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Many companies will kick off the annual (or mid-year) performance appraisal season for employees soon.
While some believe it badly needs a revamp, particularly in light of the Covid-19 pandemic, the annual performance appraisal as we know it is unlikely to go away anytime soon for most employees because “pay for performance” is still de rigueur. READ MORE
Every year, there’s a lot of misinformation when it comes to executive compensation. The headlines typically focus on public companies—and, more specifically, on Fortune 500 CEOs. Lumping all chief executives and senior executives in together based on this small subset, as if they’re some homogeneous pack, is, of course, intellectually lazy. But more pragmatically, the lack of information for private companies across all revenue ranges—which form the largest part of American enterprise—means many organizations make uninformed and reactive compensation decisions. READ MORE
Despite an unprecedented pandemic that has crippled many sectors of global economy, Tesla and SpaceX CEO Elon Musk has seen his fortune quadruple this year. At time of writing, his net worth stands at $105 billion, according to Bloomberg Billionaires Index, closely trailing Mark Zuckerberg, Bill Gates and Jeff Bezos as the world’s fourth richest person. READ MORE
Accusations of pay disparities based on gender and minority status have long haunted the tech industry. READ MORE
While the pandemic has had a negative impact on many aspects of long-term care, executives’ salaries may not be one of them. COVID-19 actually is pushing up executives’ salaries, creating demand as leaders leave, often due to stress and burnout, salary experts told McKnight’s. READ MORE
There seems to be a consensus that salespeople are merely coin-operated and driven solely by money. “If you increase commissions in the comp plan, salespeople will produce more,” has become conventional wisdom. This is a strongly held belief that may hold true for some salespeople, but those aren’t the people you want selling your product. READ MORE
Executive and board director compensation practices have come under more scrutiny as a result of the pandemic. BDO USA, LLP has released two separate reports, one on CEO and CFO compensation and one on board compensation, which explore how compensation levels and practices changed in 2019 and the extent to which the global health crisis has altered compensation practices. READ MORE
On October 15, 2020, Institutional Shareholder Services, Inc. (“ISS”) published preliminary FAQs1 providing general guidance as to how ISS may assess COVID-related executive compensation decisions as part of its regular pay-for-performance qualitative evaluation for the upcoming proxy season. Based on feedback obtained by ISS during investor roundtables and responses to ISS’ annual policy survey, the FAQs are intended to inform investors, companies, and their advisors on COVID-related executive compensation issues, and have been released ahead of ISS’ regular annual compensation FAQs, which are anticipated to be published in December 2020. READ MORE
Google and Facebook took top honors in Comparably’s 2020 ranking of the top highest-rated large companies for best compensation for the third straight year. READ MORE
Democratic presidential candidate Bernie Sanders released a plan targeting high corporate executive pay on Monday as he continues to trail rivals Elizabeth Warren and Joe Biden in the polls. READ MORE
Dollar General pays its employees the least when compared with many other major U.S. retailers, a new report suggests. READ MORE
In Thursday night’s debate, both President Donald Trump and former Vice President Joe Biden expressed openness to a $15-per-hour national minimum wage. Biden seems all for it, and Trump indicated it may be a good idea for some states. READ MORE
The most-searched issue on Google in all but six states during the final presidential debate was wages, underscoring the importance of the issue to voters in this election. READ MORE
After a summer of protests over the killing of George Floyd broadened into a wider reckoning on racial injustice, corporate America and the political establishment unleashed a flurry of promises to combat systemic racism. Diversity initiatives have been launched; high-profile companies in several sectors have settled on the advancement of a few people of color in their hierarchies. READ MORE
The importance of employee attraction and retention on overall business success is an often-debated issue. Although two very divergent schools of thought exist — either employees as assets or employees as expenses — everyone agrees on one thing: Employees are necessary to operate a business and employees want to feel valued. It has been proven that failing to address the most important factor in operating a business (i.e., your people) will ultimately result in the demise of a company — or at the very least, the risk of reputational harm. READ MORE
If a security guard hadn’t noticed a suspiciouslooking piece of duct tape on a Watergate office building door, Richard Nixon might never have resigned the U.S. presidency. READ MORE
Former Vice President and Democratic nominee Joe Biden wants to help small businesses during the pandemic by raising their labor costs with a minimum wage hike. READ MORE
Its predictability doesn’t make it any less perplexing. Time and again Wall Street analysts will criticize a company for raising wages at the alleged expense of shareholders, and the stock will take a hit. Shortly thereafter, as the benefits of the wage increase begin to pay off – in the form of more engaged and productive employees, happier customers, better retention, etc. – the stock recovers and goes on a tear. Fears of margin compression subside. The returns on that investment in human capital become clear. Shareholders are satisfied. READ MORE
President Trump went after Democratic nominee Joe Biden’s stance on how to help small businesses during the coronavirus pandemic, after the former vice president said he favored raising the minimum wage to $15 an hour. READ MORE