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How HR tech can help manage COVID compensation changes

HRExecutive

This is the first in a series on compensation during the pandemic. *. Effectively deploying a fair, equality-driven compensation plan has been an ongoing challenge for HR executives. See also: HR tech’s role in a coronavirus-era employee experience.

A Full Guide to Compensation and Benefits

Digital HR Tech

Compensation and benefits refer to the benefits a firm provides to its employees in exchange for their labor. Compensation and benefits are thus a key part of Human Resource Management. In this article, we will provide you with a full guide about compensation and benefits. Contents What are compensation and benefits? Why are compensation and benefits important? What are compensation and benefits?

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12 Amazing Employee Engagement Survey Questions To Ask

SurveySparrow

Engaged employees are productive hard workers who are positive and passionate about their organization. After all, happy employees equal happy customers right! Let’s take a look at why employee engagement surveys and employee experience management are crucial.

6 Employee Benefits That Will Drive Engagement In 2020

PlanSource

You’d be hard-pressed to find an owner or manager that doesn’t recognize the importance of employee engagement. It’s a fact: The more actively engaged your employees are in their work, the more productive they’ll be. According to a study by Gallup , increased employee engagement can lead to a 21% spike in productivity—and a 22% spike in profits. More than just a competitive salary, you also need to offer strategic benefits to keep your employees engaged.

Student Loan Repayment 101: The Lowdown on 2020’s Hottest Employee Benefit

PlanSource

Chances are, you’ve probably heard about student loan repayment as an employee benefit. Many large employers have rolled this handy financial wellness perk into compensation packages as a way to attract and retain talent (notably, millennials) and provide better financial wellness support to employees across the board. . While innovative, student loan debt repayment as an employee benefit might not make sense for every employer.

4 Ways Employee Engagement Has Improved in the Past Decade

Hireology

Employee engagement is critical to building long-term relationships and boosting productivity across your team. And thanks largely in part to the latest technology, employee engagement has improved significantly in the past decade. . Many employee tasks that were previously manual or tedious are now automated, and technology empowers employees to tap into more flexible work arrangements when needed. Centralize employee benefits .

Drive Employee Engagement with Transparency into Overall Benefits

Hireology

During the hiring process, prospective employees are likely the most excited about what your team has to offer and your overall benefits. But it’s critical to keep this momentum going once new hires are on board and encourage ongoing employee engagement. . One way to keep employees motivated about doing great work for your team is by providing ongoing transparency into the benefits your team has to offer. Make Employees Feel Valued.

Driving Employee Engagement: 4 Criteria to Look for in a Payroll and HR System

Hireology

Your team likely puts a lot of effort into keeping candidates engaged throughout the hiring process but it’s just as important to support employee engagement post-hire. In today’s applicant-driven economy, if you don’t offer your team a top-notch employee experience, your most qualified employees won’t hesitate to seek opportunities elsewhere. . Most employees spend the majority of their first day filling out administrative paperwork.

Tips to Keep Employees Engaged and Motivated when they are Working-From-Home (WFH)

Vantage Circle

One of the measures taken by organizations, affecting almost all employees is the realisation that ‘work’ is not a place. " But working-from-home comes with its own set of unique challenges—both for the employees and employers. So how to make sure employees are engaged and motivated even when they are away from their traditional work environment? To keep the workflows moving, create a virtual office for employees. Keep them engaged with Recognition.

Are Employee Compensation Statements Worthwhile?

HRsoft

Your employees know how much goes into their account on pay day, but do they really understand all of the ways in which they’re being compensated? Some compelling survey findings from the International Foundation of Employee Benefit Plans ( IFEBP ) reveal that they don’t. Results show that at least half of your employees probably don’t understand their benefit materials, meaning they also don’t understand the full value of employment.

Averbook: Coronavirus is the ‘biggest opportunity in our careers’

HRExecutive

Now, the outside of work and the inside of work have meshed together,” he said about the overnight impact of the health crisis on employers, who have had to quickly start considering issues like virtual onboarding, successful remote-work structures and the employee experience of a distributed workforce. Now is the time to fully capitalize on data, specifically for enhancing the employee experience. Related : 8 benefits employers should zero in on during the COVID-19 pandemic.

Improve Employee Engagement with User-Friendly HCM

Synchr

A helpful way to improve employee engagement on every level is to provide employees with the right self-service tools they need to spend more time focusing on their core job responsibilities, versus running around trying to track down standard information about their benefits and pay, for example. A user-friendly employee portal offers value in several ways: Streamlined Approach.

What These 5 Shocking Employee Benefits Statistics Mean for Your Broker Business

InfinityHR

It’s becoming more apparent that the opportunity share for benefits brokers is rising year-over-year. Brokers can use these shocking employee benefits statistics to put into perspective that the market for voluntary benefits is two things right now: The demand is beginning to snowball due to both employees’ and employers’ developing requirements to combat an unstable healthcare market. 5 Shocking Employee Benefits Statistics.

