Family businesses will always be vital to the economic landscape. But because nearly every successful or growing family business also employs non-family workers, managing the operation is a balancing act that requires extra due diligence when it comes to fair and effective employee compensation prac...
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While employee compensation challenges seem to be ever-present, those challenges can become even more daunting in a tight labor market. And when unemployment is at historically low levels, employers feel pressure to keep employees satisfied with competitive base pay and attractive total rewards. Let...
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It may be no surprise that job seekers want essential information – including salary, benefits, and location – when they research job ads. What may be more surprising is that when assessing long-term potential with an organization, job seekers want transparency, too. I address these issues in my...
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With five different generations in the workforce, it can be challenging to understand and balance their diverse expectations when it comes to total rewards. These rewards include everything an employee values in the work relationship, including compensation, benefits, work/life balance, performance ...
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The realities of compensation for millennials can be surprising, simply because this group is newer to the workforce. Lacking years of deep “real world” experience, millennials might be surprised by many aspects of current compensation practices and standards in today’s workplace. With that in...
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Compensation satisfaction is extremely important to U.S. workers, but actual satisfaction in that category falls far short of the desire. This is according to a recent survey from the Society for Human Resource Management (SHRM). The 35 percentage-point gap regarding compensation was the largest not...
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Compensation communication can be a critical link toward improving employee morale, performance, overall satisfaction, and company loyalty – and yet it is often an afterthought. Let's take a look at how damaging poor compensation communication can be, and how to use it effectively to motivate and ...
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This article first appeared in Inside INdiana Business' "Perspectives" Benjamin Franklin once wrote that nothing is certain "except death and taxes." For modern-day corporate employers, however, compliance with the Fair Labor Standards Act's new overtime regulations is just as mandatory - and perha...
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If you want to stand apart from your competition as you seek to attract and retain top-quality employees, consider offering truly unique employee benefits. By customizing (and personalizing) your employee benefits mix, you can more responsively meet the needs of your workers while also generating bu...
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