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Importance of Employee Benefit Package And Why it Matters

HR Digest

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Overtime pay 3.

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What is Hire-to-Retire (HTR)?

HR Lineup

Payroll software and Benefits Administration Systems enable HR teams to automate pay cycles, manage benefits packages, and ensure compliance with labor laws. By streamlining these operations, organizations can reduce errors and enhance employee satisfaction.

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Final Overtime Rules Raise Exempt Salary Threshold 65%

InterWest Insurance Services

Department of Labor has issued a final rule increasing the federal salary threshold for overtime exemptions by 65%, with the full increase starting in 2025. A salaried bona fide executive, administrative or professional employee must earn that amount or more if an employer wants to exempt them from federal overtime requirements.

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DOL Proposes Massive Increase in Overtime Pay Threshold

InterWest Insurance Services

Department of Labor has issued its long-awaited proposed changes to the nation’s overtime rules for American workers, proposing to increase the threshold for exempt status by more than 50% to $55,000. You’ll also have to put in place systems for tracking their hours worked, including overtime.

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How to Streamline Your Insurance Policy Audit

InterWest Insurance Services

For example, to set your premium, your broker considers pay but not contributions to employee benefits packages and other perks, so it’s important to make sure your records are clear on the various types of compensation. Make sure you break out various types of compensation in your records.

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Types of Compensation: Everything HR Needs to Know

HR Lineup

Overtime Pay: Employees who work beyond their regular hours may be eligible for overtime pay, compensating them for the extra time and effort put into their work. Crafting a comprehensive benefits package that meets the diverse needs of employees while staying competitive in the job market is a key responsibility for HR.

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Total Compensation Report Statements: Unveiling the Value Beyond the Paycheck – Sample Included

COMPackage

Employees increasingly value a comprehensive benefits package that contributes to their financial well-being and overall work experience. This article explores the benefits of TCRSs, highlights key considerations for crafting meaningful reports, and offers a sample statement for your reference.

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