Zenefits

FEBRUARY 7, 2023

To provide employees with fair and desirable compensation, savvy companies routinely conduct a compensation analysis. By identifying the right compensation strategy, you can establish a competitive pay structure to help attract and retain talent. What is compensation analysis? Why is compensation analysis important?

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Zenefits

JANUARY 23, 2019

In “The City by the Bay,” a small business account manager makes $65,000 per year compared to an account manager in Peoria, Illinois with the same level of experience who makes $52,500 (this is accurate salary data, taken from the Zenefits compensation management tool ). What Can Employers Learn from Salary Benchmarks?

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Hiring Software Zenefits Benchmarking Compensation 53

Zenefits

JUNE 29, 2021

Benchmark benefits. To obtain granular information based on your industry and location, you’ll need a customized benchmarking report. Customized benefits benchmarking can deliver insight into employer trends for: Healthcare and welfare plans. Financial and compensation benefits. Bureau of Labor Statistics (BLS).

Employee Benefits 68

Employee Benefits Hiring Software Planning Tools Onboarding Software 68

Peoplebox

JULY 18, 2024

Overtime calculations: To comply with labor laws and ensure accurate compensation, automation tools precisely calculate overtime hours based on established rules. Automating performance tracking saves time and effort, eliminates bias, allows for more precise decision-making, and gives managers and staff a solid benchmark to work from.

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Zenefits

JANUARY 16, 2019

For employers, compensation comparison can feel a bit intimidating. Let’s take a look at some best practices for compensation comparison and determining compensation for employees. In this article, we’re going to discuss 5 best practices for compensation comparison and salary determination. Set a pay range. Stay flexible.

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Zenefits

JULY 28, 2021

Assuring staff is compensated fairly, aligned with skills, experience, and market conditions, and that payroll drives your strategic plan forward is critical to business success. For many organizations, compensation is an afterthought. What is a certified compensation professional? . Coursework includes: Job analysis.

Compensation 41

Compensation HR Planning Bonuses and Incentives Hiring Software 41

Zenefits

FEBRUARY 7, 2023

HR professionals and hiring managers often walk a fine line when it comes to employee compensation issues. If you are involved in the hiring process, you’ve probably already faced challenges with compensation structure and pay levels for existing and new hires. That means employers could face compensation challenges.

Compensation 36

Compensation Hiring Software HR Planning Bonuses and Incentives 36

Zenefits

SEPTEMBER 21, 2020

When thinking through a new employee’s compensation package , it’s important to remember that hiring someone will cost you more than their base salary, as compensation includes the cost of their benefits as well. Taken together, the average total compensation is $37.73 Taken together, the average total compensation is $52.45

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Zenefits

JULY 24, 2022

With such a large expense account for employee compensation , a solid compensation strategy is a no-brainer. Proper compensation planning is essential to ensuring you are rewarding the right people for the right input. What are vital considerations in compensation planning? Why is compensation planning critical for HR?

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Zenefits

JANUARY 14, 2022

As stated in a Zenefits report , “Managers waste 140 hours a year manually creating schedules for their employees.”. For example, Zenefits scheduling tool lets you: Create and edit shifts for all employees. For instance, Zenefits time tracking tool offers the following: Time tracking for employees, freelancers, and contractors.

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Zenefits

JUNE 15, 2017

As recruiters take note, they’re heavily promoting forms of non-traditional compensation and noteworthy perks to attract top talent. As confidence among employees skyrockets, so too does the pressure on businesses to start thinking far outside the compensation box. Turns out, it’s not a one-size-fits-all answer.

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Zenefits

APRIL 12, 2017

. #4 – You’re scrimping on benefits and compensation packages. Try making your compensation package robust and attractive by adding cool perks or being extra generous with your benefits such as free lunch Friday or doubling the number of vacation days. Quality employees are not only hard to find, they are also expensive to hire.

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Hiring Software Hiring Background screening Zenefits 40

Zenefits

APRIL 10, 2018

In light of National Equal Pay Day, Zenefits examined data from over 1,000 employees and owners of Small and Mid-Sized Businesses (SMBs), defined as having 11-500 employees. An overwhelming majority of employers believe their employees are satisfied with the company efforts at compensation, hiring, development, diversity, and culture.

