Compensation & Benefits

Gift Ideas for Employees and Co-Workers Should Be Functional, Appropriate

Posted by in Compensation & Benefits | Comments Off on Gift Ideas for Employees and Co-Workers Should Be Functional, Appropriate

Employee gifts given either by employers or co-workers must be carefully considered, so gift giving doesn’t violate any company policies and are also appropriate. Generally, giving functional gifts are the best choice because they are not too personal.

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An Employee Discount Program Is An Effective Benefit

Posted by in Compensation & Benefits | Comments Off on An Employee Discount Program Is An Effective Benefit

An employee discount program could be a great opportunity for your business to compete in the labor marketplace and help you retain more of your best employees. As this employee benefit becomes more popular, there are third-party vendors that will help you plan, implement and manage an employee discount program.

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U.S. will Need more than 15 Times their Final Pay to Reach their Retirement Goals

Posted by in Compensation & Benefits | Comments Off on U.S. will Need more than 15 Times their Final Pay to Reach their Retirement Goals

It’s no surprise that the recession of 2009 adversely affected everyone’s retirement portfolio. First, with the plunge in the investment markets and second because most employers had to freeze salary and wage levels and eliminate raises, bonuses and, in many cases, matching 401(k) contributions. According to a recent Hewitt Associates study, employees in the U.S. will need more than 15 times their final pay to reach their retirement goals. The upside is that this number hasn’t increased, but still more than 80% of all workers are not likely to accumulate enough financial...

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Like Many Animal Species, the Recession Threatens the Extinction of Many Employee Benefits

Posted by in Compensation & Benefits | Comments Off on Like Many Animal Species, the Recession Threatens the Extinction of Many Employee Benefits

Although the recession hit the global economy very hard, the business environment survived the impact, but many employee benefits have become as endangered as pandas, cheetahs, elephants and many other living species threatened with extinction. According to various studies, U.S. employers eliminated an average of as many as five major employee benefits during 2009. You may or may not have eliminated the following benefits, but many companies have to survive until the economy becomes robust again. 1. Luxury Perks: Executives and many other employees certainly enjoyed the free limo service to...

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Experts, Studies State That Most Employers Will Continue to Provide Health Insurance Benefits for Most Employees, Despite Health Care Reform Changes

Posted by in Compensation & Benefits | Comments Off on Experts, Studies State That Most Employers Will Continue to Provide Health Insurance Benefits for Most Employees, Despite Health Care Reform Changes

With the passage of the health care reform legislation, employers and employees are faced with a number of health insurance benefits challenges. Employees fear that their employers will decide that they can save money if they eliminate coverage, pay the penalty, as prescribed by the new law, and expect employees to buy health insurance on the individual market. According to some experts and current research, however, the great majority of companies will not drop or reduce health insurance coverage. In many cases, employers will choose to maintain health-insurance benefits for their...

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Progressive Employers Expand Employee Benefits Packages to Include Commuter-Costs

Posted by in Compensation & Benefits | Comments Off on Progressive Employers Expand Employee Benefits Packages to Include Commuter-Costs

Economic pressures during the last two years have forced employers to freeze or reduce employee benefits. According to a recent Society of Human Resource Management (SHRM) survey, employee benefits have decreased at 60 percent of the companies participating in the survey. Some forward-thinking employees, however, have decided to pay employees’ commuter costs as a proactive benefits strategy. There is evidence that doing so can improve a company’s financial picture, help balance employees family budgets and contribute to a greener world. Many of those progressive employers base...

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