HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” Over the last 30 years, Defined Contribution Plans, or 401(k), plans have become a popular employer benefit option for saving for retirement. Well, yes and no. ELIGIBILITY.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments for qualified retirement plans. Qualified Defined Benefit Plans. Annual Participant Compensation Limit.

Retirement Plan 52

Retirement Plan 401(k) Flexible Spending Account Flexible Spending 52

COMPackage

NOVEMBER 2, 2024

TCRs shed light on this by detailing all aspects of an employee’s compensation, including: Base Salary: The core component, clearly outlining the annual or hourly wage. Benefits: A breakdown of employer-provided benefits like health insurance, paid time off (PTO), retirement plans, and wellness programs.

PTO 40

PTO Retirement Plan Salary Bonuses 40

HR Lineup

MARCH 29, 2024

Overtime Pay: Compensation for hours worked beyond regular working hours, often paid at a premium rate. Benefits: These encompass various perks and protections offered to employees, including health insurance , retirement plans, paid time off, and other fringe benefits.

Salary 130

Salary Retirement Plan Taxes Health Insurance 130

HR Lineup

FEBRUARY 1, 2024

In the dynamic landscape of human resources, managing compensation is a crucial aspect that directly impacts an organization’s ability to attract, retain, and motivate employees. Compensation goes beyond just the salary paid to employees and includes various elements designed to reward and recognize their contributions.

Bonuses 223

Bonuses Commissions Salary Overtime 223

Qandle

FEBRUARY 16, 2025

In todays highly competitive job market, companies need to adopt strategic ways to manage their employees compensation. Enter Enterprise Compensation Management (ECM), a sophisticated approach to handling compensation and benefits on an organizational scale. Benefits and Perks Compensation doesnt end with cash payments.

Management 52

Management Equity Compensation Bonuses Salary 52

COMPackage

SEPTEMBER 30, 2024

Total Compensation Report Template: Track, Analyze, and Optimize Employee Compensation A total compensation report template is a valuable tool for HR departments, providing a comprehensive overview of an employee’s compensation package.

Employee Compensation 40

Employee Compensation 401(k) Disability Insurance Overtime 40

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. This intricate task demands precision to comply with tax regulations and ensure employees receive their rightful earnings. What is the payroll processing function?

Payroll 98

Payroll Net Pay Gross Pay Payroll System 98

Qandle

JANUARY 29, 2025

Compliance risk in payroll refers to the potential for errors, omissions, or violations of laws and regulations that govern employee compensation. These laws may include tax regulations, labor laws, social security contributions, and employee benefits mandates. Check out the Best Payroll Software.

Payroll Software 90

Payroll Software Software Payroll Overtime 90

Qandle

DECEMBER 11, 2023

Time and Attendance Tracking Recording and monitoring of employee work hours, which facilitates accurate payroll processing and ensures compliance with labor laws. Payroll Management Automation of payroll calculations, tax deductions, and other financial aspects of employee compensation.

Human Resources 105

Human Resources Payroll Software Retirement Plan 105

Hppy

SEPTEMBER 15, 2020

Employee Compensation Considerations . In today’s competitive labor market, companies need to provide appealing compensation packages. This includes the person’s salaries, too, but also refers to paid time off, bonuses, retirement plans, and health benefits.

Employee Retention 91

Employee Retention Retirement Plan Bonuses Employee Compensation 91

Hppy

APRIL 12, 2023

Genuinely helpful benefits that can help employees through the cost of living crisis include competitive retirement plans, financial coaching, and budgeting tools. The post Why traditional employee compensation is not enough in 2023 appeared first on Hppy.

Employee Compensation 36

Employee Compensation Health Insurance Healthcare Retirement Plan 36

Qandle

SEPTEMBER 20, 2024

Employee Records: Centralizes employee information, including personal details, job history, and performance evaluations. Benefits Administration: Manages employee benefits, including health insurance, retirement plans, and leave tracking. Plan and execute data migration carefully to ensure accuracy.

