Our NEW isolved release goes live
December 2, 2022
Release 8.23 – is jam-packed with exciting new additions!
We are working hard to provide the best tools for you and your team.
In this release:
- Jobs Screens Updates
- FUTA Credit Reduction
Your jobs screens are about to get a makeover! With the release of version 8.23, our client- and employee- level Jobs screens will have an updated look and feel, with some additional features.
Client Jobs Screen
This screen has tabs which define your jobs as well as adding Job Groups and (new!) Job Levels.
Our updated Jobs tab allows you the ability to filter, sort, add/remove columns, and export data to a spreadsheet. By default, the screen will show job titles grouped by status but that can be changed easily by dragging-and-dropping column headers to and from the grouping area.
The Job Groups tab allows you to set up groups of jobs. Some examples are shown below but this is a field where you can use this field to fit what you need. The most common use of Job Groups is for reporting and eligibility purposes.
Job Levels is a new tab with this release! The screenshot below covers some examples of how this might be used but, you have the power to use the descriptions and salary grades that make sense for your company.
You will notice with this release that the menu under Client Management > Job has been updated. Not only has the Job Groups screen been combined on the Jobs screen, but we have moved the Salary Grades table to the menu for ease of access.
Employee Jobs Screen
The employee Jobs screen will follow suit with its updated look and feel.
When you are adding or updating an employee’s record, there is a new field called Experience which allows you to indicate Occupation Start and Industry Start, which can give insight to a bigger picture of the employee’s history and help with succession planning and compensation management.
Another area that is new is a field which appears when you are using the Salary Grades feature. The Employee Compensation
Metrics area displays the Compa Ratio and the new Salary Penetration field which is displayed on the active job record and compares the current salary of the employee to the total pay range for the job.
FUTA Credit Reduction
The FUTA credit reduction states and rates were released from the Department of Labor on 11/10/2022. https://oui.doleta.gov/unemploy/futa_credit.asp The additional taxes will be calculated on any payroll dated 12/2/2022 through the end of 2022 and are based on FUTA taxable wages in the affected states. Below are the states and the applicable rates:
The amounts collected for the credit reduction are shown as separate line items on applicable payroll reports and reported on Form 940.
Please contact Support if you have any questions about the FUTA credit reduction and how it might affect your company.