Proving illegal pay discrimination can be difficult because of the many factors employers consider when setting compensation. READ MORE
Goldman Sachs CEO David Solomon slashes pay for his employees as revenue drops
Being a Goldman Sachs trader or banker is about to get less lucrative.
The bank cut compensation and benefits set aside for employees in the first quarter by 20% to $3.26 billion, or about $90,780 for each of the bank’s 35,900 workers. A year ago, that figure was $119,323 for each of the bank’s 34,000 workers. READ MORE
Compensation bias is bad for business. Here’s how to fix it.
Compensation equity makes you a more competitive, attractive employer with a diverse, productive workforce that drives profit. But it requires hard work at long odds. READ MORE
How Trump’s border policies are boosting wage growth
The left won’t admit it, but Friday’s employment report is yet more proof that President Trump’s policies have achieved in a little more than one year something progressive politicians have been championing for nearly forever: a fairly significant increase in the federal minimum wage. READ MORE
$15 minimum wage must be the law of the land
The $15 minimum wage is the progressive idea that working families need. The regional minimum wage is regressive. Here’s why.
Democrats ran and won in 2018 on bold ideas, including the bedrock principle of a fair day’s pay for a fair day’s work. READ MORE
Three performance management strategies that dramatically reduce attrition
Throughout my career I’ve been tasked with refreshing the performance culture in multiple, high-growth organisations.
The business goals of this exercise included both boosting overall workforce performance and improving employee retention, and I have observed time and again the many benefits to both organisations and employees from more frequent performance-related conversations around development and check-ins to ensure employees’ goals are clearly linked to the overall business strategy. READ MORE
Elon Musk’s compensation at least 40,000 times bigger than median Tesla worker
Elon Musk has come under recent scrutiny from the SEC for some ill-advised tweets, from shareholders about closing stores, and even paparazzis for his relationship to indie musician Grimes. READ MORE
U.S. job growth rebounds in March, but wage gains moderate
U.S. employment growth accelerated from a 17-month low in March as milder weather boosted hiring in sectors like construction, which could further allay fears of an abrupt slowdown in economic activity in the first quarter. READ MORE
Understand How Compensation Philosophy Impacts Your Paycheck
Have you ever wondered why some companies pay above-market salaries, while others offer candidates below-market rates for the exact same job? Or why brand-new hires often make more than a firm’s existing staff? It usually comes down to an employer’s compensation philosophy. READ MORE
Don't Be Fooled! Compensation Definitions Are Tricky!
Contributions to your 401(k) plan are calculated as a percentage of an employee’s compensation. Seems simple, right? Not so fast. The definition of “compensation” can actually be quite tricky to apply and can lead to errors that are costly to fix. READ MORE
Don't Rely On Compensation Alone To Show Employees You Care
Compensation is a tricky topic. It’s tiptoed around in interviews and whispered about among peers, but it’s a major concern in many employees’ careers. While an employee certainly cares about her salary and might directly link her value to the company to the number on her paycheck, we know it doesn’t define her worth. I’m a firm believer that while compensation matters, it’s not the only way you show employees they are valued. And if you think compensating employees competitively is enough to show what they're worth to the company, you’re missing a monumental opportunity. READ MORE
Congress should raise the federal minimum wage — the right way
AMONG THE first bills introduced in the House of Representatives after the Democrats took control in January was a proposal to raise the federal minimum wage from $7.25 per hour to $15 by 2024. The legislation, sponsored by Rep. Robert C. “Bobby” Scott (D-Va.) and 204 other Democrats, corresponds to the “Fight for $15” slogan and the progressive movement that has been campaigning for higher state and local minimum wages around the country. As you will notice, 205 co-sponsors is well short of a majority in the 435-member chamber, and the reason for that is not resistance from pro-business Republicans but the reluctance of skeptical Democrats. They are right to raise questions. READ MORE
Equal Pay Day Highlights Gender Compensation Gap
Days after the U.S. House of Representatives passed the latest version of a bill focused on ensuring protections against pay discrimination on the basis of a person's sex, Tuesday marks the symbolic Equal Pay Day highlighting the pay gap that exists between working men and women. READ MORE
The great compensation shift: From solo stars to team players
After five years at Brighton Jones, a large Seattle RIA, Stonich and two colleagues at the firm wanted to run a business their own way.
“We felt we could play an even bigger role in our clients’ lives, and have more control of our own,” she says. READ MORE
'Managing employee performance': Why it’s time for companies to rethink
In the 90s and early 2000s, a few companies set global standards on how to manage performance. Many of them are facing challenging times now and their methods and models have come under question. Why did this happen? READ MORE
U.S. Wage Growth Is ‘Higher Than We Think’, Fed Researchers Say
U.S. workers are experiencing larger wage growth than you’ve been reading in the news.
That’s according to a new study by a group of researchers at the Federal Reserve Banks of Dallas and Cleveland. The researchers conclude that average hourly earnings -- or AHE ---reported by the Bureau of Labor Statistics understates real wage growth by "a notable amount," according to a Feb. 26 blog post. READ MORE
To Help Improve U.S. Wages, Check Out Germany
I recently argued that if companies won’t pay their workers a living wage, then the government will to do it for them, and in ways they probably won’t like. READ MORE
Fannie, Freddie boards ducked salary caps to pay executives millions
The Federal Housing Finance Agency acted to circumvent a congressionally mandated limit of $600,000 on CEO compensation at Fannie Mae and Freddie Mac when it approved plans last year to pay top executives millions of dollars, according to two new reports from the FHFA inspector general. READ MORE
DOL moves to exclude perks and other compensation from OT pay calculation
The U.S. Department of Labor on Thursday proposed a rule that would exclude discretionary bonuses, unused paid leave, and other types of compensation and perks from the wages used to calculate overtime pay for workers. READ MORE
Minimum wage would be $33 today if it grew like Wall Street bonuses have
Wall Street employees saw their typical annual bonus slip by 17 percent last year to $153,700, according to new data from the New York State Comptroller. But don't feel sorry for the banking set just yet -- even including down years like 2018, bankers' bonuses have jumped by 1,000 percent since 1985. READ MORE