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How to Create Efficient Compensation Strategy for Business?

CuteHR

According to 66% of workers, benefits are an essential aspect of overall compensation. The compensation strategy is essential in achieving consistency when it comes to compensation and benefit choices within your firm. However, having a compensation strategy aligned with your business culture is not enough. Overtime Pay.

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The Top-Rated Workplaces for Compensation and Benefits

Indeed

And in today’s world, compensation is so much more than just a number — it also includes the added benefits offered to you by your company, such as health insurance, wellness, time off, bonuses and more. In short, investing in competitive compensation is an investment in your firm. Here’s what we found.

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Retroactively Claiming the Employee Retention Tax Credit: What Staffing Firm Owners Need to Know

The Staffing Stream

Staffing firm owners may be leaving critical funds on the table – potentially tens of thousands of dollars – all from not knowing these four words: Employee Retention Tax Credit (ERTC). According to Rob Tiernan, Vice President at human capital management and tax incentive firm HIREtech , the ERTC presents a unique opportunity for businesses.

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Tips for Mastering Off-Cycle Compensation Adjustments

HRsoft

In the realm of compensation management , off-cycle adjustments often arise as necessary measures to address unique circumstances, such as promotions, market changes, or exceptional performance. Effectively managing off-cycle compensation adjustments is crucial for maintaining employee satisfaction, motivation, and retention.

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Employers are re-thinking experience requirements amid the labor shortage

Leoforce

Plus, by having such tight guidelines for prior work history, you lose out in the end, eliminating the possibility for more diversity and creativity. . Have a retention or hiring problem? Look at key metrics including compensation, promotion duration, pay raise increments, and training or growth opportunities provided for employees. .

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Leveraging Pay Transparency to Create Competitive Advantage in Talent Sourcing

The Staffing Stream

Pay transparency — the practice of making employee compensation figures visible to others, either internally, externally or both — is happening more than ever; in fact, laws are continuously being created to break the barriers of salary inequity. Being transparent about pay will show that you offer competitive compensation.

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Leveraging Employee Referrals to Gain a Competitive Edge in Recruiting

EmployeeReferrals.com

Non-monetary compensation such as flexible work hours, remote options, and a sense of purpose and impact are increasingly important. Non-monetary compensation Non-monetary compensation such as flexible work hours, remote options, and a sense of purpose and impact has become increasingly important for employees today.