Pay equity in the workplace has increasingly become non-negotiable for both employees and candidates. People want transparency around how employers pay and what those decisions are based on. And yet, only 56% of companies have solid strategies and practices in place to identify equity gaps. This article takes a closer look at pay equity, covering…
Maintaining accurate payroll records is a key HR responsibility. However, one in four employees have received a paycheck with errors, and 29% of employers say they only uncover these mistakes when running a payroll audit. Organizations must make sure they’re paying their employees correctly and on time, and comply with ever-changing employment laws and payroll…
A well-crafted time off request form is the key to coordinating how and when employees take time off. Because time off is such a crucial part of compensation and benefits packages, it’s important to effectively manage how employees request and receive it. In this article, we’ll review the purpose and elements of a time off…
Providing comprehensive support to employees through well-structured benefits is critical, and this includes the implementation of a sensitive and fair bereavement policy. By recognizing the complexities of grief, HR professionals are increasingly encouraging employers to adopt policies that offer time and space for employees to mourn, reflecting an understanding that the wellbeing of staff is…
When HR professionals struggle to find, hire, and retain employees, the competition for talent is becoming more challenging by the day. This is especially true when one of the first things employees look at before even receiving a job offer is their compensation package. In fact, 83.4% of employees rank compensation as the top factor…
Compensation and benefits refers to the monetary and non-monetary rewards an employee receives from their employer in exchange for their work. Together, they make up a total compensation package, which may include salary, bonuses, insurance, retirement contributions, and various other perks aimed at attracting, motivating, and retaining employees. Overall compensation is the top factor that…
In today’s fast-paced and competitive business environment, a skilled Benefits Coordinator is vital for employee wellbeing and satisfaction. According to a Qualtrics report, employees who are satisfied with their salaries and benefits are 13% more likely to continue working for their current employer for 3+ years. Aflac also found that 83% of organizations believe their…
Are you looking to create a sales compensation plan for your company? U.S. organizations spend more than $800 billion each year to manage their sales force, with $200 billion devoted solely to compensation. Almost 80% of U.S. firms revise their compensation structure every two years or less, to better motivate salespeople and to tailor their…
Do you know if your employees are all paid fairly? Are the salaries your organization offers competitive? According to Payscale’s Fair Pay Impact Report, 68% of employees surveyed believe they’re underpaid, even when their earnings are at or above market rates. Calculating the compa ratio can help you cut through perception and get a clear…
Unlimited paid time off (PTO) is a simple idea: employees are given an unlimited number of days off. They neither accrue nor are they assigned a number of vacation days per year. It may sound unbelievable, but companies like Goldman Sachs, Netflix, Oracle, and LinkedIn are doing it. The goal is to give employees greater…
