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4 compensation strategies to respond to rising minimum wages

HRExecutive

That’s the sound of 27 states implementing minimum wage increases in 2024 or in the near term via annual indexed increases or tiered jumps. per hour for non-exempt workers. . per hour for non-exempt workers. The minimum wage in the remaining states ranges from $8.75 according to a Paycom report.

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7 Ways to Create an Effective Seasonal Hiring Strategy for Your Small Business

Homebase

Before hiring, you must understand the essentials of seasonal employment and relevant employment laws and establish an effective management strategy for your temporary staff. In this guide, we’ll share actionable strategies and practical insights to make your seasonal hiring process manageable and successful.

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Compensation Analysis: The Definitive 2022 Guide

Decusoft

Conducting compensation analysis is a lengthy, necessary project. This work is an important part of the staffing strategy and helps executive management determine whether the pay and benefits they offer are comparable with other similar businesses. . What Is a Compensation Analysis?

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

HR Lineup

Direct Costs of Employment Direct costs are the most obvious expenses related to employing staff, encompassing elements directly tied to compensation. These include: Base Salary: The primary component of an employee’s compensation, typically determined by factors such as job role, experience, and market rates.

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Top 2023 Trends in Compensation Strategy 

EmployeeConnect

On the one hand, there is high inflation which is making every company implement a compensation strategy for the employees. So, employers will have to tread the path of work compensation carefully. This article will discuss the top trends in the compensation strategy in 2023 and help you understand its mechanics in detail.

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The Ripple Effect of a Pay Strategy Change

Compensation Today

One particularly special session for us was “The Ripple Effect of a Pay Strategy Change,” in which PayScale CPO Dave Smith presented with Justin Gagnon, CEO of our customer, Choicelunch. Learn More About Our Compensation Software. Learn More About Our Compensation Software. It was time for a bold move. GET A DEMO.

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How You can Solve the Nursing Shortage

Precheck

How You can Solve the Nursing Shortage Jul. 25, 2023 Jenni Gray Copywriter The United States is facing a severe nurse shortage. This crisis has left hospitals struggling to find enough nurses to meet the demands of their patients. The issue is complex, and the solution is not straightforward. Table of Contents: When did the nursing shortage begin?