Employee Benefits

DOL Issues Final Rule Setting Requirements for Registering "Pooled" Retirement Plans

DOL | November 19, 2020

The U.S. Department of Labor issued Nov. 16 a final rule setting requirements for registering "pooled" retirement plans with the Secretary of Labor before beginning operations.

The rule implements the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as the SECURE Act. The law amended the Employee Retirement Income Security Act to permit pooled plan providers to begin offering pooled employer plans, or PEPs, beginning Jan. 1, 2021.

Also established in the rule is a new form — the EBSA Form PR — that entities seeking to register a PEP must file. Form PR will also satisfy registration requirements with the U.S. Department of the Treasury, DOL said.

Last year's passage of the SECURE Act marked a key Congressional achievement on retirement-plan expansion. By some accounts, PEPs enjoyed bipartisan support in the years preceding 2019, according to a 2018 report from The Pew Charitable Trusts, but related bills failed to make it to a full vote.

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Other News
Payroll

BambooHR’s New Payroll Experience Benefits Admin Solutions

BambooHR | September 13, 2023

BambooHR, a leading cloud-based human resource platform, has introduced a new Payroll experience to complement its HR and benefits administration solutions. This innovative payroll system significantly streamlines payroll processes, reduces processing time by up to 80 percent, and enhances the overall HRIS and benefits administration platform. This Payroll experience is accessible through desktop and mobile platforms, providing flexibility and convenience for HR professionals and employees alike. It aims to create an integrated, accurate, and efficient payroll process. It significantly reduces the risk of errors and ensures employees are paid correctly and on time. This not only benefits organizations but also aligns with employee financial stability, given that many Americans live paycheck to paycheck. This is supported by the research by LendingClub, reporting that 6 in 10 Americans live paycheck to paycheck. Chief of Staff, Rockford Silk Screen Process, Rachael Schau, remarked, BambooHR and payroll together have saved me almost 20 hours a week, and we've honestly saved 20,000 dollars over a year. [Source: Cision PR Newswire] The introduction of the new Payroll experience reflects BambooHR's commitment to simplifying payroll and delivering an exceptional user experience for its customers. Payroll errors can have a significant impact on employees, leading to financial stress and mistrust. BambooHR's streamlined solution addresses these concerns while enhancing the overall efficiency. The new platform simplifies the intricate payroll process by eliminating double data entry, automating time tracking, and calculating employee compensation, deductions, and taxes accurately. This user-friendly interface allows for easy management of employee records, payment tracking, and report generation and ensures compliance with federal, state, and local regulations. Employees can access pay stubs and make withholding or direct deposit changes through the BambooHR payroll portal or mobile app. Chief Product Officer at BambooHR, Brian Crofts, stated, Our goal has always been to make payroll an integrated, always accurate, and even delightful experience for our customers. [Source: Cision PR Newswire] He added that their team has worked hard to ease the intricate, outdated process and that they’ve made that quick, clean and easy for HRs. To celebrate the launch, new BambooHR customers can benefit from a 75 percent discount on Payroll implementation costs for January 2024 payroll start dates. This offer further demonstrates BambooHR's commitment to supporting organizations in their HR and payroll needs. About BambooHR BambooHR is the foremost provider of cloud-based HR software solutions, offering a robust platform that empowers HR professionals in managing, nurturing, and fostering their workforce. The core mission of the company is to liberate individuals to excel in their work by streamlining, centralizing, and interconnecting employee data within a single comprehensive system, thereby facilitating informed decision-making. Its user-friendly and thoughtfully designed suite encompasses payroll, time tracking, benefits administration, performance management, and reporting solutions, catering to the entire spectrum of HR responsibilities.

