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Tech workers and employers alike are beginning to question location-focused pay scales. A handful of companies are moving to abandon them altogether.
In setting pay without regard for location, tech companies including Reddit Inc. and Zillow Group Inc. are making a potentially expensive gamble to retain talent and gain a hiring edge. READ MORE
Graduating in the midst of the pandemic, Harvard Business School MBAs set yet another record in median pay. The total median compensation for an HBS grad this year reached $173,500. The total including sign-on bonuses and other guaranteed first-year compensation was less than a percent of an increase over last year’s $172,090 yet nevertheless a new record for MBA graduates. READ MORE
CEOs are the highest ranking corporate executives – and their compensation often reflects as much. Across the 350 largest companies in the United States, the average CEO made $14.5 million in 2019. All things being equal, it would take the typical American about 400 years to earn that amount. READ MORE
Might as well have offered a lump of coal.
Internet domain behemoth GoDaddy sent employees an email promising a Christmas bonus — that turned out to actually be a computer security test. READ MORE
We can all agree that 2020 brought a seismic shift to virtually all aspects of our lives, from health and safety concerns to uncertain economic futures for individuals and organizations alike.
As we try to put this difficult year behind us and forge into 2021, it is imperative that corporate leaders focus on an economic recovery that benefits all levels of employees and has a focus beyond simply profits. READ MORE
Starting in 2020, companies that pay at least $600 for services performed by someone who is not their employee are required to use the new Form 1099-NEC to report the nonemployee compensation. The Form 1099-MISC will no longer be used to report such compensation. READ MORE
The IRS issued final regulations (T.D. 9932) on Sec. 162(m), which disallows a deduction by any publicly held corporation for employee remuneration paid to any covered employee to the extent that the employee’s remuneration for the tax year exceeds $1 million. The rules finalized proposed regulations (REG-122180-18) issued last December. READ MORE
A trifecta of global events—the coronavirus pandemic, economic uncertainty, and the social justice movement—has significantly accelerated the need for companies around the world to link environmental, social, and governance (ESG) initiatives to their executive incentive plans, according to a recent poll. READ MORE
Companies work hard to attract the right people, and they work equally hard to support those employees’ development and growth within the company. Sometimes employees do not or cannot perform at the level needed. Accountability and support work together to ensure employees and companies have a mutually beneficial relationship. READ MORE
The U.S. Supreme Court agreed Wednesday to take up the NCAA's appeal of a lower court decision that loosened the limits on compensation given to student athletes. READ MORE
COVID-19 has altered the way nearly every employee performs their work. Videoconferencing and phone calls have largely replaced in-person visits and face-to-face meetings in many workplaces. By extension, many sales employees who used to visit customers in person now do so remotely. While convenient, this practice may compromise their status as exempt employees under federal and state wage laws, thus forcing many employers to get creative to stay in compliance. READ MORE
The pandemic has created an opportunity for government to change the way work gets done. Managers will be the key to success. READ MORE
The Securities and Exchange Commission (the “SEC”) recently voted to propose temporary rules to permit companies to provide equity compensation to certain workers known as “gig” or “platform” workers. READ MORE
The Securities and Exchange Commission has settled with former Argo Group chief executive officer and president Mark Watson III over his role in the firm’s failure to disclose more than $5.3 million worth of perks and personal benefits.
The SEC said Watson has agreed to pay a fine of $450,000. READ MORE
Companies are increasingly establishing executive positions to cultivate ESG strategies but recent data suggests they won’t stop there. Many of these firms will also be taking steps to tie or link executive pay with attaining ESG goals, according to a new survey from Willis Towers Watson. READ MORE
A shift in employee compensation has been a long time coming and, according to SemperVirens’ Allison Baum Gates, Covid-19 has accelerated this. READ MORE
Acontroversial overtime pay rule from the former President Barack Obama's administration would have doubled the salary threshold for employees to be classified as exempt from overtime pay under federal law. In 2016, before the rule was implemented, a judge held that the administration exceeded its authority by raising the rate too high, but employers may be wondering if President-elect Joe Biden will revisit the rule.
Here's what employment attorneys had to say. READ MORE
The COVID-19 pandemic tested employers and employees alike, which affected the rewards and benefits organizations offered their employees in a tumultuous 2020.
Highlighting these trends, WorldatWork’s “2020 Inventory of Total Rewards Programs & Practices” survey found there were significant increases in employer-offered telemedicine, paid and unpaid caregiver leave, tuition discounts and hazard pay from 2019. READ MORE
SRI, CSR, GRI, ESG; Stakeholders, B-Corps, 3BL — what to make of this acronym soup? Thirty years ago, ideas of investing and managing beyond profits and shareholder return for social responsibility were new, aspirational, largely driven by individuals and presumed to come at the cost of making money. Not so anymore. READ MORE
Just over a year ago at a WorldatWork gathering of senior executive compensation leaders, we were noting the relatively slow pace of change in our field at that moment. Change and challenge tend to come in waves, and we were trying to anticipate when the next wave would hit, and how we would respond.
A few months later, we were all hit with successive waves of challenge and change that have characterized 2020. As we finish this tumultuous year, what can we expect in 2021, and how do we prepare? READ MORE