Update Your Salary Practices to Recruit Top Talent
Employee compensation administration is changing, and the demand for talent is exploding. In response, companies may be dusting off old salary administration practices. Why the change?
Category: Benefits and Compensation
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.
IRS Endorses Forfeitures for QNEC, QMAC Contributions in Final Regulations
The Internal Revenue Service (IRS) and U.S. Treasury Department on July 20 issued final regulations amending the definitions of qualified nonelective contribution (QNEC) and qualified matching contribution (QMAC) for employer-sponsored retirement plans to resolve questions about whether participant forfeitures can be used to fund QNECs and QMACs.
Executives Think the War for Talent Will Rage On, Says Survey
New research shows that most executives believe that competition for talent will ramp up throughout the remainder of 2018.
Do Counteroffers Really Work? New Survey Findings May Leave You Surprised!
Talent retention may not necessarily be an issue that recruiters face on a regular basis, but in order to retain talent, you also need to know what attracts talent. And when it comes to salary negotiations, hiring managers and HR professionals may be going about it all wrong.
Help Employees Find the Best Strategy for Their HSAs
Financial wellness is becoming an increasingly important component of employee benefits packages and a common topic of conversation for human resources professionals nationwide. And with good reason! Nearly three-quarters (72%) of Americans report being stressed about finances and that anxiety can negatively affect their overall health. As a result, employers are expanding financial wellness programs […]
‘Hibernation’ Approach Recommended by Mercer to Wait Out High Demand for DB Plan Derisking Transfers
Following a flood of investment derisking activity after the 2008 global financial crisis (see related October 2017 story), defined benefit (DB) plan sponsors now face the fallout from years of rising demand for insurer buyouts of pension benefit obligations (PBOs).
Affected Parties Suggest Reasons, Methods for Expanding IRS Determination Letter Program
Retirement plan trade organizations and advocates, law firms, and other affected parties proposed to the Internal Revenue Service (IRS) an expanded range of circumstances they believe merit review and determination letter judgment by the tax agency.
Compensation Is Key for Attracting and Retaining Top Talent
According to the Bureau of Labor Statistics’ (BLS) June 2018 Employment Situation, the unemployment rate has risen 0.2% for the month of June, making the new rate 4.0%. Unfortunately, it looks like our record low unemployment numbers may become a thing of the past, which is good news for employers looking to attract workers!
Still No Equal Pay for Equal Work Says CareerBuilder Survey
A recent survey by CareerBuilder shows that nearly a third of women do not believe that they are making as much as their male counterparts, even though they have similar experience and qualifications. The same study shows that 12% of men feel that way.
Small Towns Offer Perks to Recruit Young Workers
HR professionals around the country are feeling the pinch of a tight labor market. While a roughly 4.0% unemployment rate is great news for jobseekers, it poses a real challenge for recruiters.