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HR YEAR-END CHECKLIST

Posted on December 11, 2024 by Trinity HR

DISCLAIMER

This document has been prepared by Trinity HR Consulting, Inc. (“Trinity”) solely for use as a general source of information.  As such, it is not intended to take the place of advice from legal and/or tax counsel.  Trinity strongly urges seeking legal and/or tax counsel on this subject matter prior to taking any related actions or making any related decisions.

 

With 2024 quickly coming to a close, it is a very important & busy time for HR professionals. Trinity has prepared this partial year-end checklist as a source of what processes and actions an HR Team may need to review and complete before year-end. Completion is essential in order to finish the year strongly and to ensure compliance with legal requirements that may be applicable to their organization.

 

  1. COMPLIANCE
    • Employee Handbook/Policies Update: Review the employee handbook and/or policies manual to reflect they reflect any changes in company policies, practices, or employment laws.
      • Ensure employees are informed, and confirmation of that is recorded.
    • Labor Law Posters: Verify that labor law posters are up-to-date and compliant with local, state, and federal requirements.
    • Annual Notices: Distribute notices required by laws (e.g., ERISA) to inform employees of their rights related to company-sponsored benefits.
    • Anti-Harassment Training: Confirm that all employees have completed anti-harassment training to meet legal requirements and maintain a respectful workplace.
  1. COMPENSATION AND PERFORMANCE MANAGEMENT
    • Performance Appraisals: If there is an annual employee performance appraisal process, manage the process to ensure all appraisals are completed, meetings held with employees & record of same entered into the HRIS.
    • 2025 Goals: Ensure team & individual goals for 2025 align with and support the corporation level strategic initiatives and goals.
    • Pay Reviews: Review year-end pay increases to ensure appropriateness in terms of employee performance and assigned pay range, as well as any issued performance – pay matrix guidelines.
    • Annual Bonus: If your organization is one that pays out performance bonuses at year-end, oversee the process to ensure accuracy and timeliness.
      • Many organizations have moved away from year-end (“Christmas”) bonuses in favor of combination of company & individual employee performance plan.
      • In most cases, these are paid in the first quarter of the new year after complete year-end company performance is known (and in public-traded companies, audited).
    • Employee Classification: Conduct a review to confirm employees are properly classified (e.g., exempt vs. non-exempt) to avoid wage-and-hour violations.
      • On November 15, 2024, Phase 2 of the Dept of Labor’s Overtime Rule scheduled to go into effect on 1-1-2025, was halted by a U.S. District Court in Texas.
      • Despite this pro-employer court decision, misclassification of positions as “exempt” will remain a reason for employers being found not to be in compliance and be penalized.
  1. BENEFITS
    • Non-Discrimination Testing: Employers must conduct non-discrimination testing by the last day of the plan year or December 31st for calendar year plans.
    • Annual Compliance Notices: Each year, employers are required to distribute certain compliance notices to employees. Examples include:
      • Summary of Benefits and Coverage to all group health plan applicants and enrollees.
      • Women’s Health and Cancer Rights Act Notice provided upon enrollment and annually thereafter to inform employees of the availability of coverage for reconstructive surgery following a mastectomy.
    • FSA Covered Expenses:  Reminder to employees to submit receipts for covered expenses by December 31, 2024. In certain instances, this date is extended, which, in turn, is to be communicated to employees.
    • Prepare for 2025 ACA Threshold Increase: The ACA threshold requirement for employer health coverage will increase to 9.02% which applies to the plan year – not calendar year.
    • Prepare for Secure 2.0 Auto- Enrollments: Applicable employers should prepare for the mandatory 401(k) auto-enrollment requirement for new hires beginning Jan. 1, 2025.
  1. TALENT RECRUITMENT AND ACQUISITION
    • Recruitment Process Review: Evaluate the effectiveness of recruiting strategies and onboarding processes, aiming for improvements where needed.
    • Review 2025 Budgeted Staffing Requirements: Recruiting efforts for newly authorized positions should already be underway for those to start in January, as well as for those in February known to be “hard to find & hire”.
    • Job Description Updates: Ensure Position Descriptions reflect current roles and responsibilities, including bona fide education, experience, competencies and attributes.
    • Succession Planning: Review and update succession plans to prepare for internal growth or unexpected vacancies.
  1. PAYROLL MANAGEMENT (included for those HR Teams having this responsibility as opposed to in Finance, where many external auditors prefer for it to reside.)
    • Year-End Payroll: Verify all payroll information is accurate, including bonuses, commissions, and corrections.
    • W-2s and 1099s: Prepare and ensure timely distribution of W-2s and 1099s as a critical part of year-end

