Here's what workers really want from their employers

It's no surprise that anyone looking to quit their current job for a new one will want a position that offers better pay and work-life balance.

But what may be surprising is just how much more motivating these issues are in a person's decision to switch jobs today than they were a few years ago, according to a new Gallup study of more than 13,000 US employees. The last time Gallup did a similar survey was 2015. READ MORE

Coca-Cola Ties Some Exec Compensation to Diversity, Green Issues

Coca-Cola Co. on Wednesday said its board's Talent and Compensation Committee approved new performance measures for executives to include certain social and environmental goals.

The company said it will now include goals to promote employee diversity, equity and inclusion, which will make up 10% of executives' 2022 annual incentive. Net operating revenue, growth and operating income growth will equally comprise the remaining 90%. READ MORE

Benefits & compensation best practices for 2022

Why do employees feel they can call the shots when it comes to the benefits their employers provide?

Because those who stuck with their companies through 2020, despite the many layoffs, mandates and shortages, expected to be compensated for their loyalty and perseverance. When they weren’t, they jumped ship to employers who were offering bigger and better compensation packages. READ MORE

Inflation eroded pay by 1.7% over the past year

High inflation overshadowed a big increase in wages over the past year, amounting to a nearly 2% smaller paycheck for the average worker, according to federal data published Thursday.

Employers have raised wages at about the fastest rate in 15 years, as they compete for talent amid record job openings and quit levels. But consumer prices for goods and services are rising at their fastest annual pace in four decades, eroding those gains for many Americans. READ MORE

Employers Need To Invest In Low-Wage Employees To Prevent The Great Resignation

It's estimated that around 44% of Americans are in low-wage jobs, which despite the low pay are often among the most dangerous in the labor market. These often tedious and dirty roles can be overlooked by society and employers alike but the so-called Great Resignation has shone a fresh light on these roles as organizations have struggled to fill what are underappreciated yet hugely important roles for the efficient and effective functioning of so many organizations. READ MORE

There's A New Way To Watch The Widening Income Gap in (Almost) Real Time

Goldman Sachs paid its CEO David Solomon $35 million in 2021, the investment bank announced recently. The handsome sum— a reflection of the fact that the investment bank netted nearly $60 billion under his watch last year—puts Solomon in the top 0.01% of earners in 2021, alongside such other lucre luminaries as Morgan Stanley’s James Gorman ($35 million), JPMorgan’s Jamie Dimon ($34.5 million) and 30,000 or so other folks. Since the beginning of the pandemic in 2020, American households in this teensy tiny slice of society have increased their income by about 8%. READ MORE

Common Reasons for Flagged Pay Differences

Some employers have a practice of periodically conducting statistical analyses of employee compensation, under attorney-client privilege, to identify potential areas of risk related to pay equity concerns. These analyses are usually focused on gender and race or national origin. Through these statistical analyses, employees are placed into comparator groups and the compensation of the employees in those groups is analyzed for differences that remain after controlling for relevant factors available in the data set. Such factors may include data points such as job title, tenure with the company, time in position, location/market, and performance ratings. Once the analysis has controlled for the available factors, the statistical model will flag those comparator groups where the pay differences are statistically significant and adverse to a particular demographic. READ MORE

How to Get a Pay Raise in Today’s Hot Labor Market

Want to make more money? Maybe you should threaten to quit.

That’s what workers told us they are doing — and it’s working, as we lay out in this story about the labor market. At a time of unexpectedly high demand for talent, employees are securing offers from different firms to land raises at their current jobs. Some have even increased their pay by around $100,000. It’s happening in other parts of the world, too. But experts say depending on where you live, your time may be running out. READ MORE

MBA Salaries & Bonuses At The Top 25 B-Schools

Stanford Graduate School of Business Dean Jonathan Levin praised the adaptability and resilience of his school’s most recent graduating MBA class last month to mark the release of Stanford’s 2021 employment report. But the words Levin chose could apply to just about all of the MBAs from the top B-schools in the United States.

“More than other classes,” Levin said, “the Class of 2021 learned how to deal with ambiguity and uncertainty, and to be adaptable and resilient. We are thrilled to see how they are applying what they have learned, going on to incredible roles in numerous industries.” READ MORE

Class action challenges company’s non-compensation of travel and meeting time

Whether to pay any travel time for employees under the Fair Labor Standards Act (FLSA) can be complicated. Employees who believe they should be compensated for that time often challenge non-payment. A dispute over travel time with one employee can sometimes even blossom into a class action lawsuit involving a large number of employees and former employees. An oilfield employer recently found itself battling exactly that sort of expanding lawsuit. READ MORE