How to Mitigate Perceptions of Compensation Bias
In a previous post, we discussed that 31% of U.S. employees—in a recent Beqom survey—feel they are not being paid fairly based on age or race, while 48% believe women are underpaid relative to men.
Tag: benefits
Salary and Bonus Pay Attract Talent, but Is There Bias?
In a tight labor market, employers are constantly looking for new ways to attract and retain top talent. Many companies offer generous benefits packages, flexible work hours, and other incentives. But data consistently show that financial compensation in the form of salaries and bonuses still represents the biggest draw for many employees.
Projection of Slight Decrease in U.S. Health Insurance Rates a Blip, Says Expert
I recently sat down with Francis Coleman, Managing Director, Health and Benefits, Global Services and Solutions, Willis Towers Watson to discuss their recent Global Medical Trends Survey results.
5 Companies That Excel at Attracting Working Dads
We hear a lot about the need to attract working mothers to the workforce and what types of benefits companies should be offering this demographic in order to stand out among the competition. Yet, we hear little about how to attract working fathers.
DOL Auto-Portability Approval May Ease Rollovers, Reduce Missing Participants
With the current focus in the retirement plans community on missing and unresponsive 401(k) plan participants, practitioners have sought additional guidance from the U.S. Department of Labor (DOL) to clarify the meaning of a “reasonable search” for participants by an ongoing plan (see August column). As the community waits, plan fiduciaries are reviewing their current […]
Proposed IRS Hardship Distribution Regulations Change Standard for Determination
The Internal Revenue Service (IRS) has proposed regulations that would change the rules for hardship distributions from 401(k) and 403(b) retirement plans by replacing the facts-and-circumstances test for determining hardship eligibility with a three-part general standard.
Three Inexpensive Ways to Reward Employees this Holiday Season
With unemployment at its lowest in nearly half a century, employee retention is a major challenge for most employers. Factors like emerging markets, flexible work arrangements, remote employment, and contingent employment have made the professional landscape as competitive as ever.
Are Your Employees Using Their 401(k)s to Maximum Effect?
I recently sat down with Chris Whitlow, the CEO of Edukate to talk about the 401(k). As many of you know, employers are knee-deep in annual reenrollments. This includes getting people to think about their investments, says Whitlow.
In Light of Wage Raise, Amazon Eliminates Bonuses and Stock Awards
In a previous post, we discussed Amazon’s recent announcement to raise the minimum wage of all U.S. employees to $15 per hour on November 1, 2018. The move was lauded by the likes of 2018 Democratic presidential hopeful and Vermont Senator Bernie Sanders.
9 Impactful Benefits Employers Should Consider Offering
The current tight job market has organizations looking to stand out from the crowd. Job hunters are frequently weighing multiple job offers and have come to expect health coverage and retirement savings options as part of the benefit offerings. Employers are finding they need to differentiate themselves from competitors in the marketplace. One way to […]