article thumbnail

Why is Compensation Planning a Critical HR Process?

Zenefits

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?

article thumbnail

Offer Letter vs Employment Contract: 10 Key Differences

AIHR

Compensation : Outlining the salary, potential bonuses, benefits, and other perks or allowances. Compensation: Details on the salary, wage rate, benefits, bonuses, and any other compensation-related items. Employment type: Specifying whether the role is full-time, part-time, contract-based, temporary, etc.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What You Need to Know about 401(k) Plans and Cryptocurrency

Zenefits

When looking to differentiate their compensation packages and attract top talent, many HR managers and business owners are asking themselves a question that would have been laughed at 5 years ago: Should your 401(k) plan offer cryptocurrency investments? After all, crypto assets are known for instant gains and losses — not long-term holdings.

Assets 52
article thumbnail

Future-Proof Your Strategy: Capabilities Analysis

UVA Darden

Your capabilities as a business organization are the tangible and intangible assets or resources that you tap to create value. Similarly, the tool can help you determine certain assets or resources that are not so core to your strategy, which could therefore be outsourced to an external partner. . This installment follows Tool No.

article thumbnail

6 Common HR Challenges and How to Approach Them

Vantage Circle

They are the ones in charge of the most valuable asset in business; the workforce. This is one of the top priorities of a human resource specialist; compliance with government rules. Approach : To ensure this, all HR teams must continuously refer to the governing corporate rules in their respective country. Compensation.

article thumbnail

HR Compliance: A Practical Guide

AIHR

We’ll dive into four: Statutory compliance: This compliance is about implementing and adhering to government legislation around employment and the workplace. Data security This type of compliance refers to how companies and government agencies keep data protected, confidential, and safe from breaches. Company policies.

article thumbnail

Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

Employee benefits are the indirect and non-cash compensation paid to an employee. Employees are a company's most valuable asset. The health and well-being of our employees is a top priority because they are our company's greatest asset. These benefits are given to employees over their salaries and wages.