Author: Salvatore LoDico, The HR Godfather TM 

  CEO, Trinity HR Consulting, Inc

Trinity HR provides retained searches and a full range of other HR management consulting services and solutions. We serve a diverse client base — major corporations, SMBs, start-ups, family businesses and not-for-profits (including churches and schools) throughout the US.

To schedule a no cost, no obligation conversation about your people-related challenges and opportunities, and how our Team’s expertise may be able to help you, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR QUESTIONS…TRINITY HAS ANSWERS!

Posted in HR Management

A BENEFIT DIFFERENTIATOR

Posted on November 21, 2024 by Trinity HR

BACKGROUND

For many companies this time of year often means reviewing their benefits package – for both a cost and a coverage standpoint.

  • Cost because benefits for 2025 are rising on average above 5% for the 3rd consecutive year, and represent a significant percentage of employee compensation costs.
  • Coverage because more and more employees and potential employees are focusing on an employer’s benefits package in making their stay/leave and accept an employment offer or not.

Employers recognize that employees (and potential employees) place a high value on the benefits package, and, in particular, on health care benefits.

  • So, despite rising health care rising cost costs, reports by nationally recognized health care experts show that employers are continuing to recognize family building benefits (and other family friendly ones) both as a differentiator from competitors for talent, and as a reflection of having a pro family culture.
  • Various organizations (such as the National Infertility Association) are lobbying for infertility to be treated like any other disease with respect to coverage under health care benefits.
    • 19 states have adopted legislation related to the issue of infertility
    • In the two most recent U.S. Congresses legislation has been proposed.
      NOTE: Both the American College of Obstetricians and Gynecologists and the American Society for Reproductive Medicine have determined that infertility is indeed a disease. I see parity for infertility to achieve parity with other medical conditions as this proceeding on the same course as mental health coverage successfully traveled 20 years ago.

WHAT ARE FERTILITY AND FAMILY BUILDING BENEFITS?

Family building benefits refer to the range of services and support employers provide to their employees to assist them in starting and growing their families.

 

They can include some or all of the following:

  • Medical coverage: Access to fertility treatments, hormone treatments, and assisted reproductive technologies
  • Financial support: Reimbursement for fertility treatments, adoption, and surrogacy
  • Adoption and surrogacy resources: Assistance with adoption and surrogacy
  • Educational resources: Access to educational resources
  • Flexible work arrangements to accommodate family planning
  • Resources for adoption or surrogacy

LOOKING FOR AN EASY PLACE TO START

  • Paid Bereavement Leave: Revise your policy to cover a miscarriage.

WHAT’S IN IT FOR EMPLOYERS?

  1. ATTRACT AND RETAIN TOP TALENT
    • 68% of people said they would switch jobs for better fertility benefits
    • 56% of people say that their healthcare benefits are the biggest reason for staying at their job
    • 46% of employees would forgo more pay for a more generous health benefits package
  2. LOWER EMPLOYER HEALTHCARE COSTS
    • When employees pay for their own fertility treatments, it actually costs the employer more money.
    • That’s because when employees are paying for treatments out of pocket, it leads to more high-risk pregnancies and expensive NICU stays.
  3. IMPROVE EMPLOYEE PERFORMANCE
    • Employer sponsored treatments can lead to superior clinical outcomes which reduces emotional and physical strain on employees and means less time away from work
      • 14% lower miscarriage rate
      • 17% higher pregnancy rate per IVF embryo transfer
      • 27% higher live birth rate
      • 36% fewer egg retrievals performed per live birth
    • The financial strain of paying out of pocket for fertility treatments has a direct impact on employee performance as they may:
      • Take on a second job to afford treatments
      • Go into debt to pay for treatments
      • Seek substandard (and risky) alternative care such as:
        • Traveling to Mexico or other foreign countries for lower cost IVF treatments
        • Electing to forgo anesthesia for painful treatments to save money
        • Ordering medications from overseas pharmacies, or worse, obtaining medications from strangers online

