The year is coming to a close, but it’s not too late to check off a few key action items to ensure a smooth transition to 2023.
Pay Attention to Payroll Deadlines
The end of the year is always a crazy time, but there are some key things that HR pros cannot afford to fall behind on. Don’t miss these upcoming year-end dates and deadlines:
Before January 3: Process all 2022 payroll, including bonuses, adjustments, and manual checks
By January 15: Open enrollment ends for 2023 health insurance plan
As soon as possible: Ask employees to confirm that tax withholdings are accurate
Consider Enhancing Your Benefits Plans
Employees will be looking for more benefits in the upcoming year. It's important you stay on top of employee needs. Your company can enhance benefits plans by adding:
Wellness Benefits
Since the pandemic, many companies have expanded their wellness benefits to include telehealth and virtual mental health services. Some are also offering virtual workout classes and online gym memberships.
New PTO Policies
After the last couple of challenging years, now is a good time to reevaluate your PTO policies to avoid employee burnout. Encourage employees to take their time off, give them extra days off around the holidays, or incorporate mental health days into your PTO package.
On-Demand Pay Program
Some companies have introduced programs to give employees access to their earned wages next day. Studies show that this benefit leads to improved recruiting, increased employee productivity, and lower turnover.
Conduct Performance Reviews
Performance reviews are an excellent way to recognize accomplishments and identify areas of improvement. Use company-specific metrics, conduct 360-degree reviews, and ask questions about core values to customize the review to your company.
Be sure to involve your employees when setting objectives, ensure their goals support overall team and organizational goals, and always use the SMART (smart, measurable, achievable, realistic) methodology.
Evaluate Employee Engagement
Employee engagement has been a top concern for HR professionals throughout the past year. It’s important to check in with your employees regularly and ensure that they are engaged in their work. Some ways to evaluate and promote employee engagement include:
Send out surveys
Surveys will give you a sense of employees’ overall satisfaction, their relationships with their managers, and their feelings about your company culture. They’re also a great vehicle for ascertaining suggestions on how the company can improve.
Recognize employees
Now is a great time to reflect on the hard work of your employees. This can be in the form of gifts, thank you cards, or recognition in front of their peers.