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What are some example of fringe benefits that provide additional compensation to employees beyond wages?
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Does employer have offer the same benefits to all employees or can they offer different benefits to each employee?
In the USA, all employees in the same "category" have to be offered the same benefits. For example, in a large company, the 'Executives' can have a different compensation plan than the 'Regular' employees' out in the shop. But all the hourly employees whose jobs have essentially the same work content, would fall under the same compensation plan, even if their hourly wage was different. The key to categorizing employees is work content, not job title, or even pay rate.
What is the definition of compensation and benefits?
In Georgia, Workers' Compensation benefits on an accepted claim cover INCOME and MEDICAL benefits. Those are covered by the WC insurance company. The availablity of other employer offered benefits depends on the employer.
What is an example of an extrinsic reward from work?
Extrinsic rewards include monetary compensation, promotion, and tangible benefits.
How the manager to maintain the equilibrium between the needs of the organization and the needs of its employees?
In many ways the needs of an organization are the same as the needs of its employees. The ability to earn a profit as example is a need of the organization and helps fit the needs of employees to be paid properly. Thus profits and pay to employees are tied together. As an additional example, an organization needs to attract and retain employees to work in the organization. To do this, the organization must pay fairly and have good benefits to satisfy employee needs.
Do sole proprietors need workers compensation?
Check the state laws in where the sole proprietor is being operated. It changes from state to state. For example in California requires workers' compensation if there is one employee. But if it is a sole owner with no employees then the insurance is optional. In Alabama and Florida if you have four employees including the owner, then workers' compensation is a must. In Texas workers' compensation is not required at all, but the state does require the employer to post a sign stating that workers' compensation will not be provided.
the potential value of hiring more qualified employees at the cost of more expensive benefits is an example of what?
Trade-off
WHAT IS AN example of compensation for pain and suffering?
The most common example of compensation for pain and suffering is a cash payout.
Where do you enter workmen's compensation payments on a federal tax form?
Workers compensation that you receive for job-related sickness or injuries paid under a workers compensation act or statute isn't taxable. You don't report it on a tax return. But if you live in a state that requires employees to contribute, through withholdings from their wages, to certain state funds (such as disability, unemployment, etc.), then that amount is deductible as state income taxes on Schedule A. For example, Washington State has mandatory withholding from employees for the Washington State Supplemental Workmen's Compensation Fund.
What is included in incentive compensation plans?
In incentive compensation plans there are many things included such as rewarding employees for their hard work, such as hours spent at work or overtime. Rewards can be directly linked to phone usage, for example, and can include instantly redeemable rewards controlled by the employer.
How to Select the Job Benefits You'll Offer Employees?
If you want to find and retain the best quality workforce possible, there is one thing that you can't get around. The fact is that without a solid job benefits package, you won't be able to get the best and the brightest to work with you. If you do happen to find great employees, they'll likely be pulled away over time from other companies that offer better job benefits. However, just because you have to create a job benefits package to snare quality employees, it doesn't necessarily have to break your bank. The smart way to create a job benefits package is to stagger the options you give your employees. For example, employees that work above a certain amount of hours get a certain level of benefits.
What is an example of an employee benefit that is used to retain employees?
Life insurance and retirement options are another type of benefit many companies offer their employees. These types of benefits often encourage employees to remain with the same company because they do not want to cash in
What is formula to calculate annually salary to hourly salary for part time employees?
Estimate how many days an employee works, and how many hours per day; divide the anual salary by that. You may want to do some additional adjustments, for example due to the fact that an employee paid by the hour wouldn't get some of the additional benefits that your permanent staff gets, but that's the basic idea.