LOOKING FOR MORE INFORMATION AND ANSWERS?

Here are some leading 3rd party providers of fertility and family building services

  • Progyny: Partners with companies and organizations to offer fertility and family building benefits
  • Maven Clinic: Offers comprehensive services starting with family planning
  • Ovia Health: Offers a customizable benefit that supports employees from preconception to postpartum and beyond
  • Carrot Fertility: Offers a fertility benefits program that includes interactions with midwives, doulas, and Carrot Experts

SOME STATISTICS

The International Foundation of Employee Benefit Plans has been tracking fertility and family-forming benefits over the past eight years. According to the Foundation’s Employee Benefits Survey: 2024 Report, 42% of U.S. organizations currently offer fertility benefits.

 

As the data below shows, organizations are increasing their fertility-related benefit offerings

BENEFIT TYPE 2024 2022 2020 2018
Some Form of Fertility Benefits 42% 40% 30% N/A
Fertility Medications 32% 28% 24% 8%
In Vitro Fertilization 32% 30% 24% 13%
Genetic Testing to Determine Infertility Issue 19% 16% 12% N/A
Non-IVF Treatments 19% 17% 11% 6%
Egg Harvesting/Freezing Services 16% 14% 10% 2%

 

Author: Salvatore LoDico, SPHR

  The HR Godfather TM 

  CEO, Trinity HR Consulting, Inc

Trinity HR provides retained searches and a full range of other HR management consulting services and solutions. It serves a diverse client base — major corporations, SMBs, start-ups, small family businesses and nonprofits (including churches and schools) throughout the US.

To schedule a no cost, no obligation conversation about your needs and how our Team’s expertise can help you with this or another HR-related matter, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR QUESTIONS…TRINITY HAS ANSWERS!

Posted in Benefits Management, Talent Acquisition, Executive Search, Employment & Employee Retention

NATION-WIDE INVALIDATING & BANNING OF NON-COMPETE AGREEMENTS TO TAKE EFFECT SEPTEMBER 4, 2024

Posted on August 19, 2024 by Trinity HR

The September 4, 2024 effective date of the Federal Trade Commission’s rule that would essentially INVALIDATE ALL PRE-EXISTING U.S. NON-COMPETE AGREEMENTS & BAN FUTURE ONES is rapidly approaching. It will take effect UNLESS one of the following occurs:

  • A nationwide injunction of the rule being issued

      or

  • The FTC voluntarily agreeing to delay the effective date while the legal process plays out
    • Several states (including PA, TX & FL) have challenged the FTC’s authority to issue this rule. 

SUGGESTED STEPS

Here are some suggested next steps U.S. businesses may want to consider taking between now & September 4th:

  1. Identify & assess what non-compete agreements the company currently has with its workers.
  2. Review related documents, including:
    • Restrictive covenant agreements
    • Executive employment agreements
    • Offer letters
    • Separation agreements
    • Employee handbooks
    • HR policies
    • Equity-related agreements
  3. Determine whether any workers subject to a non-compete agreement are or might be considered “senior executives” as defined by the FTC in its rule.
    • The rule makes an exception for senior executives with non-competes that were in place prior to September 4, 2024.
    • After that date there is NO EXCEPTION for existing or new senior executives.
    • NOTE: The FTC’s commentary cautions that “mere job title alone is insufficient”. The FTC takes the position that “senior executives are relatively few in number”.
  4. Prepare a template notice regarding pre-existing non-compete agreements (except for those with senior executives) in which it clearly informs affected individuals that their non-compete is no longer in effect.
    • The FTC rule requires that, for all pre-existing non-compete agreements (except for pre-existing non-competes with senior executives) the employer must provide “clear and conspicuous notice to the worker,” BY THE RULE’S EFFECTIVE DATE.
      • Obviously, this is a potential predicament for employers in that if after September 4th a court concludes that the rule is unconstitutional & should never have taken effect.
    • The FTC has created & made available a template in multiple languages.

