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Setting Sales Incentives: a Step-by-Step Guide

Incentivizing employees is rarely as simple as we would like it to be, and it’s easy to send the wrong message to employees when goals and incentives are unclear. Follow these steps to avoid some common pitfalls when rolling out incentives. 1. Set your goals. You want to tailor the design of your incentives so that they’ll have the desired effect. Some useful questions to ask during this process include: What type of products do you want to emphasize? Do you want to direct sales attention so as to maximize profit? Do you want to generate new clients or maintain old? Will incentives be purely sales-based, or will they consider relative profit margins? 2. Structure your plan around your goals. While you’re building your incentive plan, make sure that your plans are both rational and fair. You want to stay consistent to the goals you established at the beginning of this process, but also want to avoid creating cross-purposes within your organization. As you plan, evalu ...

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Slower increases in salary force employers to utilize stronger benefit packages

While employers strive to keep their workers as satisfied as possible, not all organizations are in a favorable financial position to award raises in salary. That being said, employers should be aware of other ways in which they can award their employees for valuable service to the organization, while saving some expense in the process. Increasing and adding benefits the employee’s benefits packages is an excellent alternative for organizations that wish to give employees more compensation but don’t necessarily have the cash for a salary raise. Research indicates that employees who aren’t receiving any type of raise or more valuable compensation are apt to make a change. Specifically, those who aren’t seeing a raise in salary are looking into competing organizations that are offering more comprehensive benefit packages. As more opportunities arise for employees, it’s more important than ever that organizations seriously consider what steps need to be taken to retain top talen ...

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The importance of ensuring Affordable Care Act compliance

Experts and legal counsel in employment and labor functions are offering new recommendations as to how organizations should prepare for the complexities of the Affordable Care Act. Noncompliance will come at a big price. Organizations can avoid these issues by simply reviewing and appropriately modifying their policies. The Equal Employment Opportunity Commission is overseeing the priorities of the legislation in terms of workplace regulations. The organization is charged with not only ensuring companies understand the new regulations, but also ensuring that they’re compliant within the new policies and restrictions. In 2013, the organization resolved nearly 26,000 Affordable Care Act-related claims last year. Within those numbers, at-fault organizations paid out almost $110 million in fines. Some of the most prevalent employment-related ADA compliance issues surround appropriate accommodations for employees who might need them. These include leave, working from home and transfer as accommodatio ...

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Department of Labor sets forth new requirements for dropped contraceptive coverage

The U.S. Department of Labor (DOL) has recently imposed restrictions on employers who have or are planning to cancel contraceptive coverage for the employees. The requirements state that employers will be required to give their employees adequate notice of the change in their benefits. If the organization’s medical plan is subject to the regulations of the Employee Retirement Income Security Act (ERISA) does not allow for any contraceptive coverage, the DOL states that the summary of benefits within the plan must describe in detail the extent of the coverage or lack thereof if there isn’t any. For plans that are no longer offering contraceptive coverage after having offered the benefit previously, they must provide their enrollees with written notice 60 days before the changes go into affect. This regulation comes directly from the DOL. The new rule came to light in a series of Frequently Asked Questions surrounding the Affordable Care Act on the Department of Labor’s website. ...

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Health plans with minimum coverage might best suit small employers

As a result of the employer mandate within the Affordable Care Act, industry experts are examining the best practices for various organizations based on the size of the company. Some suggest that smaller organizations might be best suited to utilize minimum-coverage plans that offer essentials only in an effort to save money while meeting the mandate and remaining compliant. Such considerations face organizations with questions as to how they will recruit and retain a talented workforce that considers benefits a vital portion of a total compensation package. The fine for not meeting the employer mandate is $2,000 per employee. To avoid this, employers within organizations of various sizes are examining what options might be best for them. Employing a plan that only offers minimum coverage allows companies to send their employees to the public exchanges to purchase the plan. Organizations who are faced with this question are trying to decide what the most cost-effective option is for their organization. ...

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