Donald Trump seemed to forge ahead on his promise to be the “first crypto president” with a flurry of cryptocurrency-related activities in recent months. He hosted a private dinner for investors in his meme coin, $TRUMP, in May, and pardoned three co-founders and a former employee of the crypto exchange BitMEX, who previously pled guilty to violating the Bank Secrecy Act, in March.

One decision that the administration rolled out with less fanfare, but is nevertheless relevant to HR professionals, was a May 28 announcement that the Department of Labor rescinded Biden-era guidance cautioning retirement plan sponsors against including cryptocurrency investment options in their retirement plans.

In a press release explaining the decision, Labor Secretary Lori Chavez-DeRemer called the 2022 guidance an “overreach,” and said the administration hoped to send the message that “investment decisions should be made by fiduciaries, not DC bureaucrats.”

The potential presence of crypto in 401(k) accounts is part of a broader shift to include alternative investments, such as private equity, in retirement plans. But just because the administration rescinded this guidance doesn’t mean employers should embrace cryptocurrency for their workers’ retirement benefits, one expert told HR Brew.

For more on the rise of crypto benefits in the retirement space and their implications, keep reading here.—CV

We’re pouring one out for recruiters at small businesses.

While comprising nearly half of all private employment, small businesses often don’t have the resources that larger companies have at their disposal, like an applicant tracking system (ATS).

That’s the case for Dana Bozich, an HR pro at the Maryland-based fire and safety protection company Relay Fire and Safety. Bozich, who joined the company in 2023, serves as its recruitment team of one. As the private equity-backed business plans to grow, Bozich will oversee hiring for all roles including for technicians, sales, and accounting—while handling nearly all of it by relying on just spreadsheets because her company doesn’t yet have an ATS.

“Pivot tables are my friend,” she joked.

For more on the challenges HR pros face at small businesses and other insights, keep reading here.—PM

Google and Amazon are moving to more generously compensate top performers at their organizations, according to a pair of recent reports from Business Insider.

The decisions reflect a broader desire among corporate leaders to drive productivity, often while dealing with reduced headcount and compensation budgets.

But employees are more attuned than ever to compensation trends in today’s environment of heightened transparency, and may feel discouraged if their company moves the goalposts on pay or performance. That’s why HR teams considering shakeups to their performance review processes need to clearly communicate their rationale for doing so, experts told HR Brew.

For more on how big tech companies are increasing rewards for top performers, keep reading here.—CV

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