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14 Compensation Philosophy Examples [+ Free Template]

AIHR

In its simplest form, a compensation philosophy summarizes an organization’s guiding principles around employee salaries and benefits. The philosophy serves as a framework to ensure that compensation supports the organization’s business objectives and meets workforce needs (including base pay , variable compensation, and benefits).

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How to Become a Human Resources (HR) Manager: The Definitive Guide

AIHR

Compensation and benefits : HR managers oversee compensation and benefits programs, ensuring competitiveness in the market, managing payroll, and administering employee benefits packages. – Managed pay plan and benefits program to ensure competitive compensation and employee satisfaction.

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Where to Find an All-in-One California Workplace Safety Poster

Zenefits

They provide information about the rights and benefits of employees and break down these complicated topics in a way everyone can understand. Cal/OSHA’s enforcement and outreach led to a lower fatality rate than the national rate in 2018 (2.3 Simplify benefits administration. Simplify benefits administration.

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What You Need to Know about 401(k) Plans and Cryptocurrency

Zenefits

Since 2018, there has been a 237% increase in individuals owning Bitcoin. For those who manage employee benefits , it’s important to know that the primary benefit of adding cryptocurrency into a 401(k) plan is also its downfall: its high volatility. For example, in 2017 and 2018, Bitcoin lost 80% of its value.

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What You Need to Know About the Illinois Secure Choice Act

Zenefits

Today, individuals can no longer be sure that they will be able to receive Social Security benefits or be provided a pension by their employer. Since launching in 2018, the program has been open to employees who work for an eligible employer as well as individuals who want to enroll on their own and start saving. As employee elects.

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Achieving Transparency in the Workplace: Strategies for Success (With Examples)

AIHR

According to a 2018 Slack research , 87% of workers wanted their future company to be transparent. Ensures compliance with legislation: An example of this can be found in the Illinois Workplace Transparency Act. Facilitates change management: During times of change, transparency can help reduce employee resistance and fear.

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Paying Employees with Cryptocurrency: The Pros and Cons

Zenefits

When he realized it in 2018, the roughly 700 Bitcoins he got were worth millions. But, in general, here are some pros and cons to consider: What are the benefits of paying employees with cryptocurrency? Compliance risk. If that happens, you could end up scrambling for compliance at the last minute. Automate payroll.