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Stepped-up enforcement and new government demands make it more likely than ever that companies will face an audit of their compensation practices by the federal government. And with only about 15% to 20% of companies that undergo some form of compensation audit emerging with a clean bill of...
A recent innovation in defined benefit (DB) plans is providing a new form of compensation to longterm employees. Although initially implemented in public sector pension plans, the ability of private sector pension plans to replicate this new form of deferred compensation could slow or even...
As open enrollment approaches, many plan administrators find themselves reviewing plan documents or, more likely, the summary plan descriptions that will be distributed to participants. Now is the time for plan administrators to look at welfare plans, including long-term disability plans, which...
In today’s tight labor market, businesses are finding they have to offer more creative packages that go beyond traditional compensation just to stay competitive. With unemployment at historically low levels, jobs are plentiful and employee turnover is a major concern for businesses of all...
A shortage of quality, entry-level construction employees has prompted Patio Enclosures, Inc., North America's largest producer of custom sunrooms, to establish an innovative Apprentice Program. The goal of the program is to attract, train, retain and reward men and women who want long-term,...
Recent federal government initiatives suggest that comparable worth is being resurrected as a major policy initiative. The Office of Federal Contract Compliance Programs has introduced the Equal Opportunity Survey, which requires government contractors to provide compensation data broken out by...
Compensation practices play a role in the perpetuation of the much reviled “used-car salesman” stereotype. This article explores the occupation that everybody loves to hate. In particular, it investigates the relationship between the design of automotive sales compensation and the types of...
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