Cybersecurity Best Practices

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In the first half of 2021, the United States has experienced several significant cybersecurity events including the disruption of a major gas pipeline on the east coast, targeting of government agencies, a cyber-attack on a major meat producer, and an attempt to poison the water supply of a Florida city, to name a few. According to a recent cyber threat report, there has been a 62% increase in ransomware globally since 2019 and a 158% spike in North America. 

 

These statistics and the impact of such events just go to show that no one is immune from the possibility of a cybersecurity breach, and now more than ever, businesses are taking action. For the first time, the Employee Benefits Security Administration (EBSA) as part of the Department of Labor (DOL) issued new cybersecurity guidance directed at plan sponsors, fiduciaries, and participants. The guidance provides tips for hiring a service provider, cybersecurity program best practices, and online security tips for plan participants. Although the guidance is directed toward plan sponsors and fiduciaries, it is pertinent to all facets of a business. 

Cybersecurity Program Best Practices

  • Establish a formal, well-documented cybersecurity program 
  • Perform annual risk assessments
  • Use third parties to audit your program 
  • Have strong access controls 
  • Conduct periodic cybersecurity training
  • Encrypt sensitive data 
  • Have strong technical controls that meet security best practices 
  • Appropriately respond to any cybersecurity breaches

 

Businesses need to stay up-to-date with cybersecurity best practices and assess their risk level. To help you understand your organization’s level of cybersecurity risk, download the CBIZ Cyber Risk Exposure Scorecard.

 

Fiscal Unemployment Insurance Rates

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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