On August 12, Congress passed the Inflation Reduction Act, over 700 pages of economic changes. What does the act do? And just as important, what does it not do? To start with the name, the act's proponents say the new law will fight inflation with deficit reductions —...
As a way of promoting equal pay in the workplace, both state and local governments are starting to enact laws pertaining to pay equity. However, in recent years, pay equity has evolved to take on a new meaning. In certain jurisdictions, pay equity is not...
Health savings accounts are paired with high-deductible health plans for an especially adaptable insurance and savings program. HDHPs have large deductibles that members must meet before receiving coverage. Participants meet those deductibles by contributing their own money to HSAs. The government does not tax these...
Orientation formally introduces the new hire to the company — including its mission, culture, values, vision, policies, procedures and fringe benefits. Training equips the new hire with the knowledge he or she needs to perform the job satisfactorily. Should the new hire be paid for time...
If your payroll provider handles your payroll-processing responsibilities, you might not see the need to learn the ins and outs of calculating net pay. But imagine an employee seeking clarification on his or her take-home pay — do you know all the details? It's important to...
Many small-business owners are under the false impression that simply setting a pay rate is all that's required in terms of employee compensation. If only it were that easy, though. The term "compensation" may sound like a simple work-for-pay arrangement, but there's actually quite a...
With millennials dominating the workforce and the next generation of workers gearing up to make their mark, employers are being forced to rethink their rewards strategy. When employers think “rewards,” compensation and benefits typically first come to mind—and with good reason. Research shows that compensation is...
Payroll is a core feature of all businesses, and it is very important as it heavily impacts the morale of employees. After all, if employees aren't paid appropriately for their work, you can expect them to leave. Payroll also impacts a number of business processes, including...
Question: Are we required to pay summer interns? Answer: It depends on whether the worker is considered an employee. The U.S. Department of Labor (DOL) has adopted the primary beneficiary test to determine whether a worker is an employee or an intern. If the worker primarily benefits...
Is your state’s minimum wage increasing? We’ve organized the latest minimum wage updates, effective July 1, below alphabetically by state so you can scan the list and see if you need to update your payroll! California: Alameda: $15.75 Berkeley:$16.99 Emeryville: $17.68 Fremont: $16.00 Foster City:...