What Can HR Do to Prep for the End of the Year and 2021?
Q4 is rapidly approaching. Between open enrollment and the lingering impact of COVID-19, these eight tips help HR prepare for the end of the year—and set up organizations for success heading into 2021.
Why Does End-of-Year Prep Matter?
It’s easy for organizations to go on autopilot once November and December arrive. Holidays, vacation time, and slower periods can incentivize teams to kick up their feet and relax before the beginning of a new year.
However, end-of-year preparations can set up your organization for success in the new year. In essence, by planning ahead, HR teams and companies can hit the ground running with updated benefits, a refreshed outlook on culture, and much more.
8 Ways for HR to Prepare for the End of the Year
Use the following steps to set your organization up for success heading into the new year:
- Communicate Reminders to Employees: From submitting FSA information to updating personal information, HR can stay ahead of yearly compliance (and administrative headaches) by regularly communicating key reminders to teammates before they leave for the holidays.
- Plan Ahead for Open Enrollment: When preparing for your 2021 benefits package, HR should work with brokers to take a proactive approach to open enrollment that considers challenges teams may face in the coming year.
- Address COVID-19 Concerns: It’s still too soon to tell when the COVID-19 outbreak will abate and workers can safely return to offices and worksites. Update your safety plan accordingly and make sure that you have appropriate communications prepared for testing strategies, rehiring former employees, and return-to-work letters.
- Audit Your PTO Policy: When was the last time you reviewed and updated your PTO policy? With coronavirus and changing employee benefits preferences, consider making changes to your PTO offering.
- Keep an Eye on 2021 Compliance: Heading into a new year, the IRS often makes adjustments to required forms like 1095-Cs and even overtime thresholds and HSA contribution limits. Don’t miss these vital updates—and communicate changes to your team, when applicable.
- Watch the November Election: In 2020, Americans will vote in another historic presidential election as former Vice President Joe Biden challenges President Donald Trump, who seeks reelection for a second and final term. The results could completely change the shape of healthcare policy in the United States.
- Consider Your Culture: Take a look at your company culture. What’s working? What isn’t? Consider what changes you could make to improve retention, recruitment, and engagement—and find out how an HRIS can help you achieve these goals.
- Watch the HR Calendar: Don’t let yourself get swamped with new-year compliance deadlines. A comprehensive HR calendar can help you stay on top of these important dates, even before the year begins.
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