Let’s Talk About Sex … and Salary History
How often do we think about sex? When it comes to hiring and pay, perhaps we should more often.
Tag: Compensation
HR Professionals: Got a Compensation Question?
For me, one of the neat things about being an editor here at BLR® is the opportunity to interact with HR and compensation professionals on a regular basis. As the comp editor, I’m asked about managing the compensation process and, for the most part, they’re pretty routine queries about things like how to market price […]
Banking Industry Plans to Increase Hiring, Salaries in 2018
The labor market is tightening and turnover is increasing, but banks are planning to grow employment, according to data from the Crowe Horwath LLP 2017 Bank Compensation and Benefits Survey. Crowe, a public accounting, consulting, and technology firm, conducts the annual survey, now in its 36th year. The survey, which compiled data from 375 banks, […]
4 Tips for Your Compensation Planning from the Banking Industry
It’s no secret that the recession of 2007/08 resulted in an array of new regulations, especially in the financial services arena. Banking, especially, became subject to new regulation intended to avoid the circumstances that originally led to the recession. The regulation doesn’t end with your mortgage loan or bank money market account. We spoke with Kathy Smith, President of Bank Compensation Consulting to find out how the industry’s highly regulated environment has led to creative compensation solutions—many of which can apply to any industry.
Are Contingencies in Commission Agreements Worth the Paper They’re Written On?
Late last year, the Massachusetts Appeals Court ruled that commissions are “due and payable” under the Massachusetts Wage Act at the time an employee resigns or is terminated, even if the employee might not be eligible to receive the payments under the terms of the company’s commission agreement or plan. (See, Commission Structure Doesn’t Justify […]
Paying Police and Firefighters: Serving the Public and Our Workplaces
Police officers and firefighters have special overtime rules. Overtime pay for most employees is based on a 7-day workweek. Overtime pay for police officers, firefighters, and related employees, on the other hand, may be determined on a 28-day work period.
Pay Data Component of EEO-1 Report Suspended
Employers may be breathing a sigh of relief after the announcement on August 29 that the pay data collection aspect of the EEO-1 form has been suspended.
Let’s Talk About Pay (Or Not): Pros and Cons of Open Salary Policies
Transparency is a corporate value to strive for, but not all companies are ready to be completely transparent about pay. While some employers feel the benefits of open salary policies outweigh the risks, others are understandably concerned about the potential challenges they can create.
BLR’s 2017–2018 Pay Budget and Variable Pay Survey
How much of an increase in pay are your employees receiving in 2017? What level of pay raise is your organization projecting for 2018? 2017 Merit Increases This year’s BLR®—Business & Legal Resources Pay Budget and Variable Pay Survey is practically a replay of last year’s survey, with 18.6% (up from 17.9% last year and […]
Compensation Terminology 101
Like other professionals, compensation professionals can throw around a bunch of terms and acronyms that may or may not make a lot of sense to those not in the field. And, when we’re asked what they mean, we’re sometimes stymied when providing easy to understand definitions that are clear and concise.