Use Big Data to Improve Your Benefits Program

Big data relates to the massive amount of information that businesses come across every day. In the past, employers were hard-pressed to keep up with and properly analyze copious amounts of data. Now, with the advancement of technology, data can be collected and processed at a much higher velocity. After the data has been gathered by a system, it can …

Fully Insured Versus Self-Funded Health Plans

There’s more than one way to fund health insurance. Below are two of the key options. Fully insured A fully insured health plan is purchased through an insurance carrier. Typically, the process is as follows: The employer negotiates the best rates possible with the insurance carrier. The employer agrees to pay a monthly premium to the insurer; the monthly premium …

4 Steps for Conducting an Internal I-9 Audit

The Immigration Reform and Control Act of 1986 (IRCA) forbids U.S. employers from knowingly employing people who are not authorized to work in the United States. The IRCA also prohibits employers from employing individuals without using Form I-9, Employment Eligibility Verification, to verify their identity and legal authorization to work. To ensure employers are complying with the IRCA, U.S. Immigration …

Employee Loans and Their Tax Consequences

A salary, or wage, advance is a type of short-term loan from an employer to an employee. The employee receiving the advance must pay back the money within a specified time frame, as dictated by the company’s salary advance policy. Under federal law, employers can make payroll deductions to recover salary advances even if the transaction causes the employee’s pay …

Different Kinds of Bonuses — And Their Effect on Overtime

Bonuses are a form of variable pay that are used to inspire employee loyalty or reward performance, and it’s essential to know about the different kinds. Discretionary bonuses A bonus is discretionary if it’s given solely at the employer’s discretion and does not cause an expectation of payment from the employee. The bonus should not be contingent on the employee’s …

Learn the Value of Employee Self-Service

Employee self-service is a web-based tool that allows employees to retrieve information and perform specific transactions from a central portal. In many organizations, this portal is used to deliver HR, payroll and benefits information. Over the years, ESS has blossomed into a global phenomenon, and is currently leveraged by large, midsized and small employers. Where did this come from? Employee …