Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
Simply put, a pay approach is the method an organization uses to deliver base pay to its employees. For example: job-based pay, market-based pay, knowledge/skill-based pay, and experience-based pay are all methods of pay delivery. Which one is the right one? Any of them can be a viable method, depending on the organization’s needs and […]
Many qualified profit-sharing and 401(k) retirement plans allow participants to take loans from their account balance. To ensure that the loan is repaid and to avoid administrative headaches, many plans require repayments be made by payroll deduction.
The financial well-being of U.S. employees reversed direction this year following several years of steady improvement, according to a new survey by Willis Towers Watson, a global advisory, broking, and solutions company. The biennial survey also revealed a large increase in the number of employees who say their financial woes are negatively affecting their lives […]
With open enrollment well underway for most organizations and the end of calendar year fast approaching, it’s time for HR departments to focus on Affordable Care Act (ACA) reporting for plan year 2017. Though HR teams have a few years of experience navigating the ACA reporting requirements under their belts, confusion and stress levels continue […]
Support for single-payer health insurance is growing, slowly but surely, yet many employers are taking little heed of the debate. Amy Evans, an employee benefit insurance expert, and attorney Christine Roberts contend on the Employee Benefits News website, though, that employers can’t afford to ignore it anymore. They enumerate several reasons you need to stay […]
Nearly all of us have at least heard of Employee Stock Ownership Plans—also known as ESOPs—but far fewer are sure exactly how they work and why organizations would want to offer them.
Millennials employees are no longer a novel concept. As Scott T. Rollin notes in the Minneapolis Star Tribune, they’ve begun to move into middle management and other key employee roles. Coupled with employers’ worries about hiring and retaining qualified workers, the result is a mounting concern about how to compensate key Millennials.
To ease employees’ concerns about access to their elective deferrals in the event of a financial emergency, an employer may provide for hardship withdrawals in its plan. This can provide some peace of mind during difficult times.
The Pension Benefit Guaranty Corporation (PBGC) Fiscal Year 2017 Annual Report, released on November 16, shows that the deficit in its insurance program for multiemployer plans rose to $65.1 billion at the end of FY 2017, up from $58.8 billion a year earlier.
We’re right in the middle of open enrollment season, which can be a confusing and stressful time for your employees as they make their selections for the coming year. Arm them with the right knowledge and tools for a successful open enrollment period and they’ll thank you for it— after all, healthy employees are happy […]