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The Great Resignation was partly prompted by workers’ desire to achieve job satisfaction, and according to new research, that looks different than it has in the past.
Although more money and PTO may seem like workers’ most wanted perks, new research shows that they are now prioritizing a flexible work schedule. READ MORE
The New York City pay transparency law requires that NYC employers with four or more employees include the salary range of the position in job postings. In March, new legislation was introduced in the New York City Council to amend the law. This bill, if passed, would amend the law in a few critical aspects. Among other things, the amendment would (i) push the effective date of the law from May 15, 2022 to November 1, 2022; (ii) exclude employers with fewer than 15 employees; (iii) change references to the term “salary” to read “hourly or salary compensation”; and (iv) amend the law so that it would not apply to general notices without reference to particular positions and to positions that are not required to be performed at least in part in NYC. READ MORE
Despite the pandemic, executive recruiters face one of the strongest candidate markets in the past twenty years. You have more negotiating power than ever for executive compensation.
When it comes to executive equity compensation, do you know that there are differences between employee equity from a corporation and an LLC? This article explains two types of employee equity you can receive from an LLC, how they compare to equity in corporations, and what favorable terms to negotiate for your executive equity compensation package. READ MORE
Two Securities and Exchange Commission (SEC) executive compensation rules on recoupment of incentive compensation in the event of a financial restatement (clawbacks) and the correlation between executive pay and company performance (pay-for-performance), which were originally proposed in 2015 but never adopted, were reopened for public comment on October 14, 2021 and January 27, 2022, respectively. The proposed rules on clawbacks and pay-for-performance were intended to fulfill rulemaking requirements mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act). In reopening the comment periods on these rules, the SEC also requested input on certain possible expansions to the original proposals in view of the time elapsed and developments in executive compensation since the original proposals. READ MORE
With Tesla's strong quarterly report on Wednesday, Chief Executive Elon Musk has scored a hat trick of performance goals worth a combined $23 billion in new compensation.
The world's most valuable carmaker posted March quarter revenue and profit that surged past Wall Street estimates as it raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. READ MORE
Workers who hope to organize a union at Apple’s Grand Central Terminal store want workers to be paid a minimum of $30 per hour, according to a website for the group, Fruit Stand Workers United, that was updated on Monday.
Employees at Apple’s high-profile store in New York City started to take steps to unionize earlier this year, posting the first public-facing website announcing their effort over the weekend. READ MORE
Equity remains one of the hallmarks of working at a startup. But while it’s something most employees receive, it’s not something that all take advantage of.
Factors abound when considering if and when to exercise your stock options. In the spirit of tax season and a pent-up IPO pipeline, we talked to some equity experts about what employees should keep in mind when making decisions around their equity. READ MORE
The Securities and Exchange Commission’s (SEC) recently released proposal for climate-related disclosure for investors is one of the most extensive sets of disclosure regulations to be released in many years. It will affect virtually every company filing in the United States, and many quite substantially. READ MORE
Although some companies provide formal reviews, at many employers, it’s up to you to set aside time to advocate for yourself and ask for better pay. But how often should you be doing this? READ MORE
Billionaire Elon Musk would cut the salaries of Twitter's board of directors to zero if his ongoing attempt to purchase the company succeeds, Musk announced Monday.
Musk offered to purchase Twitter and take it private for $54.20 last week, and Twitter's board is working to fight off the buyout. Board members currently make between $200,000 and $300,000 salaries, equating to an annual cost of roughly $3 million for the company. READ MORE
The highest-paid CEO in 2021 was Patrick Gelsinger of Intel, who brought in $170 million in stock and option awards and a total of around $177.9 million, according to a recent study from Equilar that utilizes annual proxy statements from companies and compiles a list of the top 100 highest-paid CEOs. Rosalind Brewer, CEO of Walgreens, is the highest-paid female on that list, coming in 14th. READ MORE
CEO pay has long been a controversial topic, as most companies award their top executives with multiple bonuses, stock options, and perks while barely giving raises to their average employee. Yearly increments often do not match inflation levels. While inflation has grown by nearly 8%, hourly wages have barely increased by 4.7%. CEO salary, however, has continued to maintain the security and comfort it offers.
