Is Your Annual Bonus Guaranteed?

Compensation Cafe

When worried organizations consider methods to get their arms around (control) high payroll expenses, they typically turn a blind eye to the variable pay component, to annual bonuses or incentives. Just be careful not to over-compensate the incentive payments to make up any loss.

6 Types of Bonuses and Perks for Employees

HR Digest

. Bonuses are a way to show appreciation of an employee’s effort or performing a task beyond and above the call of duty. He says structured bonus programs are still very popular with organisations and on average companies are planning to budget 13 per cent of their payroll for bonus expenses.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

That’s an especially big problem in an industry already facing high turnover. The transportation and logistics industry faces two serious headwinds. First, the industry suffers from consistently high turnover-in some cases close to 100% annualized.

Is Your Annual Incentive Pay Plan the Right Fit for Your Business?

Insperity

You need to develop an effective incentive plan. Overall, the most common strategy is an annual incentive pay plan. But is an annual incentive pay plan really the best way to motivate employees? How an annual incentive pay plan works.

Cafe Classic: Put Pay in its Place

Compensation Cafe

For example, it has been well known throughout history that cash prizes cannot inspire creativity and everyone knows that poorly designed or morally hazardous incentive systems can distract workers from proper performance: but solid pay is a vital first step.

Is Your Annual Incentive Pay Plan the Right Fit For Your Business?

Insperity

You need to develop an effective incentive plan. Overall, the most common strategy is an annual incentive pay plan. But is an annual incentive pay plan really the best way to motivate employees? How an annual incentive pay plan works. With an annual incentive pay plan, employees earn a payout, often expressed in terms of percentage of salary, when they achieve performance-related goals. An annual incentive pay plan should: Reward high performance.

A Day in the Life of a Payroll Professional: Cheri Greene

Namely

In our Day in the Life series, we speak with pros from a variety of cities and industries to get a snapshot of their work lives. In her new role, Cheri works closely with the HR department to process the company’s payroll. I often get emails from employees with payroll questions.

Cafe Classic: ESPPs are a Dessert Topping and a Floor Wax

Compensation Cafe

They work well when managed by payroll, human resources or a dedicated stock administrator. How many incentive programs allow participants to directly choose their level of engagement?

Tools 52

Equity for the Gig Economy?

Compensation Cafe

At least most people in the service industry had “jobs” and were “employees” with the associated benefits that come with both. Companies who are not paying payroll taxes and other employee benefits may have greater budgets to offer additional equity. I am not going to bury the lead.

3 Innovative Compensation Ideas Ready for Prime Time

Compensation Cafe

What if we put a portion of payroll into everyone’s hands to apportion to those they see doing great work in a system with oversight and governance? Compensation Philosophy Incentives/Bonuses Pay for Performance Recognition

Not All Rewards Jingle

Compensation Cafe

This total rewards generalist is convinced that we need a deeper understanding of the unique powers of one of the most neglected incentive methods — recognition. More than money counts. There are many motivational devices besides pay.

What Do You Do?

Compensation Cafe

Maybe you had to explain it for the umpteenth time to a family member who spent the past year sending you articles about payroll. They may need help on problems with salaries, bonuses or a certain benefit.

The Great Christmas Giveaway

Compensation Cafe

So how do we know that the incentive plans continue to run effectively, aren't wasting money, aren't creating inequities and aren't fostering employee discontent? Incentive Review Paperwork : You have forms meant to assess performance for your annual management incentive plan (or others).

Outing Outsourcing and the Gig Economy

Compensation Cafe

The accelerating trend towards reducing payrolls by replacing employees with outside contractors threatens our livelihoods. . No complicated benefit selections, no individualized payroll deductions.

Where Have All the Raises Gone?

Compensation Cafe

Last month The New York Times ran an article bemoaning the loss of pay raises in favor of one-time bonuses and non-monetary rewards. The share of payroll budgets devoted to straight salary increases sank to a low of 1.8 percent of payrolls.

Merit Deserves More than Mere Money

Compensation Cafe

This is an excellent time to expand your thinking beyond the limited boundaries of payroll budgets. It does seem impossible to achieve a credible pay for performance (merit) system with lean payroll budgets constrained by low increase authorizations.

FLSA Chaos, Exploiting Exempts and Living Laboratories

Compensation Cafe

That nice pay bump, if supported by the incoming President, will be expensive for employers suddenly facing major increases in their fixed payroll costs. Base Salaries Incentives/Bonuses Nonprofit Compensation Performance Management Total Rewards

Shrinking the Student Loan Debt: Let’s Start at Work

HR Daily Advisor

Employees in every industry are burdened with student loan debt. Biweekly payroll deduction: If employers want to help employees pay back their student loans in a more direct way, setting up a biweekly payroll deduction that goes toward their student loan payments is an effective way to do so.

