Employee Benefits & Compensation Articles
Retaining and attracting the best employees means offering more than competitive salaries. Thoughtful and useful benefits packages set up employees and your business for success. Just make sure you build communications systems that make it easy for your employees to sign up.
The summer holidays are nearly upon us. This is the time for vacations, outdoor bar-be-ques, traveling, sun, and fun. Today, corporate culture is forgiving of summer vacations, usually around July 4th and mid-August. The time is now to gear your employees up between their vacation times.
Open enrollment (OE) meetings are intended to educate employees about their benefits in an effective and efficient setting. Perhaps meetings were once the best approach. But times change, and today employers typically offer many more benefit choices, with more complex variables, and the potential for far greater employee financial liability.
Once upon a time, the employee benefits package was (more or less) standardized. Employees were given a base salary, typically two weeks of vacation, health insurance, and a retirement plan… maybe a year end bonus (if you were lucky)… but times have changed.
There's one nerve-wracking, yet vital part of the on-boarding process recent grads need to master: negotiating salary and benefits. 43 percent of workers are still asked about salary history during job interviews. Future employers may base their proposed pay on a candidate's previous salary level.
At the top of many employee benefits and compensation plans is usually a retirement plan. The most common retirement plan these days is still the good old 401(k). Why is it so popular and how does it work?
Diversity Insight: Not only must you be vigilant in preventing workplace sexual harassment in the age of #MeToo, but you also may face an uphill battle in defending against gender-based pay discrimination claims under the Equal Pay Act (EPA), according to a new decision from the U.S. 4th Circuit Court of Appeals—which covers Maryland, North Carolina, South Carolina, Virginia, and West Virginia.
In a game-changing ruling, California expanded protections for workers, placing the burden on employers to prove that workers are independent contractors, not employees.
Decision Support Software simplifies the complicated world of employee benefits so that everyone gets the right benefits for their personal situation. It’s never a bad idea to investigate Decision Support programs as a part of your employee benefits and compensation system, but sometimes the programs designed to help make decisions just make them more difficult.
Millennial engagement and career fulfillment begins with the employer and ends with the employee. If a position does not offer an employee the favorable factor (s) of work and life balance, most millennials tend to look elsewhere.
Rising healthcare costs continue to plague employers and employees alike, so it should come as no surprise that participation in high deductible health plans (HDHP) grew by more than 60% last year.
The psychological contract is a concept that describes the understandings, beliefs, and commitments that exist between an employee and an employer. Although it is unwritten and intangible, it represents the mutual expectations that are felt between the two.
Financial wellness has long been a hot topic for employees and employers even before millennials started taking jobs while saddled with huge student debt amounts. With tax season mostly over, there’s no better time to discuss how you can help employees be more secure with their finances.
If someone tells you that employee benefits communication doesn’t matter when hiring and retaining skilled employees, they’re lying.
High-deductible health plans (HDHPs) can save your company a lot of money… but only if your employees enroll in them over other plans you offer. Educating employees about HDHPs and how they work is the best way to increase enrollment in these cost-saving plans, but what does that entail?