Payroll Manager 105

Payroll Manager Payroll Payroll Software Management 105

Insperity

FEBRUARY 11, 2021

Starting or acquiring a business is a rewarding experience, and your employees would likely agree. As an employer you shoulder a lot of responsibility, especially when it comes to employee compensation. The reward they’re thinking of, however, is a steady paycheck.

Payroll 104

Payroll Overtime Deductible Deductions 104

Qandle

FEBRUARY 12, 2025

These reports can help HR teams track payroll trends, identify discrepancies, and analyze employee compensation effectively. Security and Data Protection Payroll data contains sensitive employee information, so security is a critical factor to consider.

Payroll 52

Payroll Payroll Manager Payroll System Deductible 52

Qandle

DECEMBER 5, 2023

Understanding Payroll Processing: At its core, payroll processing involves calculating employee compensation, including salaries, wages, bonuses, and deductions. This intricate task demands precision to comply with tax regulations and ensure employees receive their rightful earnings. What is the payroll processing function?

Payroll 52

Payroll Net Pay Payroll Software Gross Pay 52

PeopleStrategy

NOVEMBER 7, 2017

With a plan in place, you can finish off the year strong and with your sanity intact. Verify employee compensation. Verify compensation information for every employee in your organization. To help guide your efforts, we’ve put together this checklist of year-end tasks for HR.

Flexible Spending Account 58

Flexible Spending Account Taxes Flexible Spending Retirement Plan 58

Higginbotham

JANUARY 18, 2022

Employee compensation includes a lot more than just the base salary or hourly wage. Bonuses and commissions can give annual earnings a significant boost, and various benefits can also have a major impact on your employees’ finances and wellbeing. When discussing compensation, it’s important to look at the big picture.

401(k) 52

401(k) Disability Insurance Salary Life Insurance 52

Business Management Daily

FEBRUARY 7, 2020

Thankfully, there are various employee retention strategies you can implement if you’re wondering how to retain employees at your company. Employee compensation and benefits. One way to improve employee retention is to offer better compensation and benefits packages. Let’s start with the most obvious option.

Employee Retention 59

Employee Retention Benefits Package Retirement Plan Work From Home 59

COMPackage

JULY 2, 2024

Retirement Plans : Contributions to 401(k) plans, pensions, and other retirement savings accounts. Stock Options and Equity : Company stock options, grants, or other equity compensation. Personalization Tailor the statements to each individual employee. Ensure that the data is accurate and up-to-date.

Health and Welfare 52

Health and Welfare 401(k) Bonuses Retirement Plan 52

Qandle

SEPTEMBER 22, 2023

Termination and Resignation: Employee handbooks often provide information on the procedures for resigning from a job and the circumstances that may lead to termination, as well as any relevant exit processes.

Retirement Plan 52

Retirement Plan Software PTO Overtime 52

COMPackage

SEPTEMBER 25, 2024

A total compensation report template is a valuable asset for HR departments, providing a comprehensive overview of an employee’s compensation package. Base Salary: The primary component of compensation, base salary should be listed prominently, including any applicable overtime or shift differential.

401(k) 40

401(k) Disability Insurance Overtime PTO 40

Insperity

FEBRUARY 26, 2019

Beginning with the more concrete variables and then conducting an apples-to-apples comparison, a PEO can help you identify misalignments between things like: Internal policies on vacation, sick and personal leave Employee compensation, benefits and retirement plans Employment and consulting agreements Payroll administration.

Health and Welfare 65

Health and Welfare Human Resources Payroll Retirement Plan 65

COMPackage

SEPTEMBER 27, 2024

A total compensation report template is a valuable asset for HR departments, providing a comprehensive overview of an employee’s compensation package. Base Salary: The primary component of compensation, base salary should be listed prominently, including any applicable overtime or shift differential.

401(k) 40

401(k) Disability Insurance Overtime PTO 40

Empuls

OCTOBER 6, 2023

As employee satisfaction has taken center stage in business success, employers are more willing to offer comprehensive employee benefits. These benefits are more than just healthcare and retirement plans. They ensure holistic care for employees by improving employees’ personal and professional lives.

