A compensation plan is designed to attract and retain employees. Build your compensation plan to ensure pay equity while balancing the needs of your small business and delivering value to customers. Pay competitively relative to companies similar to yours in size and industry in your region....
More than ever, as rising inflation chips away at disposable income, a pay raise can help plug the gap. The 2023 Social Security cost-of-living adjustment is 8.7%. When times are tough, some extra dollars can remind employees that management has not forgotten them. A raise versus...
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...
Donning and doffing is the practice of employees changing into (donning) and out of (doffing) work attire such as uniforms, protective gear or equipment. Employees who may have to don and doff during a shift include: Police officers. Nurses. Firefighters. Security guards. Welders. Drilling workers. ...
How important is salary? According to Ceridian's 2019 Pay Experience Report, "An employee's experience with pay directly impacts how they feel about working for a company. How compensation is set, and how easily an employee can access what they've earned, is more closely tied to...