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Could an Early Retirement Package Incentivize Employees to Retire?

Zenefits

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. If they don’t, it may be time to develop an Early Retirement Incentive Program. Are they retirement ready? An ERIP can be beneficial in more ways than financial.

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Is Your Compensation Fair? How to Create a Compensation Plan That Works for Everyone

Zenefits

The Society for Human Resource Management discovered that compensation and pay is the second-most contributor to job satisfaction. This means that company compensation packages, benefits and all, matter more than ever. Employees are increasingly looking for fair compensation. What is fair compensation?

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How to Evaluate Your Compensation Plan

Zenefits

Whether you are recruiting new employees or focusing on employee retention , a solid compensation plan is key to finding and keeping top-quality employees. That means a regular review of your compensation package should be a top priority. Is it time to evaluate your company’s compensation package? Total compensation.

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What is 401k Discrimination Testing?

Zenefits

Every year, the Employee Retirement Income Security Act ( ERISA ) requires employers to undergo 401k discrimination testing to ensure plans are not discriminating against lower-income employees. What is a 401k discrimination testing? What is considered a highly compensated employee? What is the ACP test?

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What’s the Definition of a Highly Compensated Employee?

Zenefits

There are several differences between highly compensated employees (HCEs) and non-highly compensated employees (NHCEs). It’s important for HR professionals to understand the definition of a highly compensated employee for tax reasons, benefits, and legal purposes. How much can highly compensated employees contribute to a 401(k)?

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Attracting Top Talent in Today’s Evolving Workforce

Zenefits

Ankur Patel , Director of Product Marketing at Zenefits, identifies 4 critical trends and the forces behind them for small and medium-sized businesses. . They opt for early retirement or go freelance, taking advantage of emerging gig opportunities. Today, employees seek a total compensation package, not just a salary.

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Businesses Rely More Heavily on Contingent Workers, but at What Cost?

Zenefits

Typically employers don’t offer other contingent staff benefits, like retirement plan contributions, education benefits, sick, vacation and personal time off. Their letter demanded inclusion, better communication and compensation. appeared first on Zenefits Blog.