Help Employees Escape Financial Dire Straits (and Improve Your Bottom Line)
August 25, 2008—When employees are worried about money, they're less productive, less healthy, and distracted, explains Louis Falzetti, who works with Dave Ramsey of radio and TV fame, as executive vice president at the Ramsey organization. Falzetti says that financial stress actually costs between $750 and $2,000 a year per employee. The situation is dire, but employers are in a position to help by providing for personal financial education.
Limiting an Employee's Right to Discuss Pay with 'Other Parties' May Violate NLRA
August 18, 2008—The National Labor Relations Act (NLRA) prohibits employers from instituting work rules that explicitly restrict the ability of employees to have discussions, among themselves or with union representatives, about compensation or working conditions. If an employer allows its employees to discuss compensation with each other but, for a valid business reason having nothing to do with unions, prohibits employees from discussing compensation issues with "other parties," has the employer violated the NLRA?
Commuter Benefits Provide Relief From Financial, Environment Costs
August 11, 2008—Unless you have an untapped oil reserve in your backyard, you may not be able to solve the problem of $4+ per gallon gasoline in the U.S. You aren't likely to make much headway with saving your employees from their long commutes twice a day, either, not to mention the problems of air quality that go along with them. Larry Filler, president and CEO of TransitCenter, Inc., says that you can provide commuter benefits at little cost, and that goes a long way towards environmental and employee relations goals.
Can HR Really Educate the Healthcare Consumer?
August 04, 2008—Just as astronomical gas prices are forcing us to pursue alternative energy sources, healthcare inflation has forced U.S. companies to find alternative health plans. Consumer-driven healthcare (CDH) seems to be the only option gaining real traction. Here we take a look at the seven major steps employees must climb to become true healthcare consumers, and how employers can construct the handrails needed to help the workforce ascend.
What You Need to Know About the Fair Labor Standards Act
July 28, 2008—Are you asking yourself what more you could possibly learn about the Fair Labor Standards Act (FLSA)? We spoke with Jason Kovac, compensation practice leader at WorldatWork, to learn more about some of the most-often overlooked parts of FLSA. The biggest issue, and the source of most FLSA-related problems, he says, is proper classification of jobs.
How We Got Here from There: The Evolution of Benefits
July 21, 2008—If employee benefits can be broken down to their absolute cost--in other words, if 1+1 always = 2--then companies can eliminate benefits altogether, simply increasing pay to offset the loss. It would be a simple and transparent solution. If that concept is making your hair stand on end, it is likely that you understand that more is at stake.
Annuity Payments in a 401(k) Plan? Take Them for a Test Drive
July 15, 2008—J. Mark Iwry of The Brookings Institution likes the idea of personal freedom offered by the 401(k) plan. At the same time, he believes that many people faced with a large account balance at retirement are taking the wrong course when they choose to take their entire account balance in a lump-sum distribution. The problem, he says, is for an individual to determine without guidance how much of the balance can be used each year with a reasonable expectation that the money will last a lifetime.
Supreme Court Ruling: Disability Retirement Plan Narrowly Survives Age Bias Claim
July 08, 2008—Recently, the Supreme Court, in a 5-4 decision, reversed the 6th Circuit's holding that a state's disability retirement benefits plan violated the Age Discrimination in Employment Act (ADEA) . The case serves as an example of how employers with even well-intentioned benefit plans run the risk of being accused of violating ADEA.
Executive Compensation in a Tough Economy
July 08, 2008—Edward J. Rayner, a partner with Katten Muchin Rosenman LLP says that when it comes to executive compensation, your ability to adapt to a changing economy is critical--and part of that is identifying and reacting to trends. We asked Rayner to discuss the trends he's seeing in executive compensation, in an effort to help readers as they ride out this difficult economy.
Include 401(h) Account Among Funding Options for Retiree Medical Care
June 30, 2008—As you struggle to stay ahead of medical care cost increases, providing medical benefits for your retirees may not be at the top of your priority list. Yet for some companies, where promises have been made to particular groups of employees, retiree medical may be something that you are contractually obligated to provide. Or maybe your corporate culture demands that you help employees as much as you can during their retirement years. Either way, funding retiree medical benefits as economically and advantageously as possible may be critical to your ongoing success.