Author: Salvatore LoDico, SPHR

  The HR Godfather TM 

  CEO, Trinity HR Consulting, Inc

Trinity HR provides retained searches and a full range of other HR management consulting services & solutions with clients throughout the U.S. Our clients:

  • Range from large public corporations to start-ups & small family-owned businesses
  • Include both for-profit and not-for-profit organizations.

To schedule a no cost, no obligation conversation about your needs & how our Team’s expertise can help you, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR QUESTIONS…TRINITY HAS ANSWERS!

Posted in HR Legal & Compliance

ORGANIZATIONAL CULTURE, PART #1

Posted on July 26, 2024 by Trinity HR

BACKGROUND

Culture is one of those business terms that organizations talked about often – regardless of such factors as their:

  • For-profit or not-for-profit status
  • Size
  • Industry
  • Geographical location
  • Degree of success
  • Or any other factor

Yet exactly what is meant by the term is often unclear to employees – especially by those not part of the executive or management levels within the organization.

 

WHAT IS ORGANIZATIONAL CULTURE?

An organization’s culture is its shared values, norms and practices that serve to frame and model the interactions of people within it. Although it definitely includes written policies, it typically is seen and formed as much (or even more) by the unwritten rules about the behaviors and conduct expected to take place within the organization.

 

WHY IS CULTURE SO IMPORTANT?

Culture is widely acknowledged by leaders to have wide-ranging and deep impact on their organization’s success or failure. They know both intuitively and by measurable results that the RIGHT CULTURE has many positives. These include:

  • Stimulates effective communications
  • Supports teamwork and unity of purpose
  • Synchronizes processes and inter-function actions
  • Sparks increased productivity
  • Supercharges creativity and innovation
  • Strengthens employee empowerment and, in turn, engagement and satisfaction
  • Stands out in seeking to attract and retain talent
    • ➡ WHICH IS WHY IN CONDUCTING SEARCHES FOR CLIENTS, TRINITY ZEROES IN ON THE CULTURAL COMPATIBILITY OF POTENTIAL CLIENTS.
  • Serves to achieve a better bottom line

SOME NOTEWORTHY FACTS ABOUT CULTURE

According to Gallup polling, employees who feel strongly connected to their organization’s culture are:

  • More than three times as likely as their peers to be engaged at work
  • More than five times as likely to recommend their organization to potential employees
  • 55% less likely to be actively looking for another job
  • 68% less likely to regularly feel burned out at work

Another study shows that 95% of candidates, culture is actually more important than compensation. Employees, and especially top performers, seek a sense of belonging — the confidence that they’ll find a personal sense of purpose in their job that aligns with corporate goals.

 

STAY TUNED FOR PART #2 ABOUT THIS IMPORTANT SUBJECT!

Author: Salvatore LoDico, SPHR

  The HR Godfather TM 

  CEO, Trinity HR Consulting, Inc

Trinity HR provides retained searches and a full range of other HR management consulting services & solutions with clients throughout the U.S. Our clients:

  • Range from large public corporations to start-ups & small family-owned businesses
  • Include both for-profit and not-for-profit organizations.

To schedule a no cost, no obligation conversation about your needs & how our Team’s expertise can help you, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR CHALLENGES…TRINITY HAS SOLUTIONS!

