How To Calculate Total Employee Compensation

Helpside

New hires cost a lot to train and onboard, so you want to do everything in your power to make sure they stay once you get them. One way to boost employee retention is to make sure employees understand their total compensation. Here’s how: What is Total Employee Compensation?

Compensation Package: A Guide For HR

Digital HR Tech

Across most industries, the competition for talent is tough. As an HR professional, you must be strategic in order to attract the right talent and retain employees. Offering an appealing and generous compensation package is an important part of your employee value proposition.

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Compensation Surveys: Are They Necessary?

Astron Solutions

Finding the fairest and most motivating compensation for your team members is one of the most important jobs for HR leaders like you. A popular method of evaluating a fair employee compensation strategy is to refer to a valid compensation (or salary) survey.

Big Changes Coming to Compensation

Decusoft

The COVID-19 pandemic and the wild year that was 2020 shook up the world of employment and compensation to a startling degree. Since the virus appeared during the first quarter, unemployment spiked to record levels before dropping again into something like a normal range.

The Wage and Hour Pitfalls of Smartphones

HR Daily Advisor

Are your nonexempt employees sneaking a peek at work-related e-mail while off the clock? Watch out: There could be tricky wage and hour dangers ahead. Ever suspect your employees’ bosses may be pressuring them to respond to calls and e-mails after the workday ends? Have loyal employees trying to help out after hours and off the clock? Department of Labor investigators don’t stop with the complaining employee. Learn More.

A First from the Labor Commissioner: General Contractor Fined for Subcontractor’s Wage Theft

HRWatchdog

The Labor Commissioner fined a general contractor nearly $250,000 for wage-and-hour violations committed by its subcontractor, and a hearing officer recently upheld those fines. Contractor held liable for drywall subcontractor’s wage theft. This is the first time that the Labor Commissioner has held a general contractor responsible for wage theft by its subcontractor by issuing citations under AB 1897 (section 2810.3

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? . Learn More. Workers Compensation Exemptions State by State.

Industry Insights Seasonal Hiring

Payactiv

Industry Insights: Seasonal Hiring. Welcome to our brand new resource page for Retail Seasonal Hiring! We built this page with you in mind – use it as a learning tool, reference page, and more! The Retail Facts. Watch the recap. HIRING TIP.

September Jobs Report: Shifting Your Hotel’s Hiring Tactics

Hireology

74,000 of those jobs came from leisure and hospitality — by far the most out of any industry, and this growth represents about 38% of all of the jobs added in September overall. On top of this, we’re seeing a shift in the desires of the modern workforce.

7 Things to Look for in a Compensation Package

Visier - Talent Acquisition

Today’s job seekers are spoiled for choice in a job market that’s been bleeding employees for the past year. Quite the hot commodity, workers can afford to be a little picky and a little particular about what kind of compensation they’d like in exchange for their labor.

4 Spooky Tales of Wage & Hour Violations That Will Send Chills Down Your Spine

FingerCheck

With Halloween approaching, the air is getting colder and the season is perfectly right for some spooky stories. What could be scarier than hearing the plight of your fellow business owners, and realizing that their misfortune could easily be yours? When employers violate the Fair Labor Standards Act (knowingly or not), the consequences are potentially dire. Last year I navigated the successful acquisition of that company to a national organization.

Bed, Bath & Beyond Learns Wage and Hour Compliance Is No Bed of Roses

HR Daily Advisor

Exempt vs. nonexempt is a question that continues to trip up even the most sophisticated employers. Recently, Bed, Bath & Beyond was sued in Illinois federal court by assistant store managers who claim the company incorrectly classified them as exempt and improperly denied them overtime pay. With overtime claims on the rise, employers can’t afford to hide under the covers when it comes to understanding the rules of employee classification.

Types of Compensation: Everything HR Professionals Need to Know

Analytics in HR

If organizations want to reward their employees fairly, they need to understand different types of compensation and how to create attractive compensation packages for their employees. Let’s dive into different types of compensation employers can offer. What is compensation?

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? Why are compensation and benefits important?

Oh Joy! Guest Worker Case Answers Tricky Wage and Hour Questions

HR Daily Advisor

A recent decision from a California Court of Appeal addressed the issue of whether a worker without a work permit was entitled to minimum wage and overtime protections under federal and state law. Further, the court examined the novel issue of whether lodging and meals provided to an employee may be used to satisfy the minimum salary requirement for exempt employees. Kao managed the company’s website, fielded sales calls, and distributed travel brochures.

