Sharing compensation data has become an annual tradition at Microsoft during this time of year READ MORE
Department of Labor Announces Annual Increase to Minimum Wage for Federal Contractors
On August 31, 2020, the Department of Labor’s Wage and Hour Division published its annual update to the minimum wage for federal government contractors. As of January 1, 2021, employees performing services on or in connection with certain types of government contracts will be entitled to a minimum wage of $10.95 per hour. The minimum cash wage for employees who are eligible for the tip credit will increase to $7.65 per hour. The current minimum wages for 2020 are $10.80 and $7.55 per hour, respectively.
Employers face liability under payroll tax deferral guidance
Many employers could opt out of President Trump's pandemic relief order on concerns they could be left holding the bag for back taxes. READ MORE
10 fastest-growing occupations and how much they pay
An aging population and dramatic advances in technology and energy will determine the fastest-growing jobs in the U.S. over the next decade, according to an updated forecast released Tuesday by the U.S. Bureau of Labor Statistics. READ MORE
Here's One Way Tesla Isn't Like Amazon: CEO Pay
If you spend time looking at Tesla (NASDAQ:TSLA), you'll eventually come across this comparison: "It's like Amazon (NASDAQ:AMZN) early on!" (i.e., it lacks sustained profits because it's reinvesting in the business, or it's actually a "software/ platform company"). It's understandable. After all, what company wouldn't benefit from the comparison to the juggernaut that Berkshire Hathaway vice-chairman Charlie Munger once called "an utter phenomenon of nature." READ MORE
Total CEO pay in U.S. companies rose by 5.5% for 2019
Increases in total compensation for CEOs at the nation’s largest corporations fell sharply last year as weaker corporate performance led to a drop in annual bonuses paid in 2020 for 2019 performance, according to a new analysis of proxy disclosures by Willis Towers Watson READ MORE
DOL Provides Guidance on Employers’ Obligation to Compensate Remote Workers
Prompted by the many new telework or remote work arrangements that have arisen in response to COVID-19, on August 24, 2020, the Wage and Hour Division of the U.S. Department of Labor (“DOL”) issued Field Assistance Bulletin No. 2020-5 (“Bulletin”) to provide guidance regarding employers’ obligation “to exercise reasonable diligence in tracking teleworking employees’ hours of work.” The guidance, which includes citations to the Fair Labor Standards Act (“FLSA”), the DOL’s interpretive regulations, and federal case law, does not break new ground; rather it offers reminders particularly applicable to teleworking and remote working employees and applies beyond COVID-19 telework arrangements. READ MORE
COVID-19 and Key Issues to Consider in Executive Compensation Programs
As employers navigate ways to incentivize and retain employees in this rapidly changing business environment, below are some key considerations when addressing the impact of COVID-19 on executive compensation. READ MORE
Understanding Stock Compensation Plans | Part I: Restricted Stock Units
If you look back 20-30 years, it was common for companies to offer employees access to company stock through company retirement plans, stock compensation plans, or employee stock purchase plans. In the fallout following the collapse of Enron and WorldCom in 2002, many employees lost not only their jobs but also their life savings as their company stock went to zero. This resulted in tremendous scrutiny from regulators, ultimately leading to legislation aimed to protect employees from corporate meltdowns. READ MORE
Why San Francisco Is In Trouble – 19,000 Highly Compensated City Employees Earned $150,000+ In Pay & Perks
The San Francisco Bay Area is home to wonders of the modern world like the Golden Gate Bridge and Silicon Valley — as well as powerful progressive politicians like House Speaker Nancy Pelosi, Governor Gavin Newsom, and U.S. Senator (and vice-presidential hopeful) Kamala Harris. READ MORE
Guidance issued on payroll tax deferral
Late on Friday, the IRS issued much-anticipated guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum on Aug. 8 (Notice 2020-65). The notice allows employers to defer withholding on affected employees’ compensation during the last four months of 2020 and then withhold those deferred amounts during the first four months of 2021 READ MORE
Uber employees sue over stock price decline since IPO
What’s Restrictive about Restricted Stock?
Here’s the deal: You pay nothing; shares of your employer stock are reserved for you; a specific period of time passes; you pay personal income tax on the value of the shares; and now the shares are yours to keep or sell. Did you get that? You pay nothing and eventually receive employer stock. And, your only cost is the income tax paid. Hmmm….sounds pretty good! READ MORE
How McDonald's clawback battle highlights need for strong misconduct policies
Regardless of whether the mega chain can claw back ousted Steve Easterbrook's severance package — which has grown to a staggering estimated $57.3 million since his firing in October — what matters is what the chain does next, corporate ethics experts say. READ MORE
Reopening and Rehiring During the COVID-19 – Critical Executive Compensation Considerations
As many employers are on the way to normalizing their business practices and re-engaging their employees, they should not overlook the many potential pitfalls in the administration of their retirement, health and welfare plans and their executive compensation arrangements. READ MORE
SBA Releases Interim Final Rule Related to Owner-Employee Compensation and Related Party Nonpayroll Costs
The U.S. Small Business Administration issued an Interim Final Rule on August 25, 2020 (the “Rule”), addressing owner-employee compensation and related party nonpayroll costs. READ MORE
Amazon CEO Jeff Bezos Becomes the World’s First $200 Billion Man
Amazon CEO Jeff Bezos became the world’s first person ever to hit a net worth of $200 billion on Wednesday, as the tech giant’s stock continued a steady climb that kicked off in mid-March, as the coronavirus pandemic hit the U.S. READ MORE
The CEO who gave everyone a $70K minimum salary in 2015 has a message for the doubters
Five years ago, Dan Price upended the status quo of the corporate world—one in which executives reap many times what employees sow—by taking a radical stance on salaries at his credit card processing company, Gravity Payments. First, he cut his own salary from more than $1 million to $70,000. Then he created a minimum salary of $70,000 for every employee at his company. READ MORE
Salary increases set for workers in 2021 compensation plans
Maximizing Sales Performance is No Longer Just About Compensation
Sales organizations are being forced to change at an incredibly rapid pace. With buyers operating in new ways, and remote work becoming the norm, reps must adapt to a new selling paradigm — under heightened pressure to meet ambitious goals. READ MORE