Posts tagged with "checklist"

GETTING READY FOR YEAR-END – PART TWO – WINTER IS STILL COMING

Credit: iStock/egal

Ginger Galloway, SPHR, MBA | November 7, 2018

Part Two of a Two-Part Series

As the holiday season approaches, it is amazing how fast time flies.  You should be well into planning and beginning implementation of year-end.  HR manages so many things at year-end.  Below is a list of some of the important year-end activities for benefits, compensation, and other compliance issues.  Last month, we reviewed planning and payroll year-end activities.

An important aspect of year-end is preparing a project plan.  Project management software can help you but all you really need is a checklist.  Build in all the steps for a task, timing to complete and who is responsible for it.  If you have a team, make sure you start reviewing the plan weekly with them then change to several times a week as action items due come closer.  If you don’t have a team and you are handing year-end solo, indicate updates to yourself on the checklist and set reminders on your calendar.

Also make sure to build in checks and balances.  Depending on your role, you should keep others updated that have an interest in ensuring year-end activities are completed successfully.  Involve the accounting manager and keep the CEO updated with high-level information on a schedule that she or he wants.

Some year-end activities for benefits, compensation and other compliance issues are below.  If open enrollment or pay increases are handled at a different time of year, please adjust accordingly and set up separate checklists and reminders for the applicable timing.

Benefits

  • Spot check open enrollment elections and changes, especially deductions, in payroll.
  • Ask employees to verify and update beneficiary information.
  • Ensure child dependents are removed from insurance if they are older than 26 years.
  • Run reports to verify PTO or vacation balances to ensure what amount can be carried over.
  • Ensure all ACA requirements are verified and completed.
  • Ensure health care cost coverage will display on W-2s.

Compensation

  • Ensure current FLSA classifications are still correct.
  • Plan, schedule and conduct merit increase process.
  • If you have pay grades, review them to see if they need to be adjusted.
  • Calculate minimum salary requirements for exempt status and process any necessary pay adjustments or change affected employees to non-exempt.
  • Calculate and schedule payment of any bonuses earned.

Other Compliance

  • Ensure updated employment posters are ordered and posted in visible location at all offices and work locations.
  • Distribute any year-end notices.
  • Ensure employees sign an employee handbook acknowledgement once handbook is updated for the new year.

Happy year-end planning and implementation.  May everything go smoothly, and you can enjoy your December and January in your own way.