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IS YOUR COMPANY OVERCONTRIBUTING TO ITS PENSION PLAN?

moneyMany companies do not know about or take advantage of the pension funding provisions of the Moving Ahead for Progress in the 21st Century (MAP-21) Act that was signed into law on July 6, 2012.

 

  • Although the Act is primarily known for authorizing funding for the nation’s highways and for extending low interest rates for federal student loans, it also included a series of pension provisions related to the Pension Benefit Guaranty Corporation.

Pre-MAP-21 Act:

Traditional defined benefit (“DB”) pension plans are generally subject to minimum funding rules designed to make sure that plans have enough money in them to fund promised benefits.

  • Pre-MAP-21, employers were required to use a 2-year average of interest rates.
  • As a result, today’s historically low interest rates would have meant that employers would have had to put in significantly more money than expected into their pension plans in order to meet their benefit liabilities.

Post-MAP-21 Act:

The MAP-21 Act changed the mechanism for determining interest rates to be used for funding pension plans.

  • Instead of a 2-year average, employers can use an average of interest rates going back 25 years in order to calculate their minimum required funding contribution.
  • Consequently, employers are able to contribute significantly less money into their pension plans today while fully meeting their federally mandated funding liability.
  • It turn, taking advantage of this provision is a boost to your cash flow.

If your organization needs help with its pension plan [401(k), 403(b), defined benefit or defined contribution plan}, Trinity’s Team of Consultants can provide assistance expertly and economically.

Posted in Benefits Management

WHY IS INVESTMENT IN DEVELOPING LEADERS ON THE RISE?

leadershipFor the second consecutive year, U.S. organizations have increased their investment in developing their leaders.  In the most recent year, companies have increased this by 14%, with the biggest increase being with small companies.

The biggest reason for this is that CEOs & other executives recognize that organizations with sound leadership development programs outperform their competitors.  Here are some eye-opening statistics about those organizations that have invested in leadership development;

  • 7 times better business results, such as profitability
  • 12 times more effective in accelerating growth


If your organization is thinking about a leadership development course, Trinity is available for a no cost, no obligation discussion.

Posted in Organizational & People Development

WILL YOUR NEW SUPERVISOR OR MANAGER BE SUCCESSFUL?

WILL YOUR NEW SUPERVISOR OR MANAGER BE SUCCESSFUL?

Hiring & training new supervisors or managers is time consuming & expensive.  That’s why it’s so important to minimize the potential for your new ones to be unsuccessful.

Failure can be caused by multiple factors, such as their:

  • Not having the skills their resume & your interview of them led you to believe they had
  • Leadership style can be the wrong one for the group of employees they oversee
  • Not being a cultural fit with your organization

One proven effective way to minimize this risk is to conduct assessments of candidates prior to hiring them.

Trinity has a wide range of assessments available to provide you with an increased level of confidence about candidates for professional, supervisory and management positions.

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

WHISTLEBLOWER PROTECTION & PRIVATELY-HELD COMPANIES

EarlierWHISTLEBLOWER PROTECTION & PRIVATELY-HELD COMPANIES this year, the U.S. Supreme Court ruled that whistleblower protection under the 2002 Sarbanes-Oxley (SOX) Act extends to employees of privately held companies, even the smallest “mom & pop” businesses.  SOX legislation grew out of fraudulent accounting problems that brought down both Enron Corp & WorldCom Inc.

The Supreme Court ruling extended SOX whistleblower protection to employees of privately held companies of contractors & sub-contractors of public firms.  This ruling will force private companies to develop internal reporting systems & anti-retaliation policies similar to those required of publicly traded ones.

In 2013, the number of whistleblower cases increased by more than 73% over 2012.  In great part, this is attributed to the reward programs of the Justice Department & the SEC. In 2013, whistleblowing employees received $345M in rewards.

  • The SEC’s program gives whistleblowers 30% of amounts the government recovers.

If your organization needs help in developing this system & policy, Trinity’s Team of Consultants can provide assistance expertly and economically.

Posted in HR Legal & Compliance

EEOC’s Systemic Discrimination as Priority

EEOCThe U.S. Equal Employment Opportunity Commission (EEOC) is aggressively pursuing investigations into cases of “patterns and practices” of discrimination.  It’s doing so as part of its Systemic Discrimination Program, which it has stated is a top priority.

In 2013, the agency reached conciliation agreements with companies that totaled about $40 million.  The average agreement was over $600,000.

