Archive for the ‘Salary & Benefits’ Category

Tips for a Successful Salary Negotiation

Hiring a prospective employee usually goes through an arduous process of salary negotiations. It is understandable, of course, that the candidate wants to receive his or her salary according to his experience and skills, and at the same time the candidate does not want to provide an impression that he or she is asking for too much. These negotiations could either end up with the employer feeling excited to welcome the candidate or as if he lost a prospective employee who would contribute signifi…

How Profit-Sharing Plan Work

Employers provide a variety of benefits to their employees, ranging from free lunch to offering free training. There are also non-standard benefits that some companies give to their employees, privileges that are not mandated by law but can attract employee loyalty and promote a more efficient workforce. An example of these non-standard benefits is Profit Sharing, wherein the employer designates a percentage of annual profits as a pool of money that all employees-or a portion of the workforce, s…

Salary & Wage Resources

Occupational Employment and Wage Estimates United States Bureau of Labor Statistics Provides an entry point to data about national, regional, state, and local economies, including salary and compensation information. http://www.bls.gov/oes/oes_data.htmCompetitive Wages When deciding pay rates for skilled workers, it may be helpful to keep tabs on the going rates for your industry and area. The U.S. Department of Labor’s Bureau of Labor Statistics website maintains a comprehensive list of median …

Developing a Compensation Plan

This is usually the single largest component of a compensation package. Salary should be tied to a person’s skills and experience. Subsequent increases need to be based on an employee’s performance, value and contribution to an organization.Typically, companies perform annual performance evaluations. Each position should have its own discrete salary range which follows from the job evaluation. The range has a minimum, which is the lowest rate the company will pay an employee in the position; a j…

Employees Gift Ideas

Employees are considered as the real asset for the company. So it is important to motivate them from time to time and boost their morale. Ideally Christmas gifts for business employees and clients must be trendy and of premium quality. Gifts that have some utility value for the recipient will be appreciated more. Here are some gifts Ideas to inspire you:Internet is once again a reliable source for finding perfectly matched gifts. Local malls and specialty shops are also places to shop for gifts….