CEO of Raising Canes AJ Kumaran says that it’s not the tight labor market that’s leading his company to make some significant, and innovative additions to their employee benefits offerings, he says it’s just the right thing to do.

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Most notable of the new employee benefit package components, perhaps, is the $10 thousand dollars that the company is gifting to first-time homebuyers to help with some of the costs. Raising the minimum wage earned at the company’s restaurants to $18 an hour with opportunities for training bonuses and additional pay for late hour work, as well.

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You can read more about Raising Cain’s strategy and the employee loyalty and retention rates that it is inspiring here.

April celebrates many key holidays for both Jewish and Islamic individuals that employers need to keep in mind. As we continue to trend towards a global working environment across teams on different continents, it is important to observe and respect key holidays.  

Important Islamic Holidays

April 18: Laylat al-Qadr, also known as the Night of Power, is considered one of the most significant nights in the Islamic faith. It is believed to be the night when the first verses of the Quran were revealed to the Prophet Muhammad. Muslims observe this night during the last 10 days of Ramadan and spend the night in worship and prayer, seeking forgiveness and blessings from Allah. Laylat al-Qadr is considered a time of great spiritual power and blessings, and many Muslims strive to engage in acts of charity, devotion, and reflection during this holy night.

April 21-22: Eid al-Fitr, also known as the Festival of Breaking the Fast, is a significant Islamic holiday celebrated by Muslims worldwide. It marks the end of the holy month of Ramadan, during which Muslims fast from dawn until dusk. The holiday is celebrated for three days and involves prayer, feasting, and spending time with family and friends. Muslims often wear new clothes, exchange gifts, and give to charity during this time. Eid al-Fitr is a time of joy and celebration, and it represents the culmination of a month-long spiritual journey of self-reflection, sacrifice, and devotion to Allah.

Important Jewish Holidays

April 24-25: Yom HaZikaron is the Israeli national day of remembrance commemorating fallen soldiers and victims of terrorism. It is observed on the 4th of Iyar, the day before Israel's Independence Day. On this day, a siren is sounded throughout the country, and Israelis pause for a moment of silence in remembrance of those who have died in defense of the state. Memorial ceremonies are held throughout the country, and families visit the graves of their loved ones. Yom HaZikaron is a somber and solemn day, but it is also a day to honor the sacrifice of those who have given their lives to protect the State of Israel.

April 25-26: Yom HaAtzma'ut, also known as Israeli Independence Day, is a national holiday celebrated by Israelis and Jews around the world. It commemorates the establishment of the State of Israel on May 14, 1948. The day is celebrated with parades, concerts, fireworks, and other festivities. Israelis gather with family and friends to celebrate the country's achievements and the Jewish people's return to their homeland. Yom HaAtzma'ut is a day of great pride and joy for Israelis, as they celebrate their freedom, independence, and the strength of their nation.

In conclusion

Having a diverse multicultural and multi-faith workplace is important and can help to bring unique perspectives, experiences, and values that enrich the workplace environment. Employers must provide a work environment that is inclusive and respectful of their religious beliefs and practices, such as providing reasonable accommodations for prayer times or dietary restrictions. Employers can also promote diversity and cultural awareness by fostering open communication, providing diversity training, and celebrating cultural and religious holidays. Overall, not only Jewish and Islamic faiths, but having diversity across all religions can contribute significantly to the success of organizations by promoting diversity, cultural understanding, and teamwork.

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Looking for more exclusive content? Check out what’s new on the Mployer Advisor blog, and be sure to check out Mployer Advisor’s new podcast “This Week in Benefits.”

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Eastbridge Consulting Group has published its research and findings about voluntary benefits at companies that employ between 100 and 1,000 people. 

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More than 75% of employers with 100-499 employees offer at least 1 voluntary benefit, whereas that figure grows to almost 9 out of 10 among employers with 500 - 999 employees.

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Further, more than half of all employees in these mid-size firms have chosen to purchase at least 1 voluntary benefit offering, and the majority of those employees who have purchased at least 1 voluntary benefit have in fact purchased multiple voluntary benefits products.

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The report goes on to note that accident and critical illness are the most commonly purchased voluntary benefits among this employee set.

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You can read more about that research here.

According to federal law and under most state law as well, employers are required to meet certain standards as to when pay is due (relative to when the work was performed) as well as  how frequently pay is due. 

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Should employers fail to meet those standards, employees are legally entitled to 100% wages owed in all cases, and in some states/cases employees are due 200% of wages owed as a punitive and compensatory measure. Importantly, lost access to payroll funds (as is the case with some Silicon Valley Bank depositors) is not an available defense for most companies under existing wage laws, even if the company is not directly at fault.

