Competitive compensation planning for business executives is essential for any company that wants to attract and retain top talent. A well-designed compensation package can be the key to retaining your best executives and ensuring that they remain motivated to drive...
What Does the Federal Wage Increase Mean for You? Due to two separate Executive Orders (Obama-EO 13658 and Biden-EO 14026) minimum wage for federal employees will be on the rise in 2022. When these changes take effect: January 1, 2022: Minimum wage for federal...
3 Reasons Compensation Planning is a Must Do you know if your compensation package is competitive in today’s market? Compensation planning provides benchmarks and industry standards to help you make the best decision for your business. It is important to reevaluate...
When was the last time you updated your company’s compensation plan? If you can’t remember, then it has been too long! We recommend updating your compensation plan every 18 – 24 months. If you’re in that range, updating your compensation plan could be one of the most...
You’ve probably heard of the proposed changes regarding white collar exemptions by now. And, as a business owner, you’ve probably exhibited some signs of mild panic: Do I have to make the changes now? Are they for certain? When will the changes take effect? We’ve...
Since we are Louisvillians, one of the questions we’ve been getting a lot is about the changes in state & local minimum wage. Kentucky business owners wonder: do I have to raise my employees’ wages? To what amount? And by when? A: It depends on your location and...
Direct deposit: it seems simple enough. Employers pay employees by transferring money directly to the employees’ bank accounts. It’s convenient for small business owners, who save check printing costs and bank check processing fees, and employees have access to the...
Exempt or Non-Exempt? That is the Question. Okay okay. Sorry to go all Shakespeare on you, but sometimes we have to spice up compensation topics to get your attention. Back to matters more important. Compensation is not just a word we throw around to make us look...
While the purpose of any company is ultimately to make as much profit as possible, the employees play a significant role in the possibility of improving income. Obtaining the best employees and maintaining loyalty sometimes requires making changes to the compensation...
Could You Go To Jail Over Your Pay Practices? The Secrets to Successful Salary & Benefits Practices When is the last time you really thought about the compensation philosophy in your organization? Six months? A year? Two years? YIKES! There are laws that govern...
More and more studies are showing the significance of rising health care costs in this country. Many employers are reacting by revising their insurance and benefit offerings to reflect this trend to compensate for increased costs. How will these possible benefit...
Shhh. Do you hear that? No, it's not sleigh bells. It's the sound of coffee brewing and numbers crunching late into the evening hours of corporate America. Yep, it’s that time of year when organizations are finalizing their compensation plans and budgeting for salary...
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