Beware of Bonus Pitfalls: Overtime and Nonexempt Employees

HR Daily Advisor

I received a call recently from an employer that wanted to know if it could exclude a newly created job category from an annual bonus program. The employer told me it hadn’t thought about doing so because this bonus was paid only once, on an annual basis.

Are Holiday Bonuses Right for Your Company?

HR Payroll Systems

The holiday bonus is something that has made good fodder for holiday comedies for years, but many companies have lately altered their views on the age-old practice. With this in mind, are holiday bonuses right for your company? Holiday Bonus Complications. Merit Based Bonuses.

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Your Employer Guide to Holiday Bonuses

Zenefits

Here’s something else that a lot of employees look forward to this time of year: holiday bonuses. If you’re an employer, you might be wrestling with your decision to give a holiday bonus or not. How much of a bonus is appropriate? And how, exactly, do you define a holiday bonus? Let’s take a look at some holiday bonus guidelines that might help you with your decision. What Is a Holiday Bonus? A holiday bonus is different from a year-end bonus.

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.

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.

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

Compensation Cafe

Unlike Shimmer, the mythical SNL product, ESPPs are actually delicious, effective and available on your compensation store shelves today. They work well when managed by payroll, human resources or a dedicated stock administrator.

Tools 52

3 Innovative Compensation Ideas Ready for Prime Time

Compensation Cafe

When an employee can worry less about meeting base needs, they can focus more on delivering the creativity, passion, and productivity needed for organizational success. Compensation Philosophy Incentives/Bonuses Pay for Performance Recognition

Growing a Healthy Compensation Program -- The Turning Point

Compensation Cafe

New products are in the pipeline, so they're hiring engineers and scientists. Bonus: Healthy Gadgets' business model has shifted from "let's get going" to "grow, grow, grow." Payroll provider: Healthy Gadgets has put up with repeated service lapses by the payroll provider by now.

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. Through a more modern and strategic approach to recognition, companies can fuel employee engagement, productivity, and ultimately drive business results.

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. Purchasing production units is easier than hiring and managing troublesome people.

The Misallocation Dilemma

Compensation Cafe

Government routinely cost-shifts social benefit expenses into employer payroll burden. Demagogues never let facts interfere with opportunities to provoke useful indignation and productive outrage. . More and more money to fewer and fewer people seems to be the trend today.

Ready, Set, Go, Go, Go!!!

Compensation Cafe

They are setting up another production location and we have been talking about how to make this work. Or, at least pretty much leave it at a cool handshake and a new payroll source for their founding employees. I'm working with a small company with huge potential for growth.

Should Your Company Offer Profit Sharing?

HR Payroll Systems

It’s common for companies to offer year-end bonuses to their employees for this reason. However, offering bonuses can become problematic during an economic downturn. If your company cannot offer the usual bonus to employees, they may feel under-valued even if they’ve been working hard.

Rewards Matter: 4 great ways to recognize employees

HR Morning

But for any good employee worth having on your payroll, being recognized for their efforts is as important to them as their paycheck – with the added bonus that a well-planned employee recognition program boosts retention. And a less stressed employee is a more productive one.

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. So instead of peddling fluff, we will offer some practical advice on how to keep your employees happy, motivated, and productive.

Growing a Healthy Compensation Program

Compensation Cafe

If you're an HR office of one, busily juggling everything from beneficiary forms to incentive awards, it's hard to believe that you share any pressures with other HR managers. HR operating context: Predictable revenue and productivity are the company's overarching operating goals.

2 Critical Budget Considerations for Employee Social Recognition Programs

RecognizeThis!

That has to be one of the most common questions I hear when discussing strategy for a social recognition approach that drives desired culture, engagement, productivity and performance. By Derek Irvine. Recognize This!

The importance of HR analytics

Bayzat

HR analytics can be applied to a wide variety of business processes to enhance productivity and efficiency. Compensations and Incentives. Exit surveys and declined offers can be investigated to understand what enhancements could be made to offer better incentives to employees. For example, analyzing how much a C-level employee gets paid and what bonuses are offered to them in other companies can help your company attract and retain top talent.

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.

