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Benefits

Data is in: The commute for your employees is way more expensive

The one-two punch of high gas prices and rising costs related to driving could have the average American shelling out $2,914 a year to commute to work, according to a report by OverheardOnConferenceCalls.com. It’s a noticeable 35% increase over last year’s estimated average yearly commute cost of $757. The “Annual Cost of Commuting: 2022 vs. […]

by Brian Bingaman
August 4, 2022
Practical Ways To Support Staffers Struggling With Commuting Costs

Travel expense reimbursement for abortion, medical care could be taxable

With several states recently passing legislation restricting access to abortion services, some of your peers have been mulling over paying for medical care travel expenses that employees and their dependents incur because the services they seek are unavailable in their area. If your company’s considering such a travel expense program, be aware that payments/reimbursements could […]

by Brian Bingaman
August 3, 2022

Mark Cuban online pharmacy could be game changer for employee drug benefits

Your company could potentially save big bucks if employees buy their meds from a direct-to-consumer online pharmacy backed by NBA team owner, “Shark Tank” investor and billionaire internet entrepreneur Mark Cuban. Launched in January, the Mark Cuban Cost Plus Drug Co. sells generic prescription drugs – and only generic drugs – at the cost of […]

by Brian Bingaman
August 2, 2022

What to include in your employee workcation policy

A workcation – also known as “bleisure” travel – is when employees extend their business trip plans to enjoy sightseeing and other recreational activities. Allowing it is a good way to boost morale and encourage more employees to hit the road on company business, according to Dr. Jim Castagnera. In fact, 43% of business trips […]

by Brian Bingaman
July 27, 2022

Time to rethink your company’s paid leave policy?

Besides the adoption of remote and hybrid work schedules, the approaches your peers are taking with paid leave benefits for their employees seem to be getting more flexible as well. According to a recent leave programs survey conducted by Mercer, employees are looking for benefits that support their needs and obligations outside of work. As […]

by Brian Bingaman
July 7, 2022
Emerging Types Of Paid Leave Employers Are Adding And Considering

Proposed changes to reduce Social Security shortfall: Potential impact on you

Your Payroll pros could be seeing some big legislative changes down the road to reduce the Social Security shortfall – especially since certain measures have significant bipartisan support. In fact, both Republicans and Democrats are mostly in favor of altering the taxable wage base for Social Security benefits and other changes, according to recent data […]

by Jess White
June 30, 2022

Competitive compensation strategy: More than good pay needed to attract top talent

The ongoing Great Resignation is proof that an update to your compensation strategy may be in order. In fact, a study by Mercer found a majority of employers (70%) are re-evaluating their compensation and benefits because of challenges with attracting and retaining talent. Your peers are realizing that current and potential employees are looking for […]

by Brian Bingaman
June 24, 2022

IRS audits: Watch for these warning letters about your retirement plan

Be aware: IRS is starting to send letters to companies asking them to self-examine their retirement plans before selecting them for an audit. The agency’s Employee Plans department recently announced a compliance pilot program beginning in June 2022. Plan sponsors could receive a letter saying that their retirement plan has been selected for review. As […]

by Jess White
June 15, 2022

Socially responsible 401(k) options show employers take DEI seriously

Lately, senior management at businesses like yours has been feeling the need to get serious about diversity, equity and inclusion (DEI) and other socially responsible policies and practices. In a post on HRMorning.com, experts Stephanie Ashton and Monem Salam said this is how they’re putting their money where their mouth is: One way for employers […]

by Stephanie Ashton and Monem Salam, Finance Expert Contributors
June 2, 2022
Employee Benefits Trends

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Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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