Practical HR Tips, News & Advice. Updated Daily.
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.
Lambert, who offers payroll training as “The Payroll Advisor,”says that you can’t give payroll auditing over to just anyone who’s free. There are three points that are critical for choosing the auditor. 1. Not the Person Who Does the Job First, says Lambert, you want someone other than the one who does the job to […]
Eye on the Election For today’s topic—likely changes to health care reform after the election—we turned to BLR legal editor Jessica Webb-Ayer, J.D., editor of the Benefits Compliance Advisor online newsletter and the benefits manual Benefits Compliance: Strategies for Plans, Programs & Policies. Although health care reform (also known as the Affordable Care Act or […]
Yesterday’s Advisor discussed the C-Suite and HR metrics; today, suggested metrics for different functions. Again, our insights come from the all-HR-in-one website, HR.BLR.com. Here are suggested metrics for various HR functions: Metrics for the Recruiting Function Time to fill a vacancy Quantity and quality of applications based on recruiting source HR cost per hire Voluntary/involuntary […]
As a growing number of large U.S. companies announce plans to “de-risk” their traditional defined benefit plans to lower their pension obligation and retiree distribution costs, the Pension Rights Center called for a moratorium on such actions until Congress can look into the risks these strategies pose to workers and retirees. On Oct. 17, Verizon […]
Lambert, who offers payroll training as “The Payroll Advisor,” says that if you are doing an audit, might as well audit for fraud as you go. She’s found a lot of fraudulent behavior that way. Auditing for Fraud Payroll fraud is defined as “anything that uses payroll to take money from the company in a […]
To be business leaders, HR professionals must utilize C-Suite thinking in reporting and decision support. And that means metrics. For guidance we turned to the all-HR-in-one website, HR.BLR.com. A metric is simply a way to quantify, measure, and track key performance indicators. Metrics can support decisions related to: Compensation programs Hiring and retention Succession planning […]
When given a chance each year to change their employee benefits, including retirement savings options, most American workers don’t, a recent poll by insurance and benefits provider MetLife found. And just over half of those surveyed feel very confident that they will make the right choices for themselves and their families during this “open enrollment” […]
Despite the fact that most comp managers are crazy busy, it’s time to add a task to the mix, says Dorf—a thorough compensation program audit. And, yes, in spite of what could be construed as a self-serving suggestion, he wants you to hire someone else to do it. Dorf is managing director of Compensation Resources, […]
People Don’t Understand the Demographics Companies tend to relax about compensation during an economic downturn, but that may be a mistake, says Dorf, who is managing director of Compensation Resources, Inc. in Upper Saddle River, NJ. “I don’t think people understand how demographics fit with this recession,” Dorf says. The number of people who are […]
Metrics for Compensation Programs Compensation costs per dollar of profit Compensation costs per dollar of revenue Analysis of performance and production levels of employees paid in the top 30 percent of their salary range Total compensation costs as a percent of total company operating costs Analysis of compensation levels to the marketplace and key competitors […]