Key issues for implementing skill-based pay

Article Abstract:

Skill-based pay schemes mean a significant changein the way employees of organizations are compensated. Even when such a scheme is only a minor part of the total compensation plan, paying employees for what they know rather than basing it on what they do reflects a big change from conventional practice. In the implementation of such a scheme, managers need toidentify the needed skills, set standards on how the skills are to be measured and update training and development programs.

Wages, Wages and salaries

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The true cost of disability plans

Article Abstract:

Employers have not considered the costs incurred in short-term and long-term disability programs despite the continued rise in said costs. Aside from premiums, these plans incur non-monetary costs as well. These include decreased productivity and the costs of recruiting and training replacement workers. Expenses for disability prevention programs may also be considered as actual costs.

Economic aspects, Disability evaluation, Wellness programs

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401(k) plans are more popular than ever

Article Abstract:

Increasing numbers of employees are expressing their preference for 401(k) plans instead of the more common defined benefit schemes.Employees appreciate 401(k) plans since they allow pretax contributions to an employer-sponsored savings plan up to an indexed maximum dollar amount to be made. In addition, the matching contribution made by the employer is an attractive feature.

Pensions

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