Posted in Organizational & People Development

BIDEN’S PROPOSED FY 2025 BUDGET SPELLS BAD NEWS FOR EMPLOYERS

Posted on April 14, 2024 by Trinity HR

President Joe Biden recently issued his proposed FY2025 budget. It includes large budget increases for government compliance agencies related to employment/employees. Some examples of compliance agencies are:

  • Equal Employment Opportunity Commission (up by $488M)
  • Department of Labor, which includes Wage & Hour Division, OSHA & Office of Federal Contract Compliance Programs among other agencies (up by $318M to $13.9B)
  • National Labor Relations Board (up by $21M to $320M)

Significantly Increased Penalties for EEOC, DOL, EEOC & NLRB

In providing additional funding, the proposed budget calls for “significantly increasing” penalties for employer violations. They are intended to “create meaningful deterrence for employers from violating workers’ rights”.

The higher penalties impact a comprehensive range of employment matters, such as:

  • Hiring, promotions & training, as well as any other term, condition or privilege of employment
  • Pay, including equal pay & overtime pay
  • Workplace health & safety
  • Union organization to “bolster the NLRB’s Board’s “capacity to enforce workers’ right to organize and collectively bargain for better wages and working conditions”.

National Paid Family & Medical Leave Proposed

The budget proposes a national paid family and medical leave program providing up to 12 weeks of leave for workers to recover from an illness or care for a new child or sick family member, among other situations.

National Paid Sick Leave Proposed

President Biden also called on Congress to enable legislation providing employees with seven paid sick days annually. Currently, a bipartisan group of lawmakers from both the House and Senate is working on paid leave legislation.

Author: Salvatore LoDico

  The HR Godfather TM 

  CEO, Trinity HR Consulting, Inc

Trinity HR provides executive searches (from C-Suite to key contributors) & a full range of HR management consulting services with clients throughout the U.S. Our clients:

  • Range from large corporations to small family-owned businesses & start-ups.
  • Include both for-profit and not-for-profit organizations.

To schedule a no cost, no obligation conversation about your needs & how our Team’s expertise can help you, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR CHALLENGES…TRINITY HAS SOLUTIONS!

Posted in HR Legal & Compliance

TALENT ACQUISITION OPTIONS & COMPARISON, PART 3 OF 3

Posted on March 4, 2024 by Trinity HR
DESCRIPTION DOING IT IN HOUSE STAFFING/RECRUITING AGENCY TRINITY MANAGEMENT SEARCH
Candidate Screening & Evaluation This is a critically important step & requires a degree of skill that is typically lacking, including how to:

• Ask probing, in depth & follow-up questions

• Conduct a behavioral interview

• This is how a candidate’s resume (her/his “advertisement”) & reality is ascertained

 Far too often, the recruiting company’s process lacks thoroughness—especially in comparison to a Search Consultant

⇨ Due to the comparative skill levels, as well as the recruiting company’s business model.

Commonly, all you will receive is the resume & perhaps some generalized comments, such as “a really good candidate”.

 Our process has several layers of screening & evaluation:

1)     Phone screening

2)     Live interview by the Consultant

• A written profile of the candidate, which includes key information beyond what the resume contains.
Closing the Deal A critical element is the negotiation of compensation.

• Even if the negotiation is done well & the deal is closed, the negotiation may unknowingly leave a scar on the employee.

 The recruiter’s goal is to close the deal.

• The faster the better–regardless of the thoroughness of the process

• For the highest possible pay amount—since that determines the fee it receives

 Trinity works with you to develop the compensation package for your candidate of choice. It serves as a buffer between you & the client. We know how to get deals closed!
Cost At first, you may think there is no cost to doing it in house. However, there are “hidden costs”, including:

• Your staff’s time on the search takes them away from other activities.

• Rarely will your Recruiting staff as effectively & efficiently as a Trinity Search Consultant

 The cost is greater than doing it yourself & less than a Trinity Search Consultant.

• It is common for the agency to have a fee equating to 15% to 25% of the new hires annual compensation.

