4 Tips to Help Prepare your Business for PFL Now
April 11, 2017
4 Tips to Help Prepare Your Business for PFL Now
By now you’ve heard that Paid Family Leave is on its way, and rather than worrying about how it will impact your bottom line, we’re here to help you find concrete steps you can take now to help ensure an easier transition to PFL compliance when the time comes. Even before PFL becomes a reality next year, there are steps you can take today, and leading into the second half of this year, that can help set your business up for success.
1. Get your Payroll House in Order
Since PFL will be financed through employee payroll deductions, starting the conversation with your payroll provider – whether that’s someone in the office down the hall or a 3rd party payroll processor – will help you get ahead of the changes that need to be made to accommodate PFL. The draft regulations even state that you can start collecting employee contributions as soon as July 1st of this year, so if you’re really on top of your game, you can target this date to have your payroll adjustments set up. Read more here why this may be a wise move for the cash flow of your business.
PFL Expert Tip: Cozy Up to Your Data
Above and beyond what documentation DBL requires, PFL will require additional information, like aggregate payroll data, so start looking through your bookkeeping software now, or chat up your accountant about how you anticipate your data needs changing.
2. Plan Now to Avoid Staffing Gaps in 2018
There’s a good chance you could have one or more of your employees taking PFL in 2018 – maybe even as early as January 1. Do you have a staffing plan to cover their workload(s)? Now is the time to consider that and make a game plan. Whether it means cross-training your team in different roles so they can pick up slack in certain areas, or looking into short-term staffing solutions from temp agencies, the sooner you start exploring all your options and planning for them, the more flexibility you’ll have to provide business continuity when employees begin to take paid leave.
3. Double Check Insurance
Call your insurance broker. It never hurts to have a conversation so both of you know what’s coming, and what you’re going to do about it. Confirm with them to make sure your current statutory disability (DBL) carrier will remain in the PFL/DBL market - and if not, start arranging for replacement coverage. Learn more about what this means here.
Additionally, make sure you’re fully compliant with DBL now – since PFL will hinge on DBL, proper compliance becomes ever more important.
Where are all your current employee policies listed? Even if it’s a mental inventory rather than a physical list, make sure you know exactly where all of your employee documentation is housed, and get things rolling to update (or create) those materials with the new required PFL information. Per draft regulations, employee handbooks must include PFL guidance – or if you do not have any written policies yet, you will need to create some form of written guidance to each of your employees concerning all of the employee’s rights and obligations under PFL, including information on how to file a claim for paid family leave. A little further down the line, you will also need to add PFL to your mandatory signage in break rooms, which we anticipate New York State to issue.
PFL Expert Tip: Learn As Much As You Can.
There’s still a lot of information to be finalized by the state, so register for our upcoming webinar in June to learn more, and subscribe to email updates to help prepare your business for total compliance.
This information is based on the current draft regulations and may change with the release of the final regulations. Got more questions? Email us at email@example.com