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Zenefits

FEBRUARY 21, 2019

Without a compensation management tool, determining the answer to that question can be difficult. In any case, if you manage people, you want to pay them fairly, and that means that you need to employ good compensation management practices. One of the best places to start is with salary benchmarking.

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Zenefits

DECEMBER 22, 2021

When people are looking for their next career move, compensation is a top consideration. Being transparent about compensation will eliminate any suspicions that they’re being underpaid (a common assumption when pay is kept a secret ). In this article, we cover: What it means to have fair and equitable compensation.

Bonuses and Incentives 36

Bonuses and Incentives Hiring Software Planning Tools How To 36

Zenefits

DECEMBER 29, 2021

As the workforce moves towards more freelance, contract, and part-time engagements, companies need to make sure they are compensating their employees in a way that meets today’s work style. Creating a compensation philosophy that aligns with your company strategy is one way to strengthen hiring and retention.

Payscale 36

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Zenefits

APRIL 8, 2020

Compensation for quarantined employees. Compensation for non-quarantined employees. Compensation for nonexempt employees. Compensation for exempt employees. According to the Bloomberg Tax 2019 Payroll Benchmarks Survey Report , the most popular outsourced functions are: Tax filing. Workers’ compensation management.

Payroll 36

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Zenefits

JUNE 1, 2017

These are benefits that employees want and consider as a part of their compensation package. In fact, while most insurers require employers to pay at least 50 percent of the health insurance premium for employees, small businesses actually contribute more than the minimum, according to a 2017 research report from Zenefits.

Competencies 39

Competencies Hiring Software 10KC Talent Experience 39

Zenefits

JUNE 4, 2020

This has employers and workers are wondering what this means for the future of remote workforce compensation. Managing compensation is always a balancing act. Online data sets offer benchmarks for every position and industry, but setting a single amount isn’t enough. But maybe they shouldn’t have to take pay reductions.

Compensation 56

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Zenefits

FEBRUARY 7, 2019

Type of work is important, compensation is important, and more employees are recently proving that a flexible work arrangements policy is important, too. Discover more small business benchmarks, data, and working remotely best practices in the Flexible Work Arrangements Benchmark Survey ].

Hiring Software 40

Hiring Software Hiring Benchmarking Zenefits 40

Vantage Circle

SEPTEMBER 11, 2023

5 Source Features Health, dental, and vision insurance Life and disability insurance 401(k) retirement plans Health savings accounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance. Pic Credit Criteria Ease of Use Features Customer Support Pricing Ratings 4.6/5

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HR Software Planning Tools Onboarding Software Hiring Software 52

Zenefits

MAY 6, 2019

It’s possible they’re not being 100% honest about their former compensation – and with many companies avoiding reference checking – you may not be able to verify. Compensation management tools help you hire without salary history. Compensation management tools help you hire without salary history.

Hiring Software 37

Hiring Software Background screening Hiring Recruiting Software 37

Zenefits

OCTOBER 28, 2021

Businesses consistently create new benchmarks to grow and improve when it comes to their bottom line, but they should devote the same care when it comes to a company’s performance management goals as well. Is employee morale up but no real strides are being made toward company benchmarks? Focusing on employee satisfaction.

Performance Management 36

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Zenefits

MAY 9, 2019

Internal job descriptions + external job data = salary benchmarking. If the goal of your business is to promote a happy and engaged workforce, salary benchmarking is an excellent tool to make sure your workers are being paid fairly.

Company 28

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Zenefits

MARCH 19, 2019

Many organizations tie their contributions to specific goals, and when employees meet these benchmarks they are rewarded by increases in their 401k contribution. However, if you’re considered a highly compensated employee (or HCE) your minimum compensation increased to $125,000 this year. appeared first on Zenefits Blog.

Retirement 31

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Zenefits

JANUARY 13, 2022

Are you compensated fairly for your role in your organization? At the end of your survey period, an HR professional wants to have both a firm score to use a benchmark, and a list of potential improvement areas to work on. Do you feel like your workplace is inclusive and diverse? Are you satisfied with your current role?