What They Aren’t Telling You About the Gender Wage Gap

Workology

First let me start off by saying I believe the wage gap is real. The wage gap is an issue according to what I know about being a woman and according to research, which tells us that women are making on average $.78 However, I have personally encountered wage disparity early on in my own career, and I believe it was because I was a woman. Why Wage Disparity Exists. The company has no salary or compensation plan guidelines.

The pros and cons of hiring independent contractors

Business Management Daily

Not only do you want to find the right candidate to complete the job, but you want to ensure that you hire them under the best category to fit your business needs. You won’t serve the role of their boss – even if you hire them for ongoing work for your company.

Just-in-Time Scheduling—Good News and Bad News

HR Daily Advisor

And the same goes for the related challenges of show-up pay and on-call pay. Just-in-time or call-in scheduling (or “call-in shifts”) usually involves the establishment of a tentative work schedule; the employee then learns via e-mail, text, or telephone call when or whether to physically report to work. It is most commonly used in the retail, food service, restaurant, and hospitality industries. Paid time off (PTO)/sick.

Living Wage vs. Pay for Performance

Compensation Cafe

At the bottom are the base, must-be-fulfilled-first needs of food, shelter, and safety. Then at the top are the higher order needs of belonging, esteem, and self-actualization. However, without the sense of security of knowing where your next meal is coming from and where you’ll lay your head at night, it’s much harder to achieve the higher-order needs. an hour), forcing rivals to improve minimum wage offerings, too.

Both Sides Of The Coin: The Merits & Drawbacks Of Hourly Wages

Mitrefinch

Wages and salaries constitute the core element of income for the majority of working population. A wage is a monetary compensation an employer pays to an employee in exchange for a job done. The payment may be calculated as a fixed amount for each task completed or at an hourly or daily rate or based on an easily measured quantity of the job the employee has done. Merits of Hourly Wages. Disadvantages of Hourly Wages.

How to Create an Equitable Compensation Program

Trainual

In America, we have had the unfortunate history of excluding people of color, women, and other minorities from many wealth-generating activities. This includes equitable compensation. . Today, in 2020, we still have a racial (and gender) wage gap. Flexible hours .

What Does the FLSA Mean by “Hours Worked”?

Zenefits

Your business is likely subject to the Fair Labor Standards Act (FLSA) , which requires covered employers to pay employees for all hours worked. But what exactly are “hours worked?” While this may seem self-explanatory, “hours worked” has numerous layers influencing compliance.

Amazon fuels minimum wage standard demands in US

HR Digest

The pandemic is slowly fading in some parts of the world with the vaccine rollout and companies again opening up for business. The reason being higher unemployment benefits, paucity of childcare options, and no immigrant labor to fill the gap.

10 Tips for Hiring Minors This Summer

HR Daily Advisor

It’s that time again, when employers are considering hiring minors for the summer—in camps, restaurants, resorts, swimming pools, and anywhere else business picks up in the warm weather months. There are strict laws pertaining to hiring minors. States also have child labor laws and when state and federal laws differ, the stricter law applies. Springtime every year, employers begin thinking about hiring summer interns. But, the U.S.

Minimum Wage, Maximum Pressure: The Journey Toward $15/Hour

Ascentis

On April 27, 2021, President Biden signed a new Executive Order, “ Increasing the Minimum Wage for Federal Contractors.” The timing of this new E.O. No one … working 40 hours a week should live below the poverty line.”. per hour. ?

Would You Consider Restricting Hours Worked?

HR Daily Advisor

Employers know that there are legal restrictions in terms of the number of hours a nonexempt employee can work before incurring overtime pay. There are also restrictions on the hours a minor can work. And for safety reasons, there are restrictions on the number of consecutive hours medical residents and truck drivers can work. Are there restrictions for general work hours? Benefits to Restricting Work Hours.

What to Know about Short-Time Compensation Programs

Homebase

The provisions are meant to increase participation in the programs, which are run at the state level and act as an alternative to layoffs for struggling businesses. . What is a short-time compensation program? What are the pros of STC programs? However, the U.S.

