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Determining how to classify independent contractors versus employees might seem straightforward on the surface. But what appears to be a simple issue is quite complicated.
The decisions as to how to classify workers and the companies that provide them with opportunities to work differs in each state and thus, suggesting rules which will apply federally is dangerous, as each state enforces the classification issue in theoretically different ways. READ MORE
Hard Rock International and Seminole Gaming announced on Tuesday a $100 million investment to raise starting wages for half of its U.S. workforce at company-managed hotel, café and casino locations nationwide. READ MORE
Employees working for the largest federal food service contractor, Sodexo, are raising concerns about lagging wages to Congress in hopes lawmakers will support more competitive wages on government contracts.
Members of Unite Here, a labor union representing 300,000 employees across various industries, picketed outside the Federal Reserve building in New York last week, saying inflation further erodes wages that already lag behind the private sector. And on Sept. 13, members who work in the House of Representatives, the FBI and Fannie Mae will rally in Washington, D.C. READ MORE
Employment at US state and local governments will take another three years to fully recover from the mass layoffs of the pandemic recession, partly due to struggles in matching private-sector wage increases, according to Morgan Stanley economists. READ MORE
Annual pay raise budgets in the U.S. are getting a bump in 2023 from the longtime status quo.
“The increases have gone up from what had been 3% for many years,” David Turetsky, VP of consulting at Salary.com, told me. “It’s now budgeted for 4% and potentially higher for next year.” READ MORE
When it comes to executive compensation for younger and growing companies there are signs that the pace of increased executive compensation is not sustainable in the wake of slowing venture capital funding for startup firms, the report states. READ MORE
A compensation committee is the portion of a corporate or nonprofit board that selects and reviews salary and other forms of compensation. It must balance the organization’s financial realities with investor expectations and ultimately create competitive retention strategies. Compensation committee responsibilities include advising the board and strategically selecting what to include in a compensation package. READ MORE
Amid the battle to attract and retain talent—and stay competitive as inflation remains high—many employers are upping the ante for potential hires.
But, a new survey finds, that attention on wooing employees is much to the chagrin of current employees, many of whom are suffering from financial stress as they reel from the soaring cost-of-living and seek help from employers in the form of compensation increases. READ MORE
It’s rare for companies to provide much transparency about how they make pay decisions. But, as laws are being passed mandating pay ranges be shared in job postings, withholding information regarding pay will become more challenging for employers. READ MORE
Salary increase budgets in the U.S. are projected to grow, on average, just over 4 percent for 2023, less than half of the current annual inflation rate of 8.5 percent, according to new survey data. READ MORE
The ability to negotiate is a key skill in business, even more so when accepting a job offer or getting promoted to a new position. However, chances are you probably didn't ask for enough money.
According to research, less than a third of people successfully negotiate their salary to increase their earnings. The majority simply aren't comfortable enough with asking for a pay raise. READ MORE
A new report from ADP suggests that employers are continuing to add jobs – though fewer new employees were added to the payroll in August compared to July. According to the ADP National Employment Report, while there were 270,000 new jobs added to the economy in July, only 132,000 jobs were added in August, representing a reduction in growth of over 50%. READ MORE
Incentive plans for corporate executives have been linked to financial metrics for many years. Adding environmental, social, and governance (ESG) metrics to these compensation plans is a more recent development—especially over the last 10 years—as companies increasingly want ESG goals to be taken seriously by the senior management team. READ MORE
On August 25, the SEC adopted rule amendments that require registrants to disclose, in proxy or information statements in which executive compensation disclosure is required, information showing the relationship between compensation actually paid to their named executive officers and the company’s financial performance. Emerging growth companies, foreign private issuers, and registered investment companies are not subject to the new requirements, which apply in scaled form to smaller reporting companies. READ MORE
On August 25, 2022, the Securities and Exchange Commission, in a 3-2 vote, adopted a new disclosure rule implementing the Dodd-Frank Act’s requirement that public companies disclose the relationship between compensation paid to executives and the company’s financial performance. SEC Chair Gary Gensler’s stated purpose of the new rule, commonly known as the “pay versus performance” disclosure requirement, is to promote transparency and make it easier for shareholders to assess a public company’s decision-making with respect to its executive compensation policies. READ MORE
The Great Resignation may be waning, but workers are still looking for a raise.
Since April of last year, people have searched for jobs that pay $20 per hour more than they’ve searched for jobs that pay $15 per hour, according to a new analysis from Indeed’s Hiring Lab. That’s a change from 2019 and 2020, when job searches on Indeed's platform that mentioned “$15” outnumbered those that mentioned “$20.” READ MORE
MBA graduates already make 42% more than working professionals with just a bachelor’s degree. The median base salary for MBA graduates is $115,000, according to the Graduate Management Admission Council, but some alumni are earning even more money in their first roles. MBA grads who go on to work at the top three consulting firms—McKinsey & Co., Boston Consulting Group, and Bain & Co.—will now bring home starting base salaries of $190,000 to $192,000. READ MORE
In its newest college rankings, one of the seven factors that Forbes employed is the median salary that a college’s graduates earn at various points in their careers. Alumni salary is weighted at 20% of the overall ranking, and Forbes looks at this factor through four different lenses, each one worth 5%. READ MORE
An applicant has been applauded for turning down a job, after they were offered $6,000 below the advertised range because they were currently unemployed.
Redditor u/Jasoncav82 shared the interview process to the site's AntiWork forum, where they revealed they had been looking for work since June, after leaving their job. READ MORE
Faced with a generation of young talent and job seekers who are asking the question of the purpose and meaningfulness of their professional activity much more loudly than their predecessor generations, companies are facing major challenges. READ MORE