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Yearly Archives

2024

Feb 13 2024
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Twenty-Two States Raise Minimum Wage

By Minimum Wage
On January 1, 2024, 22 states increased their minimum wages as a result of legislative action or inflation adjustments. Nearly 10 million workers are expected to receive more than $6 billion in additional wages from these state minimum wage increases. These states include Alaska, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New York, Ohio, Rhode Island, South Dakota, Vermont and Washington. Local jurisdictions also may vote…
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Feb 07 2024
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Making Employee Transitions Seamless

By HR
When an employee leaves the company, he or she can leave big shoes to fill. As an employer, you can avoid lost productivity and gaps in client service by putting intentional processes in place to transfer knowledge and experience to a replacement.  Consider Collaborative Knowledge Sharing Tools  In one analysis, Deloitte found that while some workers may feel more job security guarding their specialized knowledge, organizations should cultivate a culture of sharing that makes employees…
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Jan 24 2024
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Benefits of Handling W-2s Early

By IRS
Tax season is approaching, and as most employers know, it’s time to distribute Form W-2s to employees. If MarathonHR is your payroll provider, please rest assured that we’ve handled this task for you and W-2s are already in the mail to your employees. We always strive to distribute W-2s to our clients’ employees during the first week of January, if possible.  Advantages of Sending W-2s in Early January  Although the required distribution deadline for W-2s…
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Jan 12 2024
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Is it Time for a Cost-of-Living Increase?

By Payroll
When inflation is low, employers usually don’t have to worry about making cost-of-living adjustments (COLAs) to employees’ salaries. However, with the inflation of the last few years, COLAs have driven payroll changes and are still a prudent thing for employers to do. Wages and the Cost of Living Workers are continuing to catch up after more than two years of high inflation that took a chunk out of their paychecks. While prices for energy and…
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Jan 08 2024
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Performance and Comp Reviews Should be Separate

By HR
At year-end, employers may be delivering performance reviews or thinking about their strategy for performance evaluations in the coming year. At the same time, discussions about raises and other salary adjustments may be underway. MarathonHR encourages our clients to separate performance reviews from compensation reviews and handle each of them at different times. Evidence suggests that performance management is more effective when organizations separate evaluations from compensation discussion. In one survey, 47% reported effective performance…
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Jan 01 2024
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Long-Term Part-Time Employees Can Now Contribute to 401(k)

By Benefits
There’s good news for long-term part-time employees when it comes to retirement savings. The Setting Every Community Up for Retirement Enhancement (SECURE 2.0) Act of 2022 increased options for long-term part-time employees to make elective deferrals to an employer’s 401(k) plan. A part-time employee’s eligibility to start contributing to an employer’s 401(k) will depend on his or her start date and the number of hours worked. “Employers maintaining a 401(k) must offer it to any…
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