The global pandemic has enabled employees across industries to become adept at virtual collaboration. Technology has transformed meetings where co-workers, colleagues and clients have become familiar online faces. Many organizations are now considering maintaining this model into the near future, but a common question is how to factor in location to determine employee pay.
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Get the latest new products and services from Newport, including payroll notification enhancements, our Financial Wellness Sponsor Insights Report, and more.
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More bank mergers and acquisitions were announced in April 2021 since the COVID-19 pandemic hit the United States in March 2020. Bank consolidations are complex, time consuming and costly, with focus justifiably on systems branch network and employee culture. But one area that is frequently overlooked is the acquired BOLI portfolio.
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Newport is awarded with 64 "Best in Class" honors in PLANSPONSOR magazine's annual "Defined Contribution" survey.
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Newport assisted a client with assessing the competitiveness of current Board Director compensation levels as compared to market. Newport also performed an analysis of the Board’s strategic support capabilities.
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Employers may want to explore offering a financial wellness program regardless of the size of their workforce or the average levels of compensation paid to employees. Most employees can benefit from education and assistance with financial planning associated with life events, such as paying for higher education, buying a home, caring for an elderly relative, and saving for retirement – even if they are not financially stressed.
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Newport anticipates significant changes and opportunities in 2021, impacting compensation and retirement benefits for highly compensated employees (HCEs) and providing opportunities for companies to rethink their business. Non-qualified plans and company-owned life insurance (COLI) can help companies address cost, compensation, and benefits issues.
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A Board Chairperson suspected that certain Board Directors no longer embraced the company’s mission and in some instances, Directors did not appear to be fulfilling their fiduciary responsibilities. Newport assisted the client by conducting an unbiased performance appraisal of all of the client’s independent Board Directors.
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All organizations want effective leaders whose values align with those of the organization. Leaders should act with integrity, be ethical, and hold themselves and others accountable to the highest standards of excellence. High-functioning boards and CEOs can enhance and sustain an organization’s competitive advantage in uncertain times, making peformance evaluations a critical aspect of talent management.
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The reach of pharmacy benefit managers (PBMs) has expanded significantly and they have garnered increased visibility in recent years as their earnings have increased along with the rise in health care costs, particularly prescription drug costs. This brings new opportunities to provide additional support to your current clients--and Newport can help.
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