compensation

Rigid Compensation Practices May Be Triggering Today’s High Turnover Rates

Traditional compensation plans are failing to meet the needs of many millennial and Generation Z employees. Elliot Dinkin of Cowden Associates, urges employers to set aside the cookie-cutter approach and create economic but flexible alternatives.(PRWeb February 17, 2020)Read the full story at https://www.prweb.com/releases/rigid_compensation_practices_may_be_triggering_todays_high_turnover_rates/prweb16914796.htm

ICW Group Announces 2020 Workers' Compensation Safety Webinar Series

ICW Group’s 2020 Safety Webinar Series starts Thursday, February 20 at 11 a.m. PST with a webinar on safety management.

“Making sure your workers are educated on safety best practices not only prevents injury and saves lives, it also reduces claims, saves money and increases productivity,” said Rick Fineman, VP, Risk Management at ICW Group.

SAN DIEGO (PRWEB) February 13, 2020
To educate workers’ compensation policyholders on best practices that keep workers safe, ICW Group Insurance Companies, a leading group of property and casualty carriers, announces its 2020 Safety Webinar Series covering a variety of topics including, slips, trips and falls, food worker safety and safety management.
This free series, which includes bi-monthly, 60-minute webinars over the course of the year, will identify a variety of workplace hazards and provide tangible injury-reduction solutions. While the webinars are designed for ICW Group policyholders, anyone can register and take advantage of these learning opportunities. The series kicks off next week on Thursday, Feb 20 at 11 a.m. PST with a session titled Step Up to Safety Management. Interested attendees can register here.
“Making sure your workers are educated on safety best practices not only prevents injury and saves lives, it also reduces claims, saves money and increases productivity,” said Rick Fineman, VP, Risk Management at ICW Group. “The ICW Group Safety Webinar Series is designed to teach businesses actionable ways to improve safety right now and build a culture of safety within their organization.”
Each webinar provides downloadable resources to help extend the lessons learned and are led by ICW Group professional Risk Management Consultants. As part of its ongoing commitment to policyholders, ICW Group updates the content of each year’s webinar series, often including feedback from participants, to deliver meaningful content. This year ICW Group is including new topics such as food worker safety and preventing falls from elevators, ladders and scaffolding along with bringing back its popular supervisor-focused Step Up to Safety Certificate Series.
“The five-part Step Up series covers safety management, investigations, culture and programs, and provides ways to enhance employee engagement and commitment to safety,” Fineman said. “Companies with a highly engaged workforce experience 50 percent fewer accidents. The Step Up series goes way beyond safety best practices and emphasizes how to get your employees on board for the long term.”
Registration is now open for the following webinar topics:

While the final schedule for the second half of the year will be released at a later date, preliminary topics include transitional work programs, safety observations, machine guarding and a popular non-safety-specific topic on preventing workers’ compensation fraud.
Past webinars and resources are available On Demand. To receive alerts when registration opens for future webinars, contact webinars@icwgroup.com.
About ICW GroupBased in San Diego, ICW Group Insurance Companies is the largest privately held insurance company domiciled in California. Quoting more than $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company. ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims, and is committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them. More information is available at http://www.icwgroup.com, http://www.twitter.com/ICWGroup, http://www.linkedin.com/companies/icw-group and http://www.facebook.com/ICWGroup.

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Workers' Compensation Lawyer Belal Hamideh Examines Potential Impact of Assembly Bill 5

The new law creates a different work landscape for freelancers in California.
Press Release – updated: Jan 30, 2020 08:00 PST

LOS ANGELES, January 30, 2020 (Newswire.com) – California’s ​Assembly Bill 5 is one of the more significant laws affecting business and employment in recent years. It went into effect on Jan. 1, 2020, and it is primarily aimed at addressing “gig” workers and the misclassification of workers by companies. Belal Hamideh, a leading workers’ compensation attorney in Long Beach, believes this will have a significant impact on workers’ compensation in California going forward.
Tech companies Uber, Lyft, and Postmates are said to be the most affected by the new law. Each stand to lose hundreds of millions of dollars if a significant number of their drivers, largely classified as independent contractors, are re-classified as full-time employees.
On January 9, both Postmates and Lyft have filed lawsuits against the state of California contending that the new law is unconstitutional. 
Speculation abounds as to what this will mean for workers in California. 
“There are going to be a lot of workers’ compensation and wage and work hour cases filed by Lyft and Uber drivers,” according to Hamideh. 
The law mandates that workers who meet a three-pronged “ABC test” be classified as employees of a company. If the worker qualifies, they will be eligible to receive benefits from the said company that include hourly wage protection, workers’ compensation benefits, paid sick leave, paid family leave, vacation, unemployment insurance, and short-term disability benefits.
Hamideh said that many of the gig workers in this field should make sure they are correctly classified so that they are not deprived of their benefits.   
For more information on how the law affects workers’ compensation and other employee protections in California, or to make a media inquiry, please contact Belal Hamideh Law, 111 W. Ocean Blvd. #424 Long Beach, CA, 90802, (888) 277-6122.
Source: Belah Hamideh Law

