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How to Create a Compensation Strategy: A Complete Guide

Decusoft

The incentives for real performance and results are heavily weighted in executive pay. Compensation and incentives are combined with opportunities for professional development within a motivated job climate in this approach. As a compensation manager, your primary concern should be the alignment of pay and performance. Merit Increases.

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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. Labor Department will go into effect.

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Benefits of Compensation Analysis

Decusoft

It is important to conduct compensation data audits frequently in order to produce an equitable and appropriate compensation plan. The aim of this guide is to give you a clear overview of total compensation analysis and the incentives that come with it. . Pay data is compared with employees who perform related jobs in the same field.

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

ConnecTeam

So let’s break it down to figure out exactly how you, as an employer, can stay compliant with the latest FLSA regulations, avoid overtime related lawsuits, keep your payroll cost-effective, while also giving your employees a raise your employees a raise. Inclusion of non-discretionary bonuses and incentive payments.

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A Guide to Planning Your HR Budget for 2022

Analytics in HR

Incremental HR budget – Using the data from the previous years’ HR expenses, it’s possible to make adjustments to the numbers for the upcoming year. Take into account: Employee salaries Health insurance Life insurance Retirement plans Paid time off Overtime pay Bonuses Other perks. Diversity, equity, and inclusion.

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Guest Post – Aflac: A balanced benefits strategy to rest upon in 2021

PlanSource

With so many American workers operating from remote offices, benefits education and enrollment ha ve be come a significant challenge in 2020. . Aflac is working diligently to help businesses effectively manage employees’ benefits concerns through 2020 and into the new year. Telehealth.

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5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

Companies need creative solutions to find the next generation of drivers: · Referrals: One of the best ways to find great drivers is to ask the great drivers on your payroll. Recognition programs may include referral bonuses or non-monetary compensation such as priority for in-demand routes.