New regulations and frequently changing labor laws on national, state, and local levels make managing Human Resources more challenging than ever before. We’ve made it easy with a checklist including some of the most important HR tasks, related to payroll, benefits, and compliance to help small to midsized businesses prepare for Q1 in the New Year.
Download your FREE HR Checklist for Q1 2020
Check OSHA Record-Keeping Requirements. Qualified businesses with 10 or more employees are required to post a completed OSHA Form 300A,summary of workplace injuries and illnesses every year from Feb. 1 until April 1. The information is used to help OSHA identify and reduce injuries and illnesses. Note that the employee count includes employees at all business locations combined.Update Federal and State Labor Posters. Make sure your labor posters and notices are current and prominently displayed in your workplace. Labor laws vary by state, and not all businesses are required to post the same notices. For example, some small businesses may not be covered by the Family and Medical Leave Act (FMLA) and would not be subject to its posting requirements. To determine the specific federal posters required for your workplace, visit the Department of Labor's free online tool, the FirstStep Poster Advisor, at www.dol.gov.
Prepare ACA Reporting. Under the Affordable Care Act (ACA), the responsibility for affordable healthcare coverage is on the employer and reporting requirements depend on the number of full-time employees (FTEs) or equivalent. Employers with 50 or more FTEs last year are considered an Applicable Large Employer (ALE) for the current year. If your company is an ALE, verify that your health plan meets ACA requirements for coverage and affordability.
The deadline for applicable employers to distribute Form 1095-C to employees for the 2019 tax year has been extended to March 2, 2020. Forms 1094-C and 1095-C must be filed by Feb. 28, 2020, if filing by paper, and March 31, 2020, if filing electronically. Also, check with your benefits broker for any changes in reporting, and that required annual notices are distributed to employees, such as Medicare Part D, HIPPA, and CHIPRA.
Prepare ERISA Plan Report. Applicable employers are required to file an employee benefits plan report, Form 5500, with the Department of Labor (DOL) if, on the first day of an ERISA plan year (which is different than the policy year), 100 or more participants are enrolled in coverage. In addition, health and life insurance and retirement plans require employers to provide enrollment figures and balances before the end of the year.
Review and Update your Employee Handbook. Conduct an annual review of your company policies and procedures to ensure your employee handbook is current and in compliance with new regulations. Make sure it includes standards for conduct, policies for communication and privacy, compensation and performance reviews, social media, attendance, break periods, benefits, company-observed holidays for 2020, and procedures for termination, discipline, workplace safety, sexual harassment, and workplace emergencies.
Need Help? Depending on your business and industry, your HR checklist for Q1 2020 may be a little different and even more complex. As an IRS-certified Professional Employer Organization (PEO), Propel HR has been a leading provider of Human Resources and payroll solutions for more than 20 years. We partner with small to mid-sized businesses to manage payroll, employee benefits, compliance and risks, and other HR functions in a way that maximizes efficiency and reduces costs. To learn more, visit www.propelhr.com, and to download a helpful one-page Q1 2020 HR Checklist, visit www.mypropelpro.com/checklist.
The HR Division is made up of a team of professionals with a vast level of experience and HR expertise, assisting organizations of all sizes and within a wide variety of industries. They readily partner with clients to address strategic and compliance challenges surrounding the employment life-cycle and the ever-changing laws that regulate it. Inquire below about how they can help you!