Do You Know Your Employee Turnover Rate?

Do You Know Your Employee Turnover Rate?

April 15th, 2019 5:13 pm

Employee turnover rate is the percentage or number of employees who leave a company and are subsequently replaced. Industry experts put the cost of replacing an employee at somewhere between 50 percent and 60 percent of the departing employee’s salary. This can take a toll on your profit margin, which is why calculating and controlling […]

How to Manage a Cafeteria Plan

July 4th, 2018 12:51 pm

A cafeteria plan is a written employee benefits plan that meets the requirements of Section 125 of the Internal Revenue Code. Most commonly, cafeteria plans come in the form of premium-only plans and flexible spending arrangements. Cafeteria Plan Provisions With a premium-only plan, employees pay their premiums—such as for health, life, and disability insurance—with pretax dollars […]

What Is a Total Rewards Package?

June 5th, 2018 8:44 am

With millennials dominating the workforce and the next generation of workers gearing up to make their mark, employers are being forced to rethink their rewards and employee benefits strategy. They’ll need to consider a total rewards package. When we think “rewards,” compensation and benefits typically first come to mind—and with good reason. Research shows that […]

What Are Some Advantages of Lateral Moves?

February 3rd, 2018 1:12 pm

With the flattening of organizational layers,  there are now fewer options for growing by moving up. Conversely, clients now expect their first point of contact to handle a broader set of requests. New avenues for professional growth emerged from the need for a breadth of expertise. So what are the advantages of lateral moves? A strategic […]

How to Calculate Severance Pay

October 5th, 2017 11:50 am

There is no legal requirement to offer severance. Companies often provide it after an employee is terminated. In general, the amount is based on length of employment. You may decide to offer a week’s pay for every year of service, or a flat amount based on six weeks’ pay. Distribution is typically as a lump […]