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A British bank has adopted a four-day work week for all its employees without cutting pay, saying it's the largest UK company so far to make such a move.
Atom Bank announced on Tuesday that it had also reduced the weekly hours of its 430 staff to 34 from 37.5 and expected most workers to take either Monday or Friday off. The change is voluntary and would mean staff working slightly longer days. READ MORE
What are employers’ top two concerns right now?: First, they can’t find workers, and second, they can’t meet demand for their goods and services — often because they can’t find workers. READ MORE
Nurses are in demand and in short supply with salaries on the rise.
Hospitals are giving nurses raises worth thousands of dollars a year, the latest employer to feel the pinch of a tight labor market, according to The Wall Street Journal. READ MORE
A new piece of research from Business Insider has revealed a range of salaries paid to Apple employees across disciplines like software development, design, and engineering working on products like its best iPhone, the iPhone 13, and more. READ MORE
A successful compensation program, one that drives strategic execution and competitiveness, starts with a guiding philosophy. That’s especially true of executive compensation. Just as companies develop different business strategies, they benefit from different compensation philosophies that respond to their unique circumstances. READ MORE
When looking for a job, it can take hours of interviews and days of preparation to get an answer to a very basic yet crucial question: How much does the gig pay?
Broach the salary question too soon, and an employer might view it negatively. Avoid the question or salary negotiations altogether, and you risk getting underpaid. It’s a delicate song and dance. But a new wave of laws, which are requiring private companies to fork over salary details, could end that rigamarole once and for all. READ MORE
The Treasury Department’s proposed regulations regarding the income tax treatment of “ineligible plans” of tax-exempt employers under Code Section 457(f), published in June 2016, were greeted with much fanfare. (Final regulations have not yet been published, but taxpayers may rely on the proposed regulations now.) Section 1.457(f)-12 of the proposed regulations (the “Proposed Regulations”) attempts to fill in the gaps, and iron out some of the inconsistencies, between the general rules governing deferred compensation plans under Code Section 409A and the special rules governing “ineligible plans” (“Section 457(f) plans”). READ MORE
Options to purchase stock of an employer continue to be a popular form of equity-based compensation, particularly among start-ups and other privately-held companies.
One perennial question companies face in designing stock option programs is the extent to which they should grant nonqualified stock options, known as “NQSOs,” or statutory stock options, known as “incentive stock options” or “ISOs.” READ MORE
In late June, Sharps Compliance, a Houston-based medical waste management company, reported spectacular financial results. The rollout of Covid-19 vaccines had increased demand for the company’s services, Sharps said, and its earnings had more than quadrupled. The company’s board granted Sharps’ top three executives twice the compensation they’d received a year earlier based on the performance; the trio shared almost $1 million more than they’d received in fiscal 2020, Securities and Exchange Commission filings show. READ MORE
The economic fallout from the pandemic has forced businesses to adjust the structure and compensation of their workforces. Many companies altered their performance plans, froze or reduced salaries, and furloughed employee segments, according to the 2021 Gallagher Russell 3000 CEO and Executive Compensation Trends study. READ MORE
Changes Include No More 'Use-It-Or-Lose-It' Policies; Guidance on Pay Rate for HFWA Leave; Clarity on Missed Rest Period Penalty; and New Rules for Agricultural Employers
The Colorado Department of Labor and Employment (CDLE) has adopted new rules, effective Jan. 1, 2022, pertaining to overtime and minimum pay, adjusted labor compensation and wage protection. READ MORE
Thousands of John Deere workers have been on strike for more than a month. Nearly 1,500 Kellogg’s workers likely will celebrate Thanksgiving on the picket line. More than 30,000 Kaiser Permanente workers narrowly avoided a strike this week through an 11th-hour deal with management.
The common thread? Tiered wage proposals that help companies cut costs but that unions say cheat new workers out of pay and retirement benefits. READ MORE
While U.S. job vacancies remain high, there’s no clear evidence yet of a shift in the power balance toward labor that could drive a wage-price spiral. READ MORE
Last year, it seemed like companies were shedding jobs left and right. This year, it seems like companies can't hire quickly enough.
Not surprisingly, that's led to an uptick in salary negotiations, reports Jobvite. In fact, 73% of the recruiters Jobvite recently surveyed say they've seen an increase in negotiating higher salaries among both job applicants and existing employees. And 56% of recruiters say average salaries in the industries they service have increased this year. READ MORE
According to The Conference Board, in the first half of 2021, wages and salaries rose at their fastest pace in more than 20 years. There are a number of things at play — not least the tight labor market, which is leaving some employers scrambling to hire good candidates.
Meanwhile, that trend is colliding with another big change in the workplace: the growing movement toward salary transparency. READ MORE
The U.S. Postal Service paid its top executives more in bonuses and perks this past year than in a decade, adding up to $370,622 in extra income for Postmaster General Louis DeJoy and four of his deputies, according to a Center for Public Integrity review of the agency’s financial disclosures. READ MORE
A majority of millionaires would receive a tax cut under the newest reconciliation framework unveiled by House Democrats, according to a new analysis published this week.
The non-partisan Tax Policy Center found that two-thirds of people making more than $1 million a year would see an average tax cut of $16,800 next year. READ MORE
At a congressional hearing Tuesday, industry organizations offered testimony before the House Financial Services Committee's Task Force on Financial Technology regarding the benefits and potential detriments of earned wage access and other new fintech consumer services, such as buy now-pay later installment payment options. House members of the task force questioned the witnesses and offered dueling interpretations of EWA and BNPL offerings. READ MORE
It’s one of the biggest hiring trends happening right now: employers welcoming back employees who up and left during the pandemic.
They’re called, ‘Boomerang Employees’ and their return to the office can actually benefit both parties.
‘Boomerang Employees’ are workers who decided to leave their employers for a new gig, only to return to their former employer several months or years later. READ MORE
IT managers, system architects, cloud engineers and cybersecurity engineers took home the biggest salaries last year, according to the latest Tech Salary Report from jobs website Dice, with Texas and other emerging hubs taking big leaps forward.
Overall, the salaries of US tech professionals grew 3.6% between 2019 and 2020, reaching an average of $97,859. This was despite many businesses tightening budgets in response to the financial pressures caused by the pandemic. READ MORE