ESG And Executive Compensation: Why The Right Metrics Matter

Executive compensation is one of the most powerful instruments companies have to align directors' interests to company performance, to hold them accountable for their executive decisions, and to communicate strategic priorities to stakeholders. The inclusion of the say on pay vote in many markets globally has forced investors to take a more active role in tackling remuneration concerns, such as overly complex remuneration structures, inadequate performance metrics and excessive pay-outs. As such, executive compensation is a top agenda item for those who are advocates for good corporate governance and seek to foster changes in pay structure through active ownership. READ MORE

To Stem Turnover, Employers Favor Higher Salaries and Remote Work

What are businesses doing to retain finance and accounting staff and make job offers more appealing to candidates when they have open positions?

Both can be a challenge. In the spring CFO Survey from Duke University and the Richmond Federal Reserve Bank, three-quarters of CFOs responding said the talent shortage was impacting revenue, and about half indicated it was constraining both revenue and full-capacity operations. READ MORE

Should You Be Paying Overtime to Your Office Staff?

Office workers who perform receptionist, secretarial, and other administrative tasks often are incorrectly classified as exempt from overtime pay because they receive a salary and have job titles such as "executive assistant." However, such employees will not necessarily be found exempt from the requirement to pay overtime merely because they receive a salary, perform important administrative duties, and hold impressive job titles. Clerical and administrative employees often do not have sufficiently high-level positions or perform primary duties that meet the "administrative employee" exemption. And misclassification of these employees as exempt can result in costly claims for non-payment of overtime. READ MORE

It’s time to debunk these 2 myths about pay raises

After you receive that next big raise at work, or reach a certain economic level, you may think you’ll achieve contentment, happiness, or peace. The reality, though, is that such levels may very well be false summits that provide illusory benefits and ultimately, lead to just the next goal to reach in an ever-upward tilting treadmill. More, it turns out, may not be better; and there are different ways to achieve greater levels of contentment and happiness, regardless of your financial resources.  READ MORE

Pay Transparency Laws Are All The Rage

Pay transparency laws are catching fire in legislative bodies around the country.  As we have previously reported, these laws, which target pay equity, have gone into effect in a number of jurisdictions, such as Colorado and New York City in recent years. 

New York State is one of the latest to pass such a bill (on June 2, 2022) that requires private employers in the state to publish salary or wage ranges in all job postings.  The bill, which has been passed by the state legislature and awaits the signature of Governor Kathy Hochul, will become effective 270 days after it is signed.  READ MORE

U.S. laws support the collection of income tax, despite claims otherwise

A social media post that claims U.S. laws don’t support the collection of income tax makes its case using debunked information and features speakers who’ve been convicted of federal tax crimes.

"To date, nobody has been able to show that there is a law for the average American citizen working day in and day out to pay an income tax," says a person identified as Tom Selgas, in a TikTok video shared July 15 as a reel on Facebook. Selgas was convicted by a federal court in 2020 of income tax evasion. READ MORE

If You Can’t Get A Salary Increase Due To Inflation, Ask For This Instead

With inflation raging, which is escalating the costs of everything, you may be thinking about asking for a raise. It’s a reasonable request. With the inflation rate spiking over 9%, your paycheck doesn’t go as far anymore. The average American household will have to spend an extra $5,200—$433 a month—just to consume the same goods and services as last year. Here’s the dilemma: it's a reasonable ask, but the economy, job market and sentiment of business leaders have shifted. READ MORE

What Salary Does It Take to Be Comfortable?

If you're satisfied with the amount of money you earn, consider yourself fortunate. Many workers these days are woefully underpaid, and at a time when living costs are soaring, that's not a good thing. But even if you earn a more generous salary than the average American, it may not be enough to get you the lifestyle you want, or to allow you to meet goals like buying a home or building a solid nest egg for retirement. READ MORE

CEOs average pay in 2021 was 324 times higher than employees

CEOs of the top 500 companies in the U.S. earned 324 times more money in 2021 than their employees, with executive compensation climbing $2.8 million dollars in the past year on average as worker wages declined, according to an AFL-CIO report.

While the report found that real worker wages fell 2.4 percent in 2021 after adjusting for inflation, the average compensation for the top CEOs in the nation last year was $18.3 million, a more than $5 million increase over the past decade. READ MORE

These were the highest-paying Silicon Valley tech companies in 2021

Silicon Valley is synonymous with a strong concentration of wealth, both for the tech companies that populate the area — with some of the highest valuations in the world — and for its employees, who are also paid incredibly handsomely. 

Although the rising costs of living are driving some Bay Area residents out, the opportunities — and compensation — in tech are too abundant for a certain demographic to ignore. Companies like Meta (formerly Facebook), Apple and Google have long held reputations for generously paying their employees. But as the tech space approaches a saturation point, are other employers becoming competitive? READ MORE

Employers budgeting big pay raises for 2023

In response to a tight labor market, employers are planning to up employee salaries in the biggest projected hike in 15 years, new data from Willis Towers Watson finds.

Although it’s a new recent high, it’s not by much: Companies, on average, are budgeting a 4.1% salary increase for 2023, just above this year’s average 4% increase. The 2022 and 2023 salary increases are the largest since the Great Recession of 2008, according to the consulting firm, which surveyed 1,430 employers for insights in April and May. READ MORE