A Few Thoughts on Expectations Around Pay

Something Different

If organizations are moving away from annual performance conversations and towards continuous feedback ( and it’s working ) then why not have compensation/incentive design reflect this new approach to feedback and performance management?

Business Growth: 3 Suggestions to Help You Boost Your Business

Effortless HR

If your product or service appeals to multiple demographics, take note of this. This refers to the time when your product or service will be used. Compare signup bonuses – Businesses generally have higher expenditures than individuals. It Streamlines Payroll and Time Off.

Sales Job Offer Letter template

Workable

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. Salespeople need to be able to sell your product, so make sure to highlight how sellable your product or service is. Bonus options.

Recognition & Inclusion

Unipos

On the flip side, when employees are motivated in their roles, it will boost both their productivity and their overall satisfaction. Traditional forms of recognition come from the top-down , whereby a manager directly offers words of praise, accolades, rewards or bonuses to their employee.

Paycor Receives WorldatWork 2017 Seal of Distinction

Paycor

Bonus programs. Short-term incentives. Long-term incentives. Supporting Quotes: “Happier, more fulfilled employees lead to better productivity and better service for our clients,” said Karen Crone. In order to remain competitive and productive, organizations must invest in their number one asset — their employees. 17, 2017 — WASHINGTON , D.C.

Minimum Wage Increase: The Positives and the Pitfalls

Paycor

The difference between the current median rate and projected raise in minimum wage would result in an addition in payroll costs to the tune of more than $450,000 per year. VCPs can earn Amazon workers an 8% monthly bonus and a 16% bonus during the hectic November and December seasons.

How to Stay Motivated When Cash Flow Is Down, Distractions Are High

Tsheets

For years, Stapper says he was too focused on day-to-day business tasks, like dealing with clients or products and managing people, which kept him up at night. Payroll.

Be on the Lookout for These Top 10 Workforce Trends in 2016

Asure Software

There must be some off-time for both parties, so that normal work hours can be as productive as possible. Benefit and salary packages should be generous with some unique bonuses involved to peak applicants’ interests. What trends are facing business owners and managers?

Using Performance Feedback to Calculate Pay?

Impraise

Awarding higher pay and bonuses to top performers seems like the straightforward way to incentivize and retain great employees. The most popular format being performance based bonuses, which keep base pay manageable and provide incentives for better performance. Traditionally money was seen as the main incentive used to motivate employees. Higher productivity results in higher salaries and bonuses.

Developer Job Offer Letter template

Workable

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. Candidates are more likely to accept your offer if they understand you invest in building a healthy and safe work environment where they have everything they need to be productive. Bonus potential. Bonus potential.

Outsmart Unplanned (and Costly) Employee Overtime

Insperity

When overtime creeps into your payroll and company culture haphazardly: Your C-suite may see it eating away at profits. Is overtime being used as an incentive or bonus without strategic oversight?

How to Hire for Long-Term Success

FingerCheck

It’s estimated that the cost of replacing an employee is one-fifth of a worker’s salary, and that’s not factoring in the productivity losses that result when an employee leaves.

The Employee Experience: how the right benefits can bolster engagement

Interact-Intranet

High turnover rates, low engagement, and decreased productivity are easily blamed on employees, but unfortunately, the blame lies with the organization. According to a study by QuickBooks Payroll , nearly 45% of employees focus on benefits nearly as much as salary.

The Employee Experience: how the right benefits can bolster engagement

Interact-Intranet

High turnover rates, low engagement, and decreased productivity are easily blamed on employees, but unfortunately, the blame lies with the organization. According to a study by QuickBooks Payroll , nearly 45% of employees focus on benefits nearly as much as salary.

Outsmart Unplanned (and Costly) Employee Overtime

Insperity

When overtime creeps into your payroll and company culture haphazardly: Your C-suite may see it eating away at profits. Your employees may work overtime hours without approval or without pay , feel burdened or burned out, see the distribution of overtime as unfair or wish for other ways to earn a bonus. Is overtime being used as an incentive or bonus without strategic oversight?

20 Simple Reasons Your Top Performers Quit

Bonusly

On the other hand, if your top performers are well compensated and rewarded for their contributions, have a great work-life balance, and feel appreciated, they're going to find very little incentive to leave your team. Their higher productivity goes unrecognized.