Federal agencies are being directed to raise the minimum wage for government employees to $15 an hour, according to new guidance from the Office of Personnel Management. READ MORE
Trucking company enacts largest pay increase in history
A major trucking firm in the U.S. just enacted a major pay increase for its drivers – the largest in the decades-old company's history, in fact.
KLLM Transport Services is boosting pay up to 33% for its over-the-road truckers and for trainees coming out of its academy, while regional company drivers and independent contractors will see a hike of 10 to 16% starting next month. READ MORE
A professor said her students think average Americans make six figures. That's a long way off.
The question asked by Nina Strohminger to her students at the Wharton School at the University of Pennsylvania was straightforward: What did they think the average American makes in annual wages? READ MORE
Weil’s Nomination to Be DOL’s Wage and Hour Administrator Advances
On Jan. 13, a Senate committee voted in favor of David Weil's nomination to be the U.S. Department of Labor's (DOL's) wage and hour administrator, a position he held during part of the Obama administration. Now his nomination moves to the full Senate. We've gathered articles on the news from SHRM Online and other outlets. READ MORE
Raising Wages and Narrowing Pay Gaps With Service Sector Prevailing Wage Laws
Prevailing wage laws for government service contracts can uplift wages and benefits; reduce racial pay gaps; and could have a range of positive effects on worker turnover, service quality, local budgets, and collective bargaining. READ MORE
Getting Ahead of this Proxy Season
Investor losses resulting from stock market crashes have driven most major turns in corporate governance. In this century, director independence and audit/accounting assurance came into focus after the dotcom bubble and Enron; executive compensation and shareholder influence took center stage after the Financial Crisis.
Today's fixation on ESG/DEI is different. READ MORE
The powerful role financial incentives can play in a transformation
Generous and specific financial incentives can help drive and sustain a rapid performance improvement. Seven principles can assist in delivering the maximum benefit during a transformation. READ MORE
Stanford GSB Graduated The Highest-Paid MBAs Of All Time In 2021
Stanford has released its 2021 MBA employment report, the last top school to do so
As we’ve seen in the release of employment reports from top-25 programs throughout fall and winter, the pandemic whirlwind has failed to cause long-term damage to job prospects for MBAs from elite business schools. If you want further evidence, take it from the top top program: Stanford Graduate School of Business. READ MORE
US Tech Salaries Top Six Figures in Tech Salary Report
Tech career marketplace Dice (a DHI Group, Inc. brand (NYSE: DHX)) released its 2022 Tech Salary Report, showcasing salary increases for technologists nearly across the board, including the highest average salary ever recorded by The Dice Tech Salary Report ($104,566, up 6.9% year-over-year). READ MORE
Salary increases for 2022 going up
If you’re tired of hearing about the “Great Resignation,” let us apologize now for bringing it up again. Unfortunately, it’s not going anywhere soon. And when the topic of salary increases for 2022 is broached, there’s no avoiding it.
Now that we got that out of the way, on to salary increases for 2022. READ MORE
Microsoft’s Activision deal may give scandal-plagued CEO a $375 million windfall
Last year, Activision Blizzard Inc. Chief Executive Officer Bobby Kotick received a 50% pay cut. This year, he’s up for a $375.3 million windfall.
That’s the amount the video-game executive stands to receive before taxes when Microsoft Corp. completes its $68.7 billion deal to buy Activision. It’s a remarkable payout for a leader whose recent tenure has been marked by employee complaints over sexism, a hostile work culture and mismanagement of assault claims. READ MORE
12 New Approaches To Compensation
In an unprecedented time for attracting and retaining talent, CEOs and CHROs are getting creative—from three-day workweeks at full-time status to paid mental-health days to raised wages. Here's what a dozen leaders told us they are doing differently. READ MORE
How to negotiate your salary, according to an expert
Washington bill proposes salary range be a requirement in job listings
Should employers post a salary range on job listings?
It could become a requirement in Washington. READ MORE
The Redesign of a Decades-Old Pay Structure
Knowing when and how to refresh your compensation program is a challenge faced by all compensation professionals. It is especially challenging in a well-established organization where the program has been the same for years, or even decades.
That was the case for Mayo Clinic. Pondering the question, “Is our compensation program meeting the current needs of our organization and helping us to advance into the future?” led Mayo Clinic on a path to refresh a pay structure that had been in place for 20 years. READ MORE
Companies Should Consider Modifying "Change In Control" Definitions In Executive Compensation Arrangements To Avoid Unintended Payment Trigger
Last year, a federal court considered whether a "change in control" had occurred under the terms of a company's Executive Severance Agreement (the "ESA"). The court's decision provides guidance on how a court might interpret a change in control definition under executive compensation arrangements and highlights the need for some companies to consider modifying their definitions for clarity. READ MORE
Compensation strategies for 2022: What employers must do to attract and retain talent
The year 2022 is shaping up to be one of the most challenging in history for employers. The growing imbalance between the number of job openings and the number of candidates willing to fill them is now coupled with the highest inflation rate in four decades. Employers in all industries – from fast-food restaurants to tech giants – are facing increased pressure to raise salaries and hourly wages. READ MORE
CEO's answer to 'Great Resignation' is offering $5K bonuses for new hires to quit
An Arizona CEO is offering a $5,000 bonus for new hires to quit after just two weeks into their new jobs as part of a unique approach to staff retention as a "great resignation" sweeps the American workforce.
Chris Ronzio, CEO of the Arizona-based software company Trainual that helps small businesses onboard, train and scale teams, is taking a unique approach to the nationwide issue of worker retention by instead paying new hires a $5,000 bonus to quit at the two-week mark into their new jobs. READ MORE
2022 minimum wage increases: Which states are getting raises and by how much
Minimum wages were set to increase on Jan. 1, 2022 in many states across the country, with some rising as high as $15 per hour. Several others states will see increases rolling out over the course of the new year.
The increases come amid rising inflation that continues to outpace wage growth. The latest Consumer Price Index indicated that inflation rose 6.8% annually in November, a nearly 40-year high. Comparatively, wages grew by just 4.9% annually in November, according to the Bureau of Labor Statistics. READ MORE
New York City Mayor Eric Adams to Take Bitcoin (BTC) Salary
The U.S government and cryptos have been both friend and foe in recent years. Late last year, the City of Miami was in the news, with Mayor Suarez announcing plans to pay locals Bitcoin (BTC) dividends. Incentivizing Miami residents, “the city is offering to pay Bitcoin (BTC) dividends to any locals who create a digital wallet”. The Miami mayor is no stranger to the crypto market. In early November, news hit the wires of Mayor Suarez taking a Bitcoin (BTC) pay check. With a reported annual salary of $97,000, that would have given him a 0.13BTC pay check in November. READ MORE