2020 VISION: KEY HR TOPICS FOR THE YEAR AHEAD
The New Year is always marked by new regulations and recommendations to ready your workplace. This year is especially dynamic, and HR Choice is here to help you navigate the process. Take our “vision test” below to see if you are prepared for the changes you’ll see in 2020.
Election Year – Any election year can bring uncertainty when it comes to new policies affecting the culture of small businesses and HR. Issues like immigration, the Affordable Care Act, international trade agreements, paid leave, and taxes are sure to be discussed, and they can have a major impact on your company’s practices. This coupled with the risk of employee distractions or polarization, may make now a great time to review your social media policies.
FLSA Changes - Starting on January 1, 2020, the salary threshold for the executive, administrative, and professional exemptions rose from $455 per week ($23,660 annually) to $684 per week ($35,568 annually). Colorado employers also need to be prepared that beginning on January 1, 2021, the minimum salary threshold for exempt employees in Colorado will increase further to $40,500 annually.
Pay Audits – Equal Pay is becoming increasingly important at the state and local levels. It is crucial that employers are performing regular audits and immediately confronting any disparities by eliminating salary history questions, engaging in transparent and consistent compensation practices, and citing defensible reasons for any differences in pay. Contact us for a pay audit
Trends in the Workplace – The Society of Human Resources Management (SHRM) predicts that 2020 will be defined by labor gaps in the skilled trades, creative approaches to develop workplace culture, a focus on technology, and increased efforts to enhance employees’ well-being. The war for talent is more competitive than ever, so employers are following suit by pursuing new ways to engage diverse candidate pools and to develop the workforce of the future.
Old Files - The New Year is the most common time to revisit your employee file record-keeping resolutions. This is an ideal time to refer to your employee file record retention guidelines (or call us if you don’t yet have one) and purge old employee documents accordingly. Contact us if you would like a copy of our Recordkeeping Guide or an audit of your files and records.
New Forms – Remember to use the new Form I-9 for 2020 for new hires and perform a quick audit on your existing documents to make sure you’re in compliance. The Form W-4 also went through a major overhaul this year. Say goodbye to the allowance field!
Gen-Z – We usually don’t believe in generation stereotypes, but it’s worth noting that Gen-Z can offer some extreme benefits within your company if you can attract them. They are known to be deeply rooted in the company’s mission and culture, entrepreneurial and tech-savvy, and very progressive. Born 1995 and after, this generation is the next to be targeted as future employees and consumers, so consider ways you can tweak your culture to welcome the newest members of the workforce.
These are just a few of the “employer” issues you are likely facing / will likely face in 2020. Remember, for those times you’re having blurred vision and not quite clear about what to do be sure to