What These 5 Shocking Employee Benefits Statistics Really Mean for Your Broker Business

InfinityHR

It’s becoming more apparent that the opportunity share for benefits brokers is rising year-over-year. Brokers can use these shocking employee benefits statistics to put into perspective that the market for voluntary benefits is two things right now: The demand is beginning to snowball due to both employees’ and employers’ developing requirements to combat an unstable healthcare market. 5 Shocking Employee Benefits Statistics.

Recruiting Success: Try a Student Loan Benefit Program

HR Bartender

(Editor’s Note: Today’s post is brought to you by EdAssist, one of the pioneers in providing education assistance programs that drive employee growth, retention, and engagement. In his comments, he mentioned a new trend in employee benefits: student loan benefit programs. What are student loan benefit programs? In its most basic form, student loan assistance means that the company agrees to start making payments against an employee’s student debt.

3 Tips to Create a Better Employee Experience (That Drives Engagement)

Digital HR Tech

The magic formula for employee engagement exists and I’m going to share it with you. The key to employee engagement won’t be found in once-per-year surveys. And you’ll be hard-pressed to find it even in a generous employee benefits package. Reams of research all point to one formula: a well-crafted employee experience leads to better employee engagement. The Path to Engagement. Employees look at work and see community.

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. At the same time, you are probably trying to review employee data and payroll records in preparation for year-end reporting, tax filing and setting up the first payroll of 2020. Open enrollment : As discussed earlier, all new benefits enrollments or waivers must be completed within the enrollment period your company establishes.

Employee Rewards and Recognition: 10 Examples of Incentives That Don’t Work

The Incentive Solutions News blog

Employee Rewards and Recognition: 10 Incentives that Don't Work. They help you target specific business objectives and capture key customer data, all while increasing mindshare and loyalty. Motivating since 1994 - Our mission is simple - to inspire growth for our clients and employees. When looking to enhance company culture, boost productivity, increase employee retention , or simply inspire morale, employee rewards and recognition are a great place to start your research.

13 HR Nightmares to Avoid This Halloween

Achievers - Recruiting

A single misstep may cost you the trust of your workforce , which shrinks engagement, shatters productivity, and devastates your bottom-line results. Across the United States, employee engagement levels fluctuate over time depending on a variety of factors.

Attract And Manage Top Talent In Your Small Business

SuccessFactors

For a small business owner, attracting and managing these vital employees can be a source of high anxiety. Stand out with your benefit offerings. However, being small often allows you to have more flexibility within your company, and with a smaller team, you can often offer unique benefits and perks to prospective employees. Implement a bonus structure in addition to annual compensation to attract and incentive your employees. Improve employee engagement.

Forget Happiness. Wellness Emerges as a Compensation Strategy

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger Employee engagement has been a buzzword in the human resource world for a while. When employees are happy and engaged at work they tend to be more productive. Much of this has been focused on employee happiness as an indicator of a solid compensation program – the better employees are paid and the more perks they enjoy; the greater their happiness should be, right? Tess C.

7 employee retention strategies from employee experience visionaries

Qualtrics

If employees are your source of innovation, it’s important to retain them. However, employee turnover is in many industries is high and costly in time, money, and resources. The Society of Human Resources Management (SHRM) suggests that direct replacement costs can reach as high as 50%-60% of an employee’s annual salary, and total costs associated with turnover ranging from 90% to 200% of annual salary. Want to do your own engagement survey?

Designing a Successful Total Rewards Strategy for 2021

Semos Cloud

Find out how to design a successful Total Rewards strategy to take care of your employees’ current and future preferences. Not only do carefull y designed Total Rewards programs help increase employee retention, they also attract new candidates to the company. . Compensation .

The Best Features of a High-Performance Engagement and Retention Strategy

CakeHR

At the same time, businesses of all kinds have started to struggle with employee engagement. The reality, however, is that poor employee engagement is a common problem in every industry, despite the many attempts made to improve it. Employees are likely to leave for another job if they’re not engaged in their current position – and the tight labor market makes it easier than ever for them to do so. Employee health.

Understand How Your Employees Breathe: 5 Most Common Employee Surveys

Semos Cloud

Understand How Your Employees Breathe: 5 Most Common Employee Surveys . Use these employee surveys to find out what your employees think and feel and advance the state of employee experience in your company. Why You Should Use Employee Surveys . Category.

What Is Employee Journey and How to Design an Employee Journey Map

Semos Cloud

What Is Employee Journey and How to Design a n Employee Journey Map. Find out the what, why and how of employee journey mapping to give your employees the best experience working for your company. The Definition of Employee Journey . Better employee experience .

Benefits news you may have missed: Nov. 2-6

HRExecutive

Employees stressed over election uncertainty? Employees were already dealing with a perfect storm of anxiety and stress: COVID-19, social unrest and anxiety leading up to the election have all taken their toll. Realizing there isn’t an answer here one way or another is almost worse,” says Andrew Shatte, chief knowledge officer and co-founder of meQuilibrium, a digital coaching program that aims to build employees’ resilience. And in the benefits realm, that’s no exception.

