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HR vs. Payroll: What’s the Difference?


As your organization grows, you’ll likely add new departments into the mix. Payroll and HR often work together, but seeing where the line gets drawn can be challenging. With small teams, HR can handle payroll, making the lines even blurrier. The U.S.

How To Calculate Total Employee Compensation


New hires cost a lot to train and onboard, so you want to do everything in your power to make sure they stay once you get them. One way to boost employee retention is to make sure employees understand their total compensation. Here’s how: What is Total Employee Compensation?


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Benefits of Compensation Analysis


It is important to conduct compensation data audits frequently in order to produce an equitable and appropriate compensation plan. A comprehensive salary report offers the facts and insights needed to make critical choices on executive pay and overall benefits. Learning seminars.

Sales Manager Compensation Plan


Sales managers play a unique role in your business and need compensation strategies tailored to their specific skills and abilities. Sales managers need a balance of base salary and variable incentives that motivate them to lead their team. What Is a Sales Compensation Plan?

The Best Way to Process Payroll [Updated for 2020]


Or you own an existing one that is moving into the realm of employees. Payroll is one of the most important processes to handle correctly. Learn to Process Payroll Efficiently and Legally. We’ve created a comprehensive 5-part payroll processing guide to help you.

How to Create a Compensation Strategy: A Complete Guide


What is Executive Compensation? . Executive compensation programs are influenced by a variety of factors today. As a compensation manager, your primary concern should be the alignment of pay and performance. Compensation Strategy Allocation . Flexible time off .

What’s the Best Way to Get Bonuses to Remote Employees?


If you’re like many businesses coming out of the pandemic economic shutdowns, you’re managing more remote employees than you used to. Unfortunately, this can make simple tasks like onboarding, open enrollment, and even handing out bonus packages a headache. Annual bonus.

10 Ways HR Technology Helps Manage Labor Cost More Effectively

Netchex HR Blog

In many industries, labor cost is one of the biggest expenses for a business. According to the Bureau of Labor Statistics, wages and salary costs make up about 70% of employer costs for employee compensation. The remaining 30%of costs go toward benefits.

Payroll Terms and Definitions: A Comprehensive Glossary


Payroll is one of the most crucial aspects of running a business — but it’s far from easy trying to learn and remember payroll terminology and jargon. If you’ve found yourself struggling to remember payroll vocabulary, don’t fret. Bonus.

Salaries 101: Creating Your Company’s Compensation Plan


The business of employment is ever-changing. The labor market is constantly shifting, workplace laws are always evolving, and business needs are always in a state of flux. Still, some things have remained constant, such as the value of compensation. Direct compensation.

What is a total compensation statement & how does it provide value?

Genesis HR Solutions

Though your benefits package may be quite substantial, your employees may not know or understand the real value of the benefits you offer. And they may continue to remain unaware of the “hidden” benefits they are receiving even as healthcare costs rise, and you, the employer, absorb the increases. In an effort to show employees the true value of their compensation, benefits factored in, many employers are providing total compensation statements.

FLSA Chaos, Exploiting Exempts and Living Laboratories

Compensation Cafe

Even if the new Fair Labor Standards Act proposed salary test threshold increase is cancelled, 2017 will still remain an exciting year for pay. Claims about the effects of government mandates to increase the cost of labor will be studied and examined, even as exempts continue to be exploited. That nice pay bump, if supported by the incoming President, will be expensive for employers suddenly facing major increases in their fixed payroll costs.

Minimum Wage Increase: The Positives and the Pitfalls


The Times, They Are A’Changin’ (But the Money’s Not). Adjusted for inflation, the federal minimum wage peaked in 1968 at $12.22 (in 2018 dollars). Yet, the current federal minimum wage has remained stagnant at $7.25 per hour for more than a decade even though the cumulative rate of inflation has risen more than 17%. Eighteen states and localities raised their minimum wages in 2018. The increase also includes Whole Foods employees.

