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.
In a widely expected move, the Maryland General Assembly has approved a significant increase in the state’s minimum wage by voting for legislation aimed at increasing the current rate of $10.10 per hour to $15 by 2025.
If Massachusetts’ new Equal Pay Act legislation is any indication, sweeping changes are coming, and the crux of forthcoming reforms will be determining comparable work and fair compensation. Companies can get a jump on this by defining and examining comparable work within their own organization to mitigate pay gaps and establish a fair work environment.
I know, we just entered 2019, and already I’m forcing you to think about 2020, but for good reason! As the Boy Scouts say, “be prepared,” and when it comes to your benefits offerings, you’re definitely going to want to plan way ahead to attract talent in 2020.
A wage attachment, also known by the term wage garnishment, happens when there is a court order requiring an employer to use (attach) some portion of an employee’s wages to some other purpose, such as repaying a debt or paying child support. When an employer receives an order for wage attachment/garnishment, the employer must comply […]
Defined benefit (DB) plan sponsors received another “derisking” tool in early March when the Internal Revenue Service (IRS) and U.S. Treasury Department unexpectedly reversed course on retiree lump-sum payouts.
If you missed a paycheck, how much would that threaten your family’s financial situation? That’s the question that became a reality for hundreds of thousands of federal workers in the most recent government shutdown. Unexpectedly, the shutdown highlighted a massive issue in American life: most working professionals—even federal workers—are living paycheck to paycheck and need […]
Now that the U.S. Department of Labor (DOL) has made known its plan for a new threshold for overtime eligibility, it’s time for employers to prepare for a $35,308 a year level, attorneys who have been following developments say.
Many 401(k) plan sponsors seek to reduce their potential fiduciary liability by electing to be a Section 404(c) plan. Under Employee Retirement Income Security Act (ERISA) Section 404(c), a fiduciary is not liable for losses in the plan resulting from the participant’s selection of investments in his or her own account, provided that the participant […]
It is no secret that there is a “war for talent” in the business world to attract the best and the brightest. As this fight continues, and although some of the same best practices we have known for decades still apply, there are other cool, innovative approaches that organizations have successfully used in ensuring the […]
Even with the passing of the Equal Pay Act of 1963, paycheck inequality remains a problematic issue in today’s workplace. There are a lot of reasons behind this—some more objective and obvious, and some more subtle—but the fact remains that pay has not equalized despite that law passing more than 50 years ago.