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COLA 2023: How the Cost of Living Adjustment Is Calculated for Social Security

HR Digest

As we live through 2023, many social security beneficiaries are wondering how their benefits will be affected by the cost of living adjustment (COLA increase) in 2023. The COLA is a yearly adjustment made to Social Security benefits to help keep up with the rising cost of living. How Is the COLA Calculated?

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HR’s Guide to Analyzing and Lowering Attrition Rate

Analytics in HR

This guide will detail how to calculate attrition rate, factors that impact attrition, and how to analyze your company’s attrition rate score. The attrition rate indicates the percentage of employees who leave an organization compared to the average population employed over a specified period. They are more short-term.

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How to reduce labor costs in a restaurant

Homebase

Next to skyrocketing food costs, labor is the biggest expense for restaurants each year. And as minimum wage creeps higher and higher, it has us wondering: how to reduce labor costs in a restaurant. What are labor costs? New restaurateurs may be surprised to learn that labor costs aren’t just the hourly wages you pay employees.

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What is employee time clock software?

Homebase

Understanding and tracking hours can help manage your labor costs and help you make better staffing decisions. Automate labor costs Great employee time tracking software helps monitor employee hours to ensure that the team you have schedule isn’t exceeding your budgeted labor costs. What is time clock software?

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Crucial HR KPIs you need to make data-driven decisions

Business Management Daily

By keeping track of essential HR metrics like employee turnover rate, time to fill, and recruitment costs — you’ll have a solid grasp of your strengths and top areas for improvement. Yet, there’s no shortage of human resources KPIs out there, so how do you know which you should track? How is that?

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Exempt vs. nonexempt employees: What the difference is and how to classify them

Homebase

More detailed advantages include the fact that they: Aren’t entitled to overtime pay, which can help the company find ways to reduce labor costs. Knowing and understanding the difference between exempt and nonexempt employees helps you ensure that you’re in compliance with labor laws and will keep you out of legal trouble.

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Big Mac and Pay Gap Collide in New Index

Trusaic

It does so by showing you how much more a Big Mac costs you, after adjusting the menu price of a Big Mac to reflect the pay gap you may experience. . Since men, for example, earn on average 18% more than women, they face no gender pay gap – and so the real cost of a Big Mac for them is the same as the average U.S. menu price: $6.05. .