The Systemic Discrimination Program is used to transform a single charge of discrimination into a broad investigation of the employer.  These investigations examine the employer’s policies & practices related to such issues as:

  • Recruitment & hiring
  • Age
  • Gender, especially exclusion of females into male dominated positions
  • Pay & promotion
  • Minorities & females into management & executive positions

If your organization needs help in ensuring its policies & practices are not putting it at risk, Trinity’s Team of Consultants can provide assistance expertly and economically by means of a Human Resources Compliance Audit.

Posted in HR Legal & Compliance

ARE YOUR MANAGERS UP TO THE TASK?

managers

Managing others is not easy–& does not come naturally to many individuals.  Nor:

  • Does this ability magically or mysteriously appear in new supervisors or managers.
  • Should you take for granted that long-time supervisors & managers are doing so in a highly effective way.

Your supervisors and managers are the face of your organization to its employees.  That should not be a surprise given that they typically:

  • Spend more time with your employees than higher ups
  • Are the ones delivering your company’s essential messages

That’s why it is so important for you to invest in the continuing development of your supervisors & managers.

If your organization needs help with professional or team development, Trinity’s Team of Consultants can provide assistance expertly and economically.

For more information, e mail Trinity at info@TrinityHR.net or visit our website at   www.TrinityHR.net.

Posted in Organizational & People Development

RED FLAGS AN EMPLOYEE MAY BE QUITTING

red-flag to-do-list

Retaining your best & brightest employees is a key to your organization’s success. That’s why it’s important to recognize the signs that an employee may be on her/his way out the door.

Here are several red flags that deserve your attention & your seeking to look into the reasons.  In some cases, there may be a non-red flag reason—for example, a personal issue that’s going on, so don’t jump to conclusions.

1. Sloppy work habits

A good employee stops producing top-quality work on a timely basis.

2. Isolation

An employee is away from her/his desk or work area so as to be able to talk privately.

3. Out-of-character complaining

An otherwise & previously cheerful, positive employee begins to complain about things (especially insignificant things).

4. Less interaction with co-workers

An employee appears to be distancing herself/himself from co-workers.

5. Major life changes

An employee experiences a significant life event (e.g., birth of a child, loss of a loved one or divorce).

 If your organization needs help with employee retention, Trinity’s Team of Consultants can provide assistance expertly and economically. If you’ve already lost a key employee, we can provide search services to find a great replacement.

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

NEW TYPE OF EEOC DISCRIMINATION LAWSUIT

lawsuitFor the first time ever, the Equal Employment Opportunity Commission (EEOC) has filed a sexual discrimination lawsuit against a private employer over transgender discrimination. The agency claims two employers each illegally fired a worker who was undergoing a gender change.

  • In both cases, the workers were transitioning from male to female gender and began wearing female clothing to work.

The EEOC has stated that the private-sector lawsuits are part of its ongoing efforts to implement the Strategic Enforcement Plan it adopted in 2012.  The Plan lists as a top enforcement priority “coverage of lesbian, gay, bisexual and transgender individuals under Title V
II’s sex discrimination provisions, as they may apply.”

If your organization needs help with regulatory compliance, Trinity’s Team of Consultants can provide assistance expertly and economically.

Posted in HR Legal & Compliance

NEW LAW RELATED TO BREASTFEEDING AT WORK

Mother and BabyOn September 3, 2014, Philadelphia Mayor Michael Nutter signed a bill (Bill No. 130922) requiring employers to provide reasonable accommodation to employees who seek to breastfeed. The legislation took effect immediately upon being signed.

The legislation;

  • defines “reasonable accommodation” to include providing unpaid break time or permitting an employee to use her break or meal time, or both, to express breast milk.
  • mandates that the employer must provide a safe, sanitary space that is not a bathroom where the employee may express breast milk.
  • Requires employers to inform employees of their right to breastfeed during breaks and are provided a sanitary private space to do so.

For more information, you can go to:

If your organization needs help in ensuring regulatory compliance, Trinity’s Team of Consultants can provide assistance expertly and economically.

Posted in HR Legal & Compliance

WHAT EMPLOYEES SAY MAKES THEM LESS PRODUCTIVE &/OR LEAVE

A recent survey of American workers asked them to identify the issues at work that have annoyed them so much they became less productive (sometimes referred to as “quitting but staying”) and/or caused them to quit. Here’s what employees said were the biggest culprits:

82% – Their manager doesn’t know as much about the industry or the work to be done as they do.

82% – They’re recognized for their work as often as they deserve.

This is only one reason navigate here cialis price so many men are buying this medication. 30px;”>79% – Their co-workers are promoted faster than they are.

74% – Their benefits are sub-par

If your organization needs help in creating an environment that makes it a better place to work (& thus prevents loss of productivity & loss of good employees), Trinity’s Team of Consultants can provide assistance expertly and economically.

 

Posted in Employee & Labor Relations