COMPENSATION MANAGEMENT

Congressional Review Service Report: 2021 brings Minimum Wage Hikes in more than 50 States

Congressional Review Service | January 12, 2021

In excess of 20 states saw minimum wage increases as 2021 began, as indicated by a report by the Congressional Review Service (CRS).

In New York, for example, the statewide least expanded to $12.50 every hour on Dec. 31, per CRS. Cheap food employees outside of New York City saw an expansion to $14.50 every hour that day and will see an increment to $15 every hour starting July 1, 2021. Fast food workers situated in the city had their lowest wage permitted by law expanded to $15 every hour starting Dec. 31. New York is one of five expresses that likewise will turn out the lowest pay permitted by law increments not long from now, alongside Connecticut, Nevada, Oregon and Virginia.

Wages likewise expanded in 32 cities and counties close by Jan. 1, as indicated by a report by the National Employment Law Project. Twenty-seven of these areas pushed their essentials past $15 every hour. Eighteencities and counties will make extra increments later in the year, 13 of which will have least wages set above $15 every hour.

Spotlight

The infographic below pulls together some of the employee engagement statistics that we’ve found along the way. It is clear that employee engagement has a direct impact on service, sales, quality, safety, retention, profits and total shareholder returns.

Spotlight

The infographic below pulls together some of the employee engagement statistics that we’ve found along the way. It is clear that employee engagement has a direct impact on service, sales, quality, safety, retention, profits and total shareholder returns.

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TALENT MANAGEMENT,EMPLOYEE ENGAGEMENT

Leading Organizations Choose Qualtrics to Attract and Retain Top Talent

Qualtrics | July 29, 2022

Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced that hundreds of organizations worldwide, including M&T Bank and Merck KGaA, Darmstadt, Germany, selected its employee experience solutions in the second quarter of 2022 as companies look to attract and retain the best talent, increase employee engagement and improve productivity. “Right now, organizations across the world face economic uncertainty and are laser-focused on retaining their top talent, Companies that are able to create and preserve a happy, engaged and productive workforce differentiate themselves by listening to, understanding and acting on the needs of their employees in real time — and Qualtrics’ Employee Experience platform allows them to do so at scale.” -Brad Anderson, Qualtrics’ President of Products and Engineering. Retaining top performers is the No. 1 priority of most C-suite leaders, according to a recent Qualtrics study, and 72% of executives say they’ll spend more on staffing and retaining their workforce in 2022 and beyond — up from 62% a year ago. Economic shifts can cause employees to become distracted, disengaged and burned out, so companies must take action to keep their best employees engaged and productive. With Qualtrics’ EmployeeXM™, companies can listen to their employees in real time to understand what specific and individual needs they have, then take action. Doing so, engenders trust, in turn helping companies retain employees. In fact, of those who say they’re planning to stay with a company for more than three years, 81% say they trust their manager. Only 49% of those who plan to stay for less than a year say they trust their manager. In the second quarter, the following organizations chose Qualtrics to better understand their employees’ emotions, efforts and intent in order to create more personal and empathetic experiences: As a purpose-driven, community bank with approximately 1,000 branches and 22,000 employees, M&T Bank (M&T) knows that listening to employees and empowering them to make a difference in their communities is key to the success of their brand, as they grow and adapt to increasingly digital industry standards. Following its recent acquisition of People’s United Bank, M&T expanded its existing Qualtrics CX program in Q2 with Qualtrics EX solutions. By approaching experience management holistically across customers and employees, M&T aims to better address employee needs so they can continue to focus on delivering exceptional customer service and help their communities thrive. Qualtrics extended its relationship in Q2 with German healthcare, life science, and electronics multinational, Merck KGaA, Darmstadt, Germany, which employs 57,000 people across 66 countries. As the company continues to invest in using experience data and insights to foster its employee experience, it chose Qualtrics EmployeeXM to further enhance its employee and leadership development program. The program is designed not just to provide development feedback and suggestions to the individual, but also to detect skills and culture gaps across the organization for it to address. About Qualtrics- Qualtrics, the leader and creator of the experience management category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 16,750 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about.

