article thumbnail

HR vs. Payroll: What’s the Difference?

Zenefits

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. If your organization has two separate departments or you want to create them, it’s time to learn the difference between payroll and HR. What are HR functions?

article thumbnail

Employee Cost: How to Calculate the Cost of an Employee?

HR Lineup

Bonuses and Commissions: Additional incentives provided to employees based on performance, sales targets, or other predefined criteria. Benefits: These encompass various perks and protections offered to employees, including health insurance , retirement plans, paid time off, and other fringe benefits.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Redefining Compensation: Cultivating Success Through Progressive Remuneration Strategies

EmployeeConnect

It’s a comprehensive offering, a smartly crafted tapestry of benefits and incentives designed by an organisation for its workforce. Performance bonuses, incentives, or commissions are common forms of such rewards. Inclusion of life insurance and retirement benefits. Unfamiliar with the concept?

article thumbnail

Paycheck Protection Program: How to Ensure Your Business is Eligible for Loan Forgiveness

Netchex HR Blog

Part of the CARES Act passed in March (and then replenished a month later ), the Paycheck Protection Program (PPP) is a loan program for small businesses designed to provide a direct incentive for keeping their workers on the payroll. How are “payroll costs” defined under the PPP? Does not include 1099 payments.

article thumbnail

Guide to Hiring Employees in the Bahamas

Recruiters Lineup

Additionally, employers should be mindful of overtime regulations, bonuses, and other forms of remuneration to guarantee compliance with the legal framework governing employee compensation. Payroll in the Bahamas: Income Tax Rates: The Bahamas does not impose income tax on individuals.

article thumbnail

Guide to Hiring Employees in Ukraine

Recruiters Lineup

Payroll and Taxes in Ukraine Here is a general overview of payroll and taxes in Ukraine: Payroll in Ukraine: Salary Calculation: Salaries are typically calculated on a monthly basis. Bonuses and Benefits: Non-monetary benefits such as health insurance and other perks might be included in the overall compensation package.

article thumbnail

Could an Early Retirement Package Incentivize Employees to Retire?

Zenefits

Business owners know how costly it can be to have more senior level employees on the payroll than newcomers. Annual raises and bonuses can put these staff members at the highest level of compensation, often for decades, as their organization waits for them to retire. Are they retirement ready?