PROTECT YOUR MOST VALUABLE ASSET – YOUR PEOPLE MINIMIZE YOUR LIABILITY
Most small organizations don’t have the budget or need for a full time Human Resources Manager. They do, however, have many of the same liabilities and are subject to the same fines & penalties of larger organizations. As a client of BCG Advisors, you have a dedicated Human Resources Specialist who can help you minimize your liability, increase productivity and manage your most valuable asset – your employees. A brief description of the services offered to clients of BCG Advisors…
BCG Advisors will hand hold you through the complex task of authoring an employee handbook. We will review your organization’s current policies along with the needs and wants of your organization to create a customized handbook that reflects your organization’s mission, vision and core values – and keeps you compliant with current state and federal laws and regulations.
Human Resource Auditing (Click to Download HR Audit template)
BCG Advisors will complete a comprehensive audit of your current human resources policies, procedures, documentation and systems to identify needs for improvement and enhancement of the HR function as well as to ensure compliance with ever-changing rules and regulations.
Total Compensation Statements. (Click here to view a total compensation statement)
While many factors drive employee retention, a key element is ensuring that employees understand and appreciate their benefits and compensation. A total compensation statement is one of the most effective means by which employers can educate employees and help them to understand the true value of the employment relationship.
As employers know and understand, the cost of an employee reaches far beyond their salary alone. Total compensation statements give employees information on the complete pay package awarded to them on an annual basis, including both direct and indirect compensation. Direct compensation can be defined as “all compensation (base salary and/or incentive pay) that is paid directly to an employee.” Indirect compensation can be defined as “compensation that is not paid directly to an employee and is calculated in addition to base salary and incentive pay (e.g., employer-paid portions of health/dental/vision insurance, retirement benefits, educational benefits, relocation expenses, and employee paid time off).”
The more detail that an employer can provide, the more beneficial the statement.
Some common items to include in a total compensation statement are:
• Salary/hourly rate
• Medical benefits coverage—include amount paid by employee and employer
• Flexible spending account information
• Paid leave—include vacation/sick/PTO, holiday, personal, bereavement, military pay, jury duty, etc.
• Disability insurance
• Life insurance
• Employee assistance program
• Retirement benefits—include 401(k)/403(b), pension plans, etc.
• Educational assistance programs
• Relocation expenses
• Stock Options
These reports are extremely customizable and can include your logo, a message from your company, benefits unique to your workplace, etc. If you are interested in obtaining these reports for your employees, please contact us.
Click here for a sample total compensation statement
DOL Labor Laws
Do you know exactly which posters and notifications the Department of Labor requires you to provide to your employees? BCG Advisors guides you through this process so your organization is current with the DOL specifications. By following our simple checklist, we can be certain you are in line with the current DOL posters and required information.
BCG Advisors will work with you and advise you on how to minimize your COBRA liability and administration. Our Firm will provide personalized COBRA letters upon an employee or dependent’s qualifying event for you to send to the qualified beneficiary.
BCG Advisors can help you understand COBRA, which employers must follow COBRA, who is eligible for COBRA and up to date notifications for recipients.
Compliance with NJ Paid Leave, FMLA & FLA Laws and Regulations
Many organizations do not know if they are subject to FMLA or FLA laws and what is required by the organization when an employee takes leave. BCG Advisors will guide you through this process, advise you on your obligations and help you process the necessary forms and documents pertaining to the FMLA and FLA claims.
Some examples of areas where we advise you on are:
- What is it and am I subject to it?
- What employees are eligible and how much leave is available?
- Must the employer hold the position open?
- What happens to the health benefits?
- What are the employer requirements?
Policy Writing and Updating
As your organization grows, develops and changes, your policies most likely need to change. Staying current and communicating new company policies, existing company policies and changing company policies ensures a coordinated workplace and minimizes liability. Without proper notification to your employees, these new policies may not be followed and your liability increases. BCG Advisors will work with you to formulate standard and tailored HR and company policies to fit the needs of your organization.
Employee Maintenance / Filing and Recording
BCG Advisors will advise you on the necessary forms, applications and documents you should be using on a day-to-day basis to eliminate confusion, minimize duplication and streamline administration. This all leads to a more productive workday. Additionally, we will work with you on how to accurately maintain your files and records and advise you on how long they must be kept.
An example of some forms and applications:
- New Hire Offer Letters
- New Hire Employee Applications
- Disciplinary Forms (Union & Non Union)
- Performance Review Forms
- Vacation forms
Safety / Risk Management Reporting and Compliance
BCG Advisors will advise you on safety and risk management, along with the reporting and compliance that come along with it. If you are unsure if you are in compliance with OSHA, HIPPA, FMLA, HACCP, etc, we can advise you on how to be certain you are up to date and filling out the appropriate forms and logs.
BCG Advisors can recommend the best ways to increase your employee retention. Some of these ideas include a solid recruitment process, ample training, succession planning, employee evaluations, industry equivalent pay scales, salary management, employee incentives, morale boosters, wage increase schedules etc.
On-Boarding / Training Processes
BCG Advisors can make the most out of your new hires first few days. We can work with you on designing new hire packets that will include all necessary and legal paperwork, employee applications, offer letters, payroll data, and training programs/schedules.
Interview / Recruitment Procedure Development
Many employers do not have a solid interview process in place. This can put you at risk of lowering your retention rate or hiring employees that do not fit the culture and work ethic of your organization. BCG can help you formulate Interview Questions, Exit Interview Questions, advise you on how to get the most out of the interview process, what you can and cannot legally ask a prospective candidate. We can also help you produce attractive ads and advise you on the best places to post those ads, relative to your market.
Background and License screenings
It is important to protect you and your employees against potential threats, violence and lawsuits. Criminal, Employment, Credit, Reference Checks can help you be sure that you are on the right track with the candidates you have chosen to represent your organization. By obtaining a simple release from your prospective employee, BCG can run clear cut background checks for you.
Identifying key persons within the organization and building a team around them is more important than most employers realize. Long term, key employees can create a strong knowledge base, stability, experience, productivity and commitment within your organization. Those people who are key players in your organization should have roles that reflect their importance. Placing them in the correct positions and allowing them to build a team and structure conducive to both your organization and their style of work will promote growth. BCG can help you to make sure your teams are at their best.
Third Party Mediation of HR Issues
Sometimes it is difficult for a manager to come to an impartial decision where two employees are concerned. If you cannot resolve an internal dispute adequately, BCG can mediate for you as a third party, and come to a reasonable unbiased solution.
Union / CBA Coaching
Union negotiations and CBA’s can be confusing, time consuming and can sometimes negatively effect your business operations. BCG can help coach you through contract negotiations, arbitration proceedings, proper grievances, progressive discipline tracking and effective terminations of union members.
NJ Disability (Health Plan Continuation)
BCG Advisors can help you understand NJ Disability and Health Plan Continuation Regulations. Some of the questions that often come are:
- Which employers must follow disability regulations?
- Who is eligible?
- To what group size does this apply?
- What are the any qualifications?
- Who pays the premium?