In February, 85% of companies told Payscale that they are worried about inflation, but most also admitted that they aren’t giving pay increases to match it. One group that tends to be insulated from these economic changes is that of the CEOs. READ MORE
Although the coronavirus pandemic negatively altered most employees’ payment and compensation structure, it is not a similar case for executives serving at top tech companies. The executives have taken home significant perks during a phase in which the tech sector emerged among the best performing while the pandemic took an economic toll on most industries. READ MORE
Sales compensation is an important factor for the revenue growth of an organization and needs to be re-evaluated from time to time to ensure your top salespeople are motivated to drive organizational success.
Unfortunately, many organizations continue to use outdated programs or worse, compensation plans that are incompatible with their objectives. READ MORE
As a company, we are committed to doing well by doing good. It’s something that makes us unique. It’s core to our values and we expect it of ourselves. It shows up in many forms inside and outside of Mastercard. We see it in our In Solidarity commitment to narrow the racial wealth and opportunity gap and the Priceless Planet Coalition, which aims to plant 100 million trees by 2025. It’s also embodied in our innovations like True Name and the Touch Card. Regardless of the specific initiative or product, it means leading our business with empathy to help us build better solutions for everyone. READ MORE
Beleaguered Bayer CEO Werner Baumann has clinched the support of two major investors, but shareholder concerns surrounding the German conglomerate’s C-suite payouts persist.
Prominent proxy brawlers Institutional Shareholder Services (ISS) and Glass Lewis have endorsed Bayer’s leadership but stopped short of blessing its “excessive” executive compensation plans, Bloomberg News first reported. The investors' partial support comes after both outfits in 2019 agitated against Baumann's leadership, recommending a historic no-confidence vote against the CEO. READ MORE
One of the most interesting outcomes of the past two years is the renewed focus on company culture and the prioritization of work-life balance above compensation and benefits. A Glassdoor survey found that 77% of respondents consider a company’s culture before applying for a job there, and 56% said company culture is more important than salary as it relates to job satisfaction. And that was before the pandemic. In 2021, Glassdoor found that toxic work culture was one of the biggest factors in people quitting. READ MORE
There are two universal principles regarding the reasonableness of employee compensation: (i) most people feel they are undercompensated and (ii) those same people feel their friends and neighbors are overcompensated. There are many reasons for this phenomenon, but for our unscientific purposes it’s enough to think of reasonableness like beauty – it’s in the eyes of the beholder. READ MORE
Since President Biden took office in January 2021, employers’ compensation and nondiscrimination practices have been under increasing scrutiny by the federal government. For example, the recently issued Directive 2022-01—the Office of Federal Contract Compliance Programs (OFCCP) of the United States Department of Labor’s first directive since President Biden took office—directly underscores that pay equity is a priority of the new administration. This Directive, among other mandates, makes clear that OFCCP intends to challenge whether employers can rely on the attorney-client privilege and work product doctrine to protect internal pay equity audits from being produced when requested by OFCCP as part of its investigations into regulatory compliance. As a result, companies should be particularly mindful of how they conduct internal pay equity analyses going forward. This is especially important considering OFCCP Director Jenny Yang has recently declared that going forward, it is “redoubling its efforts to remove barriers to pay equity.” READ MORE
The tightest labor market in years is fueling rapid wage gains for most workers – the only problem is that red-hot inflation is quickly eroding those increases.
The Labor Department reported on Tuesday that average hourly earnings for all employees actually declined 2.7% in March from the same month a year ago when factoring in the impact of rising consumer prices. On a monthly basis, average hourly earnings tumbled by 0.8% in March, when factoring in the 1.2% inflation spike. READ MORE