November 1, 2024
Greetings!
As we stare down the final stretch of the year, it’s the perfect time to pause and reflect honestly on our performance in 2024 (what did/did not work?), while setting our sights on what’s to come (how can we build and improve?). There’s so much to consider, from planning, budgeting and goal setting, to ensure we’re ready for all that 2025 may bring.
One area that’s always on our minds this time of year is compensation and benefits. Many businesses are taking a broader look at their employee value proposition (EVP), from benefits to perks to work-life balance, aiming to start the new year positioned to attract and retain top talent. We’re here to help you refine and update your total rewards strategy.
If you haven’t already, we invite you to participate in our short compensation survey, and we’ll share our findings in a report on Salary Increase Trends for New England with you next month. This survey will take just a couple of minutes of your time, and yield key insights – and the data to back it up – for your salary planning, giving you an idea of the competitiveness of your pay.
Go to survey
Has your business evolved this year? Is it time to evaluate and redefine roles? Are there any gaps that need addressing? These fine tunings can improve performance and profitability, and often it just requires bringing in some outside support. If HR, compensation or recruiting expertise will enable you to make those critical adjustments, and set you up for success in the new year, let KMA be that resource for you.
I personally am ready for the election to be over, and if we’re holding up the mirror of honesty, I’m reminded of the value of staying flexible amid uncertainty. Depending on the results, we may see changes that could impact policies in ways we can’t yet predict. We know that shifting administrations can create a state of confusion, and the team at KMA is committed to helping you navigate any potential changes smoothly.
As I stated last month, I am passionate about the right, privilege and honor of voting, and urge everyone eligible to do so on Tuesday, November 5th!
Have questions about Maine’s PFMLA?
We are actively reviewing the latest guidance from the Maine Department of Labor (DOL) to help you prepare for the upcoming Paid Family and Medical Leave Act (PFMLA), taking effect in 2025. At this time, there is still some ambiguity around the DOL’s criteria for determining who qualifies as a Maine employee. To ensure the accuracy and reliability of the guidance we provide, we are taking the necessary time to resolve any uncertainties. Stay tuned for an update from us in the coming days. Thank you for your patience as the KMA team works to support you in this transition.
I’ll close with my annual appeal to embrace gratitude – and pie – as we gather with our loved ones to celebrate Thanksgiving. Reflecting on all we can be grateful for feels especially meaningful and grounding this year, and it’s a perspective I hope you can carry into every part of your life.
On behalf of all of us at KMA, we are thankful for our clients, our partners and friends like you!
Kim Anania
President and CEO
KMA Human Resources