Year-End HR Checklist: A Guide to a Smooth Close

It’s time for the Year-End HR Checklist.  The end of the year is a busy time for HR departments. To ensure a smooth transition into the new year, it’s essential to have a well-organized checklist. Let’s review key HR tasks to prioritize.

Tax-Related HR Tasks

Tax season brings its own set of HR responsibilities.

• W-2 preparation: Gather necessary employee information and prepare W-2 forms.
• 1099-MISC preparation: Issue forms to independent contractors as required.
• Year-end payroll processing: Ensure accurate final paychecks and deductions.
• Tax form distribution: Distribute W-2s and 1099-MISCs to employees and contractors.
• Electronic filing: Prepare for electronic filing of tax forms.

Accurate and timely completion of year-end tax-related HR tasks is crucial for maintaining compliance and avoiding penalties. By carefully preparing and distributing W-2s and 1099-MISCs, processing accurate final paychecks, and adhering to electronic filing requirements, HR departments can ensure a smooth tax season and minimize potential risks.

Performance Reviews and Goal Setting

Year-end is an ideal time to evaluate employee performance and set goals for the upcoming year.

• Schedule performance reviews: Conduct one-on-one meetings with employees.
• Review employee performance: Assess achievements and identify areas for improvement.
• Set performance goals: Establish clear and measurable objectives for the next year.
• Develop development plans: Create plans to support employee growth and development.
• Document performance reviews: Maintain accurate records of performance evaluations.

Effective performance reviews and goal setting are essential for employee growth and organizational success. By conducting regular performance evaluations, providing constructive feedback, establishing clear expectations, and developing tailored development plans, organizations can foster employee engagement, improve performance, and achieve strategic objectives.

Benefits Open Enrollment

Open enrollment provides employees with an opportunity to review and adjust their benefit plans.

• Communicate open enrollment period: Inform employees of the enrollment dates and deadlines.
• Review benefit plans: Evaluate current offerings and consider making changes.
• Provide employee education: Offer information sessions or resources to help employees make informed decisions.
• Enroll new employees: Enroll eligible employees in benefit plans.
• Process benefit changes: Update employee records to reflect benefit changes.

A successful open enrollment period empowers employees to make informed decisions about their benefits while ensuring compliance for the employer. By effectively communicating enrollment details, offering comprehensive benefit options, providing educational resources, and efficiently processing changes, HR can enhance employee satisfaction and minimize administrative burdens.

By following this year-end HR checklist, you can ensure a smooth close to the year and a successful start to the next.