COVID-19 has had significant impacts on all aspects of business. While employers are assessing how to handle immediate employee needs related to sick leave, family leave and benefits claims, employers should also consider the impact that changes in their workforce or economic conditions will have on their compensation plans and programs. READ MORE
Companies Help Hourly Workers Get Through COVID-19
Eight in 10 CFOs say they'll offer benefits and/or monetary compensation that exceed their contractual obligations to hourly employees. READ MORE
Bonuses and pay hikes: How grocery stores keep workers on the front lines
A wave of top US retailers and grocers are giving cash bonuses and wage hikes to their cashiers, stockers and warehouse workers on the front lines of the coronavirus crisis. READ MORE
Coke, Disney Shareholders Anchoring a Renewed Movement Against Excessive CEO Pay
It's hardly a new complaint. Indeed, the headlines raging against shockingly big paychecks collected by United States CEOs have been regularly recirculated for years. This time, though, against a backdrop of consumers' concern over online privacy and frustration over lingering inequality, efforts from Walt Disney (NYSE:DIS) and Coca-Cola (NYSE:KO) shareholders have finally struck a receptive nerve that will incite actual change in how corporate chiefs are compensated. AT&T (NYSE:T) shareholders may be ready to jump on the bandwagon, too, after learning its CEO John Stankey received a 36% raise last year despite a string of corporate failures. READ MORE
Executive And Physician Compensation, Benefits And Contract Issues In The COVID-19 Era
As the Coronavirus (COVID-19) crisis unfolds, human and economic resources are and will be strained. Hospitals and health systems must be prepared to address the executive and physician compensation, benefits and contract issues that are very likely to follow. We offer a list of such issues and considerations that can help hospitals and health systems anticipate and address current and potential challenges. READ MORE
Walmart ups minimum wage in e-commerce warehouses by $2 as orders surge on virus worries
Walmart Inc said on Monday it has temporarily raised entry wages for workers in its e-commerce warehouses by $2, following similar moves by rivals, as it attempts to manage a shopping surge brought about by the coronavirus outbreak. READ MORE
Target announces pay raises, bonuses and new paid leave policy amid coronavirus
Target announced Friday that it would give employees a $2-per-hour pay raise, rolling out new benefits and bonuses as its staffers work to keep shelves stocked during the coronavirus pandemic. READ MORE
Bank of America boosts hiring, worker pay amid coronavirus outbreak
Bank of America Corp’s consumer division has hired 1,700 people in critical support roles so far this month, a spokesman said on Friday, as the industry faces a surge in customer service demand due to concerns about the coronavirus outbreak. READ MORE
Here's a list of CEOs taking pay cuts amidst the coronavirus crisis
U.K. Government to Pay 80% of Worker Salaries as Coronavirus Shuts Down Businesses
The decision is likely to ramp up pressure on Capitol Hill to support American businesses and consumers. READ MORE
Compensation Arrangements in Light of the COVID-19 Pandemic
As COVID-19 spreads throughout the United States and around the globe, companies are wondering what they can or should be doing to ensure the on-going effectiveness of their equity incentive and other compensation plans. READ MORE
COVID-19 and Public Company Executive Compensation Programs
The spread of COVID-19 is having an unimaginable impact on all facets of life, including our economy. While executive compensation programs might not be the most pressing issue facing corporate boards right now, volatility in the stock market, slowing supply chains, closed retail stores and restaurants, and the inevitable staff and expense reductions facing certain industries will undoubtedly have an impact on executive compensation programs and designs. READ MORE
GOP Plan Caps Pay, Severance at Companies Getting Virus Aid
The Senate Republican proposal for aiding businesses harmed by the coronavirus crisis would impose restrictions on executive pay and other limits often sought by Democrats. Senate Majority Leader Mitch McConnell Thursday released a massive stimulus plan that provides $208 billion worth of loans for businesses suffering because of the pandemic, including $58 billion for the airline industry and $150 billion for other distressed areas of the economy. READ MORE
Department of Labor Issues OSHA, Wage/Hour, and FMLA Guidance Addressing COVID-19
In response to the spreading 2019 novel coronavirus (“COVID-19”) pandemic, which has now been declared a national emergency by President Trump, the Department of Labor has released guidance to employers, summarized more fully below: READ MORE
Achieving Corporate Purpose and the Role of Long-Term Incentive Compensation in Doing So
Today’s column discusses the meaning of “corporate purpose” for a business corporation and the role long-term incentive compensation plays in achieving that purpose. (Each business enterprise, of course, will have its own goals and strategies to attain its corporate purpose in its own specific business or businesses.) READ MORE
COVID-19 and Compensation: Considerations for Public and Private U.S. Companies
The COVID-19 pandemic has created significant disruption in the financial performance of businesses across the globe, creating real challenges for compensation programs maintained by both public and private U.S. companies. READ MORE
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
In the week ending March 14, the advance figure for seasonally adjusted initial claims was 281,000, an increase of 70,000 from the previous week's unrevised level of 211,000. This is the highest level for initial claims since September 2, 2017 when it was 299,000. The 4-week moving average was 232,250, an increase of 16,500 from the previous week's revised average. This is the highest level for this average since January 27, 2018 when it was 234,500. The previous week's average was revised up by 1,750 from 214,000 to 215,750. READ MORE
Time to Re-Evaluate Your Comp and Benefits Policies
When the world seems to be spinning off its axis, it’s reassuring to have workplace experts and strategists who can help make sense of the world at work under dire circumstances. READ MORE
Wells Fargo cancels $15 million bonus to former CEO Tim Sloan
Wells Fargo’s board of directors canceled a $15 million bonus it had awarded to former CEO Tim Sloan, the bank said in a proxy filing. READ MORE
The Impact of COVID-19 on Incentive Compensation
The COVID-19 outbreak has had a swift and volatile impact on business operations and the financial markets. Because this is occurring simultaneously with the annual incentive award cycle of many companies, immediately at issue is how companies will address incentive setting and employee retention in this rapidly changing environment. READ MORE