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How inflation affects pay raises

Business Management Daily

Some saw typical wage growth and bonuses, but most of us received salary cuts as inflation ate up more and more of our paychecks. Companies like American Airlines received billion-dollar bailouts in the Payroll Support Program to make up the difference, but they chose to use the money on executive bonuses and a fleet of new jets instead.

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How to tackle wage growth and remain competitive in a tough market

Insperity

Whether you realize it or not, if you’re hiring employees or giving out pay raises, your company already has a compensation philosophy. Because it: Serves as the foundation and principles for how your company pays its people. Examine why your pay practices are in place. Embrace pay transparency.

Salary 106
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3 Tech Tools No HR Department Should Be Without

Insperity

W-4 changes, pay raises, etc.) And for changes that will be standard going forward, such as a pay raise or new 401(k) deduction, there is no need to enter this again. Most payroll systems house historic data in the form of piece rate, commission, bonuses and other special pay types. Developing employees?

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What’s a merit increase, and should your business use them?

Business Management Daily

Retaining top performers has become a serious challenge for recruiters in recent years. A merit increase or merit raise refers to a pay increase based on an employee’s performance. Merit pay is a permanent increase to an employee’s base salary and tends to go hand-in-hand with regular performance reviews. A staggering 50.6

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How to tackle wage growth and remain competitive in a tough market

Insperity

Whether you realize it or not, if you’re hiring employees or giving out pay raises, your company already has a compensation philosophy. Because it: Serves as the foundation and principles for how your company pays its people. Examine why your pay practices are in place. Embrace pay transparency.

Salary 87
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Is Your Employee Asking for a Raise? Here’s What to Do

Patriot Software

How much money would you spend on recruiting a new worker? Examine pay raise alternatives. If you can’t afford a pay raise but want to show a deserving employee you value their work, you have options. Consider offering a pay raise alternative, like a bonus, more paid time off , or flexible scheduling.

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Essential aspects to consider for your team’s motivation

Hppy

Contemporary HR issues revolve mostly around lack of motivation that leads to underperforming employees, many promising recruits suddenly lose their touch only a few months in the job, and their enthusiasm diminishes within a short time. .” Most importantly, teams that are focused and motivated are the ones that achieve results.

Health 69