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Employee benevolence programs: What are they, and why do they matter?

Insperity

Ideally, you would have plans, processes and support structures in place to minimize any workplace disruptions. an economic downturn, supply chain issues, etc.) and draft business continuity plans for a variety of these scenarios. Finance the fund. Most businesses prepare for operational stressors (e.g.,

Supplies 289
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Pay compression: What it is and how to fight it

Insperity

If money is tight, there are options (see “Encourage collaboration between HR and finance staff” section below). External labor factors that may impact your internal compensation plan include: Minimum wage laws A tight skilled worker supply Rapidly escalating wages for high-demand jobs. Maintain best practices.

Salary 213
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How to tackle wage growth and remain competitive in a tough market

Insperity

It has to do with supply and demand, and can be industry and role specific. Here are a few simple steps to get started creating a compensation strategy: Assess your current pay practices, including base pay along with any bonuses or incentive plans. Create a variable pay plan in writing. This plan should be: Adaptable.

Salary 308
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How to Spot Employee Theft and What You Can Do About It

Insperity

Employee theft is on the rise – it runs the gamut from stealing office supplies and padding time to committing fraud. One of the biggest mistakes small business owners make is putting one person in charge of the finances. missing merchandise or supplies. But not always. Many times theft can occur out of opportunity.

Supplies 203
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How to tackle wage growth and remain competitive in a tough market

Insperity

It has to do with supply and demand, and can be industry and role specific. Here are a few simple steps to get started creating a compensation strategy: Assess your current pay practices, including base pay along with any bonuses or incentive plans. Create a variable pay plan in writing. This plan should be: Adaptable.

Salary 251
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2023 Financial Forecast: How to Prepare for the Year Ahead

Success

And with a new year approaching quickly, it can be a good opportunity to take stock of what’s happened in the past year—in your personal life, career and with your finances—and think about what changes you’d like to make in the year ahead. As you think about your personal finances heading into 2023, credit card debt should be top of mind.

Finance 122
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Overcoming seasonal impacts on employee motivation

Insperity

Employees with young children may be trying to figure out summer camps, childcare routines and financing. Advance planning can help, of course. September’s golden light calls to mind new school supplies and fresh starts. Summer also tends to be a time of weddings. Ah, Autumn. Autumn Issues.