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Why Your Organization Should Use Salary Benchmarking

Harvard Business Review

A key solution lies in salary benchmarking — using aggregated market data to establish competitive pay rates. payroll processing company revealed that access to robust benchmarking tools doubled the probability of firms setting the “right” salary. Recent research in collaboration with a leading U.S.

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Affordable Care Act Requirements for 2022-2023

Zenefits

It is always important to review your state’s regulations and ensure there is not a special enrollment period before creating your compliance deadline calendar. Compliance reviews. Beginning in 2023, CMS will review all qualified health plans (QHP) for compliance with network adequacy standards in order to improve accessibility.

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

Zenefits

However, world governments and financial regulators consider crypto to be a digital asset, not a real currency. Buyers can get “safe” government bonds for 1 or 2%. To assist fiduciary planners and organizations, the organization released compliance assistance when dealing with cryptocurrency. Unclear regulation. Remember Me.

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Human Capital Management (HCM) Software For Enterprises In 2022 & Beyond

Walk Me

Software managers can add and monitor specific goals and record the employee’s benchmarks to show their progress. Compliance. Compliance support. Set benchmarks for employee performance. Many benchmarking tools calculate the cost, time, and resources to establish staff guidelines for processes within various roles.

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What Is Compensation Management and What’s HR’s Role in it?

AIHR

Issue paychecks to employees • Create the payroll records required by the government. When it comes to compensation metrics , accurate data is essential for benchmarking the competitiveness of your packages. Get your research from legitimate sources such as surveys, consultants, or government reports to make informed decisions.

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Why is Compensation Planning a Critical HR Process?

Zenefits

Government regulations on employee compensation and welfare. Conduct a market analysis to benchmark salaries. Reviews of the cost of living where employees are based. Evaluations of the job market’s competitiveness. Surveys of employees’ attitudes and opinions on compensation. Why is compensation planning critical for HR?

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How To Become a Recruiter: A 9-Step Practical Guide

AIHR

Also, the highest-paying industries for recruiters are technology, finance, manufacturing, healthcare, and government. Ensure legal compliance and employee protection: HR certificate programs provide up-to-date information on employment laws, regulations, and best practices.