Have a gender pay gap at your business? Here’s what execs can do to address problem right now

March is Women’s History Month, and if you do only one thing to mark the occasion, I hope you’ll conduct a pay equity analysis. What does that mean? In short, it’s a data-finding mission to make sure the women in your organization are being paid the full amount for every dollar men are making. You might think you’re doing well in this space already, but it’s still important to run the data so you can form an objective opinion. READ MORE

19 Jobs that Pay More Than $70,000 a Year and Don't Require a College Degree

While college may be the traditional path to securing a steady, high-paying job, it is certainly not the only route to a good salary. For those who long to escape the world of academia after high school graduation, there are a number of options offering more than $70,000 a year—provided you're willing to master the technical skills or on-the-job training needed to get hired. READ MORE

IRS Issues Final Section 162(m) Regulations On Companies’ Ability To Deduct Executive Pay

The Internal Revenue Service (IRS) recently published final regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) to Section 162(m) of the Internal Revenue Code (Section 162(m)) expanding the scope of Section 162(m)’s compensation tax deduction limitation. Publicly held companies that already exceed or that may soon exceed the Section 162(m) $1 million deduction limit will need to carefully consider the impact of amended Section 162(m). READ MORE

Elizabeth Warren to unveil wealth tax on Americans worth over $50M

Sen. Elizabeth Warren plans to unveil legislation on Monday that would tax the net worth of the wealthiest Americans, a proposal aimed at reducing income inequality in the U.S.

The measure would impose a 2% annual tax on the net worth of U.S. households above $50 million and would add an additional 1% levy on households worth more than $1 billion. It's nearly identical to the wealth tax that Warren introduced during her failed 2020 presidential campaign. READ MORE

Democrats scrap plan to penalize corporations over $15 minimum wage

Senate Democrats are dropping a plan to raise the federal minimum wage through a corporate tax penalty amid concerns that its inclusion in the $1.9 trillion coronavirus relief package could delay the bill's passage, according to a source familiar with the matter.

The plan, introduced last week by Senate Finance Chairman Ron Wyden and Senate Budget Chairman Bernie Sanders, included tax penalties on large corporations that fail to pay $15 an hour and incentives for the "smallest of small businesses" to encourage them to raise their wages. READ MORE

Costco raises its minimum wage above rivals like Amazon, Target and Best Buy

Costco will raise its starting rate for hourly store workers in the United States to $16 an hour, putting its starting wage above rivals such as Amazon, Target and Best Buy.

Costco has around 180,000 US employees, and 90% of them work hourly. It will hike its minimum wage to $16 beginning next week, chief executive Craig Jelinek said Thursday at a US Senate Budget Committee hearing chaired by Sen. Bernie Sanders on worker pay at large companies. READ MORE

Don’t Forget! Refresher on Glass Lewis COVID-19-Related Guidance and ISS Compensation

For companies knee deep in proxy statement drafting and 2021 executive compensation decisions, we recommend a quick refresher on Glass Lewis’ December 2020 Approach to Executive Compensation in the Context of the COVID-19 Pandemic and ISS’ October 2020 COVID-19-related compensation FAQs, as well as ISS’ more general December 2020 compensation-related FAQs and equity plan-related FAQs. READ MORE

Focus on fate of $15 minimum wage in Senate as House prepares to take up Biden’s $1.9 trillion relief bill

Lawmakers were awaiting a key ruling from Senate officials Wednesday on whether President Biden’s proposed $15-an-hour minimum wage can remain in his $1.9 trillion coronavirus relief bill.

Top Senate aides from both parties huddled with the Senate parliamentarian Wednesday morning to advance arguments about whether the minimum wage increase would be allowable under the complex Senate rules that will govern consideration of the legislation. READ MORE

Most Employers Open to Negotiating Salary, Not Benefits

The majority of employers are open to negotiating salary for some or all positions once a job offer has been made, but that openness does not extend to bonuses and benefits, according to a new survey.

Nearly 90 percent of the 324 organizations that responded to XpertHR's Recruiting and Hiring Survey 2021 said they are flexible about negotiating salary with job candidates—at least for certain positions—but only 42 percent are open to negotiating bonuses, and just 32 percent are willing to negotiate benefits. READ MORE

Setting 2021’s Compensation Goals in the Wake of COVID

Setting goals for incentive compensation has long been one of the compensation committee’s biggest responsibilities. This task is especially difficult with the continuing uncertainty of the COVID-19 pandemic and corporate commitments to serving all stakeholders, not just shareholders. To add to the complexity, some business sectors are thriving while others face a very uncertain recovery. READ MORE