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Employee Benefits Management: Getting the Most Out of Your Benefits Plan

Netchex HR Blog

When done properly, employee benefits management helps employees, as well as the company. Because employee benefits can be complicated, and you need a centralized system to manage costs and adjust policies. Employee benefits need to be reassessed periodically.

Benefits and Features of Systematic Payroll Systems

PCS

A payroll system refers to the organized process of paying employees’ wages and filing of employment taxes. Payroll section personnel normally use software in doing calculations and deductions. This system helps in making the payroll process faster and more efficient. Employees must be paid on time. Proper payroll management will ensure that workers are paid the right amount on time. Essential Features and Benefits.

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Employee Benefits Communication: What Clients Need to Know

Extensis

Quick look: Effectively communicating employee benefits is essential during open enrollment season but can also make a positive business impact for clients year-round. On average, employees receive 121 work emails every day. A wealth of benefits expertise at your fingertips.

The Top Payroll Companies in Massachusetts

Genesis HR Solutions

Looking into payroll companies in Massachusetts? But is a payroll company really all the help you need? Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO.

SHRM 2022 Employee Benefits Survey: Evaluating the Trends

Extensis

Quick Look: Adapting to trends while also focusing on what employees really want is essential to maintaining low turnover and an engaged work environment. SHRM released its 2022 Employee Benefits Survey in June, revealing results collected between January 11 and February 28 of this year.

Employee Benefits Enrollment Software: Boost 2021 ROI

SwipeClock

Does your HR toolkit contain employee benefits enrollment software? If not, you aren’t getting the benefits of your benefits. You choose benefits packages carefully because you want to attract high performers. Increased employee turnover.

Who Qualifies For a Workers Compensation Exemption?

Embroker

Workers compensation insurance is among the most important types of business insurance. It is a requirement for most businesses and employees across the country. What is Workers Compensation Insurance? . Need an Employee Benefits Plan?

Payroll Risk Management Strategies

Payactiv

No matter the size or nature of your business, payroll is something you have to monitor and manage carefully. The payroll process can be complex to understand, especially as the rules and regulations governing it are numerous and constantly changing. Employees Who Don’t Exist.

Benefits of Compensation Analysis

Decusoft

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.

Payroll Software Pricing in 2022

TrustRadius HR

Payroll is the lifeblood of HR. Employees can repeat training modules, and HR can revise records. But not paying your employees or paying them the wrong amount is how you get a rebellion (or worse, legal trouble). What Does Payroll Software Do? QuickBooks Payroll.

Tips to help you streamline HR tasks

PeopleStrategy

Right now, for example, you may be wrapping up open enrollment , ensuing all employees have enrolled in – or waived – coverage. It’s best to streamline payroll and other key HR processes, to achieve optimal levels of efficiency and staff productivity.

What is Payroll? A Guide to the Modern Payroll System.

Zenefits

A good payroll system is comprised of many components– but at its core, what is payroll? Payroll refers to a company’s roster of employees and the total wages they are to be paid. There’s a lot to keep track of, which is why we’ve put together this article to help you understand the ins and outs of payroll. . What is Payroll Tax? Employee Type. You’re required to keep all records of an employee’s pay history for at least three years.

Employee Benefits Glossary of Terms

Zenefits

Employee benefits are various types of non-wage compensation that employers can provide workers along with their wages or salaries. They’ve become some of the most critical parts of compensation packages. Ancillary Benefits. Benefits Administration.

The Best Payroll Software For Small Businesses

TrustRadius HR

The average small business owner spends nearly five hours per pay-period processing payroll (Try saying that five times fast). 65% of small business owners said they would rather outsource their payroll processing. 45% said that outsourcing payroll was too costly.

Onpay 83

How to Reduce Payroll Headaches: Pro Tips

Zenefits

Payroll is an essential business function that relies heavily on accuracy. There’s little room for error in payroll because employees must be paid correctly and on time. Plus, employers must comply with numerous payroll laws, and mistakes can lead to penalties. Complianc

A Quick And Simple Guide To Compensation Planning

Vantage Circle

As a leader, compensation planning is one of the skills you will need to master. One of the most important aspects of organizational planning is having a compensation plan that rewards employees and provides competitive pay. What is Compensation Planning?

What is Compensation Management: A Complete Guide

Decusoft

Building a robust compensation management plan is critical for organizations in 2021. A well-researched compensation management plan allows you to meet goals around pay equity and other critical factors while retaining talent and rewarding employees for work well done.

The Best Way to Process Payroll [Updated for 2020]

SwipeClock

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.

5 Payroll Management Tools Every HR Needs

HR Digest

For any business, a handy and adequate Payroll software application is a must-have. These payroll apps not only consolidate the multiple payment processes required into one platform but also offer numerous tools for economic and precise payroll functions.

12 Best Payroll Software Solutions for Small Businesses in 2022

ConnecTeam

Don’t you just LOVE managing payroll? Who here just can’t wait for that time of the month (or week) to calculate employee wages , PTO, taxes, benefits , and all those other super-fun payroll things? And if it can benefit your business in other ways, then even better!

Payroll Best Practices for 2022 and Beyond

Payactiv

The heart of every business is its employees, and these employees need to be paid their wages on a regular basis. Whether a monthly, bi-weekly, or weekly pay schedule, payroll is typically done via a payroll system. What Is Payroll Management? Automate Payroll.

How to Automate Employee Benefits and Healthcare

Zenefits

Managing employee benefits is one of the most important responsibilities of an HR department. These benefits typically include health, dental, vision, disability, retirement, paid time off, sick time, and parental leave. Benefits administration is a full-time job in itself.