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Workforce Management

Lattice Unveils HRIS to Enable HR Teams Better Manage Tech Stack

Lattice | September 22, 2023

Lattice, an innovator in people management software, has announced the introduction of Lattice HRIS, a cutting-edge human resources information system designed to oversee employee records seamlessly and integrate with Lattice's existing suite of talent products. This integration empowers customers to analyze vital metrics, unearth invaluable insights about their workforce, substantiate the success of their HR initiatives, and automate change management processes throughout their organization. Lattice HRIS has been developed to assist growing enterprises in linking essential performance, engagement, compensation, and employee development initiatives with the data, policies, and procedures essential for their triumph. Companies can join an exclusive early access program waitlist today, affording them the opportunity to explore Lattice HRIS and provide input on the product prior to its public release next year. Jack Altman, CEO and co-founder at Lattice, shared his perspective on this milestone, stating, Lattice has spent eight years building products that assist HR leaders create enhanced employee experiences to build more meaningful careers, from performance management to employee engagement surveys to career development to compensation management — all based on the idea that people are the central asset for any company. [Source – Cision PR Newswire] He added that they had identified an opportunity to build upon the achievements of their talent suite and establish connections between high-impact talent programs and the necessary policies, documents, and reporting tools required by HR leaders to obtain a comprehensive insight into their employees. He noted that the initiative also aimed to streamline their HR technology stack. A recent survey underscores the growing desire among CEOs for HR to assume a central role in their businesses, with 90% expressing this sentiment. However, only 45% reportedly believe that they are effectively nurturing conditions for HR's success. As a result, HR leaders are actively seeking innovative HR tools that will position their teams for success, elevate performance, and drive business outcomes while supporting the growth and engagement of employees, managers, and teams. As the first HRIS in the market to operate alongside a top-rated, adaptable talent management suite, Lattice stands uniquely positioned to deliver an HR platform tailored to the needs of today's strategic HR leaders. Lattice HRIS empowers HR teams to enhance efficiency, effectiveness, and excellence across their organization through features that enable them to: Facilitate seamless onboarding experiences that not only ensure the capture of accurate employee information but also empower employees to hit the ground running on their respective projects. Analyze people metrics with precision, enabling HR leaders and executives to save, schedule, and share crucial people-related reports. Enable teams to track and manage attendance, holiday calendars, and leave effectively, with intuitive visualizations of time off balances to proactively address burnout. Visualize, compare, and unearth actionable people insights that inform strategic decision-making, enhancing employee engagement, reducing turnover, and advancing diversity initiatives. Seamlessly integrate with globally renowned payroll, hiring, benefits, and identity management companies, guaranteeing a seamless HR experience that caters to the comprehensive needs of HR teams. Construct workflows that automate employee communications and mitigate change fatigue by ensuring the right information reaches employees at the right time. Sarah Walker, who serves as the Head of People at LTSE and has experience as a Lattice HRIS beta user, emphasized the significant potential for transformation offered by Lattice HRIS. She observed that integrating strategy and performance is the pivotal role HR can fulfill within a company. According to her, there is a need to establish greater efficiencies to support the efforts of their people leaders in this regard. Sarah Walker pointed out that Lattice HRIS provides a consolidated platform for their people leaders to address these requirements and facilitate the deeper integration of HR into the business. Mid-sized US-based entities can now enroll in the early access program. About Lattice Lattice's people management platform offers an interconnected and intuitive suite of HR tools designed to drive excellence and nurture people-centric cultures. Combining an HRIS with continuous performance management, employee engagement surveys, compensation management, and career development tools, Lattice's platform empowers HR teams to invest in their people and accelerate business outcomes. With a presence in North America, the UK, and Europe, Lattice serves over 5,000 customers worldwide, including Gusto, Slack, Ramp, Intercom, Tide, and many more. The company has earned a spot on the Inc. 5000 list of the fastest-growing private companies for four consecutive years and boasts a 99% Great Place to Work rating among its employees.

