Tracking employee beneficiaries is essential for benefits compliance and risk mitigation. Beneficiaries designate who receives monetary benefits from retirement plans, life insurance, and similar programs upon an employee's death. Proper beneficiary management protects organizations while helping employees prepare their families for unexpected events. As an HR Business Partner, I am often working with clients to ensure their benefits and 401(k) administration is both in compliance and following HR best practices. One key aspect of benefits and 401(k) administration is tracking your employee beneficiaries. Ensuring that your employees have designated and up-to-date beneficiary information is both a way to mitigate risk for your organization and help your employees be prepared to protect their plans and help their families in the event of an unexpected tragedy. Below are five common questions that I hear from clients and employees about beneficiaries:
Business Management & Strategy | Employee Relations
Employees often shiver when they hear the words “performance management”. It evokes images of stuffy meeting rooms, where you feel like you’re in high school again as a manager looks over your file and assigns you grades.
Total Rewards | Employee Relations
Here are some important stats about performance reviews: 85% of employees would consider quitting after receiving what they perceive as an unfair performance assessment. Additionally, only 14% of employees strongly agree that their performance reviews motivate improvement.
Risk Management | Best Practices | Employee Relations
Employee handbooks are a cornerstone of workplace culture and compliance—but their language can also create legal exposure if not carefully crafted. This article reviews what phrases, policies, or “rules of conduct” employers must avoid under current NLRB and EEOC guidance. Learn how to balance organizational values with employee rights while maintaining compliant, enforceable policies.
Business Management & Strategy | Employee Relations
It's a hot labor market right now, and leaders in all industries are struggling to recruit. This could be bad news, even if you're not actively hiring. A competitive labor market means that employers will go to extreme measures to headhunt the best people—including the people on your team.
Best Practices | Employee Relations
If you ask successful CEOs for the secrets of a thriving business, they will all say the same thing: great people and accurate data. High-quality business intelligence is a powerful tool that empowers leaders to identify opportunities, find efficiencies, and strengthen the bottom line.