 Trinity’s search agreement has two fee options:

1)    A % of the annual compensation

2)    A fixed dollar amount

 

Author: Salvatore LoDico

  The HR Godfather TM 

  Founder & CEO, Trinity HR Consulting, Inc

“ALMOST ANYONE CAN FIND BLACK & WHITE ZEBRAS. WE FIND PURPLE & PINK ONES!”

Trinity is an experienced, highly successful provider of retained search services for executive, management, supervisory & key individual contributor positions in multiple industries throughout the U.S.

  • We’ve conducted searches for clients ranging from large corporations to start-ups.

To schedule a conversation about your needs & how our Team’s expertise can help you, email SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE TALENT CHALLENGES…TRINITY HAS SOLUTIONS!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

TALENT ACQUISITION OPTIONS & COMPARISON, PART 2

Posted on February 2, 2024 by Trinity HR

DESCRIPTION DOING IT IN HOUSE STAFFING/RECRUITING AGENCY TRINITY EXECUTIVE SEARCH
Understanding the compensation in the market place Except for large ones, organizations generally do not have market data related to the position. Yes, they may have (or at least should have) pay ranges, but unless they were developed based on the market & are updated those ranges may not reflect the current market. The vast majority of recruiting companies are limited to what they’ve read or what they hear from candidates. Only a small percent of executive search firms also do compensation work &/or have reliable market data–other than from recent searches. Trinity provides a broad range of HR consulting, including compensation. As such, we can provide up-to-date market (differentiating between base pay & variable pay) for the position —specifically by organization size & industry, as well as geographical area.
Candidate Sourcing Posting on job opening websites & hoping for qualified candidates to respond.

•   These reach only individuals who are actively seeking their next job.

•   They do NOT reach candidates not in the job market, but who often are the most desirable.

⇨ This not only shrinks the size of the candidate pool, but also the quality of the pool.

 Many of these do postings on job boards. Many also receive unsolicited resumes from unemployed individuals looking for the company’s help in securing a job & from employed persons looking for a better opportunity.
They tap into the resumes they have on file—many of whom have not be screened.

•   Their focus is on getting resumes in front of you in hopes that you’ll be interested in the person.

⇨ Rarely, if ever, do they wait to develop a pool of candidates to choose from. The model for these agencies leads to their having a high quantity orientation rather than high quality.

•   The recruiter workload reflects this.

⇨ This model drives all of their actions in a way that is not necessarily best for you.

 We utilize multiple sources to identify potential candidates based on the client’s specific requirements. The sourcing step in our process is laser focused on the client’s requirements, including intangibles.
We identify where potential candidates are most likely to be found.

•   Both those not actively in the job market & those who are

•   Companies (e.g., competitors) deemed as to be targeted—as well as those purposely to be avoided.

•   Reviewing candidates in our data base to reassessed them based your specific search.

As a full-service HR consulting firm, we have the skills to go beyond education, career progression & competencies. We approach finding candidates from a whole person perspective of what it takes to be successful, including factors such as cultural compatibility, leadership style & results from a variety of psychometric assessments.
Selling the Company & Opportunity If they oversell either, they set unrealistic expectations, & the candidate who becomes the employee may very well end up feeling disillusioned.
If they undersell, some highly attractive candidates may choose to decline interest in their pursuing.

⇨ This can be during the phone screen before decision makers are involved.

 Given what the basis for their being compensated is, they:

•   Often oversell the company & the job

⇨ In great part because their process does not emphasize understanding your business, culture & other important determinants of a great candidate.

•   Seek to sell you on “their” candidate— who may be a good one, but the best one for your organization.

 

 The Search Consultant is skilled at marketing the company & opportunity (not just the job) in a favorable & realistic way.

•   They are confident of their capability to find candidates without overselling.