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Workforce Management

Beeline Transforms Extended Workforce Management with New Products

Beeline | September 15, 2023

Beeline, a leading technology solutions provider for overseeing the global extended workforce, has unveiled two new products designed to tackle workforce challenges that were previously unaddressed in the industry. These innovations, known as Beeline Professional and Global Workforce Intelligence, represent a significant step forward in the management of extended workforces. With a wealth of experience spanning over twenty years, Beeline has played a notable role in shaping the evolution of the extended workforce industry. In recognizing two major shortcomings within the industry—vendor management systems (VMS) primarily catering to large enterprises and the untapped potential for talent visibility and compliance—Beeline has launched these additions to the Beeline Extended Workforce Platform. Beeline Professional has been crafted to meet the specific needs of emerging and expanding extended workforce programs. It stands as the first VMS solution that can be effortlessly activated, featuring pre-configured templates, workflows, dashboards, and reports modeled after the best-in-class programs. Beeline Professional brings scalable extended workforce management, automation, and efficiency to companies with annual non-employee labor expenditures ranging from $1 million to $25 million. Doug Leeby, Beeline's CEO, stated, For far too long, extended workforce solutions have catered to enterprises and ignored the unique needs of mid-sized programs. Using insights from over the last 20+ years in the industry, Beeline Professional is uniquely tailored to meet the core needs of mid-sized programs without compromising quality and innovation. [Source: PR Newswire] Up until now, achieving complete visibility across an organization's entire extended workforce has been a challenge for enterprises. Global Workforce Intelligence, however, offers a solution by aggregating data not only from the company's VMS but also from other systems housing external workers that are not captured in the VMS. This comprehensive workforce visibility enables thorough accounting, analysis, and proactive risk management across the entire extended workforce spectrum. Importantly, Global Workforce Intelligence is compatible with any VMS, not limited to Beeline's. Extended workers play a crucial role in an organization's overall workforce and talent strategy. Beeline's mission is to empower companies to gain a competitive edge by optimizing their extended workforce. The introduction of these two innovative products marks another milestone in Beeline's journey toward fulfilling this mission. About Beeline For over two decades, Beeline has been a competitive force in empowering global businesses to gain an edge in the industry through effective management of their extended workforce. The Beeline Extended Workforce Platform equips companies with the essential visibility needed to proactively mitigate risks, achieve cost savings, and adapt to evolving business needs. Beeline specializes in delivering tailored solutions that specifically address the intricate challenges posed by the extended workforce. Clients benefit from a diverse range of Beeline products, designed to cater to their unique requirements. Through seamless integration capabilities, Beeline's clients can effortlessly consolidate their extended workforce data from various technology platforms, including major procurement and HR systems, enabling a comprehensive approach to workforce management.

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Employee Experience

KellyOCG Introduces Kelly Helix Analytics for Human Cloud Solution

KellyOCG | September 20, 2023

KellyOCG, the consulting and outsourcing arm of Kelly, has unveiled the latest iteration of the Kelly Helix technology platform. This unveiling marks the debut of two groundbreaking solutions: Kelly Helix Analytics and an upgraded Human Cloud solution, both designed to elevate user experiences and deliver enhanced value to clients. Kelly Helix Analytics represents a significant step forward in their Talent Analytics portal's evolution. It leverages cutting-edge technical architecture to deliver real-time, customized data to clients, thereby enhancing the effective management of their external workforce. This innovative solution introduces unparalleled transparency, providing businesses with a comprehensive view of their external workforce, encompassing global rates, performance metrics, and supply chain efficiency. The newfound clarity enables organizations to develop more agile and effective workforce strategies. Kelly Helix Analytics offers the ability to tailor dashboards to specific user groups. This customization ensures the delivery of real-time, relevant, and actionable information to hiring managers and stakeholders. These insights enable better decision-making and increased productivity. Accessing KellyOCG's enhanced Human Cloud solution through Kelly Helix UX streamlines the process of acquiring and managing freelance talent for businesses. This simplified access empowers businesses with the confidence to identify the right individuals for their specific tasks. Streamlining engagement, KellyOCG provides an intuitive platform for businesses to independently search for and engage with freelancers. This simplifies the talent acquisition process, making it more efficient. Tammy Browning, President of KellyOCG, expressed her enthusiasm about the platform's evolution, stating, I am delighted to announce the strategic progression of the Kelly Helix technology platform. When we introduced Kelly Helix UX in 2021, our objective was clear: to enhance our clients' experience and simplify their journey. [Source: Cision PR Newswire] The tool empowers hiring committees to actively participate in talent acquisition by directly searching for and selecting freelancers aligned with their specific needs and criteria. Furthermore, the solution offers enhanced visibility into the freelance workforce, providing businesses with valuable insights. These insights empower decision-makers and optimize resource allocation. As industry leaders in talent management, KellyOCG ensures that clients remain at the forefront of the Human Cloud revolution. This allows organizations to confidently access the global pool of freelancers, supported by our trusted expertise. About KellyOCG KellyOCG connects companies with the talented people they need to fuel and grow their business through a global talent supply chain and workforce solutions, including Managed Service Provider and Recruitment Process Outsourcing. With decades of industry experience and a commitment to technology-driven solutions, KellyOCG serves a global client portfolio across various industries in North America, APAC, and EMEA.

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Spotlight

An astonishing 70% of employees aren't engaged at work & 40% of employees would work harder if they were happier in their roles!

  • Motivation is the key – it sparks innovation, boosts productivity, and fosters engagement.

  • Understanding motivators prevents employee disengagement and unlocks the potential of your team.

  • Motivation improves employee retention.

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