The Community Roundtable’s Community Careers and Compensation Report 2020: Online Community Professionals Emerge as Transformational Leaders

As organizations evolve, community managers provide leadership and engagement models to suit a new era of work.(PRWeb January 23, 2020)Read the full story at https://www.prweb.com/releases/the_community_roundtables_community_careers_and_compensation_report_2020_online_community_professionals_emerge_as_transformational_leaders/prweb16849342.htm

In Tight Labor Market, Employers Urged To Rethink Compensation Strategy

Employee Compensation

“In today’s competitive market, employers need to pay close attention to their employee retention rates,” says Cowden Associates CEO Elliot Dinkin, a nationally known expert in actuarial, compensation, and employee benefits issues.

PITTSBURGH (PRWEB) January 14, 2020
In November of 2019, according to the U.S. Bureau of Labor Statistics, the unemployment rate in the U.S. reached 3.5%, an 18-year low(1), while the number of job openings in the country rose to 7.267 million.(2) Meanwhile, a new report from ADP Research Institute show that employee turnover is averaging 60% annually in the U.S., with even higher rates in certain industries.(3) “In today’s competitive market, employers need to pay close attention to their employee retention rates” says Cowden Associates CEO Elliot Dinkin, a nationally known expert in actuarial, compensation, and employee benefits issues. “A high turnover and job vacancy rate can negatively impact a company’s ability to improve revenue and margins, smoothly adapt to technological change, and remain competitive in its market.”
An often-cited factor in today’s high employee turnover rate is generational behavior; in a recent study by staffing firm Robert Half, 75% of respondents in the millennial (18- to 34-year-old) group said they thought job-hopping would be beneficial to their careers, even in traditionally stable fields like finance.(4) In actuality, however, Department of Labor statistics show very little change in median job tenure with current employer for members of different age groups across 30 years: 1.5 years for 20- to 24-year-olds in 1983 vs. 1.3 years in 2014, and 3.0 years for 25- to 34-year-olds in both 1983 and 2014.5
What these figures suggest, says Dinkin, “is that people’s attitudes toward their jobs fluctuate with their needs, which tend to change at different points in their lives. Finding ways to accommodate those needs is an increasingly important factor in maintaining workforce stability in today’s tight labor market.”
Dinkin further explains, “In order to satisfy employees across all generations, it is practical—and smart—to allow employees to choose from a menu of options. Employees with young children, for example, might opt to use more PTO and reduce the level of base compensation. Younger employees might opt to reduce or opt out of medical benefits in exchange for a matching school loan payment. Employees managing their own finances might accept a bare minimum of core benefits and increase pay supplement.
Whatever options are devised, the current one-size-fits-all approach to total compensation will no longer suffice if a company truly wants to become—or remain—an employer of choice. Designing tailored total compensation could be an effective solution to the challenges posed by today’s highly competitive labor market.”
About Cowden Associates:Cowden Associates, Inc., headquartered in Pittsburgh, PA, was created in 2001 by the merger of Halliwell and Associates and MMC&P Spectrum Benefits, which was founded by Jere Cowden in 1986. Currently led by President & CEO Elliot Dinkin, Cowden Associates specializes in helping corporate clients find the best solutions, both for the enterprise and for its employees, with regard to compensation, healthcare benefits, retirement and pension issues, and Taft-Hartley fund consulting. Winning Workplaces and The Wall Street Journal have recognized Cowden Associates as a “Top Small Workplace,” a lifetime designation awarded to the executives for their ability to build and lead savvy organizations. For more information, visit http://www.cowdenassociates.com
1.    “Labor Force Statistics from the Current Population Survey,” U.S. Bureau of Labor Statistics, January 6, 2020.2.    “United States Job Openings,” Trading Economics, January 2020.3.    Gregory, Ellen, “The Age of Employment Turnover,” ADP Research Institute, August 2018.4.    “Changing Jobs: Is It Good for Your Career to Do It Often?”, Robert Half, April 5, 2018.5.    “Employee Tenure Trends, 1983-2016,” Employee Benefit Research Institute, September 20, 2017.

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