In the wake of uncertainty about the coronavirus pandemic and its impact on public markets, many compensation committees are evaluating how to follow through on incentive compensation for their executive teams. This year has been anything but ‘business as usual.’ READ MORE
WHY IS COMPENSATION PLANNING INEVITABLE FOR COMPANIES POST COVID?
Being a human resource manager or a compensation professional, the exercise of doing a compensation planning every year is a tedious task. With companies keeping their merit increase budget same year-on-year, it has become a challenge to reward and engage the right employee, more so, when the economy has been hit the hardest with COVID. Sluggish growth, low revenues and decrease in business activity have put a brake on expansion plans, salary increments and improvisation in compensation budgets. READ MORE
Compensation Trends Amid COVID-19
88% of senior managers worry about losing top talent; of those, 39% say salary reductions and planned salary freezes are to blame READ MORE
Will you have to spend more on compensation in 2021?
Budget season has arrived! But will you have to allot more money for compensation due to a bump in the minimum wage? READ MORE
Employers face administrative burden under payroll tax deferral
Questions remain unanswered on how to account for 6.2% employee payroll tax holiday when tax filings come due next year. READ MORE
24 Hour Fitness Bonus Plan ‘Excessive,’ Bankruptcy Watchdog Says
A proposal from 24 Hour Fitness Worldwide Inc. to pay a total $8.8 million in bonuses to 22 senior managers is “excessive and unreasonable,” a federal bankruptcy watchdog says. READ MORE
BHP Will Tie CEO Bonus to Success Cutting Customer Emissions
BHP Group will link a portion of bonus payments for Chief Executive Officer Mike Henry and key leaders to progress by the world’s top miner on lowering greenhouse gas emissions at both its own operations and those of its customers. READ MORE
What Are Some Of Best Six-Figure Jobs With The Fastest Salary Growth?
There are many factors to weigh when choosing a career path, with financial compensation and long-term security considered top priorities for many job seekers. The process of finding that career can be difficult and tiresome, as the search can be convoluted. READ MORE
The Push and Pull of Executive Bonuses and Bankruptcy
What types of bonuses make sense prior to a bankruptcy filing, and how should companies manage the optics with stakeholders? READ MORE
Stiffing Workers on Wages Grows Worse With Recession
New research shows that minimum-wage violations spike as low-paid workers become more vulnerable and less inclined to complain. READ MORE
Why Joe Biden’s Pledge to End the Tipped Minimum Wage Is a Big Deal
Amazon adding 33K corporate jobs with average $150K compensation
The corporate job additions come ahead of the tech giant's first virtual "Career Day" on Sept. 16, which will give job seekers of all levels and interests the opportunity to attend live-streamed discussions and interviews with industry leaders, according to the event website. READ MORE
How biotech and pharma companies pay their CEOs, and their workers
Chief executives of drugmakers large and small received hefty pay increases over the past two years, shaking off persistent public criticism of the industry to capitalize on strong stock market performance. READ MORE
Leaked Salary Spreadsheet Reveals Microsoft Employee Earnings for a Second Year
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