Archive for the ‘Salary & Benefits’ Category

Big U.S Companies Considered Dropping Employee Health Care

Fortune magazine reported that many large companies are examining the possibility of dumping the health care coverage they provide to their employees in exchange for paying penalty fees to the government. This is in reaction to new health care laws that radically changed the subsidies, penalties, and taxes.Such a move would dismantle the employer-based health care system that existed in the United States since World War II, as the new laws would magnify the projected costs of health care. This i…

Should Job Ads Include Salary?

Have you noticed that job application advertisements only include the position, its responsibilities, and requirements, but leave out one crucial information: the salary? Many job seekers wonder whether the salary they would get from these jobs would either be below the industry rate or depend on how they negotiate their rates to prospective employers.But others think this should not be the case. Employees should know that the job they are applying for should be within their salary range, while …

All About Tuition Assistance

Organizations can provide various employee benefits beyond the usual salaries, health insurance, and vacation leaves among others.  If your company attracts young employees and are advancing their knowledge by taking up their masters, perhaps a little financial assistance could help them a lot, as well as boost your image as a good employer.The employer’s tuition assistance program pays for all or part of an employee’s cost to attend college or university classes.  Employers can also cover full …

Being Paid for Not Working

Part of working within an organization includes having to abide a set of rules to prevent you from being penalized.  However, you also need to know office rules that would be advantageous to you, especially when something happens and you did not attend to work.  As an employee, you actually have the right to be paid for time you do not spend working for your employer.  According to the Federal Law, you are entitled to earn a salary for the time you spend under your employer’s benefits or for you…

United States Laws on Overtime Pay

Some employees may have more than enough work that it forces them to stay in the office for more hours.  Under federal law, these excess hours (called overtime) should be paid by the employers.  The cost of providing overtime payment is half of an employee’s hourly rate.  This means that aside from the hourly rate a worker receives, half of the rate is added to determine the overtime pay for each employee. However, not every employee is eligible to receive overtime pay, as it would still depend …

Legalities of Paycheck Deductions

Some companies deduct cost from paychecks of their employers simply because they want the employees to shoulder the expenses they are supposed to utilize.  For instance, employers include a deduction on uniforms, cash shortages, tools, and others.  Is there a legal basis on this practice? Not all deductions are legalSome states in the U.S. do not allow companies to pass certain costs to their employers.  Meanwhile, states that allow employers to make these types of deductions are required to fol…

How to Prevent Vacation Downtime

In the United States, many employees tend to take vacation leaves during the summer period of July to August, as well as in the holiday season between November (Thanksgiving) and December (Christmas).  Although there should not be any problem about allowing employees to leave work and go on vacation for some time, the problem would arise once the business is left understaffed caused by vacation downtime.With lesser workers, even if it is for only a few days, your company may suffer significant l…

Paid Sick Days Policy

Employees do not always get to work everyday, mainly because they got sick.  That is why companies provide some time off for their sick employees, and even pay them in the process.What is paid sick days?Paid sick days is a type of employee benefit where an organization voluntarily provides its workers some time off from work yet they still get paid at a regular salary rate.  The number of paid sick days differs from every company.  Some organizations often accumulate the number of paid sick days…

Uncommon Employee Benefits

Providing employee benefits does not only have to end with paid vacations, pension plans, disability insurances, or any other advantage that would eat up a lot of your company’s budget.  Designing and administering an employee benefit plan can cover regular benefits like health care, sick pay, education reimbursement among others, but there are also attractive employee benefits that would not only keep your staff but also help recruit good employees.Direct bank depositProvide your staff with an …

Introduction to Variable Pay

You may have heard some companies that provide its workers with salaries depending on how they performed in the organization. Many employees are enticed by this benefit called “variable pay,” which is a type of employee compensation that changes in amount as compared to salary that is paid in equal proportions throughout the year. Variable pay is used by organizations generally to recognize and reward worker contributions that leads to productivity, profitability, team work, safety, quality, or …