79 Percent of Employees Want Greater Pay Transparency

The movement for greater pay transparency is flourishing over the past year as many U.S. states are enacting laws requiring employers to share estimated salary ranges in job postings.

Although "pay transparency" encompasses a broad range of practices -- from listing employees' salaries to publicizing compensation policies -- it essentially boils down to employers sharing compensation practices more openly than what's traditionally expected. READ MORE

New York City Council Delays Effective Date Of Salary Disclosure Law

The New York City Council passed a salary disclosure law, Int. 134-A, at the beginning of this year in an effort to increase salary transparency and decrease wage disparities based on gender and race. The law was due to take effect this Sunday, May 15.

After the publicity and significant pushback from the business community, the City Council has amended the law to extend the compliance date, clarify some rules, and modify other rules. READ MORE

DOL Expected to Raise the Salary Basis Threshold

The United States Department of Labor (“DOL”) is expected to propose a new salary threshold for various overtime exemptions under the Fair Labor Standards Act (“FLSA”). The new proposal is likely to be issued in the near future and could be issued as early as this month. Many expect the DOL to increase the threshold from its current minimum salary amount of $684/week—potentially impacting millions of employees across the United States. READ MORE

Should you tell your coworkers your salary — or keep it a secret?

The job market is hot and so are salaries. People are quitting jobs in record numbers, often because they’ve landed a new gig with better pay. Some 40% of people who’ve switched jobs said they got a raise of 10% or more at their new company, an April survey by the tax-advisory firm Grant Thornton found. Meanwhile, wages are rising overall as employers seek to lure talent, and new state and local laws are requiring companies to be more transparent about pay. READ MORE

How to Identify Top ESG Priorities

As investors, regulators, and stakeholders increasingly recognize environmental, social and governance (ESG) risks and opportunities as financially material, companies are looking for ways to link management incentives with ESG performance on climate change, diversity and inclusion, and other key issues. Though integrating ESG goals into the existing compensation program may seem like the obvious next step, there are several processes that board members need to implement first—and critical questions that they need to address—to ensure the new compensation structure is appropriately tied to corporate strategy. READ MORE

Higher Compensation, Work-Life Balance and Remote Work Are the Top Priorities for Tech Pros

After a year of uncertainty in 2020, 2021 was one of transition for technology professionals. Since the pandemic had illuminated the importance of technology, IT continues to provide a stable and steady career. However, employees now hold more leverage with employers. IT professionals today say what matters most to them about their jobs are overall work-life balance (46%), vacation time/paid time off (42%), having their opinion and knowledge valued (40%), and telecommuting/working from home (40%). However, among the 37% of IT professionals who say they are currently looking for a new job, 76% said the main reason is for higher compensation, followed by a desire for more interesting work (41%), seeking more personal fulfillment (39%) and a dislike of their current company’s culture (32%). READ MORE

For Tens of Millions of Americans, the Good Times Are Right Now

This is an era of great political division and dramatic cultural upheaval. Much more quietly, it has been a time of great financial reward for a large number of Americans.

For the 158 million who are employed, prospects haven’t been this bright since men landed on the moon. As many as half of those workers have retirement accounts that were fattened by a prolonged bull market in stocks. There are 83 million owner-occupied homes in the United States. At the rate they have been increasing in value, a lot of them are in effect a giant piggy bank that families live inside. READ MORE

Hammers, Nails and Compensation Biases

It's called the law of the instrument. The concept is said to have originated with philosopher Abraham Kaplan, who said “I call it the law of the instrument, and it may be formulated as follows: Give a small boy a hammer, and he will find that everything he encounters needs pounding.”  

The more popular version comes from Abraham Maslow's The Psychology of Science (1966) and is typically presented as "If all you have is a hammer, every problem looks like a nail." READ MORE

Want to Scale Your Small Business? Consider Offering Your Employees Equity

People tend to feel a little more protective of the things they own. So if you want your employees to feel extra committed, you might consider cutting them into the company.

Offering employees equity may be the norm for startups and companies in the tech industry, but small businesses, more generally, might also explore the option of employee ownership--particularly now as the ongoing labor crunch continues to throttle hiring.  READ MORE

U.S. poll finds bipartisan concern over high CEO pay

Bipartisan majorities of U.S. adults think CEO pay is too high, a new poll found, presenting a challenge for corporate boards looking to balance compensation for leaders and workers.

In a survey of 1,037 people in February, 81% of Democrats and 71% of Republicans said the CEOs of the largest American companies were paid "too much," according to poll sponsor Just Capital, a nonprofit focused on corporate stakeholder research. READ MORE

Average startup CEO salary is $150,000 in 2022

Whenever founders raise a round of finance, the question becomes “what the hell should I be paying myself.” It’s one of those rare things you can’t really go to your board or advisors with. You’ll want to pay yourself a fair wage, but it can be a tricky conversation with the people who need to sign off on your salary before you give yourself a bump. Startup accounting firm Kruze Consulting just updated its annual CEO salary report and has some interesting insights to go with it. READ MORE

NCAA clarifies compensation rules but is crackdown likely?

Eleven months after the NCAA lifted most of its restrictions against athletes cashing in on their fame, college sports leaders are trying to send a warning to schools and boosters it believes have crossed a line: There are still rules here and they will be enforced.

But following last year’s Supreme Court ruling against the NCAA in an antitrust case, is a crackdown on so-called collectives brokering name, image and likeness deals still likely — or even possible? READ MORE