Compensation Archives - Patriot Software

Compensation Archives - Patriot Software Thu, 24 Oct 2024 19:26:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Compensation Archives - Patriot Software 32 32 Sign-on Bonus: Everything You Need to Know Before Offering One https://www.patriotsoftware.com/blog/payroll/sign-on-bonus/ Thu, 15 Aug 2024 19:01:00 +0000 https://www.patriotsoftware.com/?p=59404

Employer determining sign-on bonuses for new hires.

You’re struggling to find good, quality candidates to fill an open position. Or, you’ve found the perfect candidate and want to sweeten the job offer. What do you do? In either case, you may consider offering a sign-on bonus. But before you advertise a $500, $1,000, or $5,000 (you get the picture) sign-on bonus, you […]

]]> How to Calculate a Salary Raise Percentage for Your Employees https://www.patriotsoftware.com/blog/payroll/how-calculate-employee-raise-percentage-salary/ Mon, 06 May 2024 18:00:00 +0000 https://pslohio.wpengine.com/uncategorized/how-calculate-employee-raise-percentage-salary/

man deciding how to calculate a raise by looking at papers

Fewer employers plan to give pay raises in 2024 than in 2023, according to SHRM. Even so, 79% of businesses plan to dole out pay raises. To avoid losing your top employees, you might consider offering pay raises. Learn about criteria for raises, when to give salary raises, and how to calculate a pay raise […]

]]> How to Pay Employees: The Different Ways to Pay Your Employees https://www.patriotsoftware.com/blog/payroll/how-to-pay-employees/ Tue, 30 Jan 2024 19:42:00 +0000 https://pslohio.wpengine.com/uncategorized/different-types-of-payment-methods-modes/

How do you pay your employees? With checks? Direct deposit? Other? There are several ways to pay employees, especially as money continues to move into the digital sphere. If you want to know how to pay employees, take a look at these ways to pay your employees. And boy, do you have options. You can […]

]]> Your Overview of State Per Diem Rates [+ Resources] https://www.patriotsoftware.com/blog/payroll/state-per-diem-rates/ Mon, 08 Jan 2024 21:22:00 +0000 https://www.patriotsoftware.com/?p=49425

businessman wearing formal black suit holding smartphone and walking with suitcase in hotel lobby

If you have employees who travel for work, you might offer them per diem pay to cover travel-related expenses. Per diem rates can vary based on the state and city your employee travels to. Read on to learn about and get resources for different state per diem rates. Per diem overview Before you head into […]

]]> What Is Per Diem? How to Cover Employees’ Travel-related Business Expenses https://www.patriotsoftware.com/blog/payroll/what-is-per-diem-pay/ Mon, 08 Jan 2024 16:56:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-per-diem-pay/

When employees incur travel-related business expenses, you might consider covering their costs. You can reimburse employees for expenses by giving them per diem pay. What is per diem pay? What is per diem? Per diem is a daily allowance you give employees to cover travel-related business expenses. Per diem means “for each day.” You […]

]]> Understanding Publication 1542 Per Diem Rates https://www.patriotsoftware.com/blog/payroll/do-you-pay-employees-per-diem/ Mon, 08 Jan 2024 14:37:00 +0000 https://pslohio.wpengine.com/uncategorized/do-you-pay-employees-per-diem/

Flight attendant handing passport to traveler.

You might have heard about per diem pay before. But, are you familiar with Publication 1542? Learn more about Publication 1542 per diem rates and how to calculate per diem pay below. Publication 1542 Per diem is a daily rate employers give employees to cover business-related traveling expenses. You can repay the actual expenses the […]

]]> What Is Profit Sharing, and How Can it Benefit Your Business? https://www.patriotsoftware.com/blog/payroll/what-is-profit-sharing/ Wed, 13 Dec 2023 20:13:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-profit-sharing/

Woman looking at two co-workers and laughing.

Looking to offer your employees an additional benefit? Consider creating a profit-sharing plan. But before you run off and create a plan, you need to know what is profit sharing. Read on to learn all about profit sharing, including how it works and steps for creating a plan of your own. What is profit sharing? […]

]]> What Is the Bonus Tax Rate? https://www.patriotsoftware.com/blog/payroll/how-bonus-tax-rate-different-percentage-aggregate/ Tue, 05 Dec 2023 19:42:00 +0000 https://pslohio.wpengine.com/uncategorized/how-bonus-tax-rate-different-percentage-aggregate/

Picture your star employees and how much value they add to your business. Many employers recognize their employees’ value with bonus pay. When you give an employee a bonus, you are required to withhold taxes on the additional money. To figure out how much to withhold, you need to understand the bonus tax rate. Supplemental […]

]]> Ready to Dive Right Into Tip Pooling? Read This Before You Take the Plunge https://www.patriotsoftware.com/blog/payroll/tip-pooling/ Thu, 29 Dec 2022 21:35:19 +0000 https://pslohio.wpengine.com/uncategorized/tip-pooling/

In many types of service industries, employees can receive tips in addition to their regular wages. If your employees earn tips, you may consider giving tip pooling a try. Keep reading to learn all about tip pooling, including how it works and tip pooling laws you need to follow. What is tip pooling? So, how […]

]]> How to Handle a Tipped Employee and Their Pay https://www.patriotsoftware.com/blog/payroll/employees-receive-tips/ Tue, 20 Dec 2022 18:58:17 +0000 https://pslohio.wpengine.com/uncategorized/employees-receive-tips/

As a business owner and employer, there may be times when your employees receive tips. But, does receiving a tip from a customer automatically make an employee a tipped employee? And if so, what are the laws, regulations, and requirements for tipped employees and their wages? Keep reading to learn more about how to handle […]

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