Why Must Employers Teach Employees About Total Rewards?

NGA Human Resources

It groups together the total value of base pay, bonuses and equity with any benefits (monetary and other) plus and additional employee perks. Anything above can cost more in administrating than any results the incentives can deliver. . Featured Payrollby Anita Lettink.

Six Creative Ways to Empower Your Employees

Effortless HR

Keeping a team of experts committed to your company goals on your payroll will keep productivity consistently high. Offer Consistent Incentives and Bonuses. We believe that creating custom incentive and bonus plans for each employee has its benefits.

What is Compensation Management?

Zenefits

Compensation management is the process of ensuring that an organization’s salaries and bonuses remain competitive, appropriate, and equitable. If salary, bonuses, and benefits aren’t managed properly, employees might find much better comp packages elsewhere, performance and job satisfaction could decline, and several other factors could negatively impact the business. Wellness incentive programs, in particular, are having a major impact on employee compensation packages.”

Attract And Manage Top Talent In Your Small Business

SuccessFactors

Maybe you don’t have the ability to woo talent with big signing bonuses and salaries. Implement a bonus structure in addition to annual compensation to attract and incentive your employees.

The importance of HR analytics

Bayzat

Compensations and Incentives. HR analytics can be used by organizations to analyze a large amount of employee data and ensure packages offered are on par with industry averages. Exit surveys and declined offers can be investigated to understand what enhancements could be made to offer better incentives to employees. Today, most organizations rely on actual data to make informed decisions on how to run their business.

Why Must Employers Teach Employees About Total Rewards?

NGA Human Resources

It groups together the total value of base pay, bonuses and equity with any benefits (monetary and other) plus and additional employee perks. Anything above can cost more in administrating than any results the incentives can deliver. . Payrollby Anita Lettink.

I’m With the Government, and I’m Here to Help

HR Daily Advisor

All employers are fair game (employee complaints are believed to be the largest source, although the DOL won’t disclose the reason for an audit), but the agency has emphasized its efforts in what it describes as low-wage/high-violation industries. The U.S.

Top 10 HR Best Practices to build Better Workplaces in 2020

CuteHR

It is the idea that there are universal HR principles that offer companies with the best business performance, irrespective of which organization or industry they are applied to. Performance-based bonuses.

Recognition & Inclusion

Unipos

McKinsey & Company provided the following statistics from their Diversity Matters report : Companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.

Sales Job Offer Letter template

Workable

The sales industry is notorious for its high turnover. Compensation packages for salespeople often include performance-based commission or standard bonuses (when the entire sales team achieves quotas, or when the entire company achieves its goals.) Bonuses. Motivate potential sales hires to go beyond targets by offering incentives when they outperform their established goals. Bonus options. Bonus options.

Business Growth: 3 Suggestions to Help You Boost Your Business

Effortless HR

Start considering who your competitors are, how you can outmaneuver them or how you can carve out a niche in your industry. Compare signup bonuses – Businesses generally have higher expenditures than individuals. It Streamlines Payroll and Time Off.

Paycor Receives WorldatWork 2017 Seal of Distinction

Paycor

PRWEB ) — Paycor , the industry leading Human Capital Management provider for SMBs, today announced they have earned WorldatWork Seal of Distinction for 2017. Bonus programs. Short-term incentives. Long-term incentives. This year’s recipients represent industries of education, finance, government, health, law, manufacturing, and pharmaceuticals – and hail from 36 states, the District of Columbia and Canada. 17, 2017 — WASHINGTON , D.C.

5 Tips for Motivating the Best Employees at Your Small Business

HR Payroll Systems

Pay More than the Industry Average. Paying employees slightly more than the industry average and giving frequent raises can help to keep employees from straying to other companies willing to pay more.

Is the Unemployment Rate Making it Difficult to Find Employees?

AbelHR

And because there aren’t that many eyes looking out for jobs, your old strategies for getting folks in the door – and on the payroll – fall flat too. Did you know that there are industry standards that you must comply with when posting a new job?

The Small Business Guide to 401(k) Matching

Guideline

Between the tax advantages and this year’s higher contribution limits, employees have plenty of incentive to put money aside for retirement. So how does this important incentive work? We all want to find our perfect match—especially one we can retire with.

Types of HR Software: A Guide

Capterra

These systems let you track and automate compensation plans for employees including bonuses, incentive programs and commissions, and salary planning. Payroll. The world of HR software can be a confusing one.

Employee Benefits: Long-Term Beats Short-Term

TalentCulture

Of course, turnover is expected, especially in industries like advertising. Rather than focus solely on culture as a replacement for rewards, why not add significant long-term incentives to let employees know you’re serious if they’re serious?