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Compensation & Benefits

Save on tuition aid by managing colleges like vendors

09/01/2007

Tuition-aid budgets currently account for 10% to 12% of overall training costs, says Jeanne Meister, a corporate learning consultant and former vice president of market development at Accenture Learning. “That (increase) could grow out of proportion unless employers put the brakes on and manage tuition assistance,” says Meister. “It will be a big issue in five years.”  Here are six practical tips to help you manage tuition-assistance programs like your vendor relationships …

University of Michigan employee uses card to swipe $160,000

09/01/2007

In the third known case of employees abusing University of Michigan credit cards, a former maintenance supervisor at the university has admitted stealing $160,000. He faces a hearing to determine restitution …

Can employees agree to waive their FMLA rights?

09/01/2007

Q. I have been told the company cannot require an employee to sign a valid release of a potential FMLA claim. We recently have gone through a downsizing. We have a severance policy that provides a nice benefit, but to qualify, the employee must sign a general release promising not to sue the company over any employment-related matter. The release includes any claim under the FMLA. Is that OK? …

Deferred-Comp plans must comply with new rules starting Jan. 1

09/01/2007

The government hasn’t required much in the way of compliance when it comes to special executive retirement perks and bonuses. That changed in April, when Congress enacted a slew of IRS-enforced regulations known as 409A. Bring your deferred-comp plans into compliance now, or your executives could face stiff tax penalties.

Incentives for health assessment get employees into wellness

09/01/2007

To help create a culture of wellness, the Pepsi Bottling Group in Somers, NY, offered employees who participated in a health assessment a MasterCard prepaid with $75. The incentive worked: 70% of 33,500 U.S. employees participated …

Pay raises near 3.8% in ’08; more firms use bonuses

09/01/2007

A trio of new salary surveys from top consulting firms—Mercer, Hewitt and WorldatWork—predict that U.S. employers will dole out annual pay raises of about 3.8% in 2008, about the same level as this year …

Settling strike by paying for missed work may cut unemployment tab

09/01/2007

When it’s time to settle a strike, and that settlement includes paying for some of the time employees missed either because they were on the picket line or you laid them off, be aware of the language you use to describe the payment …

Suspicious of claimed injury? Examine records carefully for prior problems

09/01/2007

Too often, employees who suffer a minor accident at work milk that injury for extended workers’ compensation benefits. That’s why it’s important to diligently pursue suspected false claims with your insurance carrier. That may involve alerting it to your suspicions and reviewing the employee’s medical records to see if what he or she is complaining about is really a preexisting condition and not the result of a more recent injury …

Increase HSA enrollment by sweetening the plan

09/01/2007

Enrollment in health savings accounts (HSAs) is flat, and employee satisfaction with the pretax, consumer-directed plans is low, reports the Kaiser Family Foundation. Yet more organizations are offering them because employees who do participate have been found to spend less on health care than others. Here are five ways your organization can boost employee enrollment and satisfaction in HSAs …

Ending employee ‘Lease’ agreement? Timing can save money

09/01/2007

If you have signed up with a “professional employer organization” as a way to outsource your HR headaches but are thinking of ending the relationship, consider this: If you end the contract midyear, you may be liable for additional payments into the state unemployment insurance fund …