In the depths of the COVID-19 pandemic in early spring, with revenue plunging 70%, Dallas software company CEO Rishi Khanna quickly decided to cut the salaries of all 12 of his employees rather than lay some of them off. READ MORE
The Compensation Package Gen-Z And Millennials Want
Unlimited time off, flexible work schedules, free snacks, free lunch, free... everything. READ MORE
How to Effectively Tackle the Most Unusual Compensation Cycle Ever
There is no doubt that 2020 will go down as an extraordinary year. The humanitarian and economic toll of the COVID-19 pandemic has been felt far and wide. For total rewards professionals, this means year-end planning for 2021 will certainly deviate from the norm. In fact, for some companies, the usual plan of action may be completely irrelevant. So, how does one deal with the forthcoming cycle when everything feels so different? READ MORE
Are You Ready to Negotiate Salary During the Pandemic?
Trying to predict when things will return to normal is nearly impossible given the uncertainty caused by the coronavirus pandemic, yet employers in a new ManpowerGroup Employment Outlook Survey are throwing caution to the wind and revealing when they believe they’ll be back to pre-pandemic hiring levels. READ MORE
Employers predict average 2.6% merit increases next year, up from 2020
While salary plans may still shift, at least one other study found that salary increases are on the horizon next year for employees at many U.S. companies. READ MORE
Discretionary adjustments to executive compensation call for careful disclosure
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.