Is the future of work remote?
This was a question that HR leaders were pondering long before COVID-19 shook up the global economy and changed the very way we do business. Now, those same leaders have pivoted to create policies, build procedures, and implement new technology to transition their companies to full-remote work in the wake of the pandemic.
84 percent of today’s workers rank workplace flexibility as the most important factor when evaluating a job prospect. Flexible hours and the option to work from home were two highly sought-after perks, even before the onset of COVID-19.
As we all continue to acclimate to the world of remote work, there are a few factors of the employee experience that HR professionals still have to adapt to this new way of working.
One pressing issue is how to handle employee onboarding in these transitory times. The answer? A remote onboarding program.
COVID-19 and the subsequent changes to how we conduct business have drastically changed the world of work for people around the globe.
These changes include daily updates and adjustments to how employers offer healthcare—not to mention the need to make difficult financial decisions to mitigate negative impacts on their business and employees.
Like any company, financial institutions have their fair share of HR challenges. From attracting and retaining top talent to staying compliant, there’s never a dull day working in HR in the finance industry.
Still, as the world of work continues to change, so does finance HR. From embracing technological advancements to prioritizing cybersecurity, finance companies are doing their best to keep up with the latest and greatest while still setting themselves apart as great employers.
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Artificial intelligence (AI) is still seen as somewhat of a buzzword in the HR industry, but as companies continue to refine the technology, it seems the future of HR might already be here. AI has touched almost every other major business department, so why not HR?
Are you worried about compliance? You’re not alone! Compliance keeps most HR professionals up at night. In fact, studies show most people professionals list it as one of their top concerns. That probably comes as no surprise as non-compliance can lead to costly fines and penalties for your company. Still, staying on top of existing, pending, and new federal, state, and local regulations, payroll compliance, and employer requirements is easier said than done.
Studies show that one of the top challenges that HR professionals face is how to keep their organization in compliance. Working to keep up with the constantly changing federal and state employment laws is particularly difficult for midsize businesses. In fact, some organizations simply can’t keep up and choose to ignore employment laws—but this approach can lead to a variety of risks including audits and expensive lawsuits that will siphon dollars, time and resources away from other business objectives.