Salary Survey

How to Build a Competitive Employee Benefits Package

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There are many ways to measure the success of an entrepreneur, including the number of new ideas launched, the revenue and profits earned, and the ways in which he or she serves an industry or a community. But perhaps the chief among these is the impact the entrepreneur is able to have on the lives of employees. Beyond tangible rewards such as pay, and intangibles such as mentoring, a business owner can profoundly shape a worker's life by providing a generous package of employee benefits.

15 Cool Job Perks that Keep Employees Happy

Today's employers place a high premium on keeping workers happy. After all, research shows that happy workers are the most productive.

A strong mission, like-minded co-workers and a great company culture can be rewarding, but there are other, unique perks that can both attract prospective employees and keep your existing ones motivated and engaged. Here are 15 awesome perks offered by large and small businesses across the country.

Read more here: Business News Daily

What is My Legal Obligation to Pay Employees?

What is My Legal Obligation to Pay Employees? What Happens If I Don't Pay Them?

Times are tough for many companies, and when cash is short it is tempting to try to save money by delaying payment to employees or not paying terminated employees. But paying employees is one of your top legal obligations. If you have employees, you must pay them. Attorney Michael Helfand discusses the legal obligations of employers and the repercussions if employees are not paid in a timely manner.

Federal and State Laws About Paying Employees

How to Determine How Much to Pay Your Employees

Complying with wage and hour law and doing payroll are vital components of the process of paying your employees. First, however, you must decide what amount to pay them. What other employers in comparable businesses are paying is a good way to determine what an employee's salary or salary range should be.

Rules & Regulations for Paying Salaried Employees

Paying members of your small-business workforce as salaried employees may be easy for you and empowering for them, but in doing so, you must comply with the rules and regulations of the labor laws. The Fair Labor Standards Act guidelines do not apply to salary basis employees who are exempt. If your business classifies any of its employees as salaried nonexempt, the FLSA covers them as it would any other nonexempt employees.

How Much Does An Employee Cost?

Employment costs fall into several broad categories:

Recruiting Expenses

Finding technically qualified people who can function effectively in a rapidly growing startup venture is not easy task.  In an earlier column we discussed the economic alternatives for head hunting.  For this column it suffices for me to remind you to be sure to devote the time to make sure that your hires are as close to perfect “10s” as possible.  Anything less will be a drag on your business.

Basic Salary

Pay Docking for Salaried Employees

Docking the pay of exempt employees is only permissible in certain circumstances. The Fair Labor Standards Act (FLSA) governs wage and hour laws of nonexempt employees. The law requires employers to pay nonexempt employees at least the federal minimum wage and requires the payment of overtime for an employee who works more than 40 hours in a week. Employees who are exempt from the law are not entitled to overtime or the federal minimum wage, but employers may not make improper pay deductions from their salary.

Stagnant Wages: What the Data Show

Wages have grown over the past few years at rates similar to historical trends. The frequently repeated claim that wages are “stagnant” is at odds with six measures of wages and compensation, which indicate that hourly and weekly real wages (wages adjusted for price inflation) have grown between 1 percent and 2 percent per year since the beginning of 2013. Rather than engaging in fruitless attempts to raise wages directly, policymakers can benefit workers by removing laws and regulations that have artificially increased the prices of consumer goods.

Stagnant Wages: What the Data Show

Wages have grown over the past few years at rates similar to historical trends. The frequently repeated claim that wages are “stagnant” is at odds with six measures of wages and compensation, which indicate that hourly and weekly real wages (wages adjusted for price inflation) have grown between 1 percent and 2 percent per year since the beginning of 2013. Rather than engaging in fruitless attempts to raise wages directly, policymakers can benefit workers by removing laws and regulations that have artificially increased the prices of consumer goods.

Politicians Don’t Guide the Economy, You Do

Economic growth starts with the individual, not the state

MLive columnist Rick Haglund is skeptical about the state’s choices of favored industries, noting that much of the Michigan Business Development Program subsidies go to manufacturers. “[D]eluded by the recent resurgence of manufacturing jobs, state policymakers are doubling down on promoting Michigan as a state that makes things,” he writes.

However, everyone should be skeptical of the idea that the state can lead economic growth at all.