How to Retain Young Talent in a Job-Hopping Culture

ACI Specialty Benefits

There used to be an unspoken social contract between employers and employees. These changing values are reflected in the job-hopping culture of Generation Z (Gen Z) employees. This kind of turnover comes with a cost: Companies lose time, money, and business with each lost employee. The effects are well known: At a cost to the company of about $4,000 for each new hire, it’s more expensive to recruit, hire, and train new employees than to retain existing talent.

Women in the Workplace vs. COVID-19: A Pandemic’s Impact on Equality

Flimp Communications

The New York Times concluded, from data and analysis cultivated by the Chinese Center for Disease Control and Prevention , that men are more at risk than women when it comes to the current pandemic. For many women in the workplace, this means struggling to fulfill responsibilities or working later to compensate for time missed. Workplaces can implement remote-work policies, specifically for emergencies like this where employees cannot work onsite.

This is How to Create an Effective Employee Handbook

Get Hppy

Making an Employee Handbook that Truly Engages Your Staff. You could be working with the most talented staff the world has to offer, and still have an organization with high turnover, low engagement, and unmet expectations of your company by employees. But, if you learn how to create an effective employee handbook, you can e many of these issues from the very beginning of someone’s employment with your business. Compensation. Employee Benefits.

What does workplace safety really mean?

Qualtrics

Employee safety is more than just harnesses and headgear. Here’s how to create a positive safety culture in your organization using experience data and insights. According to data from OSHA , employers pay an estimated $1billion (US) each week in direct worker compensation alone. When we think about employee safety , the image that comes to mind is often one of rules, protocols, and warning notices. Relationship between union and non-union employees.

Strategic onboarding

HR Times

An effective new-hire experience can contribute to an employee’s productivity and create value for the organization. Hiring failures can cost at least 30 percent of an employee’s salary and can go upwards of 213 percent of the salary for executives. Along the journey, moments that matter can help move employees from initial excitement to long-term engagement, increased proficiency levels, and, potentially, long-term career viability. Helping new hires succeed.

3 Practical Tips to Prepare for Salary Planning

HRsoft

Salary planning typically requires an extensive investment of time and effort for compensation professionals. To make precise pay decisions, you’ll need to put that information into context, filtering data by industry, geography, and increase type. According to an article in Employee Benefit News , companies can benefit from pulling data from a range of sources, such as crowd-sourced pay data from tools like PayScale as well as other outside surveys.

Are Standing Desks Now a Workplace Must?

Namely

Still, I would have considered the ubiquity of standing desks to be a “Seattle” or “tech” thing before reading this StarTribune article that says, according to a June report from SHRM, that standing desks have become the fastest growing employee benefit in the U.S. If you’re not offering standing desks, are you now not meeting baseline employee expectations? The Employee Take Spoiler alert: I don’t know. Benefits Employee Engagement

Everything You Need To Know About Employee Motivation

Vantage Circle

Employee Motivation is crucial to your organisation. Employee Motivation can be defined as the attitude employees have towards their work. The Importance of Employee Motivation. Employee motivation is important to your company. Motivated employees are dedicated, work harder and therefore, produce more. In other words, employee motivation improves the quality of work. An employee who does not feel motivated won’t be able to perform well.

Retain Your Highest Performers with Total Rewards Statement Software

HRsoft

For anyone who’s unfamiliar with total rewards statement software, it’s a communication portal through which employees can access useful data year-round to develop a thorough understanding of their compensation package. Compensation Café suggests that taking measures to boost total rewards communication can lead to better performance.

Surprise: Big Perks Don’t Always Equal Happier Female Employees

SAP Innovation

This past summer, a former employee called out Amazon for its inhospitable policies toward women and parents. In September, a female employee sued Microsoft for gender discrimination. At the same time, several companies (mainly in the technology sector) have upped their game in the race to acquire top—and specifically, female—talent, engaging in fierce competition. Companies may be reacting to a real and growing dissatisfaction among their female employees.

How To Use Voluntary Benefits for Recruitment And Retention

PlanSource

More than just ‘nice to have’, voluntary benefits are an important element in any well-rounded compensation package. Their flexibility, affordability and personalization make them attractive to employees, and voluntary benefits can also offer several perks for employers as well. According to SHRM, almost 35% of organizations increased their benefit offerings in 2018. Is your organization competitive with the amount and quality of benefits offered?

From jobs to superjobs: HR M&A edition

Bersin

One of the most labor-intensive activities in an M&A tends to be the mapping and leveling of acquired employees onto the buyer’s compensation hierarchy, then going through the organization design process to integrate the two organizations. Manual data entry errors and version control issues can increase the stress level of professionals responsible for guiding the organization through a sensitive activity. Employee onboarding.

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Multimedia Communications a Must-Have to Remain Relevant with Today’s Workforce

GuideSpark

Innovate how you engage your employees with new technology, social media, & video. Updating your workforce communications to accommodate multimedia—social, mobile, video—is one of the best things you can do to keep your messages relevant and in sync with what your employees are doing outside of the office. Let’s say an employee has saved up some money and wants to make a contribution to their new HSA. Employee Communications Employee Engagement The GuideSpark Blo

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