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In fact, depending on the jurisdiction and applicable law, even investors like private equity funds and in some cases individual company officers and directors can potentially be held liable for illegally withholding wages, so the reach of these legal obligations can be quite broad.

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You can read more about wage laws and this analysis here.

Tis the season for tax returns. We are about 30 days away from the perennial IRS due date. More than half of individuals file their annual federal income tax returns before April 1st, with the majority of the remaining filers submitting during the first two weeks of April, while approximately 5%request an extension to file until October 15^th, according to a Tax Attorney Dail study in 2019. According to IRS data, roughly 10% of individuals do not file their taxes, though it's possible that the actual number is even higher. Despite the sheer number of non-filers, some may evade detection, but with modern technology, it is becoming increasingly challenging to remain undetected by the IRS indefinitely.

Over the next 30 days, make sure to communicate to your employees -

1. Scams: Communicate to  your employees to be on the lookout for and avoid common W2 phishing     scams.

W-2 phishing targets businesses and their employees. The scammers impersonate executives or human resources representatives and send emails to employees requesting their W-2 information. The email often appears genuine, with the company's correct logos and contact information, which can deceive employees into disclosing sensitive information.

The W-2 contains personal information, such as social security numbers and addresses, that the scammers can use to commit identity theft or file fraudulent tax returns. In some cases, the scammers even use the information to file for unemployment benefits under the employees' names.

Businesses can take several steps to prevent W-2 phishing, including training their employees to recognize and report phishing emails, implementing two-factor authentication for sensitive information, and reviewing the emails' sender addresses for any suspicious activity. Additionally, businesses can encrypt sensitive data to protect it from unauthorized access.

If a business or employee falls victim to W-2 phishing, they should contact the IRS immediately to report the scam and take necessary steps to protect their personal information from further misuse. The article emphasizes the importance of being vigilant and cautious when receiving unsolicited emails, especially those that request sensitive information.

2. Reminders as to why it is important to file on time:

·      Avoid penalties: If you miss the deadline for filing your personal taxes, you may have to pay penalties and interest on the amount owed. These penalties can add up quickly and will end up costing you more than if you had simply filed on time.

·      Receiving refunds: If you are owed a refund on your personal taxes, you will not receive it until you file your return. Filing on time ensures that you receive any refund owed to you in a timely manner.

·      Meeting legal obligations: Filing personal taxes on time is a legal obligation. Failing to file can result in legal consequences, including fines, penalties, and even criminal charges in some cases.

·      Planning ahead: Filing your personal taxes on time allows you to plan ahead and make any necessary adjustments to your financial situation. This can help you to avoid surprises and make better decisions about your finances in the future.

3.    Extension? You still need to file by April 15^th –

You may qualify for a personal tax filing extension by filing Form 4868 with theIRS. Form 4868 is the application for an automatic extension of time to file a U.S. individual income tax return. You can use this form to request an extension of time to file your personal tax return, which gives you an additional six months to file.

To qualify for the extension, you must file Form 4868 by the original due date of your tax return, which is usually April 15th. The extension will give you until October 15th to file your tax return.

It's important to note that filing an extension only extends the time to file your return, not the time to pay any taxes due. Therefore, if you owe taxes, you must estimate the amount you owe and pay it by the original due date to avoid any penalties or interest charges.

Additionally, if you are living abroad, you may be eligible for an additional two-month extension, which would give you until December 15th to file your tax return. To qualify for this extension, you must attach a statement to Form 4868 explaining why you need the additional time.

It's important to remember that the rules and regulations regarding tax extensions can vary depending on your specific situation and circumstances. It's always best to consult with a tax professional or the IRS for guidance on your tax situation.

4.    Recommended ways to use your tax refund:

Depending on their financial goals and priorities, people can use their tax refund money in various ways. Here are a few options:

1. Pay off debt: One of the best ways to use your tax refund is to pay off high-interest debt, such as credit card balances or personal loans. Reducing or eliminating debt can help improve your credit score and free up more money for other expenses.
2. Build an emergency fund: It's always a good idea to set aside an emergency fund to cover unexpected expenses or job loss. You can use your tax refund to start or add to an emergency fund, which ideally should cover three to six months of living expenses.
3. Save for retirement: Investing your tax refund in a retirement account, such as a 401(k) or IRA, can help grow your retirement savings over time. You may also be eligible for tax benefits or credits for contributing to retirement accounts.
4. Invest in a home: If you're planning to buy a home, you can use your tax refund to save for a down payment or closing costs. Alternatively, you can use the money to make home improvements or repairs that can increase the value of your property.
5. Spend on experiences: While it's important to prioritize financial goals, it's also okay to treat yourself occasionally. You can use your tax refund to travel, take a class, or try a new hobby. Just make sure to spend within your means and not go overboard with unnecessary purchases.

