Dec 19

Having that “bad apple” in your workplace can be very distracting if not destructive. So in response, candidates are run through an exhaustive process of evaluation. This process may not be the most productive method for measuring an employee’s emotional intelligence. If you want to pick good apples without hoping they fall from the tree, consider the following:
- Is the candidate self-aware and self regulated- you cannot have a loose cannon who does not understand how to control anger or anxiety.
- Is the candidate able to read others and see others’ reactions to their behavior- this can be defined as a social “radar”.
- Can the candidate learn from mistakes made- this is the best way to judge how a person responds to adversity.
Here is a short list of effective questions to detect the prospect’s emotional intelligence:
- Tell me about a conflict you had with a peer or supervisor, and how it started and became resolved?
- Tell me about a time you said or did something that had a negative impact on a peer, supervisor, or customer. How did you know the impact was negative?
- Tell me about a situation when you discovered that you were on the wrong track. How did you recognize this, what did you do, and what did you learn?
If this approach interests you, see Adele Lynn’s book The EQ Interview: Finding Employees with High Emotional Intelligence.
Categories: Employee Benefits, General Information, Governance
Tags: Employee Assessments, Hiring Practices, New hires
Nov 16

A 403(b) plan is a retirement plan offered by schools, hospitals, churches, charities, and certain other tax-exempt organizations. 403(b) plans works very similarly to 401(k) plans and on November 16, 2007, the Employee Benefits Security Administration, the IRS, and the Pension Benefit Guaranty Corporation published revisions to the Form 5500 annual return/report for plan year 2009.
How do these revisions affect your non-profit org?
These revisions include making the reporting rules for those 403(b) plans on par with 401(k) plans. This means that beginning in 2009, 403(b) plan will be subject to the same reporting and audit requirements that currently exist for section 401(k) plans including the completion of the Form 5500 as a small or large pension plan and for large 403(b) plans includes the engagement of an independent qualified public accountant to conduct an independent audit of the plan.
Do you have a 403(b) plan? Be prepared to file.
Categories: Employee Benefits
Tags: 403(b), Employee Benefits, Form 5500, Retirement Plan
Oct 24

The Pension Protection Act of 2006 includes provisions to encourage sponsors of 401(k) plans to automatically enroll eligible plan participants. This differs from previous requirements in which plan administrators would have to send out multiple requests each year, for eligible plan participants, and wait for them to hopefully respond.
The automatic enrollment mechanism will allow the plan administrators to take out a specific pretax contribution percentage once the employee becomes eligible, unless the employee opts out.
The Act also explains that the employee’s initial contributions into the plan will be deposited into certain default investment options, if the employee does not complete the necessary paperwork in the appropriate amount of time. On October 24, 2007, the DOL published a final rule establishing qualified default investment alternatives, making it easier for employers to automatically enroll workers in their 401(k) and other defined contribution plans.
Further, the IRS issued proposed regulations in November of 2007 to implement automatic enrollment which described 2 types of automatic enrollment arrangements.
For more information including a fact sheet detailing the rules, go to the DOL’s Web site at http://www.dol.gov/ebsa/regs, or contact us.
Categories: Employee Benefits, General Information
Tags: 401k, Automatic Enrollment, Benefit Plan, Pension Protection Act
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