Compensation Will Drive Recruiting and Retention in 2020

Recruiting Daily Advisor

In the world of recruiting and retaining top talent, compensation will drive all your efforts this year. Those who say they are likely to search for a new job in 2020 are more likely to say they are not paid fairly (43%).

5 Best Compensation Management Software for 2020

HR Technologist - RB

Compensation management software can help you achieve pay transparency and reward employees accurately. Here are five great platforms to consider in 2020. Compensation & Benefits

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IRS, SSA Adjust Benefits Thresholds for 2021

Recruiting Daily Advisor

Employees will be able to contribute up to $2,750 to a health flexible spending account (FSA) in 2021, the same as in 2020, the Internal Revenue Service (IRS) announced in Revenue Procedure 2020-45. However, changes were made to certain other benefits thresholds and limits. in 2020).

Benefit Considerations in Uncertain Times

Recruiting Daily Advisor

The initial fallout from the COVID-19 pandemic is putting new urgency on company benefits. As employees look to their benefits offerings, companies are responding in kind by leveraging, expanding, and creating new benefits to answer the needs of their employee populations.

Employee Benefits Trends 2020: 5 Ways to Benefit

HR Technologist - RB

Is your benefits catalog 2020-ready? Find out with our roundup of the top five employee benefits trends for 2020. Compensation & Benefits

Understanding the FARM Components of Compensation

Recruiting Daily Advisor

Have you heard of the acronym FARM as it relates to compensation? I first heard this term from a BLR ® webinar run by Paul Dorf, the Managing Director of Compensation Resources, Inc. The point here is that compensation can be used to incentivize employees to focus on specific things.

Does Compensation Motivate Employees?

HRsoft

Many employers believe that an excellent compensation package holds the key to employee engagement and motivation. Effects of Compensation on Employees. According to studies, compensation packages have a huge impact on an employees’ level of engagement.

How to Approach Employee Compensation During a Furlough

Recruiting Daily Advisor

In other words, they must display hallmarks of continued employment, which may include reimbursing for mixed-use assets, as well as be prepared to compensate employees for any work they do perform while furloughed. Compensating for Work Performed.

How to Choose an Employee Benefits Consultant

Recruiting Daily Advisor

Both job candidates and employees expect competitive and accessible benefits from employers, especially given the tight labor market. Providing employees with the benefits they want can improve their morale and performance and lead to higher productivity, engagement, and profitability.

6 Noteworthy Benefits of Compensation Planning Software

HRsoft

To keep employees engaged and to reward them appropriately, organizations must use robust compensation programs that go beyond base pay to factor in elements of total rewards. Compensation planning solutions provide a number of key benefits for organizations.

Compensation Management Software – The Key to Strategic Compensation Planning

HRsoft

Where Do Compensation Management Systems Fit Within Your Company? The salary, benefits and paid time off your company offers to your employees is a vital part of maintaining a stable and qualified workforce. Reward and benefit planning.

New Employer Benefits for the Post-COVID World

Recruiting Daily Advisor

As part of this broader change, companies also altered the benefits they offered to new hires and existing workers. Expanding benefits is needed to keep these workers happy and engaged. The term “COVID Puppy” or “quarantine dog” became part of the cultural language in 2020 and 2021.

How Compensation Affects Employee Performance

HRsoft

Compensation is the reward given to employees in return for their services rendered and it is often the cornerstone of a productive workforce. The quality and performance of your company’s talent pool is usually directly dependent on how well you execute your compensation planning strategies.

Top 4 Employee COVID-19 Benefits Coverage Questions

Recruiting Daily Advisor

While the number of COVID-19 cases appears to be plateauing in much of the country, employees continue to have more questions and concerns about their health benefits and coverage than ever. How Does Our Benefit Plan Cover COVID-19?

8 HR Strategies All HR Personnel Should Follow in 2020

HR Technologist - RB

As an HR professional, it is essential that you understand the laws surrounding disability workers’ compensation in all the states that your company has employees. Compensation & Benefits

How Your Small Business Can Offer Competitive Employee Benefits

Recruiting Daily Advisor

Just because your small business has a smaller payroll and fewer flashy resources than bigger companies doesn’t necessarily mean that you can’t offer competitive benefits. Here are some steps to offer the best benefits possible to your small business employees and prospective hires.

Benefitfocus Comes up With a New Platform for Benefit and Compensation Management

HR Technologist - RB

Benefitfocus's platform enhancement program provides consumers with expanded forms of benefits and compensation. Compensation & Benefits

Employee Health Benefits Evolve Amidst New Regulations for ICHRAs in 2020

HR Technologist - RB

Ahead of the induction of new regulations for ICHRAs in 2020, Kristen Appleman, Vice President Health & Wealth at ADP TotalSource shares considerations for employers and HR leaders to successfully navigate compliance of legal changes, while also balancing the overall employee experience.

ADP 92

Employer-Provided Benefits for Remote Workers

Recruiting Daily Advisor

HR teams often put a lot of time and effort into creating benefit packages and perks for employees that help them remain satisfied and engaged at the workplace. The post Employer-Provided Benefits for Remote Workers appeared first on HR Daily Advisor.

Not All Benefits Are Made Equal

Recruiting Daily Advisor

Some benefits will, by default, benefit some employees but not others. Sometimes, it’s because not all employees are eligible for certain benefits. Let’s take a look at how certain benefits help some employees more than others.

6 Questions to Create Employee-Centered Benefit Plans in 2021

Recruiting Daily Advisor

As HR leaders deliver on 2021 benefits enrollment and already begin to think through 2022, how can they develop benefit plans that place employees at the heart of decision-making? How are you attracting, recruiting, and retaining the best talent by leveraging the benefit plan?

