HRCI is the preferred HR certification, and it equates to higher pay: According to a Payscale study,  HRCI remains the top place to earn HR certifications, with 30.4% of survey respondents having at least one HRCI certification. 2018 has been an especially banner year for HRCI with a noticeable uptick in HRCI credential applications and certifications awarded.  The study evaluated 10 certifications from four organizations, including HRCI, SHRM, World at Work, and the Institute for Professional Excellence in Coaching. The Professional in Human Resources® (PHR®) from HRCI is the most prevalent overall, earned by 16.9% of respondents. This compares to 15.4% for the SHRM-CP. Another 7.9% report having a Senior Professional in Human Resources® (SPHR®), compared to 5.3% for the SHRM-SCP. Overall, HR certifications remain the most popular among high-level HR professionals. The Payscale study notes that 55.7% of Chief Human Resources Officers (CHROs) have an HR certification, while more than half of Vice Presidents of Human Resources have HR credentials.  Payscale notes that those who have earned a Global Professional in Human Resources® (GPHR®) from HRCI saw a 16% increase in pay. Those with a Professional in Human Resources - California® (PHRca®) reported a 14.3% bump. PHR recipients also indicated a 2.9% pay boost.  Source: HRCI Institute

Better boss or a raise – American workers choose better boss…or do they?   According to Michelle McQuaid, a world leader in positive psychology interventions in the workplace, if you feel unappreciated, uninspired, lonely, and miserable, you’re not alone.  In a survey of 1,000 American executives, McQuaid found a "whopping" 35% of Americans are happy at their job. And, 65% say a better boss would make them happy. Only 35% say a pay raise will do the same thing. Interestingly enough, this confirms a 2009 study by Harvard Business Review which suggested, “…the majority of people say they trust a stranger more than they trust their boss.”  Hmm, and you wonder why trust ranks low for most engagement studies.  But according to Facebook’s Head of People, Lori Goler, Head of HR Business Partners, Janelle Gale, and People Growth Lead, Brynn Harrington, the real reasons are more complicated.  While studying retention, this team discovered that while bosses certainly matter, most of Facebook’s employees are happy with their managers. Instead, those who left the company did so because of problems with their jobs—for example, that their strengths weren’t being used or that their careers weren’t moving forward. Therefore, succession planning, career ladders, training, and other tools should be used for retention purposes.  Source:  LinkedIn 10/25/18, Forbes 10/16/2012

Social Security taxable wage increases to $132,900 in 2019:  The Social Security Administration (SSA) has announced that the Social Security taxable wage base will increase to $132,900 for 2019, up from $128,400 for 2018.  The tax increase will be reflected in the amount of FICA tax deducted next year from the pay of employees earning more than the 2018 wage base. Although the tax rate for the Old Age, Survivors, and Disability Insurance (OASDI) portion of FICA is set by statute at 6.2% for both the employer and the employee, the amount of taxable wages is subject to increase based on increases in the national average wages. There is no limit on the amount of earnings subject to the 1.45% Medicare (hospital insurance) portion of the tax. In addition, higher-income employees continue to be subject to the 0.9% additional Medicare tax for 2019 for wages or compensation paid to an employee in excess of $200,000 in a calendar year.  Total tax translates into a maximum tax of $8,239.80 for both the employee and the employer—a total tax of $16,479.60. For 2018, the maximum tax is $7,960.80 for both the employee and the employer—a total of $15,921.60.  Source:  CCH 10/26/18

New Jersey requires new employee notice on NJ paid sick leave:  The New Jersey Department of Labor and Workforce Development (the "Department") has issued a mandatory employee notice regarding the NJ Earned Sick Leave Law, which goes into effect October 29, 2018.  By October 29, 2018, employers will be required to "conspicuously post the notification in a place or places accessible to all employees in each of the employer's workplaces." The notice must be posted in the language that is the "first language of a majority of the employer's workforce," and the Department is expected shortly to issue versions of the notice in ten languages other than English.  A proposed rule would allow it to be posted on the company intranet, but the rule has not promulgated yet.   Employers are also required to provide all current employees with a written copy of the notice either in hard copy or via e-mail no later than November 29, 2018 (as stated on the notice).  Source: Proskauer 10/24/18

One half of all workers will likely have to wait until age 70 to retire: According to Aon, only 1 in 3 workers will have saved enough to retire comfortably by age 67. Aon’s 2018 Real Deal study sheds light on the most critical questions employers need to ask as they help employees prepare for a financially secure retirement:  How much money do workers need to retire and maintain their standard of living? While every employee’s needs are different, the average employee needs to save about 11 times their final pay for adequate retirement at age 67.   Are today’s workers prepared to meet their needs at retirement? Two in three U.S. workers are projected to fall well short of the target resources needed to maintain their standard of living at age 67.  How much do employees need to save on top of what employers are providing in retirement income? On average, employees should have 16% of pay going into their retirement accounts every year to accumulate about 11 times their pay by age 67. If an employee is receiving 6% from their employer, that means they would be responsible for the remaining 10%. Employees who save even more may increase their ability to retire early. Source: Aon

Turn the clock back on November 4: Daylight Savings Time ends November 4.  For a copy of the End of Daylight Savings Time Poster, click here.