•   This approach produces a “win-win-win” result for the client, the hired candidate & for Trinity.
Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

TALENT ACQUISITION METHODS & COMPARISON: PART 1 of 3

Posted on January 2, 2024 by Trinity HR

DESCRIPTION DOING IT IN HOUSE STAFFING/RECRUITING AGENCY TRINITY HR CONSULTING
Responsible Person Except in large organizations with talent acquisition staff, the internal person (or persons) is typically someone who has:

• Other duties & responsibilities hamstringing giving her/his full attention to it

• Experience & expertise may vary from low to limited & with some as high as advanced, but rarely if ever at the expert level

• Knowledge of your organization & the position to a varying degree—in part depending on where your person is within your organization’s hierarchy

 The qualifications may vary by company.  In some instances, often the recruiter may be anywhere from “not as good” as your internal person to “a little better”.

• However, it is extremely unlikely that the recruiter is close to having the expertise of a Search Consultant.

• Their recruiters often have less than 5 years of recruiting experience–& even those with substantially more do not have the skills at the level needed to needed to effectively conduct a management or executive level search.

• The manner in which they represent your company may be less professional & polished as a Search Consultant.

• Their recruitment process does not place a high level of emphasis on understanding your organization (including its cultural).

⇨ Research clearly shows that more new hires fall because of lack of cultural fit than due to competency.

 The Search Consultant with whom you will work is a specialist with highly developed competency in mining for talent, having gained expertise through years of successfully conducting searches.
The Consultant fully understands the importance spending time with key players of the client organization as the first step in the clearly defined & proven search process.

⇨ I have 35+ years of experience in talent acquisition for a wide of positions & within multiple industries—both as a Corporate CHRO & for the last 10+ years as a Management Consultant.

⇨ All Trinity Team members have a minimum of 15 years of HR management related experience.
Representation The assumption is that your organization’s assigned staff member will represent you in a highly professional and positive manner. A combination of your company & their candidates

• This is due to how they receive compensation (more on fees in Part 3 of this three part series).

 You are the client & the firm acts solely on your behalf, acting in effect as an extension of the organization.

• Trinity’s Consultants represent our clients with an extremely high degree of professionalism & ethics.

Author:

Salvatore LoDico (CEO, Trinity HR Consulting, Inc ◆ SalLoDico@TrinityHR.net ◆856.905.1762)

   The HR Godfather TM

              

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

ABOUT YEAR-END JOB OFFERS & ACCEPTANCES

Posted on December 5, 2023 by Trinity HR

It is highly unusual for an organization to pay a bonus to an otherwise bonus-eligible individual who is no longer an employee at the time of pay out. Also, it is unlikely that a new organization will be willing keep the new employee 100% whole. However, they may, in some but certainly not in the majority of instances, take part of the amount of the forfeited bonus into account in making its compensation offer.

As we approach year-end, a lot of companies are wrapping up their final job offers for 2023.

  • Companies recruiting for talent (whether themselves or through an executive search firm) need to be aware that candidates may be reluctant to accept an offer of employment without first receiving their 2023 performance bonus.
  • Candidates on the receiving end on an offer of employment should know their current organization’s policy related to payments of performance bonuses.

Here’s why it is an important matter which requires early, clear & transparent communication between the parties.

  • Most companies (especially publicly traded ones, plus many private ones) do not pay out annual performance bonuses at year-end.
  • Instead, they do so after their year-end financial statements have been verified or audited. This commonly occurs around the end of the 1st quarter of the new year.

A good executive search consultant show learn about a candidate’s bonus situation early on in the relationship. In turn, they should communicate with the client company about it. This enables the company to make a decision up front about its interest in the candidate.

  • By the parties all being aware, it can avoid an unanticipated snafu being experienced by the three parties involved, resulting in an undesired outcome for everyone.

Author: Salvatore LoDico

              CEO, Trinity HR Consulting, Inc

   The HR Godfather TM

              

Trinity HR offers a full range of HR management consulting services and solutions with clients throughout the U.S.  Our clients:

  • Range from large corporations to small family-owned businesses
  • Include both for-profit and not-for-profit organizations

To schedule a no cost, no obligation conversation about your needs & how our Team’s expertise can help you, email me at SalLoDico@TrinityHR.net or call me at 856.905.1762.