The $22 Billion Cost of Wage Theft

Tsheets

Wage theft happens more than you think — could automated timesheets be the solution for fair compensation? The employee-employer relationship is founded on a delicate balance of mutual trust. The employer trusts the employee to work when they’re supposed to work, and the employee trusts the employer to pay them fairly for the work they do. In the case of workplace misconduct, the door swings both ways.

Will recent pay increases for minimum wage workers affect those in higher earning brackets?

Compensation Today

Co-written by Mykkah Herner, PayScale Comp Specialist and Tess C.Taylor, Founder of HR Knows Around the nation, large corporations are taking the minimum wage issue to heart by instituting salary increases for their most underpaid workers. Companies like McDonald’s, Wal-Mart, Target, and TJX, the parent company of TJ Maxx and Marshalls, have announced plans to raise wages by as much as $1 or more per hour, with more raises coming for the beginning of 2016.

Salaries 101: Creating Your Company’s Compensation Plan

Zenefits

The business of employment is ever-changing. The labor market is constantly shifting, workplace laws are always evolving, and business needs are always in a state of flux. Still, some things have remained constant, such as the value of compensation. Direct compensation.

A guide to legally hiring minors

Homebase

Hiring minors —or individuals under 18 years of age—is a common practice among small business owners, especially during the summer months when high school students who are at least 14 years old (the federal minimum employment age) are out of class and looking to work while they are on break. .

What’s Keeping HR Up at Night in 2020?

HRExecutive

The number of job openings in the U.S. million in January 2020, according to the Bureau of Labor Statistics. Is this an early sign that the talent shortage is dwindling? Although the talent shortage began dominating the labor market more than a decade ago, the No.

McDonald’s Victory on Suit over Wage Violation at Franchises

HRWatchdog

The court ruled that California’s wage and hour laws only apply to employers who actually control wages and workplace conditions, not ostensibly. A federal court in California recently ruled in favor of McDonald’s finding that it does not control the wages paid to employees at its franchises and was not responsible for any alleged wage and hour violations. This decision is a victory for the franchisor/franchisee business model.

10 Ways HR Technology Helps Manage Labor Cost More Effectively

Netchex HR Blog

In many industries, labor cost is one of the biggest expenses for a business. According to the Bureau of Labor Statistics, wages and salary costs make up about 70% of employer costs for employee compensation. The remaining 30%of costs go toward benefits.

How much does it cost to hire an employee?

Homebase

Hiring a new employee is an exciting next step for your growing business—but if you’re recruiting new team members for the first time, the actual cost can be surprising. Need help with hiring? Required costs of hiring a new employee . Wages and benefits.

Leading Hourly Workforce Transformation in a Post-Pandemic World

Ascentis

In February 2020, global labor markets experienced a dramatic shock due to the novel coronavirus, with millions of workers either losing their job or shifting to remote work. However, returning to the workplace is going to look much different in the post-pandemic world. Learning.

Tired of Employee Turnover? Increase Retention with this Easy to Implement Cost-Free Solution

Payactiv

The numbers continue to inflate, the need to differentiate yourself from competitors is more important every year, and the cost associated with turnover can debilitate or even cripple a company. Company morale often takes a hit and a lack of engagement can burden the office.

Should You Hire a New Employee or an Independent Contractor for Short Term Projects? 

Hppy

You require the services of a contractor, especially when starting a small business. However, businesses grow fast, and when you start thinking of hiring to help out with the company. A business owner hires a paid employee to execute a specific task within the firm.

Hiring 123

Raising Minimum Wage: What’s the Big Deal?

Employment Metrix

In just two weeks, the pay bump that Amazon promised its 250,000 employees and 100,000 seasonal workers will go into effect in the U.S. Earlier this month, Amazon announced that it will be raising its minimum wage to $15 per hour, regardless of employees’ full-time, part-time or seasonal status – just in time for the holiday season. Workers deserve to be compensated with a livable wage, but when pay dramatically increases, something else usually has got to give.

PayScale Tools for Today's Comp Pro! Compensation Glossary: Part 1 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Even the most seasoned HR professional might take a big gulp if approached by their CEO to take charge of anything comp. That’s because, despite being part of the HR department, compensation is like the cool kid at a party. You know, the one you’re afraid to talk to. Sure, you’ve heard some terms before, but you have no idea what they mean so you try to avoid the conversation altogether.