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The United Auto Workers union’s strike against the Detroit Three for higher wages, more paid time off, and the elimination of tiered workers, which is in its fourth week, has drawn attention to the vast differences in pay between autoworkers and executives at auto manufacturers.
The union has frequently spoken out about the gulf between CEO pay and worker pay to argue that the auto manufacturers can afford to increase wages for autoworkers. READ MORE
US employers are planning to budget less for raises next year, according to recent data from consulting firm Mercer.
The August survey, which draws upon responses from more than 900 organizations, found employers are planning to allocate 3.5% of their compensation budgets to performance-based merit raises in 2024. That’s down from 3.8% for 2023. READ MORE
The jobs market has chugged along, confounding many executives who have been bracing for a recession for some time. On Friday the Labor Department said hiring soared last month, far exceeding predictions, with payrolls swelling in September more than during any month since January, CFO Dive previously reported. READ MORE
Sapna Arvind had always dreamed of having a big career in finance.
“My dad, when I was a child, would say, ‘I wanna see you on CNBC,’ "she says. “So I did my undergrad in finance at New York University with those words ringing in my ears.”
Arvind embarked on a career in asset management in New York City after getting an MBA in finance from MIT Sloan School of Management in Cambridge, Massachusetts. By her mid-30s, she was also a mother of two children under the age of 10. READ MORE
In today’s services economy, buyer experience is a key sales differentiator and a driver to future sales. That fact is all-important to customer success, but how can your organization best influence the key factors – consumer confidence and customer satisfaction -- that power it? One beneficial strategy is to consider making customer success metrics a component of the sales incentive compensation plan. READ MORE
Diversity, equity and inclusion (DEI) programs are successful when they are incentivized, as seen by the significant leapOpen in a new tab in hiring people of color at S&P 100 companies in 2021.
But following the Supreme Court's June ruling against affirmative actionOpen in a new tab, businesses are taking another look at their DEI programs and questioning if similar legal action may be taken against employers. One area being examined is tying DEI benchmarks to executive compensation. READ MORE
Apart from being the kind of feat that catches the attention of the Royal Swedish Academy of Sciences, the win signals once more that pay equity is a hot topic.
At the top of the year, experts predicted pay would be a trending DEI hot topic for 2023. Since the beginning of the pandemic — and subsequent erasure of the boundaries between work and home — the gendered burden of child care on working women has been increasingly top of mind for the HR industry. READ MORE
U.S. employers are on a hiring spree based on the jobs report for the month of September which showed the creation of 336,000 workers well above estimates. READ MORE
Are AI tools like ChatGPT & GPT-4 threatening your job security? Don’t worry you’re not alone in this black hole because, in the coming years, a report by Goldman Sach predicted that 300 million jobs will be diminished because of Artificial Intelligence taking over human jobs. And this is actually something to worry about. But we’ve also found the solution to get an upper hand on AI by learning how to talk to ChatGPT before it starts controlling us. In this blog, we’ll dive into how to secure a 2cr salary by doing AI prompt engineering — the hottest job of 2023. READ MORE
Here's a quick tip to negotiate your salary.
If you've been waiting for your next pay raise, you're not alone. According to a survey from OnePoll, the average American employee hasn't received a raise at their current job in the last three years.
But experts at Shapiro Negotiations Institute say getting that salary increase isn't impossible. READ MORE
Warren Buffett, CEO of Berkshire Hathaway, believes that CEO salaries are too high and should be no more than 20 times the salary of the average worker. But why do CEOs earn so much money? Let’s explore the complex factors that influence CEO compensation and why it is such a controversial topic. READ MORE
At the recent meeting of the Employee Benefits and Executive Compensation Subcommittee at the ABA’s Business Law Fall meeting, moderators identified several hot topics stemming from the new compensation recovery (clawback) policies required to be adopted by listed companies by December 1, 2023. READ MORE
Latina women working full time, year-round earn 57 cents for every dollar paid to white, non-Hispanic men, according to a data collected by the U.S. Census Bureau and the Bureau of Labor Statistics.
Latina Equal Pay Day, which in 2023 falls on Oct. 5, marks the additional days into the new year that Latinas must work to earn as much as the typical annual salary of white, non-Hispanic male workers. READ MORE
When hiring a team, one of the most important decisions you have to make is how to pay your employees. The two most common payment methods are hourly wage and salary. Here’s a look at the pros and cons of hourly wage vs. salary and critical details to consider when deciding how to pay your valued workforce. READ MORE
As the leader of a company that tracks tech employment trends, I’ve had a front-row seat to the industry’s highs and lows over the past few decades. It’s literally my job to keep up with tech employment trends and I can tell you one thing: It’s an interesting time for both workers and decision-makers in the tech sector.
However, beware of news headlines that show only one side of the story. The U.S. tech economy is going through some unusual changes–and it’s not always easy to wrap your head around them. READ MORE
The increase in income — to 11.8% last month from 10.7% in August — was driven primarily by high- and middle-income households and the West region
The share of US adults with decreasing incomes has ticked higher in recent weeks, another sign that the labor market is slowly cooling. READ MORE
The House will vote Wednesday on a bill that requires many employers to disclose a wage or salary range on job postings, Speaker Ron Mariano's office said, building on pay equity efforts that began nearly a decade ago.
The House Ways and Means Committee polled its members Tuesday morning on the salary transparency bill (H 4100), which Mariano signaled last week would be a priority for the House this fall. READ MORE
When I was starting out in my career, I heard about tech workers making half a million dollars a year, but I didn't think it was actually attainable. I certainly didn't expect that I could make substantially more in just a few years.
I spent the past decade working as a software engineer across multiple companies in Silicon Valley and was able to drastically increase my income over the years. READ MORE
From Detroit to Hollywood, labor unions are making a statement to America, “We’re still here.” This year, more workdays have been lost to organized labor action than in any year since 2000.
What is the primary driver? It’s a combination of factors: The current rise in the rates of inflation and interest, after two decades of abnormally low numbers, along with an extremely tight labor market. The resurgence of union activity is neither unexpected nor unpredicted. As interest rates slow economic output, while the COVID-era benefits that kept many workers out of the labor pool vanish, a disconnect between employers and union officials gradually grows. READ MORE
As employer plans for 2024 salary budgets evolve, workers do not appear to be backing down on their demands. Employees’ sense of power, a theme throughout the pandemic, has not flagged much despite shifting economic winds over the past year. READ MORE