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As pay equity gains traction nationwide, state and localities are enacting laws aimed at reducing the informational imbalances around pay that can ingrain existing pay disparities.
These laws, known as salary history and pay transparency laws, vary from state to state and locality to locality, creating a contradictory and rapidly changing landscape that you and other employers must try and navigate when recruiting and hiring. READ MORE
Over the past decade, the implementation of Dodd-Frank provisions such as say on pay, the advisor independence rules and CEO pay ratio disclosure has significantly influenced the evolution of executive compensation practices and disclosures as well as the role of the board. Now, the SEC has turned its attention to finalizing the open compensation-related Dodd-Frank provisions that remain: clawbacks and pay vs. performance disclosure. Both rules were proposed in 2015. READ MORE
Pay transparency is becoming increasingly important for today’s employees and job candidates. In fact, most (60%) employees say they’d switch jobs for more pay transparency. However, many employers are still hesitant about revealing information about their organization’s pay practices. READ MORE
As organizations seek to rightsize their compensation packages, especially given the pressures of the so-called Great Resignation and trends like quiet quitting, the focus on pay equity is becoming ever sharper. While fair pay practices are increasingly viewed as a must for a strong recruitment and retention strategy, ideas about who should actually be setting those policies are less clear. READ MORE
More than one-third of employees report they haven’t received a pay increase in the past year, according to a survey of 1,000 employees by HR software firm BambooHR. The data also reveals some stark differences among genders. Fewer women (62%) are receiving raises than their male counterparts (66%), and those women who are getting salary increases are getting smaller raises than their male colleagues, 5.24% increases for women compared to 6.39% for men. READ MORE
The good news is that salaries in US companies are going up. The bad news is that despite the increase, 2023 compensation budgets and salary projects for US employers are unlikely to meet employee expectations amid rising high inflation. READ MORE
The San Francisco Bay Area had the highest average salaries for tech workers in 2022, followed by Seattle and New York, with engineering management roles seeing the highest compensation. READ MORE
With new laws from Colorado to Rhode Island, employers are under growing pressure to publicly share how much a job pays.
Last week, California became the largest state to join the push for salary transparency when Gov. Gavin Newsom signed the measure, which takes effect next year. READ MORE
Given the significant decline in the stock prices of many companies over the past several months of 2022, a number of companies are reassessing their equity programs and considering repricing outstanding employee stock options.1 Companies are concerned that significantly "underwater" options no longer provide the incentives to employees that were intended when they were originally granted. They also fear they may lose employees to other companies where these employees can receive new options at today's lower exercise prices. READ MORE
An analysis published Tuesday shows that the top executives of the largest corporations in the United States have seen their pay soar by nearly 1,500% over the past 43 years, helping to fuel a massive surge in inequality as workers' wages lag. READ MORE
Deferred compensation plans offer highly compensated and key employees an opportunity to earn performance awards, defer compensation and taxes until a later date, reduce certain payroll taxes, informally find executive life insurance agreements, and help facilitate buy-in for business succession plans. READ MORE
Workplace review site Comparably just published its annual ranking of places with the best compensation, and Adobe ranked number one on the list focused on companies with over 500 employees, or large companies. READ MORE
It wasn’t hard for Samantha Losey, managing director of Unity, a public relations firm in London, to convince her team to work fewer hours for the same paycheck.
But it was an uphill battle to persuade her own board to join the world’s biggest pilot of the four-day work week. READ MORE
Restricted Stock Units (or “RSUs”) continue to gain traction as part of company compensation plans. Not only are they a great way to incentivize employees with shares of company stock at future dates, but they are also a tremendous tool to help retain top talent from the employer perspective. The present value of your RSU grant is known up front, while the future value is highly uncertain as it’s tied directly to your company’s stock price – and your tenure around vesting schedules. READ MORE
Readers who regularly work with deferred compensation plans will know that Section 409A of the Internal Revenue Code (“Section 409A”) prescribes six events or times at which deferred compensation may be distributed to participants in a deferred compensation arrangement. READ MORE
While there are possible variations on each type of arrangement, there are, in general, six types of equity compensation plans that can be offered to employees: READ MORE
If New York Governor Kathy Hochul signs a new law mandating the inclusion of salary or compensation ranges on job descriptions, the state will follow the path of Colorado and Washington state where pay transparency laws are currently in effect. The new law will become effective on November 1 in New York City, and statewide next year. READ MORE
On Tuesday, Governor Gavin Newsom signed a bill that would require most employers in California to provide salary ranges for open positions to applicants and workers.
The bill would affect all employers in the state with at least 15 workers to include the hourly rate or salary range on job listings, according to CNBC. READ MORE
In a post-pandemic world, work-from-home and hybrid work arrangements have become the norm in many industries. While employers and employees have become adept at hosting Zoom and Teams meetings, this significant uptick in remote work begs the question: What if an employee gets injured while at home? Is this covered by workers’ compensation? If so, when? The answer, as it so often is, is it depends. READ MORE
High turnover, recession, rising pay packages, talent shortages, inflation, supply chain delays, excess inventory, virtual selling — these are just a few of the disruptions facing sales compensation stakeholders today. These same disruptors might also upend your well-functioning sales compensation program. READ MORE