What Should be Your HR Strategy for 2017?
As the New Year rings in, everyone is decked up with resolutions and strategies to put to work. Employers and especially the HR professionals have come thorough a lot of challenges last year right from the beginning with the first-ever Affordable Care Act reporting, one of the most painstaking challenges of 2016!
These regulatory requirements and mandates have always occupied the most HR time and will continue to do so in the coming years as well. One of them being the compliance with Health Care Reform and offering employees the affordable healthcare benefits.
So, here we share the trending employee management components that shall be the top most priority in the HR strategy for 2017:
Technology v/s Reforms:
Whenever any new mandate or provision comes into effect, what we all look upto is a new technology that can help us win through the maze. With the ACA reporting becoming most prominent requirement to be fulfilled, came the “n” number of reporting solutions to help employers comply with the requirements. Thus, HR pros must keep their eyes open to what new technology is being introduced and how it can help them stay compliant while controlling budgets and returns.
Uncertain Future, Still Stay Compliant:
One of the prime concerns that followed the US elections result is the future of ACA and healthcare industry on the whole! But, whatever the future be, reporting is still mandatory and to stay away from any compliance issues, employers must continue fulfilling the requirements. With the start of the New Year, HRs must start preparing for the reporting for year 2016 and duly submit 1094/95 forms to IRS by the extended due dates.
As the guidelines and penalties for non-compliance get stricter with each passing year, employers must get a new technology solution to stay compliant with all the regulatory mandates and provisions.
An employee benefits and reporting solution requires all information including employee status, timesheets, payroll data and many related employee management functionalities, and so HRs must eye an integrated solution that can consolidate entire data and help run all tasks automatically. Not just the error minimization, these multi-functional systems will provide more visibility into employee data helping HRs devise more impactful strategies for employee development and management.
Today’s HR is not just the time keeper or document administrator for employees, their role and scope has extended beyond the local boundaries and they have more say into educating employees or formulating strategies that are in best interest of employees and organizations on the whole. Thus, for that, it is more critical to choose your tech-friend more wisely that can allow you to perform your duty well!
as your New Year resolution, try identifying the areas that need your quick
attention and make sure your employees are not deprived of high end technology
while dealing with their daily routine tasks.