Unemployment Insurance - Managing Key Issues in response to Covid-19 Implications

Overview:

Unlike other human resource management issues, unemployment insurance (UI) management issues have a direct impact on an organization’s tax liability, and since taxes reduce profitability, on its bottom line. 

Unlike other payroll taxes however, UI taxes are experience-rated and represent a controllable expense.  Thus, an organization’s UI experience, influenced by its success in managing turnover, separations, and chargeable UI claims, provides an objective measure of human resource management effectiveness.

This relationship between human resource management and financial management stems from the unique nature of the nation’s UI program. The UI program is a joint federal-state partnership under which benefits in the form of a temporary, partial wage replacement are provided to unemployed workers who have lost their jobs through no fault of their own. 

The program attempts to draw a relationship between benefit entitlement and wages earned, and between an employer’s benefits liability and the amount of wages paid by that employer.  Within broad federal guidelines, each state is allowed to determine its taxing methods and benefits program.

Cost control of the federal UI tax is achieved through the use of financial management techniques. 

Cost control of state UI taxes is achieved through a combination of financial and human resource management activities.  Cost control of an individual employer’s UI taxes and liability is achieved by stabilizing employment, by taking advantage of tax saving provisions in the law, by using effective hiring, employment, and firing procedures, by training supervisors on proper UI management, and by implementing effective UI claims-hearing administration and management reporting systems.

This webinar will help your organization analyze and assess the performance of its UI management program and will help it identify and implement effective UI cost control measures.

WHY SHOULD YOU ATTEND

For many employers, the direct cost associated with UI has been lower. In calendar year 2020, unemployment insurance tax rates have dropped to state minimum rates — although in many states, the taxable wage bases have been increasing causing higher UI tax liabilities.

But UI tax liabilities are just most obvious risk created by employee separations and unemployment insurance claims activity.

Unfortunately, unemployment insurance claims increasingly expose organizations to other potential liabilities and increasingly, UI claims activity is just the starting point for more detailed employment compliance management analysis.

As a result, UI related activities now often represents only the initial stage of a more intense analysis of your employment policy and practices and can result in significant liabilities.

AREAS COVERED

This webinar provides an update on federal and state unemployment insurance issues, discusses 2020 and 2021 state tax liabilities, assesses the risks and costs associated with unemployment insurance benefits and taxs, and discusses effective UI tax management and cost control techniques.

LEARNING OBJECTIVES

• Update on federal and state UI program
• Risks and costs of UI
• Key UI program management metrics
• Strategic and operational UI issues
• Financial UI cost controls issues
• UI benefits cost control issues
• HR management cost control issues
• The effect on strategic and operational management
• How independent contractors affect your employment practices

WHO WILL BENEFIT

• HR managers
• Payroll managers
• UI Specialists
• Operations managers
• CEOs, CFOs, and COOs
• Risk managers
• External and Internal Auditors
• Consultants