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Americans' paychecks continued to rise at the end of 2021. But along with that, so did prices.
Compensation for American workers climbed 4% between December 2020 and December 2021, marking the biggest increase since the fourth quarter of 2001, according to the Bureau of Labor Statistics. READ MORE
The federal government, led by the U.S. Department of Labor, is moving forward on implementing the provisions of President Biden’s Executive Order 14026, which was signed in April 2021. Most new federal government contracts or contract extensions awarded after January 30, 2022 will require contractors—and subcontractors—to pay their service and construction workers at least $15/hour. READ MORE
Pay equity, or the desire to achieve it, has been a hot topic for employers in the United States in the past several years. Due to a recent increase in legislation in many states and local jurisdictions, pay equity no longer just means ensuring women and other marginalized groups are being paid similar to their male counterparts who are performing similar jobs. READ MORE
Public companies in the United States would be required to disclose how the pay of their top executives squares with their overall performance under a Securities and Exchange Commission rule proposed on Thursday. READ MORE
The pandemic has upended millions of American lives, and for many has made them reconsider priorities around work.
That’s prompted many to quit jobs amid the so-called Great Resignation. In November, a record 4.5 million workers left their jobs, according to data from the Labor Department. READ MORE
Bitcoin prices slipped to a six-month low on Monday. This is bad news for anyone who has invested in crypto, including a motley group of politicians, celebrities, and athletes who’ve recently announced that they’ll accept their paychecks in cryptocurrency. READ MORE
New York City will soon require employers to supply a salary range when they're advertising a position — the biggest step yet in the growing but controversial movement for pay transparency.
Why it matters: Laws like New York's aim to give workers, particularly women and people of color, more power in job negotiations. But the rise in remote work is throwing a wrench into the effort. READ MORE
SoftBank Group Corp. Chief Operating Officer Marcelo Claure is making preparations to depart the Japanese conglomerate after clashing with founder Masayoshi Son over his compensation and responsibilities, people familiar with the matter said. READ MORE
Insider’s global editor-in-chief Nicholas Carlson is on a mission to "demystify people's salaries," as long as it isn't his own, it seems.
Carlson announced on Tuesday that Insider would be launching a new initiative focusing on pay transparency with a "series that demystifies people’s salaries," and encouraged his Twitter followers to support the effort by submitting their salary histories. READ MORE
Interviewing for a new job can be exciting — every conversation is a chance to say exactly what you want in a new role or company, and to make the case for why you deserve it. But one thing that can trip up even the most enthusiastic candidate is figuring out how to discuss money in job interviews. READ MORE
Higher compensation is part of the ransom for dealing with the pandemic for most American companies and industries. So salaries, wages, benefits and perks will cost them more—perhaps a lot more—in the year ahead.
The way CEOs and CHROs can make sure the Great Raise works to their companies' advantage is to be proactive, creative and equitable about it. Yet they also must weigh strategically the demands of the moment with their long-term compensation strategy. READ MORE
The news of tech stocks tumbling and crypto declines has been hard to avoid.
This week has added to what has become a bad start to 2022 for many public tech companies. The decline—brought about by rising inflation and global tension—has affected the share prices of everything ranging from tech stalwarts like Microsoft and Google, to much younger, sexier names like Zoom, Tesla and Peloton. Thus far this year, the Dow Jones Industrial Average is down about 5 percent and the Nasdaq Composite, a good indicator of tech prices, is down more than 12 percent. READ MORE
While Americans rang in 2022, small businesses across the country braced for a gut punch to their budgets. Twenty-two states raised their respective minimum wages on January 1 and another three are scheduled to do the same later this year. Additionally, more than 50 cities and counties are jumping on the bandwagon. READ MORE
The pandemic has seen workers move away from expensive places like Silicon Valley and New York City and take jobs in new, more affordable cities. What regions should you consider? Dice looked at salary trends in 2021 and revealed some of the top places for tech workers in search of high salaries to live. READ MORE
As we continue our review of FY 2021 SEC enforcement activity, we turn our attention to a topic that, if not already a key focus for publicly traded companies, should be. As part of their effort to recruit and retain leadership, public companies often provide benefits to their executives beyond salary and performance-related bonuses, such as use of a corporate aircraft, car allowances or country club memberships. READ MORE
Employers looking to create more equitable workplaces are expected to embrace the policy of full transparency around salaries. READ MORE
Bank of America is handing out $1 billion worth of restricted stock to virtually its entire workforce as the bank seeks to gain an upper hand in the war for talent.
In a memo shared exclusively with CNN, Bank of America CEO Brian Moynihan said Tuesday the company is for the first time opening up its stock awards program to lower-level employees who make up to $100,000 a year. In the past, those employees received a one-time cash bonus. READ MORE
Restaurant chain Bar Louie revamped its benefits program for general managers, offering rewards from profit-sharing bonuses to three-week sabbaticals, in order to try and combat the coronavirus-related labor crunch.
Bar Louie, like the rest of the industry, has been grappling with labor challenges, CEO Tom Fricke told FOX Business. READ MORE
It's been a rough start to 2022 for the world's richest person. He's not too worried, though.
Elon Musk's holdings of Tesla stock have lost about $30 billion this year through Monday's close, as the stock slid 12%.But the next 12 months could be the most lucrative ever for Musk. If analysts are correct, Tesla will report strong financial results this year that will net Musk billions of dollars in stock awards. READ MORE
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