YOU HAVE HR CHALLENGES…TRINITY HAS SOLUTIONS!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention

THE SECRETS TO MAKING BETTER HIRES

Posted on October 16, 2023 by Trinity HR

Research shows that only about 1 in 5 new hires is considered to be unequivocal successes. This is an alarming low rate of success for a process that is essential to an organization’s success!

Why does the hiring process have such a poor success rate? Some key reasons are:

  1. Overreliance on what the candidate’s resume states
    • Failing to properly take into account that a resume is a candidate’s self-created advertisement about themselves & therefore may contain:
        • Elevated job title
        • Embellished skill set
        • Overstated responsibilities
        • Incorrect dates of employment to cover up gaps
        • Unclear or overstated educational credentials
  2. Interviewing & evaluating candidates is not a core competency of hiring managers, and thus they do not know how to effectively:
    • Pose questions that produce revealing answers & important insights
    • Ask probing follow-up questions to drill down past an initial answer
    • Conduct behavioral interviews related to the key elements of past performance that need to be carefully & comprehensively evaluated include:
    • Fully assess soft skills, such as professionalism & interpersonal skills
    • Determine leadership skills & style, collaboration & teamwork
  3. Disregarding the old adage that “past performance is the best predictor of future performance” is as true today as ever!
    • Assessing a candidate’s past performance requires looking past the accomplishments on their resume by knowing how to probe deeply
  4. Most companies do not have the internal resources (talent & time) to most effectively:
    • Market the opportunity
    • Mine for candidates
    • Evaluate candidates
    • Present a pool of fully qualified candidates to the hiring executive

THE SECRETS TO MAKING BETTER HIRES

  1. Have a well written job description, which means it not only describes the role’s functions & responsibilities, but also the skills, attributes, & experience needed to be successful
    • Review the prior & current job holders to pinpoint what made them successful or caused them to fail.
  2. Identify a large number of potential candidates – not merely candidates who are actively in the job market, but also those candidates who are receptive despite not actively looking (“passive candidates”)
    • In conducting searches for clients, I typically identify a minimum of 50 potential candidates with whom to do an initial screen, & often go through 100 before having determined the slate of candidates to present for client interviews.
  3. Thoroughly evaluate candidates to determine which ones best match your specifications, including:
      • Competencies
      • Cultural compatibility
      • Character
      • Compensation
      • NOTE: From my experience, an alarming number of those involved in the process lack the skills needed to effectively evaluate candidates. In great part, this is due to their:
        • 1) Never having been properly taught how to do so
        • 2) Having limited experience in the interview & selection process
  4. Whenever possible, have multiple individuals participate in the interview & assessment process
    • Include individuals from the company functions with which the position most interacts.
    • Consider having 2 (or 3 at the most) interviewers do the interview together, which has multiple benefits.
  5. Have a standardized evaluation tool for completion by each interviewer
    • Do so even for those who will not be included in the final selection step.
  6. Have an open, candid group discussion of candidates (especially those being considered for an employment offer) with all of the appropriate individuals whose input is needed
    • Ideally, one individual should serve as the facilitator.
  7. Utilize assessment tools to improve the selection decision making.
    • Examples include those that assess specific competencies, behavioral styles & emotional intelligence.
  8. Do not end the process until you have a candidate about whom you are excited.
    • Hiring mistakes are costly in multiple ways.

Author: Salvatore LoDico

The HR Godfather TM 

Senior Partner, Spuhler Associates/Founder & CEO, Trinity HR Consulting, Inc

Spuhler Associates is an experienced, highly successful provider of retained search consulting services for management & executive level positions in multiple industries throughout the U.S.

“ALMOST ANYONE CAN FIND A BLACK & WHITE ZEBRA.  WE FIND PINK & PURPLE ONES!”

To schedule a conversation about your needs & how our Team’s expertise can help you, email Sal@spuhlersearch.com or call me at 856.905.1762.

YOU HAVE TALENT CHALLENGES…SPUHLER HAS SOLUTIONS!

Posted in Talent Acquisition, Executive Search, Employment & Employee Retention