Tech Taking Over? HRIS Trends
Most every company is looking at the HRIS. What should your system be doing? For some guidance on this trend, we turned to BLR’s recently published HR Playbook: HR’s Gameplan for the Future.
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.
The Seven Merit Allocation Strategies—Strengths and Weaknesses
There are seven basic merit allocation strategies, says Consultant Whitney Herrington. Compensation managers should be familiar with them all, including when they are appropriate (and when they are not).
Plan Controls Respond to PBM Spreads, Generic Cost Spikes
If a pharmacy benefits manager promises a group health plan that there will be no administrative fee for drugs, it actually could be a red flag and not a cause for celebration. It could mean the PBM is “gaming the spread” or not passing rebates through to the plan. Plans can prevent this kind of […]
Don’t Wait for Permission—Take Action
It’s not uncommon for me to say, “I’d rather hire someone who will ask for forgiveness than someone who must ask for permission before taking action.” If you’re going to accomplish anything in life, you must be willing to act. And when you do, things don’t always turn out exactly as you would like. Sometimes […]
Trustee Stuck Holding Fiduciary Bag for Service Agreement Terms
Retirement plan sponsors that have agreements with service providers should be aware of a recent appellate court decision that absolved such providers of fiduciary duty — if a plan trustee exercised final control over the terms of their agreement. Background In Santomenno v. John Hancock Life Insurance Co., 2014 WL 4783665 (3rd Cir. Sept. 26, […]
Incentive Plan Funding, Improvements, Evaluation (Survey Results)
Yesterday’s Advisor began our coverage of the incentive Pay Survey; today, more survey results, including how respondents fund incentives, how they communicate their plans, how they evaluate, and how they would improve them.
Court Approves $1M Settlement in COBRA Class Action Lawsuit
A federal district court gave preliminary approval to a $1 million settlement agreement that would resolve a class action lawsuit alleging that an employer/plan administrator, in farming out its employees to clients, violated COBRA’s initial and election notice rules, as well as its premium subsidy rules. The settlement would consist of a $375,000 payout to […]
Two-thirds of Employers Provide Some Type of ‘At risk’ Pay to Employees (Survey Results In)
BLR’s 2014 Variable Pay Survey reveals that almost two-thirds of participants put some employee pay at risk. Some 1,452 employers participated in the recently completed survey. Here are some highlights:
Pay for Performance Matrix with Maximum Penetration Targets
Yesterday’s Advisor featured the first 5 of Consultant Whitney Herrington’s 7 alternatives for deciding on merit pay. Today, alternatives #6 and #7.
The Seven Merit Allocation Strategies—Strengths and Weaknesses
There are seven basic merit allocation strategies, says Consultant Whitney Herrington. Compensation managers should be familiar with them all, including when they are appropriate (and when they are not).