6 Things You Think Are True, But Aren’t (Compensation Edition)

Compensation Cafe

Incentive pay motivates people to perform. It has been sold to businesses that a great incentive program can motivate a person. Incentive plans are there to remind everyone of what is important and to reward them if they stay focused and achieve their objectives.

Astronology®: 2020 Compensation Budgeting Forecast Part 2: Incentives, Bonuses, and Variable Compensation

Astron Solutions

The design and implementation of variable compensation programs continue to grow throughout 2019 and it appears that this trend will continue into 2020. The following is a summary of trends and survey reports impacting variable pay decisions in 2020. Planned 2020 Mean.

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5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

Recognition programs may include referral bonuses or non-monetary compensation such as priority for in-demand routes. Here are some specific health and wellness strategies you can roll out in 2020: · Preventative Screenings: Drivers spend a large portion of their time on the road.

A Dynamic Approach to Measuring performance in HR analytics

Analytics in HR

Collecting data on employees’ performance is an important part of HR practice. This approach is often used to determine work incentives and bonuses, as well as identify which employees need additional training and development. Imagine you’re looking at data from a sales company.

Fond of Work: Darleen Souza, Senior Vice President & CHRO at Albany Medical Center

Fond

A long-term goal is to create a system-wide incentive program that everyone benefits from — regardless of positions — based on purpose and cascading goals. A bonus and a cake only happen once a year. Information without data is just another opinion.

CHRO 63

Using Performance & Market Data to Guide Pay Decisions

HRsoft

For example, while market data should guide pay to some degree, factors like individual performance must also be weighed to ensure fair and equitable compensation. It allows you to pull data from a variety of sources to make informed yet effective choices for salary increases, merit awards, and more. This means looking at market data to help you form appropriate salary ranges for each position. Ideally, you should gather market data from three to four sources.

The future of talent acquisition: Two experts talk about recruitment tech in 2020

Workable

And how can all these tools help you solve your 2020 recruitment challenges? 5, 2019, with the title “The Tech It Takes To Find Candidates in 2020”. What are the biggest takeaways from 2020? What are the biggest takeaways from 2020?

13 Top Recruiting Strategies to Use in 2020

Digital HR Tech

And to increase your chances of winning in 2020, we’ve listed 13 top recruiting strategies. use data) 13. You can use a dedicated augmented writing tool that uses data and predictive analytics to determine what kind of writing works for your company and culture. use data).

How to Comply with the New Overtime Rules in 2020

Mitrefinch

Starting on January 1 st , 2020, new overtime pay rules which were recently passed by the U.S. Employers would do well to evaluate their systems for several payroll items, including bonuses, overtime tracking, and daily time-keeping of time worked.

Top 10 HR Best Practices to build Better Workplaces in 2020

CuteHR

These areas include employment and selection, training for better skills and development, transparency, benefits for employees, employee incentives, compensation and evaluations, and terminations. Performance-based bonuses.

Intel Incents Employees to Help It Diversify

HRExecutive

Intel has announced it will double its employee referral bonus for employees who help the giant chipmaker diversify its workforce. Of course, we always want you to refer your brilliant friends from all fields and backgrounds, so the standard ERP (employee referral program) bonus will continue,” Intel said in a statement that was reported by OregonLive (Intel has a major presence in Oregon, employing 18,600 people there). According to its latest data, three quarters of Intel’s U.S.

4 Killer Outbound Sales Prospecting Tactics for 2020

Lusha

And with the vast amount of data available to us in 2019, it’s time to reconsider what that research really looks like now. With or without your automation tools, there are new data resources to pull from thanks to the advancements we’ve seen in recent years.

Tools 52

4 Killer Outbound Sales Prospecting Tactics for 2020

Lusha

And with the vast amount of data available to us in 2019, it’s time to reconsider what that research really looks like now. With or without your automation tools, there are new data resources to pull from thanks to the advancements we’ve seen in recent years.

Tools 52

How Are Salaries Affecting Millenial Engagement?

Compensation Cafe

The New York Times included an op-ed with data to support this statement, "People between the ages of 25 and 34 were earning slightly less in 2017 than people in that same age group had been in 2000." By 2020 , 46% of U.S. Millennials.

Equity for the Gig Economy?

Compensation Cafe

A 2017 study by Intuit predicts that 43% of US workers will be members of this group by 2020. I await other writers to address things like market data, retirement, pay equity and so much more. Models for this don’t exist and reliable market data will not exist for years.

Astronology®: 2020 Compensation Budgeting Forecast Part 3:Trends in Not-for-Profit Executive Compensation

Astron Solutions

Let’s take a closer look at the issues surrounding not-for-profit executive compensation, as well as some alternatives Astron’s clients are entertaining for 2020. We predict that this trend will continue to grow in 2020. Restricted Executive Bonus Arrangements (“REBAs”).

