article thumbnail

Structuring Competitive Compensation Packages for UAE Talent

Bayzat

Attracting the best talent and holding onto the existing top performers means the company will need to have an attractive compensation package within its staff retention and hiring plan. Falling out of touch with what makes a strong employee compensation package may mean your company is losing its competitive edge.

Salary 52
article thumbnail

IRS Announces 2023 Increases to Qualified Retirement Plan Limits

Proskauer's Employee Benefits & Executive Compensa

Earlier last week, the IRS announced the 2023 inflation adjustments for Flexible Spending Accounts and transportation fringe benefits, as discussed here. Annual Participant Compensation Limit. Highly Compensated Employee Threshold. Key Employee Compensation Threshold for Top Heavy Testing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Minimum Wage in 2020: Increases by State

Best Money Moves

Department of Transportation, that Walmart exercised control over. Starbucks recently agreed to pay $176,000 over sick leave violations. Walmart was just ordered to pay $54.6 million to truck drivers who sought back pay for time spent in layover, a mandatory break required by the U.S.

article thumbnail

Total compensation package examples

Higginbotham

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
article thumbnail

Creating a Salary Structure for UAE Businesses

Bayzat

Complying with labor laws allows for fair employee compensation, prevents labor disputes, and improves the employer’s reputation and brand. Benchmarking and Market Research When companies in the UAE want to ensure fair payment among employees, they consider companies’ “fair compensation”.

Salary 52
article thumbnail

11 Benefits to Consider Including in Your Employee Total Compensation Statements

COMPackage

Access to Company Vehicles A company car/truck gives employees a professional image. Moreover, the vehicle enhances the employee’s productivity, thanks to the availability of a reliable means of transport. Aflac supplemental insurance) should highlight these.

401(k) 52
article thumbnail

5 Benefits for Using Modern Payroll Software in UAE

Bayzat

2- Defining Payroll Systems At the heart of financial management lies Payroll Systems, which is dedicated to the accurate calculation and timely disbursement of employee compensation. Throw in benefits such as housing, transport, and insurance, staying true to the employment contract and UAE laws and regulations.