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Dear Lynette,
Greetings from HR Advantage! As we wrap up 2023 and take stock of the past year, we have much pride and gratitude in having continued to adapt to the ever-changing landscape of Human Resources and the needs of our clients. We have been blessed to grow our team and capacity to serve clients in ways that are impactful to businesses and employees.
During the holiday season, we look forward to coming together with co-workers, clients, friends and families to count our blessings, show appreciation for one another and celebrate a year and job well done.
We wish upon each and every one of you, a season of hope, peace, joy and love---all things that can withstand the test of time.
From all of us at HR Advantage, blessings and happy holidays to you and yours.
Sincerely,
The HRA Team-
Lynette, Candida, Camille, Karla, Liz, Seth, Sharon & Erinn
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Lynette Weatherford MA, SPHR, SHRM-SCP, President
Email Lynette
877.894.0202 ext 4
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Candida Arvizu MS, SPHR, SHRM-SCP,
HR Advisor
Email Candida
877.894.0202 ext 1
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Karla Callaway BS
HR Advisor
Email Karla
877.894.0202 ext 2
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Camille Knowles PHR, SHRM-CP
HR Advisor
Email Camille
877.894.0202 ext 3
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Elizabeth Hurst MBA
Business Development
Email Elizabeth
877.894.0202 ext 5
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Seth Bunn BS
Recruitment Advisor
Email Seth
877.894.0202 ext 6
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HR Hotline | Email | 877-894-0202 ext. 5
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December HR News
- Year End Reminders
- Missouri Minimum Wage Increase
- Employer Resources: Mental Health First Aid Training
- 2024 FSA, HSA and 401(k) limits
- Career Opportunities (HR, Nonprofit, Payroll)
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Year End HR Checklist
Here are some helpful HR reminders for as you prepare to wrap up the end of the year:
- Verify the current address and contact information for all employees so that W-2s are mailed to the correct location. W-2s must be postmarked by January 31, 2024 for the 2023 income year.
- Handbook review (including updates to benefits, PTO policies and the schedule for paid holidays)
- Be on the lookout for a new federal Form W-4, which has not yet been released.
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Plan an HR Health Assessment of your organization to review compliance and best practices.
- Salary and Wage benchmarking: Missouri minimum wage will increase to $12.30 per hour in 2024.
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Labor poster updates - order your posters from HR Advantage
- Review Personnel File Retention Requirements
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Schedule Training: Preventing Harassment, HR for Supervisors, D&I
- Map out your HR strategy and timeline for 2024 initiatives!
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Missouri Minimum Wage to
Increase for 2024
Missouri minimum wage will increase to $12.30 per hour in 2024. After 2023, the minimum wage rate for all private and non-exempt businesses will be based on the increase or decrease in the cost of living pursuant to the Consumer Price Index.
Employers engaged in retail or service businesses whose annual gross income is less than $500,000 are not required to pay the state minimum wage rate. Employers not subject to the minimum wage law can pay employees wages of their choosing. For more information, please contact the United States Department of Labor.
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Mental Health First Aid
Employer Resource
According to the World Health Organization (WHO,) mental health challenges cost the global economy an estimated 1 trillion dollars per year. In the US economy, the cost is 180 billion per year in lost productivity.
25 percent of workers experience burn out, suicide is the 10th leading cause of death, and approximately 20 percent of the population experiences some sort of mental health challenge each year.
Reading these statistics alone can be depressing, but there is something business leaders can do. Mental Health First Aid™ training for your employees, particularly your leadership, is the game changer in identifying and addressing mental health challenges that surface in the workplace. Business owners, supervisors, and HR staff commonly find themselves up against scenarios surrounding mental health, with which they are simply unequipped to deal with. This training helps those to identify what mental health challenges look like (and we all have encountered them and probably didn’t realize it,) how to approach the person experiencing it and most importantly, help them get connected with the support they need to heal.
To explore Mental Health First Aid™ training options for your staff, contact:
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2024 Increases to FSA, HSA & 401k
Contribution Limits
The IRS released new annual contribution limits for Flexible Spending Accounts (FSAs), Health Spending Accounts(HSAs) and 401(k).
For the year 2024, the FSA annual contribution limit is rising to $3,200, up from $3,050 in 2023.
The 2024 annual limit on HSA contributions for self-only coverage will be $4,150, a 7.8% increase from the $3,850 limit in 2023. For family coverage, the HSA contribution limit jumps to $8,300, up 7.1% from $7,750 in 2023. Participants aged 55 and older can contribute an extra $1,000 to their HSAs.
In 2024, employees can contribute $500 more (up to $23,000) into their 401(k), 403(b), most 457 plans or the Thrift Savings Plan for federal employees. The limit on total employer-plus-employee contributions to defined contribution plans will increase to $69,000 in 2024, up from $66,000 in 2023.
Read more from SHRM
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