2023 is coming to a close. Do you have your ducks in a row so you can go into 2024 with a clean slate? (enough cliches for you?)
Here's a list of important end-of-year tasks for you to check off to make sure nothing slips through the cracks. (there goes another cliche!)
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Compliance
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Complete
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Review and update procedures and policies to ensure compliance with any changes in rules, laws, and regulations.
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Audit filing systems for security and compliance. Schedule an impartial third-party audit for next year.
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Ensure HR staff know which documents/digital files to retain for 2024 and which to discard/archive. Discuss and reinforce policies for proper disposal.
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Save all critical reporting and filing deadlines to your 2024 calendar and the team calendar.
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Review upcoming 2024 regulatory updates and prepare relevant staff.
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Order updated compliance posters and notifications that must be up by January 1.
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Other:
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Benefits & Open Enrollment
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Owner
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Complete
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Prepare next year's open enrollment communications and documents.
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Review health benefits for ACA compliance.
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Verify all health and retirement plan benefits descriptions and disclosures have been completed and are compliant.
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Review contribution benefits offerings for IRS compliance.
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Send out reminders if flexible spending account dollars must be used before the end of the year to avoid forfeiture.
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Notify COBRA participants about any rate changes.
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Schedule time in mid-2024 to start gathering competitive bids for 2025 benefits.
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Other:
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Final Payroll
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Complete
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Remind employees that if they have experienced a change in status during the year or a significant life event, their withholding may be impacted.
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Remind employees to update address data, demographic information, and emergency information for tax filing purposes.
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Work with company leaders to make cost-of-living adjustments to salaries.
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Schedule and distribute end-of-year bonuses.
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Schedule year-end paychecks.
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Order W-2s and 1099s.
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Other:
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Review, Update & Communicate Policy Changes
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Owner
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Complete
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Employee handbook and policies
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Holiday/vacation policies
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Flexible, hybrid and remote work policies
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Sick & bereavement leave policies
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Maternity and paternity leave policies
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Bullying and discrimination policies
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Performance and termination processes
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Attendance and personal conduct policies
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Social media policies
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Other:
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Plan For 2024 Recruitment and Staffing Needs
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Complete
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Check your training plan and schedule any training now.
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Perform annual performance reviews and check that all employee reviews are complete.
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Schedule meetings with department heads to review staffing needs for 2024.
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Work with department heads to update job descriptions.
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If you have new team members starting over the end-of-year period, confirm start dates and set up their onboarding schedules.
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Meet with your staffing partner to discuss your staffing/hiring/workforce management needs and challenges for 2024 and brainstorm solutions.
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When you're ready to plan for 2024, get in touch with Winston Resources. We'll ensure you have the people and flexible staffing solutions you need to take on any challenge!
