Category: Compensation Administration

This topic provides guidance on how to best apply an agreed upon compensation strategy. There are a lot of tasks involved, from tracking existing compensation packages, to setting up compensation frequencies.

What the New Overtime Threshold of $35,000 Means for Your Business

The U.S. Department of Labor (DOL) has released its highly anticipated proposal to change the minimum salary threshold for overtime eligibility. Placing the new threshold at $35,000 per year (or $679 per week), the proposed regulations would make over a million more workers eligible for overtime pay.

Seven Pay Equity Questions Every HR Professional Should Ask

In part 1 of this article we explored problems with pay equity and discussed an approach for getting pay equity right. Today we’ll provide you with 7 questions that every HR professional should ask about pay equity.

Getting Pay Equity Right

Fairness is a major factor that tends to color how employees view the workplace. If a happy, engaged employee learns that another employee doing the same job is getting 15% more than he or she is getting, all the other things that made the job seem great turn to ash.

Pros and Cons of Total Compensation Statements

A total compensation statement is something many employers opt to provide to employees to quantify and communicate the monetary value of their full compensation package. Also known as a total rewards statement or a “hidden paycheck,” a total compensation statement would include base pay plus bonuses/incentives, and also could include the quantified value of benefits […]

Why Career Growth Deserves a Promotion

So much has been volatile for the American worker since the Great Recession—but one constant has been the size of annual merit increases. For many years, merit increase budgets have continued to hover just under 3%, despite an improving economy, low unemployment, tax reform savings, and fierce competition for talent. Employers face competing cost pressures: […]

IRS

Missing Participants Errors Now Top DOL, IRS Audit Focus, Nudging Out Late Payroll Deposits, Winston & Strawn Says

Federal agency audits are never far from the minds of employer retirement plan sponsors and their third-party administrators (TPAs), but knowing which recurring errors and internal controls most interest the Department of Labor (DOL) and the Internal Revenue Service (IRS) right now can be helpful in avoiding or preparing for such inquiries.

How to Fix Unequal Pay

Employers know that they have a legal obligation to have fair pay practices. The pay offered should not be discriminatory and should strive to equally pay employees who do the same work. There will always be allowances for differences in performance and other permissible factors, but pay differences should never be based on discriminatory reasons—not […]