Happy new year! It’s now time to review and update your company’s HR and payroll practices and documents for 2023. As we close out 2022, and begin 2023, it’s time for human resources and payroll to take some important January actions. Here is Consultstu’s 10 point HR checklist to help you get up to date with needed changes and fast-changing federal and Florida rules and regulations. Here are the 2023 HR & payroll updates.
- Update the new hire packet with 2023 documents. Replace your W4 with the 2023 version. Optional – send the new W4 to existing employees to see if they would like to make changes for 2023.
- Ensure you are using the right Form I-9 (expiration date for 2022, and even though it expired, the USCIS has authorized its use until it is replaced). A new form is coming in early/mid 2023.
- Go through the terminated employee I9s, and purge old I9 forms. The retention rule is a minimum of 3 years or 1 year after termination, whichever is longer.
- If group insurance plans renew on January 1, update the Heathcare Exchange form (mandated by ACA) with current group health insurance renewal information (contribution cost and eligibility) and add to page 2
- Check your state and federal workplace posters to ensure the latest versions are posted. See the Florida Department of Economic Opportunity webpage for free versions.
- Review, update and post the updated observed holiday schedule for 2023, and add to the Employee Handbook.
- Review recruiting and retention strategies for 2023 to stay current with the labor market conditions. Check the trending labor rates for key positions and obtain current compensation data to validate existing salary bands.
- Review the Employee Handbook for updates. Did your employee count increase or decrease? Policy changes? Were there any new issues that need to be addressed? Publish your updated Handbook and get employees to sign off.
- Check minimum wage rates (Florida MW rate increased on September 30, 2022) and minimum salary level under federal law to maintain exemption from overtime. Federal wage and hour plans to change the minimum salary level for exempt employees, so be prepared in 2023. Some states have set their own minimum salary levels, that are greater than the federal law.
- Travel policy update and 2023 mileage change. If your company provides mileage reimbursement, review the new rates effective January 1st, 2023. The rate increases to 65.5 cents per mile.
Here is one last recommendation. To prepare accurate W2s and 1099 forms at the end of January, ask employees to update their addresses, phone numbers and personal email. Depending on your payroll system, obtain employee consent to electronic delivery of their W2 forms. IRS Regulations require an employer to receive affirmative consent from its employees in order to deliver Forms W2 electronically.