2020’s Newest Payroll Trend
Covid-19 has brought about change in every sector of the economy and virtually every aspect of our personal lives. Many workers, regardless of income level, employment type, race, gender, age or geography struggle financially between pay periods.
The majority of employers pay employees in arrears, holding earned wages two weeks or more. Those who struggle financially may resort to using high interest credit cards and payday loans to get by in between pay dates.
On demand payroll is based on the premise that net pay is continuously updated when a time, benefit, or HR record is changed. Most payroll services already automate these functions and payroll administrators can set limits in accordance with specific business rules.
Our industry typically has a high ratio of “gig workers”, independent contractors or contract firm workers, who regularly provide services to clients, but who are paid by the job rather then a salary or regular hourly wage.
With on-demand payroll, employees and contractors can choose a digital wallet, debit card or a combination. Actual wages can be available to workers in real time, even daily, from a mobile application.
These services already have on-demand solutions available:
- Ceridian’s Dayforce Wallet
- Paychex Worx
(Author notes this article is for informational purposes only and IAASE is not endorsing any of the above vendors)
Updated May 18, 2020
These FAQs address the rules as filed in NCCI manuals and other potential issues related to NCCI’s role in the industry.
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By: Ron Carucci
With many unfamiliar variables introduced by Covid-19, getting to the bottom of sudden poor performance is more complicated than it used to be — especially when you’re dealing with an employee who was successful back in the office. If your employee has just recently started to underperform, begin by identifying new variables that could be interfering with their work. Have there been recent organizational shifts? Difficulties in their personal life? Sometimes you may not know until you have the conversation, but it’s important to consider all the factors before a confrontation.
Have the conversation on a video call so you can read each other’s expressions, and start it by asking about their well-being. Then, clarify that your goal is to help them resolve the problem at hand. Use probing questions like, “Why do you feel this is happening?” and listen carefully to how they describe the situation. Once you’ve identified what the issue is, ask, “What would you change if you could?” to open the person’s imagination and signal that you trust their ability to improve. Resist telling them what to do. You want to engage the underperformer in problem solving and let them know you are OK with missteps as long they are corrected and learned from.
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by Rebecca Knight
As the coronavirus pandemic disrupts business-as-usual, managers and employees grapple with the unknown. Communication is key…
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By Stephen Milioti on 17 Apr 2020
With social distancing mandates in effect across much of the country, many people working in industries deemed “non-essential” are doing their work from home. And while the constant stream of COVID-19 news, in addition to caretaking or homeschooling responsibilities, can make it hard to stay focused on work, modifying your space can help. An organized and visually appealing work area can help you feel more productive — and more relaxed.
Tips for elevating your home workspace. Read Here:
The CDC has provided instructions for making cloth face coverings, which can be done at home with limited supplies. A PDF copy of these instructions for your convenience.
by Laura M. Giurge and Vanessa K. Bohns
Harvard Business Review
April 03, 2020
“As millions of employees around the world have had to make a sudden and unprecedented shift to remote work amid the coronavirus pandemic, many might find themselves feeling like they need to work all the time to signal their devotion and productivity — and, as a result, may struggle to create healthy boundaries. Even more than before, afternoons will blend with evenings, and weekdays will blend with weekend days, leaving a sense of little time off. So, how can we “leave our work at the door” if we are no longer going out the door? Research shows it will be important to: 1) maintain physical and social boundaries; 2) maintain boundaries on how you use your time; and 3) focus on your most important work”
Hello IAASE members –
There have been many changes since our last conference. We have a new logo, we are now on LinkedIn, an updated website, planning for the 2020 Annual Conference and COVID-19.
Our new normal with COVID-19: We are planning the conference with the hope and optimism of getting through this pandemic but we know the virus dictates the timeline. “We are taking the COVID-19 pandemic seriously. If the conference does get canceled, you will receive a 100% refund of any registration fees paid. We will be re-evaluating our position with the hotel at a later date. In the meantime, at least for this conference, we need to plan as if everything will be fine. We hope this will pass sooner than later and will see you in August!” See the attached full message from the IAASE President.
With the updated website all the original content has been moved over and the annual conference details will be contained in the website. We have also made our presence known on LinkedIn, providing you updated industry information, regional premium audit job postings and local auditor association meeting details. Make sure to follow us on LinkedIn for regional updates.
Conference Details: www.iaase.net/2020-annual-seminar
Insurance Auditors Association of the Southeast
2764 Pleasant Road, Suite A
Fort Mill, SC 29708