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.
by Richard Berger, Cammack LaRhette Consulting It seems as if everybody is freezing their pension plans. If your defined benefit (DB) plan is desirable, how can you make it manageable for the long haul and avoid a freeze? What Has Driven Employers to Freeze? Employers have been freezing their pension plans for two main reasons, […]
You’re asked by your company’s board of directors to reexamine your executive compensation. How, they want to know, does the company’s executive pay stack up when compared against other organizations? The first thing to do is to decide which companies should make up your peer group. Should you compare to the companies against whom you […]
You know the drill: spend some extra time and effort to bring down costs for the tiny percentage of participants who spend most of the health claims dollars, and you’ll reduce your insurance expenses. The problem, says Michael McKenna, president of Partners Benefit Group (www.partnersbenefitgroup.com), is that small or mid-sized fully-insured companies may not be […]
I am thrilled to announce the launch of the SmartHRManager blog, powered by Thompson Publishing Group. Welcome. We hope this blog can do a lot for you. We want to be the place HR and benefits professionals turn to for ideas, analysis and instructions. We have a dynamic publishing company behind us to delve into the questions […]
In recent years a growing number of companies have invested a lot of time and effort creating a performance-based compensation system. If yours falls into that category, then sales personnel and managers likely feel a strong link between the company’s overall perfor-mance, their departmental performance, their own individual performance, and their paychecks. Good job! But […]
The notices seem to come in waves. Yes, they’re designed to protect participants in your employee benefit plans, and you likely appreciate that worthy aspiration. But with each subsequent notice, you may feel a slight tightening in the benefits budget. Each additional analysis, restriction, or requirement seems to cost more money. And times being what […]
According to the latest Trends in Employee Recognition report released by WorldatWork, 75% of the 600+ professionals surveyed believe that their recognition programs are successful, but only 45% have a written strategy for their recognition programs. Only 14% say that their organizations trains managers on recognition practices. This, says Strategic Consultant and blogger Derek Irvine, […]
For Root Learning, 2008 was one of its best years on record. The Sylvania, Ohio-based company was able to pay off its debt and award debt-retirement bonuses to its approximately 100 employees. However, the celebration was short-lived. With the downturn in the economy, sales dropped 30 percent during the first quarter of 2009, leaving company […]
If you’re not careful, you may get a little depressed when you think about keeping your company viable. You may feel like there aren’t many alternatives left. At this point, you’ve probably already cut expenditures everywhere you can find room—from office supplies, advertising, and incentive awards to insurance premiums. What’s left when everything has been […]
Part 1: The Problem with Paper When our saga begins, the paper is new. It is made into a three-part form: one pink, one canary, and one the palest of blues. No one really knows why it has three parts, but everyone who sees it appreciates its delicate hues. After a few months in a […]