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EMPLOYEE BENEFITS

LBMC Employment Partners Named Top Employee Benefits Consultant for 2022

LBMC | July 08, 2022

LBMC Employment Partners, a leading Professional Employer Organization (PEO), HR outsourcing, payroll service bureau and benefits broker based in Nashville, TN, is pleased to announce it was named a Nashville, Chattanooga, and Knoxville Top Employee Benefits Consultant for 2022 by Mployer Advisor for the second year in a row. The announcement follows two other key strategic initiatives for the rapidly growing company – its expansion into the Charlotte market and the addition of Anna Maddox as Chief Human Resources Officer. As benefit brokers, LBMC Employment Partners represents all major U.S. carriers, including Aetna, Humana, and United Healthcare. “We are honored to be named to this prestigious list for the second year in a row by Mployer Advisor, a leading independent platform for employers to research, review, and evaluate insurance advisors,” said Sharon Powlus, President/CEO, LBMC Employment Partners. “We are honored to be named to this prestigious list for the second year in a row by Mployer Advisor, a leading independent platform for employers to research, review, and evaluate insurance advisors,” said Sharon Powlus, President/CEO, LBMC Employment Partners. “The 2022 winners account for less than 5% of all brokerages nationwide. To be recognized in this group and as one of only 12 brokers in the Nashville area is such a distinction. This award is a testament to the hard work and outstanding client service of our team members.” Mployer Advisor is a leader in connecting employers and employees to great benefits. The firm created its inaugural Top Employee Benefits Consultant Award Program last year, which evaluates brokers based on industry experience, company size, online ratings and reviews and recognizes those with a track record of success among employers, insurance providers and peers. About LBMC Employment Partners LBMC Employment Partners, LLC, a member of the LBMC Family of Companies, is a world-class professional services firm. LBMC Employment Partners provides a comprehensive suite of human resource-related services to businesses, including Professional Employer Organization (PEO) services, HR Outsourcing (HRO), Payroll, Payroll Tax Outsourcing, Human Resource Consulting, Employee Benefits, and ACA Compliance Consulting. As a proud partner and authorized reseller of UKG Ready, LBMC Employment Partners helps clients be successful by offering a full suite of automated, scalable tools through this unified Human Capital Management system. LBMC Employment Partners is also the only Tennessee-based PEO to receive the Certified Professional Employment Organization (CPEO) designation in the first round of IRS certifications. For more information visit www.lbmcep.com. About LBMC LBMC is a top 40 accounting and business consulting firm that provides complex, unique advisory and compliance solutions to over 10,000 clients across the nation. The firm’s broad range of services includes tax, audit & assurance, transaction advisory, cyber risk services, litigation & valuation, healthcare consulting, data insights, growth and innovation, staffing and HR outsourcing, technology solutions, financial outsourcing and procurement, and high net wealth planning and management for family offices and individuals. Primary industries include healthcare, technology, manufacturing, private equity, real estate and construction, professional services, and not-for-profit. LBMC is a top 3 firm in Nashville and a Pacesetter for Growth as well as a Top 5 Regional Accounting firm on Accounting Today’s 2022 Top 100 Firms list, and a 2022 Forbes Top Tax and Accounting Firm. Proud to be a national Certified Great Place to Work for two years in a row, LBMC has more than 750 team members with offices in Chattanooga, Nashville (Brentwood), and Knoxville, TN and Charlotte, NC.

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HR PRACTICE

Unum Technology Solutions at the Forefront of the New World of Work with Innovative HR Offerings

Unum Technology Solutions | June 24, 2022

In response to the evolving needs of employees in a cutthroat talent market, Unumoffers a range of technologically advanced solutions. Support for employees' mental health and employee recruitment and retention are two of the top HR concerns in the workplace, according to recent Unum research. According to Unum research, more over half (56%) of American workers reported feeling mentally ill. According to Polly Nicholas, SVP Unum Solutions, the company is at the forefront of assisting workers when they require time off from work and saving employers' time when handling benefit administration. "Unum has always been an organization that helps the working world thrive throughout life's moments. When you consider what the world has gone through in the last few years, now, more than ever, we are in a profound sort of touchstone for how we can show up for people." - Polly Nicholas, SVP Unum Solutions "Our internal data shows there was a 37% growth in Unum disability claims paid and 55% increase in leaves administered. When you couple that with the national conversation around leave, mental and financial wellness, our portfolio of solutions can provide meaningful support for America's workers and businesses," Nicholas commented further. Businesses benefit from Unum's service and technological solutions as they adapt to the needs of a changing workforce. The range of online services include: Support Time Away: Unum Total Leave and Unum Leave Logic offer simple-to-use tools for managing and planning leaves of absence, elevating the employee experience and providing reliable data for HR. Integrate HR Systems: To ensure seamless setup, management, and access, Unum HR Connect may be integrated with the best HRIS suppliers. Enhance Workforce Wellness: Unum Behavioral Health gives employees more access to individualized experiences and gives businesses resources to lessen the stigma associated with mental illness.

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