Employee Benefits - Non-Standard - Retention Benefits - Perks
Advantages and Disadvantages of Flexible Work Schedules?
Flexible work schedules present advantages and disadvantages - to both the employee and the employer. But, they are definitely worth trying. Take a look at both sides of the equation.
Base salary is a fixed amount of money paid to an employee by an employer in return for work performed. Base salary does not include benefits, bonuses or any other potential compensation from an employer. Base salary is paid, most frequently, in a bi-weekly paycheck to an exempt or professional employee. In most years, an employeeâ€™s base...
Benefits - Comprehensive List
Employers provide a package of additions to the base salary to employees. These benefits can include health insurance, dental insurance, life insurance, disability insurance, a severance package, tuition assistance, and more. On average, organizations spend 41 cents for benefits for every dollar of payroll. That’s 29 percent of the total employee compensation package.
Benefits are part of a comprehensive compensation package offered by employers to attract and retain superior employees. Learn more about employee benefits.
A bonus is compensation over and above the amount of pay specified as a base salary or hourly rate of pay. The base amount of compensation is specified in the employee offer letter, in the employee personnel file, or in a contract. A bonus can be distributed randomly as the company can afford to pay a bonus, or the amount of the bonus can be...
Buyouts are a common method for reducing the number and cost of employees. In a buyout, the employer offers some employees or all employees the opportunity to receive a large severance package in return for leaving their employment.
Cafeteria Plan Gives Employees Choices About Their Benefits
Looking for a way to customize your benefits plan to the needs of your individual employees? A cafeteria plan is an employee benefits plan that allows your employees to choose among a variety of options to create a benefits plan that best meets their needs and those of their family. In a cafeteria plan, an employee receives a certain number of...
Compensatory Time (Comp Time)
Compensatory or comp time is time worked by an employee beyond their required number of work hours, often calculated at 40 for exempt employees. Comp time is calculated and recorded and employees expect some remuneration for the extra hours worked, most often paid as time off from work, or comp time which compensates for the extra hours worked...
Flexible Spending Accounts (FSAs) for Health Care
Would you like to understand how healthcare flexible spending accounts work? Here's how.
Getting the Best Benefit From Your Employee Benefits?
Is your employee benefits package giving you the payback you deserve in increased employee appreciation and satisfaction? Chances are, your employee benefits are not. Employees only understand and appreciate part of the employer's cost of the employee benefits they receive. Learn more about the types of employee benefits available.
The best benefit plans recognize that customization for the needs of your workforce may result in unusual benefits. In an interesting twist on benefits plans, a Japanese marketing company offers "heartache" leave to its six female employees.
A job share occurs when two employees cooperatively share the same job. There are advantages, disadvantages, challenges, and opportunities when employees job share. As an employer, a job share can benefit both the employee and you. Find out how.
Leave of Absence
A leave of absence is unpaid time off from work that covers an employee's time when unusual circumstances related to the employee’s life make concentrating on work impossible. Find out more about a leave of absence.
Perks are employee benefits, usually in addition to salary and standard employee benefits. The word, perk or perks, is a short form of the word perquisite which means incentives, bonuses, extras, or sweeteners. In use in business, the term perks has come to mean... Find out more about perks.
Are you familiar with profit sharing? It's an attractive component of a variable pay plan for employees. It shares the organization's success with employees. Find out more about profit sharing.
Promotion Is Often a Reward to an Employee for Work Contributions
The advancement of an employee from one position to another position that has a higher salary range, a higher level job title, and more job responsibility is called a promotion. Find out more about what a promotion is and how to obtain a promotion.
Restricted Stock Better Than Stock Options
Issuing restricted stock is a better motivating tool than granting stock options for two reasons. First, many employees don't understand stock options. They don't know that they have to take action to realize any gain. It is far easier for them to understand a vesting period on restricted stock.
Service Award Rewards Employee Longevity and Loyalty
Service awards allow you to recognize employees for their longevity. Learn more about rewarding loyalty.
A signing bonus is a lump sum of money that an employer provides a prospective employee. The purpose of the signing bonus is to entice the applicant to sign-on with the employer’s organization. The signing bonus is most often used with executive level positions or to recruit employees with special, hard-to-find skills. The signing bonus is also...
Stock Options FAQ
Everything you need to know about stock options is explained on the About.com management site.
Tuition assistance is an employer-provided employee benefit that is a win-win for your workplace. It encourages employees to continue to develop their skills. Find out more.
8 Uncommon Employee Benefits Your Staff Will Love
There are employee benefit solutions that will make your staff happy without breaking the bank. Administering an employee benefit plan is a complex undertaking. Your employee benefits plan can cover regular benefits such as health care, vacation time, sick pay, and pension plans. How common are these more unusual employee benefits?
Telecommuting or working from home is a flexible work arrangement that is seen as a desirable perk by employees. Learn more about telecommuting as it grows in popularity.