Is demanding a salary raise advisable during the pandemic?

Seeking a raise can be an intimidating task, especially during the pandemic, when the entire world faces a massive economic downturn and crisis. The pandemic not only saw COVID-19 destroying the lives of people but a vast number of layoffs and shutdowns of corporations.

However, if you are expecting a raise or feel underpaid at this challenging time, you might want to ask your boss about the forthcoming raise. Or is it not a good time? Your condition and concerns are understandable. However, despite the bad news, there is also a silver lining when there is a substantial growth of new jobs, raises, and promotions. As such, getting a raise during the pandemic is not entirely impossible. You need to figure out the ways to seek the raise in these turmoil times. READ MORE

Minimum Wages Increase in 25 States in 2021

According to a study by Wolters Kluwer Legal & Regulatory 25 states will raise their minimum wage in 2021, with 21 of those states enacting the increases on New Year’s day.

By the beginning of the New Year, New York and Oregon, which both have regional minimum wage rates, will see the highest wages reaching $15.00 in New York City and $14.00 in the Portland Metro Area effective July 1, 2021. READ MORE

Bolstering ESG in the proxy

At Nasdaq, the proxy statement is produced internally by a cross-functional working group whose members all have additional jobs to do. This team includes representatives from investor relations, internal audit, legal, the corporate secretary and the design team.

It’s all the more impressive, then, that Nasdaq’s 2020 proxy statement has been judged 'best in class'. Erika Moore, Nasdaq’s assistant general counsel, says it takes the working group about six months to complete the proxy statement each year. READ MORE

IRS Finalizes Regulations under Section 162(m)

The Tax Cuts and Jobs Act (the "Act")--signed into law in December 2017--made several substantial changes to Section 162(m) of the Internal Revenue Code ("Section 162(m)"), which limits a publicly traded corporation's business expense deductions for the compensation paid to its "covered employees."1 The Internal Revenue Service published proposed regulations (the "Proposed Regulations") regarding revised Section 162(m) on December 20, 2019, and released final regulations (the "Final Regulations") on December 18, 2020. READ MORE

How Will Compensation Programs Shift In 2021?

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

Can Companies Use the Outside Sales Exemption During a Pandemic?

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