For many employees, generous benefits are more important than pay raises. There are several benefits options you can offer to attract and retain employees, including deferred compensation plans.
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Compensation - Tips, Training, and News
What Is Severance Pay?
At some point, you might have to terminate an employee. You might eliminate their position, make layoffs, fire for misconduct, or mutually part ways. No matter the reason, you might consider giving the employee severance pay. But what is severance pay? Before you make a decision about severance pay, learn more about it, what you […]
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Commission Employees and Overtime Rules
To protect employee rights, the Fair Labor Standards Act (FLSA) regulates overtime. But, some employees are exempt from receiving overtime pay. If you offer commission pay to employees, you might be wondering if they are exempt from overtime. What are your responsibilities when it comes to commission employees and overtime?
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What Is Piecework Pay?
There are various methods to compensate employees, including hourly, salary, and commission pay. But, are you familiar with piecework pay? Learn more about what is piecework, piecework laws to follow, and how to calculate piecework pay.
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Are You Correctly Calculating Overtime for Tipped Employees?
One major blunder small business owners make is not paying their tipped employees the correct wages. And when it comes to you paying tipped employees overtime, things can get a little more complicated. So, are you using the correct overtime rate for your employees who receive tips? Read on to learn the right way to […]
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3 Types of Salary Structure You Should Know
If you’re a fan of organization, consider adding structure to how you determine salaries and raises. Learn about the different types of salary structure you can use in your small business.
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What Is Bonus Pay?
When you first start your business and hire employees, you might be worried about how you’ll make payroll each pay period. But once your business is firmly planted, you might be able to give more money to your employees. One thing you might want to offer employees is bonus pay.
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What Does Direct Compensation Include?
As an employer, you may give employees several types of compensation, including direct compensation. So, what’s direct compensation? And, what are the different types?
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How to Gross up Payroll
If you want to pay an employee supplemental compensation, such as a bonus or a relocation payment, you must withhold payroll taxes just like with regular wages. But, what if you want an employee to receive a specific amount after taxes? That is when you gross-up payroll figures. And to do that, you need to […]
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What Is a Cost of Living Raise?
Employees love raises. Regular raises can improve employee happiness and put them in a better financial position. And, raises can reduce your employee turnover. You can give raises for merit or increasing job value. You might also give a cost of living raise.
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