Salary, Benefits, Variable Pay: Bonuses, Profit Sharing
Are your salary, benefits and bonus fair? Will your salary and benefits help you retain excellent staff? Will your pay package attract great candidates? What opportunities exist for increasing benefits at reasonable cost? These resources answer these questions about salary, benefits, profit sharing, bonuses and 401(k)s.
Human Resources Job Prospects and Earnings
Many people are eager to start a career in Human Resources, as it is a fast-growing field with many lucrative opportunities. Career analysts expect the number of Human Resources jobs to increase in the projected future and the median annual income is above the national average. For these reasons and more, you are probably wondering how to start an HR career of your own. Find out more about breaking into a career in Human Resources.
Many people are eager to start a career in Human Resources, as it is a fast-growing field with many lucrative opportunities. Career analysts expect the number of Human Resources jobs to increase in the projected future and the median annual income is above the national average. For these reasons and more, you are probably wondering how to start an HR career of your own. Find out more about breaking into a career in Human Resources.
Salary Trends for Forward Thinking Organizations
How to research salary, salary calculators, salary surveys, salary comparisons, basically, all things salary, online, is one of the most frequent requests for information received by the Society for Human Resource Management (SHRM). This makes sense when you consider the importance of salary to attract talented people, retain key employees, and maintain an excited, motivated workforce.
How to research salary, salary calculators, salary surveys, salary comparisons, basically, all things salary, online, is one of the most frequent requests for information received by the Society for Human Resource Management (SHRM). This makes sense when you consider the importance of salary to attract talented people, retain key employees, and maintain an excited, motivated workforce.
Tips for Determining a Motivating Salary
Information online makes researching salary ranges easier than setting salaries has ever been in the past - but, also trickier. The role of salary in helping you create a motivated, contributing work force is inestimable. These tips will help you address pay and salary issues in a way that contributes to employee motivation in your organization.
Information online makes researching salary ranges easier than setting salaries has ever been in the past - but, also trickier. The role of salary in helping you create a motivated, contributing work force is inestimable. These tips will help you address pay and salary issues in a way that contributes to employee motivation in your organization.
Make More Money: Your Lifetime Income Potential
Work is about the money. Work only becomes not about the money when you have sufficient income – however you define sufficient income – to support your chosen life style. With sufficient money, work becomes about other motivations. Maximize lifetime income potential by the choices you make for your career and how you work with your employer. Learn how to maximize your lifetime income potential.
Work is about the money. Work only becomes not about the money when you have sufficient income – however you define sufficient income – to support your chosen life style. With sufficient money, work becomes about other motivations. Maximize lifetime income potential by the choices you make for your career and how you work with your employer. Learn how to maximize your lifetime income potential.
Sales Compensation: Retain Sales Super Stars
Keeping salespeople motivated can be a real challenge. What motivates one might not motivate another. Good sales managers know this and are always aware of where their individual salespeople are on that "motivational" scale. Sales compensation is a crucial factor in motivation. Learn more about keeping great salespeople with successful sales compensation.
Keeping salespeople motivated can be a real challenge. What motivates one might not motivate another. Good sales managers know this and are always aware of where their individual salespeople are on that "motivational" scale. Sales compensation is a crucial factor in motivation. Learn more about keeping great salespeople with successful sales compensation.
Variable Pay
Variable pay is used generally to recognize and reward employee contribution toward company productivity, profitability, team work, safety, quality, or some other metric deemed important. Variable pay changes depending upon the circumstances. Learn more about variable pay.
Variable pay is used generally to recognize and reward employee contribution toward company productivity, profitability, team work, safety, quality, or some other metric deemed important. Variable pay changes depending upon the circumstances. Learn more about variable pay.
Profit Sharing
Profit sharing is an example of a variable pay plan. Profit sharing is taking a percentage of a company’s annual profits and then dividing the pool of money generated across all employees using a formula for distribution. Profit sharing payments are only made if the company has been profitable for the time period specified. Find out more about profit sharing.
Profit sharing is an example of a variable pay plan. Profit sharing is taking a percentage of a company’s annual profits and then dividing the pool of money generated across all employees using a formula for distribution. Profit sharing payments are only made if the company has been profitable for the time period specified. Find out more about profit sharing.
Severance Pay
Severance pay is money that an employer might want to provide for an employee who is leaving their employ. Normal circumstances that might warrant severance pay include layoffs, job elimination, and mutual agreement to part ways for whatever reason. Severance pay usually amounts to a week or two of pay for each year of service to the company. In some instances, a severance package might include extended benefits and outplacement assistance.
Severance pay is money that an employer might want to provide for an employee who is leaving their employ. Normal circumstances that might warrant severance pay include layoffs, job elimination, and mutual agreement to part ways for whatever reason. Severance pay usually amounts to a week or two of pay for each year of service to the company. In some instances, a severance package might include extended benefits and outplacement assistance.
