Practical HR Tips, News & Advice. Updated Daily.
There are many reasons to conduct a compensation audit, and the benefits in employee productivity and retention can ripple through the organization. In a BLR webinar titled “Compensation: How to Effectively Manage Base Compensation with Pay Grades,” Dan Kleinman outlined some of the answers you’ll get by conducting a compensation audit. Are you ready to […]
Is pay-for-performance the right compensation philosophy for your company? For some companies, emphatically yes, says expert Brooke Green; however, there are three key question to answer before considering it. Green, who is a principal at consultant Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. What Pay-for-Performance Is (And Isn’t) First, says […]
When you experience a weather closing, how do you handle pay for your employees? Must you pay everyone? What are the differences between non-exempt and exempt employee pay?
Green, who is a principal at Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. In yesterday’s Advisor, she suggested that compensation managers ask three key questions before launching a pay-for-performance program. [Go here for Question 1] Question 2. Is Management Willing to Differentiate? At the heart of pay-for-performance is paying higher […]
West, principal of Employment Practices Specialists in Pacifica, CA, offered her tips at SHRM’s Employment Law and Legislative Conference, held recently in Washington, DC. Defamation In the HR world, defamation often rears itself in relation to references. What exactly is defamation? West says that it has the following characteristics: False statement of fact (opinions are […]
Tax Consequences of Bonuses Bonuses paid in consideration for services rendered are almost always taxable wages subject to income tax withholding, FICA, and FUTA. These include production, incentive, and nondeferred profit sharing bonuses. The Internal Revenue Service has also ruled that bonuses paid to employees for signing or ratifying an employment contract are considered wages […]
Green, who is a principal at consultant Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. What Pay-for-Performance Is (And Isn’t) First, says Green, it’s important to clarify what is pay for performance and what isn’t. Pay for performance, she says is: Any type of compensation or reward that is provided only […]
Bonuses are an integral part of many companies’ compensation packages because they: Are an expression of goodwill from employer to employee. Exemplify a personal touch and may evoke loyalty and dedication. Allow organizations to manage pay for performance Can be used as an incentive to retain top performers or to attract new employees Allow the […]