2024 Year-End HR Checklist

As 2024 draws to a close, businesses should prioritize reviewing their HR practices to ensure a strong start to the new year. By addressing key areas—from compliance updates and employee evaluations to policy reviews and compensation planning—your business can close out the year with confidence and clarity. Review this comprehensive checklist to guide you through the essential tasks for a smooth transition into the next year.

1. Review Employee Files & Documentation

• Verify that employee files are up to date, including tax forms, emergency contact information, and mailing address for W2 distribution in the new year.

2. Prepare for DOL Salary Threshold Increase

• As of January 1, 2025, the U.S. Department of Labor will increase the minimum salary threshold for exempt employees to $1,128 per week ($58,656 per year).
• Review and adjust employee classifications and/or pay rates to ensure compliance, particularly for those in salary ranges near the new threshold.

3. Conduct Performance Reviews

• Complete year-end performance evaluations and document feedback and goals.
• Set objectives for the upcoming year, including training and development opportunities.

4. Update Company Policies & Employee Handbook

• Review and revise the employee handbook to ensure it reflects current policies, employment regulation updates, and best practices.
• Communicate any policy changes to employees and obtain acknowledgment.

5. Review Compensation & Bonuses

• Assess employee salaries to ensure they align with market rates and budgets.
• Decide on year-end bonuses, incentives, or merit increases based on performance and company performance.

6. Confirm Time-Off & PTO Balances

• Review each employee’s remaining paid time off (PTO)/vacation days.
• Remind employees of your carry-over policy, if applicable, or remind employees to use remaining days by year’s end.

7. Prepare for Workforce Planning

• Review projected staffing needs for the upcoming year based on business goals.
• Plan for potential hires, promotions, or internal movements to support business growth.

8. Assess Employee Engagement & Satisfaction

• Conduct an end-of-year survey to gauge employee satisfaction, engagement, and areas for improvement.
• Analyze feedback to create actionable steps for fostering a positive workplace culture.

9. Archive Records & Prepare for the New Year

• Organize and archive necessary documents, including terminated employee records, in accordance with legal retention guidelines.

A checklist like this helps streamline year-end HR tasks, ensuring your business stays compliant and is set up for a smooth transition into the new year. As always, Blueprint HRM, LLC is here to provide support in helping you prepare for 2025. Contact Suzi Tropiano, SHRM-SCP to discuss this checklist and prepare for a successful new year.