3 Unique HR and Payroll Needs for Non-Profit Organizations

Paycor

As such, there are a few unique needs related to Human Resources and payroll that non-profits face. Employees are arguably the most valuable assets in any company, and even more so in non-profit organizations. Compliance challenges. Staying in compliance with government regulations is a major challenge for most businesses, and non-profit organizations are no exception. Employee process efficiency. Employee benefit enrollment or declining forms.

25 HR Compliance Terms to Know for 2018

ClearCompany HRM

In addition to the holiday parties and secret santa gift exchanges, the end of the year also brings organizational compliance processes as your HR department gets ready to wrap things up. Take a look at the 25 HR compliance terms you need to know as a manager: Affirmative Action Plan (AAP): A written set of specific, results-oriented procedures to be followed. Cafeteria Plan: A plan in which an employer offers their employees a variety of different benefits.

How to Create a Compensation Strategy: A Complete Guide

Decusoft

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 . Wellness benefits .

4 tips for managing payroll accurately

Sage HRMS

The recent American Payroll Association “Getting Paid In America ” survey revealed that 92 % of American employees are confident that their paychecks are accurate every pay period. Are your employees’ paychecks consistently accurate? This is essential in building employee trust, credibility, and ultimately, loyalty to the company. Payroll mistakes can lead to complex issues beyond employee compensation and can be very costly for your company.

6 Ways to Decrease Rising Employee Benefits Costs

Zenefits

In a 2021 Kaiser Family Foundation survey , “nearly 90% of large employers surveyed believe the cost of providing health benefits to employees will become unsustainable in the next five-to-10 years, and 85% expect the government will be required to intervene to provide coverage and contain costs.”

Do bar payroll better: Best practices + bar payroll services to consider

Homebase

For a small business owner managing a bar, running payroll for bartenders and the rest of your staff comes with its own set of challenges. Still, it’s important to handle employee paychecks the right way so you can stay compliant and avoid getting into trouble with the IRS.

Consequences of Outdated Employee Benefits Systems

Zenefits

Technology is making remarkable strides across the employee benefits landscape. A 2019-2020 survey found that the vast majority of organizations are utilizing a benefits application in some shape or form. Benefits administration is regarded as the most complex HR process.

PEO Vs. Payroll Service Providers: How Are They Different?

Genesis HR Solutions

Are you wondering whether a Professional Employer Organization (PEO) or payroll service provider is the best fit for your company’s needs? What is a payroll provider? A payroll service provider is a third-party company hired to process a company’s payroll. Compliance ? ?

Your Due Diligence HR Compliance Checklist

HR Digest

This year’s continuing focus on the pandemic and growing concerns over business disruptions means your company needs to make sure its HR policies and procedures cover all areas of HR Compliance thoroughly. HR Compliance Checklist. Employee Files and Records. Benefits.

5 Surprising Stats That Support Total Compensation Statements

PlanSource

5 Surprising Stats That Support Total Compensation Statements. Although the enrollment season is ending, that doesn’t mean your employee communications should stop as well. 71% of Employees Feel Current Employer Education Approaches Are Falling Short. Return to resources.

Tips for Marketing Voluntary Employee Benefits to Your Clients

InfinityHR

The truth is, employees today want more than what employment opportunities have traditionally offered in the past. Those who want to stay ahead of the game have chosen to use voluntary employee benefits as an incentive, with profoundly successful results. Marketing voluntary employee benefits. Marketing voluntary benefits gives companies an extra “wow” factor in the eyes of applicants. Employees are not the only ones to gain from voluntary benefits.

How to Be More Efficient At Your Payroll Job

HR Digest

Payroll job refers to the administration of employees’ financial records including salaries, wages, bonuses, deductions, and net pay. Payroll job can be a daunting process, especially for those small businesses managers that may decide to complete the task in-house. Companies are always looking for ways to streamline this responsibility to make it easier for payroll officers. Always verify your payroll to make sure it complies with the updated tax laws.

How to Process Payroll

Paycor

The best way to process payroll is to not process payroll. Your HR & Payroll provider should do that for you. The truth is payroll is too time intensive and complicated (especially if your business has locations in more than one state). Employee addresses.

What are Pre-Payroll activities? A detailed overview

Keka HR Blog

Payroll Processing is a predestined set of tasks in an organization. Employee compensation payments and other expenses play a major role in work culture while running a company. Employees are considered the most crucial assets of an organization. Defining Payroll Policies.

Data Validation! Gaze before you leap | Pre-Payroll Activities

Keka HR Blog

As an extremely high-volume business activity, payroll is a department where delays, corrections, and reprocessing incidents are all too common, however risky to encounter. Payroll is straightaway related to the compensation of all the employees of an organization.

A Checklist for Managing Your First Payroll

Zenefits

Your small business has been around for a while, but you’ve just gotten around to hiring employees. Or maybe your company is brand new and equipped with employees right out the gate. Either way, it’s time to run your first payroll. Choose a payroll system. Compliance

Free Payroll Tools for Your Small Business

Zenefits

Payroll is the biggest operating expense for most employers, often representing nearly 70% of a company’s total costs. But as a small employer, it’s important to think expansively when it comes to payroll savings, as every source counts — especially during times of economic instability.

Tax Law Fueling Changes to Employer Benefits and Compensation Programs

HR Daily Advisor

The new tax reform law is fueling changes to corporate America’s employee benefits, compensation, total rewards, and executive pay programs, according to a survey by Willis Towers Watson, a global advisory, broking, and solutions company. The tax reform law is creating economic opportunity to invest in their people programs,” said John Bremen, managing director, human capital and benefits, Willis Towers Watson—in a press release.