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Compensation & Benefits

Retirees more confident about retirement income than working-age Americans are

09/16/2024
Seventy-four percent of retired Americans say they have enough money to live comfortably. Those who haven’t yet retired aren’t nearly as confident. Only 45% of current workers believe they will have enough money socked away to retire comfortably.

Your employees are financially stressed—here’s how to help

09/13/2024
For the second year in a row, PNC Bank has published the results of its survey on financial wellness in the workplace. The report concludes that three in five workers report living paycheck to paycheck, a sign of financial distress, some of which is related to student loan debt, particularly for younger workers. Can employers help?

Blue-collar classification: Manual work isn’t exempt, even when paid on salary basis

09/12/2024
Sometimes, it’s difficult to make the exempt/nonexempt classification call. One thing that’s certain, however, is that paying on a salary basis does not convert nonexempt employees into exempt employees.

DOL investigators target restaurants, recover $2.25 million in just one week

09/09/2024
The Department of Labor’s crackdown on the restaurant industry continues. Over the course of just a week in late August, the DOL secured more than $2.25 million in back pay, damages and penalties from restaurateurs who cheated employees out of tips, failed to pay for overtime hours and illegally employed minors.

COBRA 101: Your obligations under the law

09/09/2024
Under the Consolidated Omnibus Budget Reconciliation Act of 1985, employers are required to continue offering health insurance benefits to workers and their covered dependents for a specified period after they terminate employment with the organization.

Golden handcuffs: Right or wrong answer to your retention issues?

09/04/2024
As an HR professional, you’re always looking for ways to attract and retain top talent. One strategy that’s been around for years is the use of “golden handcuffs,” or attractive financial incentives designed to keep valuable employees from leaving. But are these shiny restraints still an effective tool in today’s evolving workplace? Here are some pros and cons to help you make informed decisions for your organization.

Flexibility remains at the top of the employee wants list

09/04/2024
What do applicants want in an employer? According to a recent study, the answer is increasing flexibility. They want core hours with the ability to perform work anytime outside those hours, and the ability to work either on a hybrid schedule, from home or at a designated office during core hours only.

Harness payroll metrics to gain valuable data points

09/04/2024
Payroll is awash in data—taxes withheld, hours worked and overtime due are just three measurable items. You can use these metrics to identify trends, find patterns and project the future. Or you can stumble around in the dark, hoping things line up and coming up short on explanations when they don’t.

Legislative milestone: ERISA turns 50

09/03/2024
Among other things, ERISA requires sponsors of private employee benefit plans to provide participants and beneficiaries with adequate information regarding their plans. In addition, employer representatives who manage benefit plans must meet certain fiduciary standards of conduct.

Survey: Employer health-care costs to rise 8% in 2025

09/03/2024
U.S. employers project a median health-care cost increase of 8% for 2025, according to International Foundation of Employee Benefit Plans survey results. This is an increase over similar surveys conducted in 2022 and 2023, which projected a 7% rise in costs.