On July 20, 2020, the Wage and Hour Division (“WHD”) of the U.S. Department of Labor (“DOL”) published new guidance for businesses reopening amid the COVID-19 pandemic. The guidance is in the form of additions to the WHD’s existing Frequently Asked Questions (“FAQs” or “Guidance”) and addresses issues arising under two leave laws—the Family and Medical Leave Act (“FMLA”), and the Families First Coronavirus Response Act (“FFCRA”)—and wage and hour matters governed by the Fair Labor Standards Act (“FLSA”). READ MORE
What Is the Balance Sheet Approach to Expatriate Compensation?
Organizing the expatriation of an employee is a complex process, particularly when it comes to calculating an expatriate compensation package. Employers must consider a range of factors including an employee’s personal circumstances, the desirability of the relocation destination, and the overall cost of living. READ MORE
Employers Embrace 'Resilience Through Rewards' Strategies
"Employers face unprecedented challenges with a deadly pandemic, humanitarian crisis and economic meltdown," said Scott Cawood, president and CEO of WorldatWork, an association of total rewards professionals. "We have economies to build up and racism to tear down. We can work our way through all of this if we come together." READ MORE
Remote work is closing the wage gap
The pandemic sent most people home to shelter and to work. Remote work has been so successful that many companies have either given employees the option to continue telecommuting when the pandemic wanes or ends, or, have shifted all work to remote operations. There are unforeseen benefits to remote work, which include the wage gap closing, but remote work proved to have a positive economic impact. Telecommuting may be the key to solving the increasing geographic wage and opportunity gaps in the US. READ MORE
Joe Biden wants a $15 minimum wage — will the coronavirus pandemic make that more likely?
A $15-an-hour federal minimum wage has long been on many Democratic lawmakers’ wish lists. They could have the chance to cross that goal off their lists come November with former Vice President Joe Biden ahead of President Donald Trump in several recent polls. READ MORE
The $24 an Hour Minimum Wage
The push for a $15 an hour minimum wage has developed considerable political momentum over the last decade. It is a very real possibility that we will see legislation imposing a national minimum wage of $15 an hour by 2024 if Joe Biden wins the election this fall. READ MORE
$24 Minimum Wage Is What It Takes To Afford Rent Anywhere in America
Minimum wage and affordable housing do not coexist. There’s not a single place in the country where minimum-wage workers can afford to rent one- or two-bedroom homes without working impossible hours. Not even in places like Washington, D.C., Massachusetts, or California—where minimum wage is nearly double the federal minimum wage of $7.25 per hour—can workers find decent housing at an affordable rent. Michela Zonta, PhD, a senior policy analyst for housing and consumer finance policy at the Center for American Progress, says it’s always been this way. READ MORE
It’s now been 11 years since we raised the federal minimum wage
The last time the U.S. federal minimum wage was raised was July 24, 2009. For 11 years—now the longest period without a raise in the history of the minimum wage—the federal floor for earnings has been set at $7.25 an hour, or $15,080 a year. READ MORE
How a remote workforce will change your compensation strategy
The country may be reopening, but some employers are putting permanent work-from-home policies in place, giving them an opportunity to reconsider a compensation strategy that cuts costs and addresses their long-term goals and values. READ MORE
How to Design an Expatriate Compensation Plan
The development of compensation plans is not a process to be taken lightly, with a three-year international assignment sometimes costing more than $3 million. As such, HR leads must ensure packages are in line with the organization’s global business strategy and hold some level of consistency via established guidelines and protocols. READ MORE
The impact of COVID-19 on performance management
We’ve reached the time of year when organisations typically conduct mid-year performance reviews, a formal mid-year check-in point in the performance management process. It’s designed to reflect on progress made towards annual objectives or identified goals, and outline performance expectations for the remainder of the year. READ MORE
CARES Act — Prelude to a $15 Minimum Wage?
Included in the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act were three programs with less euphonious acronyms: FPUC, PEUC, and PUA. These programs extended (by 13 weeks), expanded (to self-employed workers), and added a $600 per week federal kicker to, state-level unemployment benefits. As July comes to a close, more than 25 million Americans are about to lose that federal kicker. READ MORE
Trump breaks promise on minimum wage as essential workers struggle with low pay
On July 1, Donald Trump said he would share good news about the minimum wage within two weeks.
Since then, 20 days have passed without a word from the White House on the subject. READ MORE
Worst Phantom Stock Plan Ever? Ask 24 Hour Fitness
Here’s a great story at Bloomberg.com. The former chairman of 24 Hour Fitness has sued the company for failure to pay what she claims was owed under a phantom stock award. We’re only talking $23 million here! Seems like reasonable fees for serving six years on the board, don’t you think? READ MORE
When are RSUs "Deferred Compensation" For FICA Purposes?
The purpose of this article is to focus on restricted stock units (RSUs) as “deferred compensation” for purposes of social security taxes (FICA). Whether the compensation is deferred compensation is particularly important for amounts that vest at the end of a calendar year but are paid shortly after. READ MORE
Elon Musk keeps climbing list of world’s wealthiest people
That’s some pay raise.
Tesla CEO Elon Musk added a whopping $5 billion to his net worth on Monday thanks to Tesla’s never-ending stock rally, allowing him to finish the day as the fifth-richest person in the world with a net worth of $74.2 billion. READ MORE
Remote jobs during coronavirus hiring for six-figure salaries now
These 15 jobs will be in high demand over the next 5 years—some with salaries topping $80,000
The U.S. economy took a major hit during the coronavirus pandemic, with tens of millions of people filing for unemployment over the course of just several months. READ MORE
America’s hidden economic crisis: Widespread wage cuts
Millions of Americans who managed to hold onto their jobs amid the coronavirus pandemic have seen their incomes drop as employers slashed wages and hours to weather what they expected to be a short-term shutdown. READ MORE
COVID-19 Emergence Strategies for Companies’ Executive Compensation Plans
Employers that have experienced significant disruptions to their executive compensation programs as a result of the COVID-19 pandemic should consider our top 10 cost saving/incentivization strategies as they begin to reopen. READ MORE