Remove Life Insurance Remove Overtime Remove Retirement Plan
article thumbnail

The New #FLSA Overtime Changes: Make Sure Company Policies Are Aligned

HR Bartender

Department of Labor with changes to the overtime provision of the Fair Labor Standards Act (FLSA). They’re also having internal discussions about how to manage overtime pay and payroll expenses. Exploring the Overtime Policy Piece. Auditing your policies surrounding the issue at hand – overtime – could be a good start.

Overtime 100
article thumbnail

Importance of Employee Benefit Package And Why it Matters

HR Digest

To drive company’s success, benchmark and budget a benefit plan that attracts the skilled employees, is needed to keep the employees performing at their best. Overtime pay 3. Health insurance Those benefits provide a baseline of employee expectations. Health insurance 2. Pension or retirement savings plan 3.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How to set up a payroll process: 10 steps

Insperity

Understanding the difference means knowing how to report income, withhold and pay taxes, and handle overtime for each group. These are salaried employees who are not eligible for overtime compensation. This includes hourly employees who qualify for overtime compensation. Plan how you’ll track hours worked and time off.

Payroll 104
article thumbnail

What is a PEO?

Insperity

Typically, with PEO-sponsored benefit plans, your employees will have access to a wider variety of benefits than your company could obtain on its own. In addition, your PEO can provide guidance on compliance related to the Patient Protection and Affordable Care Act to help you avoid costly penalties. A PEO does NOT. Control your business.

Payroll 98
article thumbnail

How to Keep Staff Happy (and Reduce Turnover) 

Hppy

Work-life balance is all about giving your employees control over their free time. If work hours are between 9 AM to 5 PM, they shouldn’t be required to do more unless they’re being paid overtime. However, it isn’t all about insurance. Staying after work hours shouldn’t be encouraged either verbally or through benefits.

article thumbnail

Designing an Effective Total Compensation Report: Sample Templates and Tips

COMPackage

Key Components of a Total Compensation Report A Total Compensation Report (TCR) should provide a clear and concise overview of an employee’s compensation package, including: Direct Pay: This includes the employee’s base salary or wages, as well as any bonuses, commissions, or overtime pay.

401(k) 40
article thumbnail

Total Compensation Statement Template: Attracting and Retaining Top Talent

COMPackage

Base Salary: State the employee’s base salary, including any applicable overtime or shift differential. This may include: Hourly workers: For hourly workers, the template should clearly indicate the hourly wage and any overtime or shift differential.

401(k) 40