Compensation Practices Should Not Be an Oral Tradition
We spoke with Dan Walter, CEO of compensation consulting firm Performensation, who urges compensation pros to avoid the path of “Beowulf.”
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.
Defining Pay Principles: Comp Philosophy, Comp Strategy
By Sharon McKnight, CCP SPHR I firmly believe that every company should have a written compensation philosophy that guides the design of its pay structure. For example, whether it will pay employees below, even with, or above the market.
Investment Adviser Penalized $15M for Failing to Diversify
A novel approach to determining damages owed by an investment adviser to two defined contribution retirement plans in an ERISA fiduciary-duty breach was part of a decision including a $15 million reimbursement request handed down recently by a New York federal judge. Plan sponsors should note that the defendant, WPN Corp., was ordered by the […]
Ask the Expert: I Need Help with the Rules for FSA and HSA Eligibility!
Can an employee open up a Health Savings Account (HSA) if their spouse has a general purpose Flexible Spending Account (FSA)? If not, can they open up the HSA account once their spouse’s FSA is exhausted and closed? And once they do this, how does the employer who is contributing to the HSA abide by […]
Data Transparency at the Heart of Cost Control
Most people would probably choose custom over off-the-shelf if they had the chance—even when the product is health insurance. At least, that’s how Michael Jordan, who is president of labor and strategic accounts at MagnaCare, a healthcare services company specializing in self-insured plans and network solutions, sees it.
Lifestyle, Family-Care Benefits Impact Employee Performance
Results of a new survey show a “direct correlation between family-care benefits and workplace performance, as well as employee recruitment and retention,” says Donna Levin, cofounder and vice president of Care.com Global Workplace Solutions, the survey sponsor.
7 Strategies for Improving Engagement during Open Enrollment
With many employers making changes to their health insurance plans, including accelerated adoption of high-deductible health plans, it’s more critical than ever for companies to strengthen their efforts to engage employees during their open enrollment periods, according to Chris Hill, CEO of Spotlite.
ACA Tax Reporting Requirements for Large Employers: The Time to Prepare Is Now
By Jennifer Carsen, JD Few would claim their favorite season is “tax season,” and this year large employers have yet another reason to dread it: Mandatory filing requirements dictated by the Affordable Care Act (ACA) kick in for 2015. If you are an Applicable Large Employer (ALE), it’s important to note that you are responsible […]
Step It Up with Step Rate Pay Scales
Sharon McKnight, CCP SPHR In a previous position as an HR director, I was tasked with developing a sustainable pay system for a large hourly workforce within a production-oriented environment—lots off manual labor at multiple positions, many requiring similar experience and skill sets.
Paying Millennials as They Age: 5 Suggestions for Effective Compensation
Millennials have aged and many have now gained enough experience to be in leadership positions. Therefore, understanding what motivates them—and how to pay them in comparison to other generations—becomes even more important.