Ultimately, the best way to use your tax refund depends on your individual financial situation and goals. It's important to have a plan for your refund to make the most of it and avoid frivolous spending.

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Women's History Month is celebrated annually during the month of March to acknowledge and recognize the remarkable achievements of women throughout history. It is a time to celebrate women's social, cultural, economic, and political contributions to society and to raise awareness about the struggles and obstacles that women have faced and continue to face, including discrimination, gender-based violence, and unequal pay. It is an opportunity to honor the courage, resilience, and strength of the women who have fought for women's rights and gender equality.

This includes both at a macro level and life in the workplace.

Looking at the most recent 100 years in the US, the 1900s saw significant progress for women's rights and gender equality, driven by the efforts of various women's movements. Some of the biggest successes of these movements include:

1.         Women's suffrage: The fight for women's right to vote was a major milestone in the women's rights movement. The 19th Amendment to the U.S. Constitution, which granted women the right to vote, was passed in 1920.

2.         Reproductive rights: In the 1960s and 1970s, the women's movement fought for access to birth control and safe, legal abortion. The Supreme Court's landmark decision in Roe v. Wade in 1973 legalized abortion nationwide.

3.         Workplace equality: Throughout the 20th century, women fought for equal pay and equal opportunities in the workplace. The Civil Rights Act of 1964 prohibited discrimination on the basis of sex, race, color, religion, or national origin in employment.

4.         Education:Women fought for and won the right to attend college and pursue higher education. The Higher Education Act of 1965 provided financial aid to help women and other marginalized groups attend college.

5.         Domestic violence: The women's movement brought attention to the issue of domestic violence and advocated for laws to protect women. The Violence Against WomenAct was passed in 1994, providing federal resources to combat domestic violence and support survivors.

Overall, the women's movements of the 1900s made significant progress in advancing women's rights and gender equality, laying the foundation for continued advocacy and progress in the 21st century.

The battle for workplace equality continues today

Despite decades of progress in the fight for gender equality, women in the United States still earn only 83 cents for every dollar earned by men. The gender pay gap affects women across all industries and levels of education, and it is even wider for women of color. The reasons for this gap are complex and multifaceted, including occupational segregation, discrimination, and the undervaluing of traditionally female-dominated professions. Additionally, women often face challenges in negotiating their salaries and taking time off for caregiving responsibilities. While there are laws in place to protect against gender-based pay discrimination, enforcement remains weak. Closing the gender pay gap will require a concerted effort from employers, policymakers, and individuals to address these underlying issues and promote true gender equality in the workplace.

Being intentional about workplace equality

It starts on the front end in recruitment.

1. Employers can focus on hiring more females by implementing policies and practices that promote gender diversity in the recruitment and hiring process. Some strategies that can be effective include:

§ Eliminating gender bias in job descriptions and advertisements: Employers can review job descriptions to ensure they are gender-neutral and avoid language that may discourage women from applying.

§ Increasing outreach to female candidates:Employers can partner with organizations that support women in the workforce and attend job fairs and other events that are popular among women job seekers.

2.         Providing mentorship and support: Employers can offer mentorship programs and support networks to help female candidates navigate the recruitment and hiring process.

3.         Offering flexible work arrangements: Employers can offer flexible work arrangements that can help to attract and retain female talent, such as part-time or remote work options.

4.         Providing equal pay and benefits: Employers can ensure that they offer fair and competitive pay and benefits packages and regularly review their compensation practices to ensure no gender disparities.

By focusing on these strategies and creating a more inclusive and supportive work environment, employers can attract and retain top female talent and create a more diverse and successful organization.

Employers can intentionally develop and celebrate women in the workplace in many ways.

1.         Leadership -One way is to ensure that women are represented and included in leadership positions and decision-making processes. This can be done by implementing policies that promote diversity and inclusion, such as diversity training, mentorship programs, and flexible work arrangements that support work-life balance.

2.         Development- Employers can also provide opportunities for women to develop their skills and advance their careers through training programs and leadership development initiatives.

3.         Recognition- Recognizing and celebrating the achievements of women in the workplace through awards and other forms of recognition can also help to promote gender equality and create a more inclusive workplace culture.

4.         Compensation- Employers can take steps to close the gender pay gap by conducting regular pay equity audits and implementing transparent and fair compensation practices.

Celebrating women in the workplace is not only the right thing to do, but it can also benefit the organization by increasing employee morale, engagement, and productivity.

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