Employees who want to set aside more money for retirement in 2025 will be able to do so. The IRS recently announced retirement plan increases, putting your year-end prep in high gear. The 401(k) plan salary deferral limit will inch…
Compensation
The amounts you can exclude from an employee’s gross income for certain fringe benefits will increase for 2025, IRS announced. As you know, fringe benefits are generally subject to income tax withholding as well as Social Security and Medicare taxes,…
When an employee goes on leave under the Family and Medical Leave Act (FMLA), it can pay to double-check that your recordkeeping processes are up to snuff, in case your administration processes are ever called into question. Employment law attorneys…
No one has put a brighter spotlight on pay disparity than Caitlin Clark. If you don't know who that is -- and how she's dominated headlines on everything from college basketball and teamwork to community impact and pay disparity --…
After years of paltry wage increases that barely keep pace with inflation, it looks like employees would be willing to take some crazy sacrifices for a 10% raise. Just how much would workers be willing to give up for a…
Ever wonder about all the ins and outs of severance pay? If the answer is yes, you’re in the right place. What exactly is severance pay? When – if ever – are employees entitled to it? What’s included in a…
Despite higher-than-average pay increases in 2023 and budgeted for 2024, many employees are dissatisfied and want more for their work. That's the upshot from Payscale’s 15th annual report on compensation and benefits. HR’s challenges and priorities in 2024 Top 5…
Employees shouldn't be holding their breath for bonuses this year, based on new research from payroll platform Gusto. After a tumultuous year filled with layoffs and return-to-work wars, the end of 2023 saw a decline in bonuses across industries, the…
Heads up, HR: The standard mileage rate for business use is getting a slight bump in 2024, the IRS recently announced. The Service bases the standard mileage rate for business use on an annual study of the fixed and variable…
Annual raises can be an important piece of the retention puzzle, but new research from BambooHR shows that raises are happening less often and, when they do happen, they’re a quarter smaller. In a world where the cost of living…
Nearly everything is on-demand now. So why shouldn't there be on-demand pay? Consider this: Remember what it was like to wait for a movie to run its course at the theater so you could rent it? And by rent it,…
As we enter the second half of 2023, it’s time for many to begin planning salary budgets and other considerations for 2024. Economic uncertainty and labor shortages that have plagued the last few years have left employers scrambling to stay…
When done right, summer hiring can have benefits for everyone: employers, year-round employees and seasonal hires. But done wrong, summer hiring can create a disconnected workforce and even lead to legal trouble. As employers scramble to hire for a busy…
As workers and businesses alike grapple with economic downturn and labor market woes, compensation and benefits has become a lifeline for employers to both attract and retain top talent. For employees, a solid compensation and benefits package can help them…
As pay transparency continues to rise in popularity – even for states without legislation in place – HR is forced to adapt to new processes and procedures related to pay transparency. Since widespread pay transparency is still in its early…
Pay transparency laws, which started gaining steam last year, are becoming more and more commonplace as companies try to keep up with a tight labor market and attract top candidates. As little as a few years ago, it was somewhat…