Practical HR Tips, News & Advice. Updated Daily.
Retirement plans always have been an excellent vehicle for creating current tax deductions for businesses. For a business that passes through income to its owners, the business’s retirement plan often is designed to reduce each owner’s personal taxable income by a share of the retirement plan’s contributions.
While money may not buy you happiness, it may be able to “buy” you employees. If your compensation practices are falling short, you may be losing top talent to the competition, and a new study shows that there is a “radical shift” in how companies are planning their annual compensation packages.
In a recent Private Letter Ruling (PLR), the Internal Revenue Service (IRS) authorized making 401(k) plan contributions to participants who repay their student loans instead of contributing to the plan. (See related August story.)
It’s no surprise that research has found employees tend to delay or disengage from decisions they view as difficult and complex. In the 1980s, the struggle among employees was 401(k) adoption, even though it was the most practical retirement financial tool in the market. These days, the challenge is centered on consumer directed health plans […]
Employees leave companies for a variety of reasons: dissatisfaction with the work; personality clashes with managers or coworkers; long commutes; poor work/life balance; etc. But according to a new Office Team survey, compensation is still one of the primary reasons employees switch jobs. And, in a tight labor market that favors employees, their ability to do […]
Attracting and keeping talented employees is incredibly important and often very difficult. In a post-industrial society, businesses run more and more on people and less and less on nonhuman capital like factories, vehicles, and machinery. At the same time, with historically low unemployment rates, employees have added flexibility to be picky when it comes to […]
The Internal Revenue Service (IRS) has extended for an additional year the temporary nondiscrimination relief it offers closed defined benefit (DB) retirement plans.
There may be more jobs available today than there are applicants to fill them. This is a frustrating scenario for employers. Organizations trying to grow, or even simply keep up with current demand, are finding it more and more difficult to keep employees, and they’re finding it’s more and more difficult to find new employees […]
In a highly competitive hiring landscape, employers are looking for ways to differentiate themselves to prospective employees. One option is to provide a more attractive or unique benefits package by including new and interesting benefit options.
According to Pew Research, 77% of workers report using social media while they’re at work regardless of whether their employers have a social media policy in place.