How to Meet the New Overtime Regulation Using People Analytics

Visier

The new rate will take effect on January 1, 2020. This isn’t the first time organizations needed to analyze their workforce data for regulatory or legal reasons–and it won’t be the last. It’s a daunting task because data is everywhere. Make your people data work for you.

Salary Cut-Off Raised to $35,568 in New Overtime Ruling

BeyondPay

On September 24, the DOL ruled for the new rate to take effect January 1, 2020. . Non-discretionary bonuses, Incentive Payments and Commissions. Employers should begin pulling data for exempt workers who are earning below the new threshold.

New overtime rule, affecting 1.3 million US workers, finally arrives

Tsheets

The DOL’s new overtime rule takes effect on January 1, 2020. On September 24, 2019, the Department of Labor (DOL) announced the new overtime rule—set to take effect on January 1, 2020. . With accurate employee time data, you can make sound decisions about employee classifications. .

The USDOL finally gives us the updated Overtime Rule!

OmegaHR Solutions

The salary amount accounts for wage growth since the 2004 rulemaking by using the most current data available at the time the Department drafted the final rule. Treatment of Nondiscretionary Bonuses and Incentive Payments.

The DOL final overtime rule is out today. Here is what employers need to know now.

The Employer Handbook

It is the standard salary level to the 20th percentile of full-time salaried workers in the lowest-wage Census Region (the South) and/or in the retail industry nationally using current data. What if we pay our employees nondiscretionary bonuses or other incentive payments?

BREAKING-ish, sorta, not really. Yeah, you knew this was coming. The DOL officially announces overtime changes.

The Employer Handbook

This new proposal would update the salary threshold using current wage data, projected to January 1, 2020. Image Credit: Pexels.com ([link]. Before all the Facebook creepiness , pukey-poopy emojis , and gushing over my awesome law firm , I foreshadowed some changes from the U.S.

Relying on Traditional HR Will Lose You the Analytics Talent Race

Analytics in HR

The war for talent is raging across industries and countries, and nowhere is the fight more intense than in data science and analytics. In fact, Gartner anticipates that there will be a shortage of 100,000 data scientists in the United States alone by 2020. A US consumer goods company recently learned that its incentive package is popular in core business and IT areas, but not among analytics talent; specifically, retention bonuses were less effective.

How to Give Your Employees a Raise Using the FLSA Overtime Rule Amendment

ConnecTeam

Inclusion of non-discretionary bonuses and incentive payments. Everyone likes bonuses and incentive payments. It’s important to note that non-discretionary bonuses are generally defined as bonuses promised or agreed on in advance.

Benefits and Rewards – Why Employees Want More

NGA Human Resources

By 2020, 50% of our colleagues will be millennials (aged 23-38). One of the great advantages of this is single source HR data and so the ability to administer seamless admin checks. Spot bonuses or cash incentives. by Simon Porter. The workforce is changing.

Benefits and Rewards – Why Employees Want More

NGA Human Resources

By 2020, 50% of our colleagues will be millennials (aged 23-38). One of the great advantages of this is single source HR data and so the ability to administer seamless admin checks. Spot bonuses or cash incentives. by Simon Porter. The workforce is changing.

2019 HR & Compliance Web Summit: Executive Summary

Paycor

Amy reports that laws were passed just this month making changes to FLSA for 2020. W-4 Changes In 2020: What You Need to Know |Speakers: Paycor Compliance Team. Review the withholding for 2020. The Data You Need to Win Over the CFO | Speaker: Tim Ruge.

Why Referrals Might Be Hurting Your Diversity Efforts (and What You Can Do to Change That)

Linkedin Talent Blog

PayScale’s data reveals that despite making up just 34% of the labor market in the US, white men account for 40% of successful referrals. This data is unsurprising. Intel offers bigger bonuses for diverse referrals. That’s double the typical referral bonus.

Updated List of Cities and States with a Salary History Ban

Zenefits

Pew Research reported that in 2018, women earned 85 cents to every man’s dollar, up 5% from Census Bureau data of 2017. Another reports that bonuses and other forms of incentive pay add to the problem. Last yeah, Zenefits produced an equal pay report based on original SMB data, which found that the gender wage gap in small businesses was 18% greater than the national average. Cincinnati, Ohio (effective March 2020).

An Overview of the New FLSA Overtime Rules

Ultimate Software

Effective December 1, 2016, the threshold will increase to $913 per week for regular employees and $134,004 per year for HCEs, and will adjust every three years beginning on January 1, 2020. Has enough time has been set aside to establish such codes and ensure proper data feeds?