The fourth quarter of the year is officially upon us. For human resources departments this time of year involves certain tasks to wrap up the year. These year-end preparations and review can become stressful if not properly managed, so we are giving you our best 7 tips to close our 2022 with success.
- Don’t be afraid to do a deep-dove into payroll and accounting records. Pull your employee’s W-4 forms to make sure you have properly completed forms, that means a full social security number or tax ID, dates, and signatures.
- Be ready to sit down with your support team. First, your payroll processor to be sure all wages, cash, or non-cash benefits are properly reported for W-2 forms. Second, your accountant or tax preparer to make sure you have everything you need to issue 1099-NEC forms to independent contractors and W-9 workers. Third, your group health plan representative to confirm your renewal date and inquire as to whether there are any changes to the plan policy or pricing as employees will need to be updated on any of this information.
- Make sure you remind employees the importance of reviewing and updating their contact information. Most significant will be the mailing address and e-mail address, especially for former employees who separated from the company since January 1st.
- Consider gifting employees holiday bonuses or year-end bonuses. And we’ve got more information on this on our blog.
- Review legal changes and updates with your legal counsel and employment lawyer. You’ll want to make sure you know of any changes under the Fair Labor Standards Act (“FLSA”), including minimum wage laws. You’ll also want to make sure your employee handbook is updated with any changes to local, state, and federal laws.
- Review employment policies, especially those relating to benefits, time off, and remote work. If changes need to be made, this is another thing you can go over with your employment attorney or human resources lawyer.
- Review staffing needs and job descriptions to ensure full coverage for the new year.
Get Help From a Florida HR Lawyer
Finding success at the year-end increases the likelihood of success in the new year. Human Resources Departments should be prepared to seek legal counsel for support. If you have any specific questions or concerns about things you should be doing in quarter 4, contact an experienced Florida employment law attorney for immediate assistance.