Compensation and Benefits
Compensation and benefits topics – whether it’s minimum wage, workers’ compensation laws, or employee pay – if properly handled, can help you retain workers and recruit new ones.
Use our advice to craft independent contractor agreements that keep independent contractors – and your bosses – happy.
The challenges facing HR pros who specialize in talent, compensation and benefits are dramatically different today than they were just a year ago. At Deloitte Consulting, we call it “the talent paradox”—the apparent contradiction that occurs when unemployment is still relatively high, yet companies still are seeing significant shortages in critical talent areas.
On the crucial question of whether a worker is an employee or an independent contractor, you had better answer correctly. Otherwise, expect scrutiny from the IRS, which monitors worker status to make sure Uncle Sam collects all taxes due. The IRS looks at three broad categories of information to decide whether someone is an employee or a contractor.
Q. Our company has employees stationed in locations outside the United States. A situation recently occurred that raised the question of whether U.S. employment laws apply to employees of American companies working outside the United States. Do they?
Orange County’s Laundry Room Clothing had a hard time making payroll during the depths of the Great Recession. Now the men’s fashion manufacturer must make amends big time to the employees it stiffed.
Employers will have to keep more records and regularly explain wage and pay details to their employees under a new law signed by Gov. David Paterson in December.
Employees who win Fair Labor Standards Act lawsuits over wage-and-hour violations can only collect damages based on concrete and real losses. They can’t collect emotional or punitive damages on top of other damages.
The Wage Theft Prevention Act, a law designed to end what workers’ rights advocates term “wage theft,” takes effect April 12, but the time to plan is now. The new law has teeth. It expands the New York Department of Labor’s enforcement powers, and as much as quadruples penalties on employers that violate the law.
The biggest trend in employee compensation is pay-for-performance. In many organizations, less employee pay is fixed; more is contingent on performance. In reality, too few managers do what’s necessary to make pay-for-performance work. Solution: Teach the employees to “manage the boss.”
HR Law 101: The Equal Pay Act of 1963 prohibits employers from paying different wages on the basis of gender for “equal work on jobs the performance of which requires equal skill, effort, and responsibility and which are performed under similar working conditions...” Female employees must also receive the same level of benefits as their male colleagues ...
Employers are emerging from the Great Recession with a different view of compensation and benefits. And, in most cases, that’s a good thing. Lessons learned in the lean years are being adapted and modified to make organizations stronger in this post-recession landscape. Look for these 11 trends to take a firm hold in 2011: