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The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.

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Resolving Workplace Conflicts

Resolving Workplace Conflicts

February 22, 2020
Workplace conflicts are inevitable. Clashing personalities, stressors at work and simply spending large amounts of time with the same group of people can generate conflict. In fact, a recent study revealed that 85% of employees reported dealing with some form of conflict at their workplace. Unresolved workplace conflicts not only negatively impact employee morale, but…
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DOL Fact Sheet: FLSA Joint Employment Status

DOL Fact Sheet: FLSA Joint Employment Status

January 31, 2020
The U.S. Department of Labor (DOL) is updating and revising its regulations issued under the Fair Labor Standards Act (FLSA or the Act) that provide guidance on determining joint employer status under the Act. The FLSA requires covered employers to pay their employees at least the federal minimum wage for every hour worked and overtime…
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5 Employee Wellness Trends to Watch in 2020

5 Employee Wellness Trends to Watch in 2020

January 14, 2020
As we start a new year, how are you feeling? This is an important question to consider since wellness will continue to be a huge factor for companies in 2020. Wellness is a hotly debated topic, but it’s certainly not going anywhere in the coming year. In fact, 76% of employees think their workplace has…
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Jury Duty Leave Requirements

Jury Duty Leave Requirements

January 4, 2020
Federal law imposes the following jury duty leave requirements on all employers: Employers are prohibited from discharging, threatening to discharge, intimidating, or coercing any permanent employee because of the employee's jury service in a federal court. Under the Fair Labor Standards Act (FLSA), employers cannot make deductions for absence of an exempt employee due to…
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IRS Announces Employee Benefit Plan Limits for 2020

IRS Announces Employee Benefit Plan Limits for 2020

December 1, 2019
Overview Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2020. Although some of the limits will remain the same, most of the limits will increase for…
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The Cost of Employee Turnover

The Cost of Employee Turnover

November 3, 2019
High turnover rates can be incredibly costly to an organization, making employee retention vital to success. While established employees can offer valuable insights based on their experiences in the organization, when they leave the organization they take all of that experience with them, forcing resources to be used on finding and training a replacement. The…
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puts businesses at risk

Status quo workplace culture puts businesses at risk

August 11, 2019
We are experiencing the longest economic expansion in recent history. Springfield’s economy is also strong with unemployment of less than 3%, according to the U.S. Bureau of Labor Statistics. These factors, plus others, are creating a competition for talent many businesses have never experienced. If your business doesn’t have a robust plan for attracting and…
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Avoiding a Gender Pay Gap

How can I detect and avoid a gender pay gap in my business?

August 1, 2019
Q: How can I detect and avoid a gender pay gap in my business? A: Nationwide women are paid approximately 80% of what men are paid; 78% in Missouri. Employers can take steps to avoid perpetuating this gap. First, establish a compensation structure including salary ranges for positions; remove inquiries about prior salary from your…
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Employees Want More Money

Employees Want More Money, and It’s Making Them Quit

July 20, 2019
What’s the main driver keeping employees with your business? Company culture? Career mobility? If you ask your employees, they’ll probably say it’s their paycheck. That’s according to a PayScale survey that found pay to be the strongest motivator for quitting. Of over 38,000 individuals surveyed, 25% said more compensation was their motivation for quitting, while…
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Best Practices for Performance Reviews

Performance Reviews: Best Practices

July 5, 2019
Performance Management is an important part of a company’s quality assurance and employee engagement strategies. Many companies formally evaluate an employee’s performance and progress after an initial introductory period and then again on an annual or semi-annual basis. Although performance evaluations can improve productivity and employee morale, many employers do not make them a high…
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