Monthly Newsletter October 2019
Dear Valued Clients and Associates, I just wrapped up 2.5 days at the Garden State SHRM conference in Atlantic City. I visited with some great vendors and attended some interesting break out sessions. The highlight for me was the closing Keynote speech by Dr. Richard Pimentel… and to think I considered leaving early… I’m so glad I stayed! Dr. Pimentel was inspiring. He told his story and shared gems of wisdom on leadership, character, the power of having someone believe in you, response-ability and chasing your dreams… all with an incredible sense of humor that had the crowd in stitches. His words struck a chord and have provoked a lot of thought. Don’t change your dreams to fit your circumstances, change your circumstances to fit your dreams, he advised… and that is just what I did when I chose to join PF Compass. I wanted to have a bigger...
read morePlanning for Open Enrollment
Planning for Open Enrollment By Maggie Johnson As we go into the fall, most companies will begin the process for Open Enrollment. Open Enrollment for many employers will be held in November and sometimes into December of 2019 for the 2020 plan year. To ensure your Open Enrollment goes smoothly, here are some suggested tips. Employee’s Share of Premium Most employees share the cost of the premium for health insurance coverage with their employer. For 2020, it is predicted by the Mercer National Survey of Employer-Sponsored Health Plans that the total health benefits costs per employee will increase by 3.9%. According to AON Consultancy’s 2020 Global Medical Trend Rates Report, healthcare benefit cost is expected to rise by 6.5% in the US. However, whether a health insurance plan is self-insured or fully-insured, the company’s claims experience is normally reflected in that company’s healthcare premium rates, and may...
read moreMonthly Newsletter September 2019
Dear Valued Clients and Associates, All things fall are on their way – the kids are back in school, pumpkin spice lovers have their coffee and beer back in season, temps are dropping and the leaves are starting to change to the beautiful orange, yellow and red that make autumn picturesque. Many folks are starting to shift gears in preparation for third quarter and year end activities. Vendor evaluations for new year transitions and upgrades are under way, or at least, they should be soon. This is a great time to take a look at the benefits you are offering your workforce – are you and your employees getting the best bang for the buck on your health insurance policies? And when was the last time you benchmarked your 401k? We can help – no strings attached. We’d love to come meet you, learn about what is important to...
read moreRomantic Relationships in the Workplace
Romantic Relationships in the Workplace by Maggie Johnson When two people spend a lot of time together, a romantic relationship may develop between them. In a recent survey by Namely, 40 percent of the survey’s participants indicated that they’d had a romantic relationship with a co-worker, with five percent of them having had a romantic relationship with their boss or a direct report. A 2017 CareerBuilder study showed 41 percent of professionals have dated a co-worker with 30 percent of office romances resulting in marriage. While a blooming romance may be a happy thing, in the workplace, it can spell big trouble! For a couple working alongside each other, and who are engaged in a romantic relationship, here are just three issues that could spring from that situation: Office gossip and some teasing of the couple may seem harmless at first, but could lead to detrimental consequences. ...
read moreMonthly Newsletter August 2019
Dear Valued Clients and Associates, After a great day out this week, with a wonderful group of clients and associates, I realized summer is going by fast. What are your plans before school starts again and the warm days turn cool? The winter hiring and benefits season is going to be here before we know it! Offering a good employee benefits package can be a great tool for recruiting and retaining top talent. PF Compass works with all carriers and is a full-service benefits brokerage, advocating on behalf of employers and employees. We are committed to helping organizations, like yours, find creative solutions to their employee benefit goals while also helping to keep them in compliance with ever-changing regulations. We’d love to come meet you, learn about what is important to you and your organization and help you reach your benefit goals. Give me a call today 732-258-1032. Here...
read moreRideWise
Free Employer Services and No-cost Employee Benefits? How your county’s TMA (Transportation Management Association) can help you find mobility and sustainability solutions. By Leanne McGowan, Business Development Manager at RideWise, Somerset County’s TMA Most NJ employers and HR professionals don’t realize that their local TMA can be a valuable tool. RideWise TMA in Somerset County, for example, can provide resources, programming and best practice consults on a variety of transportation-related matters, and help your business meet transportation-related sustainability, safety and wellness goals, alleviate pressure on HR and other staff, as well as offer opportunities for employee engagement. Leanne McGowan, Business Development Manager at RideWise, suggests the following to her corporate, business, municipal and non-profit clients, “Think of us as a sustainability partner, transportation options resource and no-cost benefit for employees. We’re happy to help with the basics like transit information, ridesharing registration and vanpooling formation, but...
read moreOnboarding – A Key to Retention!
Onboarding – A Key to Retention! By Maggie Johnson If you think onboarding consists of new employees completing documents such I-9 and W-4 forms, among others, on their first day of employment, you may be missing the value a robust onboarding process can bring to your organization. Onboarding can be the key to increased employee engagement, higher productivity and lower turnover. After spending considerable time, effort and, most likely, dollars recruiting the right person to join your organization, it makes sense to make every effort to effectively assimilate that employee into your company for a mutually successful outcome. According to Work Institute’s 2019 Retention Report, there are 150 million people currently working in the US, that’s more than ever before. In 2018, 41.4 million US workers voluntarily left their jobs. National employee voluntary turnover was over 27%. The cost of voluntary turnover is estimated to exceed $600...
read moreMonthly Newsletter July 2019
Dear Valued Clients and Associates, Wishing you a safe and enjoyable time celebrating our Country’s Independence this week. When was the last time you had someone other than your current Group Benefits Broker look at the Medical and Ancillary plans available for your organization? A second set of eyes is always a good business decision when it comes to one or your biggest Company expenses and staying compliant. Contact me now and I’d be happy to see if there are plans you haven’t been shown before, that would be a better fit for your goals. No obligation. Here is your July 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! IRS Releases Inflation-adjusted Limits for HSAs and HDHPs for 2020 On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and...
read moreMedical Marijuana In The Workplace – Update For New Jersey Employers
Medical Marijuana In The Workplace – Update for New Jersey Employers By Maggie Johnson Recreational marijuana use is not yet legalized in New Jersey or New York despite recent attempts by each state’s legislators to do so. However, recreational marijuana use, if legalized, would not necessarily present a problem for employers. As a comparison, alcohol is legal, but employers have the right to prohibit its consumption during working hours and in the workplace. Surely, the same rule would apply to recreational marijuana. But what about medical marijuana? The New Jersey Compassionate Use of Medical Marijuana Act (“CUMMA”) authorizes patients and their primary caregivers who register with the New Jersey Department of Health to possess medical marijuana that has been dispensed by a New Jersey Alternate Treatment Center. Thus, employers may be concerned about employees’ usage of marijuana, prescribed by a physician, for medical purposes. If an employee...
read moreMonthly Newsletter June 2019
Dear Valued Clients and Associates, With so many hot topics to choose from, I’ve decided to use June to introduce a way for you to potentially put money back into your business with little efforts. “How is this possible?” you ask… Work Opportunity Tax Credits! To learn more, read the article below “How much did you overpay your taxes last year”. To all the Fathers, Grandfathers, Uncles, Brothers and Friends who nurture and love the children in their lives, I hope you have a wonderful FATHER’S DAY! Is your broker only around at renewal? Would you rather have service year-round? Give me a call or email me now to schedule a time to discuss your employee benefit goals and how we will work hard to ensure you and your employees are satisfied all year long. Here is your June 2019 Newsletter with a combination of HR and Health related...
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