Beyond Financial Wellness: Why Every CHRO Needs a Chief Payroll Officer


Beyond Financial Wellness: Why Every CHRO Needs a Chief Payroll Officer. Beyond Financial Wellness: Why Every CHRO Needs a Chief Payroll Officer. In their everyday lives, today’s employees expect the services they receive to be instant and seamlessly delivered. Webinar Series.


Avoid an HR Headache with these 25 Tips


The expectations business leaders place upon their human resource departments are increasing. Years ago, the role of HR centered around filing employee paperwork, navigating benefits, and a range of activities meant to avoid compliance fines and lawsuits. Avoid Wage and Hour HR Issues.

Steps For Preventing Covid Related Layoffs

Abel HR

Just last week, Disney announced that it was laying off nearly a quarter of its staff, largely at its Florida and California-based theme parks, in response to the fall-out from the COVID-19 pandemic. Worried that fewer hours in the office will tank productivity?

COVID-19: What to Do If You Can’t Make Payroll


As a small employer, you’re likely running on limited resources, and payroll is probably your biggest operating expense. It’s also a pretty inflexible expense, as the law requires you to pay your employees on time. Apply for the SBA’s COVID-19 disaster loan.

20 Essential HR Policies Every Company Must Cover

Netchex HR Blog

The HR compliance landscape is continually evolving. Since people are undoubtedly complicated, companies need numerous HR policies to manage the way people work and clarify your expectations for employee behavior, performance, and development. What is the purpose of HR policies?

HR for Startups: A Guide to Setting Up the HR Function


The short answer is yes ; startups do need HR. They take on several jobs and tasks, including Human Resources, despite having no proper HR training. The problem is that this leads to great disharmony within the team, which is a significant contributor to the failure of startups.

HR Glossary of Terms


ATS, employee handbook, HRIS, workers’ comp … there are plenty of acronyms and terms in the HR world to know and stay on top of. Sometimes you need a glossary on hand when you’re stuck trying to remember a definition, or you’re wanting to learn some new terminology.

Trouble Hiring? Creative Ways to Attract New Workers in a Tight Labor Market


With more than half the states cancelling enhanced pandemic unemployment benefits, hiring rates are rising, but not fast enough to keep pace with need. . The challenge for business is to attract and retain talent in a difficult market. Consider offering what the government doesn’t.

How to Conduct a Pay Audit, and Why It Matters


Employees expect fair compensation for the work they put in. However, the gender pay gap continues to persist , with women earning 82 cents for each dollar a man makes. To promote fair compensation , federal, state, and local governments have enacted equal pay laws.

How to Comply with the New Overtime Rules in 2020


Workers in the United States have long been known for their hard and dedicated work ethic. Compared to the rest of the developed world, employees in the United States work significantly more than their peers. workers put in around 70 more hours per year than their peers in Japan and an incredible 350 more hours than similar workers in Europe. While this is partly due to the lack of U.S. The U.S. What do the New Overtime Rules Stipulate?

Developer Job Offer Letter template


When offering a job to your best developer candidate, congratulate them and highlight how they will contribute to the mission of your products and company, especially if you’re a smaller company that is still establishing its brand. Here are a few ideas: Flexible working hours. Dear [ Candidate_name ], We’re delighted to extend this offer of employment for the position of [ Job title ] with [ Company_name ]. Cash compensation. Bonus potential. Cash Compensation.

2019 HR & Compliance Web Summit: Executive Summary


Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. If you missed the live webinars you can watch them on our on-demand webinar page. In the meantime, here’s a quick overview of each session. In today’s business environment only 20% of HR professionals interact with the executive suite. Maintaining compliance for the organization.

Understanding the Gender Pay Gap: The Importance of Gender Pay Equity


Over the past century, more and more women have been entering the workforce, obtaining higher degrees, and clocking in more hours. This difference in pay is what we call the gender pay gap, and its effects on the workforce and society are quite noticeable.