The Impact of the Minimum Wage Increase
The increase in the minimum wage on July 24, 2007 from $5.15 to $5.85 an hour, is expected to have minimal impact on most employers nation-wide. That's because 32 states and the District of Columbia have already established minimum wage levels higher than the new federal level. The minimum wage will increase again to $6.55 on July 24, 2008, and to $7.25 per hour on July 24, 2009. It is the first increase in the federal minimum wage in a decade. Find out more about the minimum wage.
The increase in the minimum wage on July 24, 2007 from $5.15 to $5.85 an hour, is expected to have minimal impact on most employers nation-wide. That's because 32 states and the District of Columbia have already established minimum wage levels higher than the new federal level. The minimum wage will increase again to $6.55 on July 24, 2008, and to $7.25 per hour on July 24, 2009. It is the first increase in the federal minimum wage in a decade. Find out more about the minimum wage.
Labor and Compensation Issues
People work for many reasons including love, money, and creating a successful future. Celebrate Labor Day with our special resource about Labor Day, labor unions, compensation, salary, bonuses, benefits, and more.
People work for many reasons including love, money, and creating a successful future. Celebrate Labor Day with our special resource about Labor Day, labor unions, compensation, salary, bonuses, benefits, and more.
Holiday Pay Practices: Do You Know What Your Legal Requirements Are?
The end of the year is a good time to review your company’s holiday pay practices. This article answers common questions regarding holiday pay related issues.
The end of the year is a good time to review your company’s holiday pay practices. This article answers common questions regarding holiday pay related issues.
Reward, Recognition, Award, and Thank You Ideas
Looking for convenient, appreciated, reasonably cost-conscious ways to reward, recognize, demonstrate your appreciation, award, and say "thank you" for contributions that people make at work? These ideas will help.
Looking for convenient, appreciated, reasonably cost-conscious ways to reward, recognize, demonstrate your appreciation, award, and say "thank you" for contributions that people make at work? These ideas will help.
What Good People Really Cost
Losing a good person to another employer costs more than you might think. The About Guide to Management, John Reh, helps you consider the real cost of losing people.
Losing a good person to another employer costs more than you might think. The About Guide to Management, John Reh, helps you consider the real cost of losing people.
Salary Negotiation
"Whether you've found that perfect job or are in hot pursuit of it, sooner or later you will be negotiating salary." If you follow this advice, not only will you earn more money, you will win the respect of your new manager. Check out all of the negotiation resources at this excellent site.
"Whether you've found that perfect job or are in hot pursuit of it, sooner or later you will be negotiating salary." If you follow this advice, not only will you earn more money, you will win the respect of your new manager. Check out all of the negotiation resources at this excellent site.
Development of a Salary Administration Plan
This article outlines all of the steps in the development of a complete salary administration plan including philosophy, job analysis, salary administration policy, and a communication plan for managers.
This article outlines all of the steps in the development of a complete salary administration plan including philosophy, job analysis, salary administration policy, and a communication plan for managers.
Business Tax Guide and Information
This site from the U.S. Internal Revenue Service provides updated information on benefits, compensation, tax withholding, retirement funding, definitions of employees and contractual relationships, and more. Readable!
This site from the U.S. Internal Revenue Service provides updated information on benefits, compensation, tax withholding, retirement funding, definitions of employees and contractual relationships, and more. Readable!
Lessons from 100 Years of Compensation
Lessons from 100 Years of Compensation, from the Center for Advanced Human Resource Studies at Cornell University, discusses the history of compensation systems and what the best organizations emphasize today.
Lessons from 100 Years of Compensation, from the Center for Advanced Human Resource Studies at Cornell University, discusses the history of compensation systems and what the best organizations emphasize today.
Powerful Compensation Strategies
Click on White Paper #8 to read about 23 compensation strategies that help the HR function have an impact on employee productivity and the business bottom line.
Click on White Paper #8 to read about 23 compensation strategies that help the HR function have an impact on employee productivity and the business bottom line.
Severance Pay From D.O.L.
This is a handy guide to severance pay from the U.S. Department of Labor. The article offers links to other useful D.O.L. web pages about pensions, salary, and other compensation issues.
This is a handy guide to severance pay from the U.S. Department of Labor. The article offers links to other useful D.O.L. web pages about pensions, salary, and other compensation issues.
Social Security Administration
The Social Security Administration site provides information for employers about benefits, filing responsibilities, and more.
The Social Security Administration site provides information for employers about benefits, filing responsibilities, and more.
Strategic Pay
Compensation strategy is the core of this article which explores base pay, variable pay, merit increases, non-pay rewards and more. Check out additional information by clicking the articles in the right sidebar. (You'll need to register for free at Workforce to read their articles. Do it. It's worth the time.)
Compensation strategy is the core of this article which explores base pay, variable pay, merit increases, non-pay rewards and more. Check out additional information by clicking the articles in the right sidebar. (You'll need to register for free at Workforce to read their articles. Do it. It's worth the time.)
Team Compensation: A Broad Overview
Article summarizes the subject of team compensation and offers guidance on types of compensation, rationale for team compensation, approaches to team compensation, and information about the impact of team compensation on the individual worker.
Article summarizes the subject of team compensation and offers guidance on types of compensation, rationale for team compensation, approaches to team compensation, and information about the impact of team compensation on the individual worker.