Employee Benefits 40

Employee Benefits Health and Welfare Retirement Plan 401(k) 40

Hppy

JANUARY 17, 2023

Additionally, bonuses and incentive-based pay can provide an additional financial incentive for employees to work hard and achieve specific goals. Benefits such as health insurance, retirement plans, and paid time off also play a key role in employee retention. Image by freepic.diller on Freepik.

Benefits Package 36

Benefits Package Retirement Plan Health Insurance Employee Retention 36

Vantage Circle

AUGUST 16, 2021

Vantage Circle provides a customizable solution that allows employees to give their peers quick, easy and timely recognition. Retirement Plans. Who doesn't want to retire early? Offering retirement plans as a kind of employee incentive program is an attractive concept for all employees.

Employee Incentives 52

Employee Incentives Bonuses 401(k) Retirement Plan 52

Higginbotham

DECEMBER 30, 2021

You will need to gather information on the employee benefits and salary you’re currently offering. Retirement plans. When deciding between options, determine which changes would provide the greatest value to both your employees and your company. Do you need help with your employee compensation and benefits package?

Benefits Package 52

Benefits Package Disability Insurance Insurance Parental Leave 52

Insperity

FEBRUARY 15, 2018

When you’re overwhelmed with the day-to-day tasks of running a business, employee performance concerns may be overlooked and others may spend time and effort compensating for an underperforming team member. Your company has been fined or penalized for compliance violations.

401(k) 70

401(k) Professional Employer Organization Benefits Package Payroll 70

Qandle

SEPTEMBER 6, 2023

Running payroll refers to the process of calculating and distributing employee compensation, including wages, salaries, bonuses, and deductions, within an organization. Account for Benefits: Deduct employee contributions for benefits like health insurance, retirement plans, and other voluntary deductions.

Payroll Software 52

Payroll Software Payroll Software Gross Pay 52

Business Management Daily

JUNE 6, 2022

As in-house opinions regarding employee compensation practices vary, smart businesses spend time developing a compensation strategy as a vital component of their overall business strategy. This formal, strategic blueprint spells out the company’s compensation programs.

Salary 52

Salary Human Resources Retirement Plan Health Insurance 52

Vantage Circle

SEPTEMBER 16, 2021

ESOP plan (employee stock ownership plan) is a form of employee compensation that provides employees with an equity stake in the company. It is also referred to as an employee stock option plan (ESOP) or an employee stock purchase plan (ESPP). Meaning of ESOP.

401(k) 52

401(k) Employee Stock Option Profit Sharing Plan Taxes 52

Genesis HR Solutions

AUGUST 9, 2018

Insurance types: Medical, dental, vision, disability, and life insurance plans. Tax-preferred plans: Health flexible spending accounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. 401(k) and retirement plans. What percentage of total compensation is benefits?

Employee Benefits 40

Employee Benefits 401(k) Health Insurance Insurance Carriers 40

Business Management Daily

NOVEMBER 16, 2022

Income tax would have been withheld if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on a Form W-4, (Employee’s Withholding Allowance Certificate). A 1099 is a form used to report non- employee compensation. What is a 1099?

Taxes 52

Taxes Payroll Insurance Software 52

Vantage Circle

SEPTEMBER 26, 2021

A phantom stock, also known as “shadow stock” or “ghost shares”, gives employees the opportunity to share in the wealth and success of the company. Companies do this by providing employees with a stake in the company's stock as well as a retirement plan to ensure they have enough money later on in life.

Employee Stock Option 52

Employee Stock Option 401(k) Taxes Bonuses 52

Empuls

FEBRUARY 29, 2024

Emphasis on total rewards  The concept of compensation is evolving beyond just base salary to include a broader range of benefits, often called ‘total rewards.’ ’ This includes bonuses, health benefits, retirement plans, professional development opportunities, flexible work arrangements, and more.

Salary 40

Salary Media Engineering Software 40

Empuls

JULY 31, 2023

With the Bamboo Payroll integration, HR and finance teams can seamlessly manage employee compensation, deductions, tax calculations, and payroll reporting, all within the Bamboo HR platform. It streamlines the benefits enrollment process, automates data updates, and ensures accurate records.

Payroll 52

Payroll Electronics Software Payroll Manager 52