Employee Engagement 69

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Zenefits

JUNE 13, 2022

For example, highly compensated workers may pay a larger portion of the cost of premiums. It’s much better to do competitive benchmarking in your industry and location. A good place to start is with the Zenefits Benefits Benchmark Report. Other companies are adding surcharges for smokers. Username or Email Address.

Planning Tools 36

Planning Tools Onboarding Software Payroll Benchmarking 36

Zenefits

JANUARY 24, 2019

Want to Get More Granular Compensation Data? To get more specific about the costs of particular roles, and account for things like experience levels or specific job titles, businesses use compensation benchmarking tools to forecast budget or workforce needs. Alexandria, Louisiana. Average salary: $37,965. Multiplier: 75.

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Hiring Software Zenefits Benchmarking Compensation 31

Zenefits

FEBRUARY 24, 2022

A typical benefits plan includes both the employee’s compensation and non-wage perks like health insurance and pension plans. Benefits and incentive bonuses are all part of the compensation package your HR department offers employees. Read the Zenefits Benefits Benchmark Report for more great data, trends, and insights.

Employee Benefits 36

Employee Benefits Bonuses and Incentives Wage and Hour Training Planning Tools 36

Zenefits

MAY 29, 2022

You can use a benchmarking tool like Zenefits which offers real-world salaries to better understand your company’s wages. That doesn’t mean you have to miss out on talent, because work is no longer about compensation. Not factoring inflation into employee compensation?

Onboarding Software 41

Onboarding Software Compensation HR Software Payroll 41

Zenefits

JANUARY 31, 2022

It’s how you’re able to compensate employees correctly and on time — which affects employee morale and retention. Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. We recommend using industry benchmarks. This process is called compensation benchmarking.

Payroll 36

Payroll Hiring Software Wage and Hour Training HR Software 36

Zenefits

JULY 31, 2018

However, they often include health care coverage for full-time employees, workers’ compensation coverage, and paying a portion of social security coverage and Medicare coverage. Download our Benefits Benchmarking report to get the full scoop. Here are the Most Popular Employee Benefits in the Biz appeared first on Zenefits Blog.

Employee Benefits 28

Employee Benefits Zenefits Comparison Benchmarking 28

Zenefits

SEPTEMBER 8, 2021

There are many factors that impact employee hiring and retention: compensation, benefits, a trendy office … but what employers sometimes overlook is offering a positive, holistic employee experience. To keep a business running successfully, employers need to attract and retain talent.

Talent Experience 41

Talent Experience 10KC HR Planning Hiring Software 41

Zenefits

MARCH 21, 2019

an hour and covers most workers, and overtime (OT) compensation of 1.5 Those earning more than $100,000 per year, or highly compensated workers, are likely exempt. On an annual basis, the benchmark would be increased to $147,414 per year, from $100,000 currently. Concern about U.S.

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Wage and Hour Training Hiring Software Bonuses and Incentives Compensation 28

Zenefits

JUNE 29, 2022

But a large IT firm that handles sensitive data will likely need cyber insurance, worker’s compensation, and professional liability insurance, among other options. For example, most states currently require businesses to purchase Worker’s Compensation Insurance. Worker’s Compensation. Cyber Liability Insurance.

Onboarding Software 36

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Zenefits

JUNE 28, 2022

on wages or compensation for high earners. Online brokers can no longer give qualified health plan advertisements and preferred website placements in exchange for compensation. Benefits Benchmarks Report. This minimum value calculator can help you determine whether your plan meets this threshold. No more preferred advertising.

Compliance 41

Compliance Planning Tools Hiring Software Onboarding Software 41

Zenefits

JUNE 7, 2021

It does not include any additional compensation, only base pay. Most states require employers to carry workers’ compensation insurance. Generally though, the recommended benchmark is 20%-30%. The key is to not overspend or underspend on payroll — and a payroll budget is essential to achieving this objective. Employee benefits.

Payroll 41

Payroll Bonuses and Incentives Assessment Software Planning Tools 41