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Employers have high expectations for business and headcount growth in 2018, but a severe skills shortage in the fastest growing sectors could hinder plans, according to the 2018 U.S. Salary Guide from Hays, a specialist recruitment agency.
The new tax reform law is fueling changes to corporate America’s employee benefits, compensation, total rewards, and executive pay programs, according to a survey by Willis Towers Watson, a global advisory, broking, and solutions company. The survey of 333 large and midsize employers reveals nearly half (49%) of the respondents are considering making a change […]
A few weeks ago, I wrote an article about compensation practices that included a brief look at pay approaches including single-rate pay, step-based pay, and a slew of pay differentials. Taking it a step further, this article is about pay actions and explains the types, why they occur, and how they’re communicated to employees.
A recent Glassdoor survey revealed that more employees are expected to quit in the coming year, citing salary as the main reason why. To get ahead of the turnover, Glassdoor offers 10 tips you can use to help manage your employees’ salary expectations.
The Fair Labor Standards Act (FLSA) is seemingly straightforward on the matter of pay: employers must pay employees for all hours worked. But who is an employee? And can employers accept free work?
The debate over the value of salary transparency has heated up in recent years, with neither side giving much ground. But Kristin Wong describes some studies that weigh in favor of transparency on New York magazine’s Science of Us blog.
When you think about compensation policy and practice, do you lean more toward “just the facts” or “how does that make you feel?” Compensation is, of course, based on facts and figures. But some new research has found that employee loyalty is driven much more by feelings than it is by facts.
Simply put, a pay approach is the method an organization uses to deliver base pay to its employees. For example: job-based pay, market-based pay, knowledge/skill-based pay, and experience-based pay are all methods of pay delivery. Which one is the right one? Any of them can be a viable method, depending on the organization’s needs and […]
Nearly all of us have at least heard of Employee Stock Ownership Plans—also known as ESOPs—but far fewer are sure exactly how they work and why organizations would want to offer them.
Millennials employees are no longer a novel concept. As Scott T. Rollin notes in the Minneapolis Star Tribune, they’ve begun to move into middle management and other key employee roles. Coupled with employers’ worries about hiring and retaining qualified workers, the result is a mounting concern about how to compensate key Millennials.