Professional Alternatives Wins 2020 National Best & Brightest Award

Professional Alternatives

Professional Alternatives has been named one of the 2020 Best and Brightest Companies to Work For® in the United States by the National Association for Business Resources (NABR). News best and brightest 2020 best companies to work for in houston houston best and brightest 2020

3 Benefits You?ll Need to Offer Post-Pandemic

Recruiting Daily Advisor

Have you reevaluated your employee benefits package since social distancing was implemented? You’ll need new, creative benefits to retain talented employees and snag new superstars. Similarly, other benefits—like generous vacation policies and fitness stipends—won’t feel the same.

Deskless Workers Want Better Benefits

Recruiting Daily Advisor

Try offering a better benefits package. According to new survey findings released by Quinyx , a workforce management platform, COVID-19 has created a demand for better benefits. Even 1 in 5 (18%) who kept their jobs say they plan to leave for better benefits, such as sick leave.

Unlimited Vacation: Worker Exploitation or Dream Benefit?

Recruiting Daily Advisor

Is it a marketing slogan for a system to exploit workers, or is it an attractive benefit that recognizes the changing nature of many workplaces? Even “unlimited vacation” skeptics should acknowledge the potential benefits of adopting such a policy.

Companies Are Expanding and Personalizing Benefits to Compete for Talent

Recruiting Daily Advisor

Recent research shows that organizations are continuing to attract and retain top talent by offering personalized and expanded employee health benefits. Specifically, they are focusing on lifestyle benefits that go beyond health care.

Is Tuition Reimbursement a Benefit for You? Use it!

Fistful of Talent

One of the best benefits you can get from an employer is the opportunity to engage in “professional development” When I first started in sourcing, my employer made sure I attended sourcing training regularly to develop my skills. I highlight that company benefit.

Diverse Compensation Plans Are a Win-Win for All

Recruiting Daily Advisor

That stake in the business can take the form of profit sharing or even an equity interest, as most Americans want greater diversity beyond just base wages in their compensation plans. There are a number of ways businesses can diversify their compensation plans for employees.

Q&A: Identity Theft Benefits More Relevant Than Ever

Recruiting Daily Advisor

HR Daily Advisor: You recently did some research about identity theft protection as a benefit in the workplace. HR Daily Advisor: What does an identity theft benefit look like? HR Daily Advisor: I understand your research also looked into legal services benefits.

Paid Time Off and Other Coronavirus-Specific Benefits to Offer Employees

HR Technologist - RB

While paid time off is the least companies can give COVID-19-affected employees, here are five other benefits you could offer them to simplify their lives. Compensation & Benefits

Washington policy update: March 2020 Benefits and Compensation Bulletin

Bersin

Posted by Robert Davis , Christine Drager , Maria Moliterno on March 27, 2020. GAO Issues report on Executive Retirement Plans: The Government Accountability Office issued a report in January 2020 on the oversight of Executive Retirement Plans.

Hey, HR, Your Employees Are (Finally) Interested in Their Voluntary Benefits

Recruiting Daily Advisor

Typically, employees think about their benefits two times: when they are first hired and the day before benefits elections are due. According to recent research from Voya Financial, 71% of employees plan to spend more time reviewing their voluntary benefits this year compared with last.

Compensation: Definition & Impact on Your Organization

HRsoft

Perform a quick online search for “compensation definition” and you’re bound to yield thousands of results. But is that really all compensation is? In the world of HR, compensation takes on a more significant meaning.

How Employee’s Refusal to Return to Work Affects Jobless Benefits

Recruiting Daily Advisor

Finally, some may be temporarily receiving more benefits from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Each refusal may affect the individual’s continuing claim to unemployment compensation benefits. Receiving Enhanced Unemployment Benefits.

The Pillars of an Effective Compensation Management Process

HRsoft

The overarching objective behind your organization’s compensation management process is to pay your employees fairly without exceeding its budget. 3 Pillars Behind Effective Compensation Management Processes.

6 Benefits Trends for 2020 and What You Need to Know

HR Technologist - RB

With Q4 representing that busy period when open enrollment is active for employees’ workplace benefits before they go live in January, the end of the year may not seem like a wind-down for many HR professionals. Compensation & Benefits

Using Benefits to Support Employees Who Are Caregivers

Recruiting Daily Advisor

Fortunately, there are ways employers can be proactive about this situation and lessen its negative impact, such as through benefits that can help employees faced with caregiving responsibilities shoulder them without as much of a negative impact on their job.

How HR Can Address Pain Points in Virtual Benefits Enrollment This Fall

Recruiting Daily Advisor

Onboarding has largely gone virtual, work has mostly gone remote, and benefits enrollment season is undergoing a radical change, too. Social distancing guidelines and work-from-home policies have forced most benefits enrollment processes to be managed virtually.

Q&A: COBRA Benefits During the Outbreak

Recruiting Daily Advisor

In a recent article about Consolidated Omnibus Budget Reconciliation Act (COBRA) benefits during the pandemic, we received a number of questions. Alan Silver, Senior Director of Health and Benefits for Willis Towers Watson , offered his expertise on this topic.

Family-Friendly Benefits vs. Work Perks: Which Will Win the War for Talent?

Recruiting Daily Advisor

Now that we’re living in the COVID era, the benefits game has changed yet again. COVID-19 Shifts the Benefits Landscape. Child Care, Elder Care—Employees CARE About Family Benefits. In February 2020, the “Work + Life Report” captured responses from 1,254 U.S.